Acetum Market - Forecast(2023 - 2028)

Acetum Market Overview

Acetum Market size is estimated to reach $1.9 billion by 2027, growing at a CAGR of 2.3% during the forecast period 2022-2027. Acetum is widely delineated as vinegar and it is a dilute solution of a chemical compound acetic acid and other compounds. Vinegar is nothing more than a sour solution with 5-8% acetic acid taken into account as a condiment in several foods’ preparation. It is generally fabricated artificially through the oxidation of beer and cider. Acetum has a wide range of applications from the food and beverages industry to pharmaceuticals. Preparation of various food-related items such as salad dressings, vinaigrettes, pickling liquids, marinades, and many more includes the usage of vinegar to adjust and add flavor richness. Besides, flavor enhancement due to lower pH value acts as an effective food preservative. Moreover, it finds several applications in the cosmetics and pharmaceutical industry too. Vinegar indorses smooth flow of the blood in capillaries and reduces skin snags such as irritation and peeling. Therefore, the Acetum Market outlook is exceptionally enchanting due to its far-ranging applications. Heightening demand for dietary supplements, changing consumer taste and preferences, accruing disposable income, and budding demand for cosmetic products are factors set to drive the growth of the Acetum Market for the period 2022-2027. 

Report Coverage

The report: “Acetum Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Acetum Market.

Key Takeaways

• Geographically, the Europe Acetum Market accounted for the highest revenue share in 2021. However, the Asia-Pacific is anticipated to grow with the fastest CAGR over the forecast period 2022-2027.
• Augmenting cosmetics demand and the rising trend of ready-to-eat foods are said to be preeminent drivers of the growth of the Acetum Market. Health complications with excess consumption, and proliferating health consciousness among people driving them toward organic options are the factors said to reduce the market growth.
• Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Acetum Market report.

Acetum Market Segment Analysis - By Product Type

The Acetum Market based on the product type can be further segmented into malt vinegar, apple cider vinegar, balsamic vinegar, white and red wine vinegar, and others. The balsamic vinegar segment held the largest share in 2021. The growth is owing to the utmost effectiveness of balsamic vinegar in ailment treatments owing to the fact that it exhibits antioxidants like quercetin, vitamin C, and antimicrobial properties. Consequently, it helps in reducing the risk of cerebrovascular maladies by preventing blood vessel coagulation. Moreover, it acts as a scavenger by targeting and destroying toxic cells that are responsible for the escalation of unhealthy cholesterol. However, the red wine vinegar segment is estimated to be the fastest-growing with a CAGR of 3.4% over the forecast period 2022-2027. This growth is owing to the top-notch tangy flavor offered by it. Due to its flavor, red wine vinegar is becoming part of kitchens worldwide with its place in a variety of cuisines. Besides, it is proved beneficial in lowering high cholesterol levels and blood triglycerides augmenting the product demand.

Acetum Market Segment Analysis - By Distribution Channel

The Acetum Market based on distribution channels can be further segmented into offline platforms (hypermarkets/supermarkets, convenience stores, local retail stores, and others), and online platforms. The offline segment held the largest share in 2021. The growth is owing to the wide-scale presence of offline retail outlets. Unlike online platforms, they cover all urban and pastoral areas. In this modern era due to busy lifestyles, consumers prefer these modern retail outlets as they confer options of buying everything in a single place. On another hand, to tap the untapped potential companies are expanding their presence in the countryside too. On another hand, many times hypermarkets are built alongside malls and PVRs which act as a potent trigger and allure consumers to make a purchase. Furthermore, the online segment is estimated to be the fastest-growing with a CAGR of 3.6% over the forecast period 2022-2027. This growth is owing to expanding digitalization and 24/7 excess to the internet. Moreover, online purchases extend several conveniences as they save overall shopping time. Further, the COVID-19 outbreak has driven many consumers toward online shopping, thus, fueling the segment growth. 

Acetum Market Segment Analysis - By Geography

The Acetum Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. Europe held the largest share with 39% of the overall market in 2021. The growth in this segment is owing to the factors such as the presence of the biggest vinegar producers and exporters in the region. According to a report published in 2021, Italy was the largest producer of vinegar. Moreover, according to Eurostat 2021, European countries account for more than 50% of total vinegar consumption worldwide. With 85-90 million liters production of balsamic every year Italy exports to more than 100 countries. On another hand, the proliferating culture of ready-to-eat foods such as pizza, sandwiches, and burgers throughout Europe inclusive of countries like Switzerland, the UK, Germany, France, and others have emerged as countries with broadened vinegar imports. However, Asia-pacific is expected to be the fastest-growing segment over the forecast period 2022-2027. This growth is owing to intensifying western culture and rapid modernization. On another hand, soaring purchasing power with economic prosperity is another reason driving the growth of the Acetum Market in Asia-Pacific.

Acetum Market Drivers

Proliferating demand for ready-to-eat food (RTE) is Anticipated to Boost Product Demand.

Ready-to-eat foods are becoming an indispensable part of people’s lives. The consumption of foods like burritos, cooked meat, sandwiches, desserts, burgers, smoked fish, pizza, and many more are tipping off the scale. Rising social media influence, doorstep deliveries, and the busy lifestyles of people are some of the few prominent factors behind this plunging trend. According to Signal Station Pizza, around 350 slices of pizza are eaten in the United States every second. Similarly, people in the Nordic country consume around 5kg of pizza every year. Besides, RTE consumption by social media users is upsurging day after day. According to Kepios, there are 4.65 billion social media users around the world as of April 2022, equating to 58.7 percent of the total global population. Social media user numbers have continued to grow over the past 12 months too, with 326 million new users joining social media since this time last year. Therefore, it is becoming easy for companies to market to a larger chunk of the population within a fraction of seconds.

Heightening competition and plunging disposable incomes are Expected to Boost Product Demand.

In order to attain a strategic advantage over competitors’ companies are dedicating additional efforts to producing state-of-the-art products with enhanced and novel varieties. Therefore, rising competition in the market is acting as a sizable driver in the growth of the Acetum Market. Moreover, proliferating disposable income of people is another factor contributing its fair share to the growth. For instance, European nations such as Luxembourg and Ireland have GDP per capita of over $100,000. Likewise, many people in Asian nations such as China and India are enjoying healthy lifestyles owing to expanding economies. For instance, China's GDP surpassed the global average in 2021 to reach a GDP per capita of above $12,000. These factors are supporting the growth of the Acetum Market.

Acetum Market Challenges

Health hitches linked with excessive use are Anticipated to Hamper Market Growth.

Due to the COVID-19, the overall demand for RTE products is decreasing as people are cooped up inside their homes all day. Restaurants, cafes, and entertainment facilities like PVRs, and amusement parks, are closed which is keeping people from unnecessary expenses. Roughly 80,000 restaurants have temporarily or permanently closed since the start of the pandemic, according to estimates from the National Restaurant Association, down from 110,000 at the peak of the pandemic. On another hand, with augmenting prevalence of diseases like obesity and heart attack, people are turning more health-conscious and making more rational choices. Therefore, rather than eating unhealthy fast foods, people have inclined more toward organic options which can be a serious challenge for Acetum Market growth. 

Acetum Industry Outlook:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Acetum Market. Key companies of this market are-

1. Kraft Heinz
2. Borges Branded foods
3. Acetifici Italiani Modena
4. Mizkan group
5. Shanxi Cuisine
6. Kerry Group (Fleischmann’s Vinegar Company)
7. Woeber Mustard Manufacturing Company
8. St Botanica
9. White House Foods
10. Aspall Cyder

 Recent Developments/Product Launches:

• On September 14, 2021, Tralee, Ireland-based famous nutritional solutions developer “Kerry group” successfully acquired US-based chemical manufacturing company “Niacet Corporation.” Kerry group claimed it to be the biggest ever acquisition made by the company as it made a payment of $1 billion in order to conclude the process.
• On August 10, 2021, vinegar producing company “Mizkan America”, a subsidiary of Japan-based “Mizkan Group” announced the successful acquisition of US-based company “Born Simple.” Born Simple is known for its barbecue sauce and broth. Even though the financials of the deal weren’t disclosed, however, the company claimed that the transaction will help it in diversifying its existing portfolio of vinegar sauce and pasta.
• In August 2020, Dabur India Ltd launched its new “Dabur Himalayan Apple Cider Vinegar”. The product was exclusively launched on Amazon India. This launch also indicated that the companies are expanding their reach via online channels in order to achieve a greater customer base.?

Relevant Links:

Functional Food and Nutraceuticals Market – Forecast (2022 - 2027)

Report Code: FBR 0003

Food Additives Market-Forecast (2021 – 2026)

Report Code: FBR 96740

Acetic Acid Market - Forecast(2022 - 2027)

Report Code: CMR 0159 

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