COVID-19 Impact on Global pH Controlling Agents Market
- On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 214 countries and territories around the world.
- Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
- The outbreak of the COVID-19 pandemic has led to disturbance in the supply chain due to the global lockdown in several countries. Also, the spread of the coronavirus has led to a fall in demand for chemical intermediates due to uncertainty in the global economy and capital markets.
- The pH controlling agents market has been adversely impacted due to the COVID-19 pandemic and nationwide lockdown of several non-essential activities and manufacturing facilities, which affected various industrial activities in 2020. However, the market is anticipated to expand during the forecast period due to the acceptance of new normal conditions and recovery of various end-use industries.
Key Drivers and Restraints of pH Controlling Agents Market
- Demand for pH controlling agents is expected to increase at a significant rate during the forecast period due to the expansion of the processed food & beverages industry. All pH controlling agents are used as stabilizers, while some are also used for specific purposes such as preservative, chelating agents, antioxidant synergists, flavoring agents, nutrient enhancers, viscosity modifiers, and melting modifiers.
- pH controlling agents might lead to hyperactivity disorder, difficulty in breathing, asthma, allergy or cancer. This is expected to create hurdles for the market during the forecast period.
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pH Controlling Agents Market: Function Segment
- Based on function, the pH controlling agents market has been divided into flavoring agents, preservatives, chelating agents, buffer, gelling agents, and coagulating agents
- The flavoring agents segment dominates the pH controlling agents market
- Lactic acid in food products usually serves either as a pH regulator or as a preservative. It is also used as a flavoring agent. Lactic acids are widely used in processed meat products owing to their key properties including shelf life extension, pathogenic bacteria control, enhancing meat flavor, improving water binding capacity, and reducing sodium levels. Growth in consumer preference toward protein-rich meat consumables and rapid development of processed meat value chain are likely to boost the demand for meat products, thereby propelling the pH controlling agents market.
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Asia-Pacific to Hold Leading Share of Global pH Controlling Agents Market
- In terms of region, the pH controlling agents market can be divided into North America, Europe, North America, Latin America, and Middle East & Africa
- Asia Pacific is expected to hold major share of the global pH controlling agents market, followed by North America and Europe, during the forecast period
- Rise in demand for canned products & beverages has led to an increase in adoption of pH controlling agents during the manufacturing process, mainly for preservation. Increase in pH production of Chinese pH controlling agents has built pressure on western players due to lower manufacturing costs in China.
- Demand for junk food is increasing with the growth in disposable income of the middle-class population. Rise in consumption of junk food in Asia Pacific is expected to drive the demand for pH controlling agents in the region.