The rising urban population in emerging countries across Southeast Asia has fuelled the demand for food emulsifier. Urban living can get hectic as a result of which the demand for convenient and packaged food has greatly escalated in the past few years. This incrementally rising demand for packaged foods is a chief driver of the food emulsifier market in Southeast Asia. In addition, the market is expected to gain significantly from the expansion of the bakery and confectionary and functional foods industries in the region.
The reports has pegged the Southeast Asia food emulsifier market at US$173.3 mn in 2014. Exhibiting a steady 5.1% CAGR between 2015 and 2021, the market is forecast to reach US$248.3 mn by the end of 2021. Based on application, the demand for emulsifier in Southeast Asia is likely to be the highest in the bakery and confectionary segment.
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Besides this, the market is expected to witness demand from meat products, dairy products, convenience foods, and other segments. In terms of country, the emulsifier market in Thailand, Indonesia, Vietnam, Malaysia, and Rest of Southeast Asia is expected to lucrative prospects in the coming years. Among these countries, Indonesia and Malaysia is projected to emerge dominant, holding 38.2% and 25.2% of the overall market, respectively by 2021.
Stringent Regulations May Restrain Growth in Coming Years
On the downside, stringent regulations implemented on countries such as Singapore and Thailand can curtain the use of food emulsifiers, thus negatively impacting the overall Southeast Asia food emulsifier market. Furthermore, organizations such as FDA maintain a strict safety standards to ensure that preservatives are safe for their intended use. Such stringent regulations can restrain the market to an extent.
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Nonetheless, the use of food emulsifiers as additives while processing victuals is forecast to rise at an accelerated pace. Because they have a broad application spectrum from meat processing to bakery, the demand for food emulsifiers will rise progressively during the course of the forecast period. Furthermore, rapid industrialization and expansion of the food and beverages industry in Asia Pacific will pave the way for the market’s steady growth in the coming years. Also, changing consumer preference with regards to texture, quality, nutritional value, and taste of victuals is likely to boost the Southeast Asia food emulsifier market in the coming years.