Global consumption of emulsion stabiliser for beverages is foreseen to surpass 210,000 tonnes in 2018, up from almost 200,000 tonnes in 2017, a Fact.MR valuation reveals.
The market is poised to grow at a moderate compound annual growth rate of 4 per cent during the forecast period of 2018-2028.
Buoyancy in the global food and beverage industry is likely to contribute to the steady growth of the market, the report said.
Owing to the presence of a huge number of small market players, the marketplace remains highly fragmented.
Fact.MR estimates that the emulsion stabiliser for the beverage market will surpass $2.4 billion by the end of 2028.
Apart from their popular use as an emulsifier, the food and beverage sector uses emulsion stabilisers for multiple functions such as texture integrity, viscosity modifications, and taste preservation.
Owing to their high vulnerability to spoilage, the beverage industry highly consumes emulsion stabilisers.
The study shows that gum acacia remains the highly preferred emulsion stabiliser among beverage manufacturers, owing to more than a three-fold price difference when compared with other counterparts such as pectin, gellan gum and carrageenan.
Global consumption of gum acacia is expected to reach nearly 105,000 tonnes and account for about 35 per cent of the total consumption by 2028.
With its superior physio-chemical characteristics, pectin is estimated to register the second largest demand for emulsion stabiliser during the forecast period.
In terms of value, pectin will report the largest revenues worth more than $1 billion by the end of 2028.
Beverage manufacturers persistently seek beverage formulators for establishing commercial formulations of beverages which can be easily reproduced for mass production.
The marketplace continues to witness demand for individual stabilisers and blends or mix of stabilisers.
In a bid to optimise raw material cost, beverage manufacturers seek stabiliser blends wherein better performance is obtained by mixing properties of premium and low-cost stabilisers. Demand for individual and stabiliser blends remains highly concentrated in the carbonated soft drinks.
The study predicts that carbonated soft drinks will continue to register leading demand for emulsion stabilisers.
By 2028, carbonated soft drinks are expected to hold more than 28 per cent of the market revenue.
Plant-based beverages are projected to report the second largest demand for emulsion stabilisers and, with demand likely to reach nearly 70,000 tonne by 2028 end.