iCrowdNewswire Jan 7, 2021 3:48 PM ET
In its recently published research report, the market is expected to register a phenomenal CAGR throughout the forecast period (2018-2023). Increased absorption of bleaching agents by the prominent end-use industries would attribute to the growth of the market. Other factors fueling the growth of the bleaching agents market include growing population and improving economic conditions that have substantiated the industrialization, urbanization, and consumer purchasing power.
Increasing demand for bleaching agents-based products and favorable government regulations are expected to expand the size of the market during the review period, 2018-2023. On the other hand, spreading awareness among consumers towards the toxicity level associated with bleaching agents would present challenges to the growth of the market over the forecast period.
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Suppliers buy raw products and blend it from different sources to achieve a specific product. Over time they change suppliers but through careful quality control to the extent that their customers often do not realize their product is coming from different sources with different shipments. Increasingly customers are connecting with suppliers on other continents, not infrequently this has led to misunderstandings and delivery of bad or variable product.
Players leading the global Bleaching Agents Market include Aditya Birla Chemicals (Grasim – India), BASF SE (Germany), Evonik Industries AG (Germany), Akzo Nobel N.V. (Netherlands), Solvay Chemicals Inc. (US), Hawkins, Inc. (US), Spectrum Laboratory Products, Inc. (US), Peroxychem (US), Kemira Oyj (Finland) and Gujarat Alkalies and Chemicals Ltd. (India)
Industry/ Innovation/ Related News
Well-positioned in high-margin specialty applications, PeroxyChem manufactures hydrogen peroxide (H2O2) and peracetic acid (PAA). These two oxidants have multiple application fields, such as a bleaching agent in the pulp industry, disinfectant in food processing, or for wastewater treatment.
The report is segmented into three key market dynamics to widen the scope of understanding,
By Application: Dairy, Bakery, and Convenience Food, among others.
By Regions: Europe, Asia Pacific, North America, and the Rest-of-the-World.
The European region is expected to retain its dominance over the Global Bleaching Agents Market throughout the forecast period. Due to the high consumption of bread and bakery products, the demand for flour bleaching agents is quite high in the region.
The Asia Pacific bleaching agents market would witness the fastest growth. Factors such as the rapid industrialization and the presence of numerous producers, coupled with the availability of cost-comprehensive labor-force and growing exports substantiate the regional market growth. Some of the rapidly developing APAC countries, India, China, and Japan account for the major contributor to the market growth.
Rising population, rapid urbanization, and the adoption of global food trends are driving the consumption of cheese and flour-based baked products, such as bread, pizzas, burgers, cakes, and pastries. This, alongside, the increase in the number of Quick Service Restaurants (QSR), have boosted the demand for convenience foods in this region.
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