The new report by Expert Market Research titled, ‘Global Food Grade Polyvinyl Acetate Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the global food grade polyvinyl acetate market, assessing the market based on its segments like types, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 10%
The growth in the global market for food grade polyvinyl acetate can be attributed to the rising demand for food grade polyvinyl acetate in different applications in the food and beverage sector. It is used in products like gum candy and fresh fruit, thereby driving the demand for food grade polyvinyl acetate.
Further, the market is growing on account of the rising demand for food-grade polyvinyl acetate in the pharmaceutical industry. Food grade polyvinyl acetate has gained popularity as a substitute for synthetic plastic in food applications in recent years, and it has reduced the risk of contamination, resulting in increased demand for food grade polyvinyl acetate around the world, hence contributing to the growth of the market.
Industry Definition and Major Segments
Food grade polyvinyl acetate (PVA) is defined as a synthetic polymer that is utilised as a chewing gum ingredient. Plasticisers, surfactants that improve coverage, gloss-enhancing additives, and other compounds for specific usages, such as coating sweets and baked items, can all be included in the coating for fresh fruit. The coating saves money by preserving and protecting harvested fruit without bleaching it. Fruits and vegetables can be coated by dipping, spraying, or brushing on the coating.
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By type, the market is divided into:
The leading application of the market includes:
- Gum Candy
- Fresh Fruit
On the basis of region, the market is segmented into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The global market for food grade polyvinyl acetate is anticipated to be led by factors such as increasing awareness about health and safety issues related to plastic materials used in packaging products and stringent regulations on plastics in the coming years. The product is used in fruits to enhance their appearance and make them look fresh. For instance, new apples or citrus fruits with PVA coatings appear fresh and delicious.
Moreover, the development of new manufacturing technologies that ensure the preservation of product’s natural qualities and design is further aiding in the market expansion. In addition, the rising concern in developing countries for food production and preservation, which has led to increased research into the preservation of fresh fruits, is projected to boost the market growth during the forecast period.
Key Market Players
The major players in the market are Wacker, Brenntag Specialties, Vinavil, Jiangsu Yinyang Gumbase Materials, Celanese, Foreverest Resources Ltd., and Nacalai, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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