Food Humectants Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Food Humectants Market is projected to register a CAGR of 6.5% during the forecast period (2022-2027).

The Covid-19 outbreak has had a significant impact on the food humectants market. Due to the pandemic, there were lockdowns, and people were not able to step out of their homes, so people started stockpiling food products has increased the demand for high shelf life. This has increased the use of food humectants. Some of the key factors such as the inclination of consumers toward nutritional and functional food & beverages, along with sugarless food additives are driving the growth of the food humectant market.

Increasing utilization of food humectants in the production of various food products across the globe is a key factor expected to drive the growth of the global food humectants market over the forecast period. Increasing the use of humectants as a food additive due to various benefits of food humectants such as improvised moisture content and flavors, increased nutritional value, cost-effectiveness, and ease of use is another factor expected to support the growth of the target market over the forecast period.

In addition, growing awareness regarding low-calorie and healthy food & beverage products among individuals across the globe due to changing consumer lifestyles is another factor supporting the growth of the global market.

Key Market Trends

Increasing Demand For Ready-to-Eat Food

With the changing consumer lifestyles and busy schedules, people are giving preference to products with high shelf life. Ready-to-eat foods are precooked, pre-cleaned, mostly packaged, and ready for consumption without prior preparation or cooking, they are highly preferred for the convenience they offer. Ready-to-eat products are driving the use of food humectants as it help to maintain the moisture of the product. Moreover, A variety of crystalline sorbitol granulations are available to support applications such as frosting, icing, chewing gum, mints, and tablets driving the sale. Thus, sorbitol was highly incorporated in 57% of new product launches that contained bulk sweeteners. Thus, Players are expanding their production units to cater to the demand. For instance, In 2020 Cargill invested USD 100 million in its sweetener plant, PT. Sorini Agro Asia Corporindo, in Pandaan, to build a wet corn mill and add a starch dryer to better serve the growing customer demand for corn-based starches, sweeteners (Sorbitol, Glucose, Maltodextrin), and animal feed ingredients.

Asia-Pacific is the Fastest Growing Region

Asia-Pacific will witness a higher growth rate due to the growing demand for functional and nutritional food products coupled with changing lifestyle of consumers are adopting a healthy lifestyle, owing to the rising disposable income coupled with increasing demand for functional and nutritional food which supports the market growth, especially in countries like China and India. India is the fastest-growing market in the region. In India, diabetes and obesity are mostly associated with unhealthy food consumption habits. Awareness among sugar consumers in the country regarding its health risks has fueled the growth of low- or zero-calorie foods that are manufactured using polyols such as sorbitol, mannitol, maltitol, and xylitol. The growing awareness about food additives is further expected to fuel the market growth during the forecast period.

Competitive Landscape

The global food humectants market is highly competitive with the presence of key players operating in the market, such as Roquette Freres, Barentz, BASF SE, Corbion N.V., DowDupont, Ashland., BASF SE, Ashland Global Holdings Inc, Archer Daniels Midland., Brenntag AG, among other domestic and global players. Most companies are focusing on innovation and product launches in order to meet consumers' increasing demand and maintain their significance in the global food humectants market.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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