The Food Hydrocolloids Market was worth USD 9,928.5 million in 2021 and is expected to reach USD 13,381.3 million by 2028, growing at 5.1 percent CAGR.
Food Hydrocolloids Market
The Food Hydrocolloids Market size was worth around USD 9,928.5 million in 2021 and is estimated to grow to about USD 13,381.3 million by 2028, with a compound annual growth rate (CAGR) of approximately 5.1 percent over the forecast period. The report analyzes the Food Hydrocolloids Market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Food Hydrocolloids Market.
Food hydrocolloids are food additives that are used in food processing to increase the quality and shelf life of the product. The increased customer preference for convenience foods indirectly adds to the rising demand for hydrocolloids, which are used as stabilizers, binding agents, and thickening agents in convenience foods. In addition, due to the customers' hectic lifestyles, the processed food business is driven by a higher need for convenience. As a result, the need for hydrocolloids rises.
The food hydrocolloid market is expected to grow over the forecast period due to an increase in consumer disposable income. Developing nations, particularly those in the Asia Pacific area with an emerging economy, are rising individual per capita income, which will fuel the industry's expansion. Moreover, the diverse applications of hydrocolloids in food, new techniques, or sophisticated phases in food processing have been introduced. Food manufacturers are using novel food processing processes and are looking for new hydrocolloids that can perform the desired functionalities.
The global food hydrocolloids market is expanding due to increased demand for processed foods. Demand for convenient (processed) foods is being driven by rapid urbanization, rising salaries, and increased employment options for women. The move toward the production of processed foods and distribution through supermarkets and local convenience stores, particularly in metropolitan areas, has altered supply chains. Processed food manufacturers primarily focus on product differentiation in order to compete in the market. Furthermore, food hydrocolloids are utilized to thicken and stabilize compositions in processed foods in technical and regulated applications. This collection of components contributes to the viscosity, texture, and body of processed meals. As a result, rising demand for processed food products will propel the projection period.
Manufacturers in the hydrocolloid market confront obstacles such as changing environmental rules, pricing policies, and infrastructure improvements. In addition, adherence to international quality standards and regulations, as well as harsh conditions caused by the COVID-19 pandemic, are projected to stymie the hydrocolloids market's growth. Moreover, the global market is changing toward sugar-free or low-sugar food products. The bulk of food processing and manufacturing units today use new sweeteners or salts to generate these food products. Pectin is used in food processing to lower sugar, which is considered to replace hydrocolloids at a considerable rate.
The COVID-19 disease epidemic has disrupted the global economy, and the food and beverage industry has been harmed as a result of this pandemic. As food consumption habits have changed, so have the production and utilization of food ingredients around the world. COVID-19 had a minor impact on the market. Given the pandemic scenario, it had a detrimental influence on the demand for various hydrocolloids from the corresponding food and beverage sector, which saw a drop. Furthermore, the pandemic had resulted in a short-term decrease in general demand for on-the-go snacks and beverages. Compliance with international quality standards and regulations, as well as harsh conditions caused by the COVID-19 pandemic, are projected to stymie the expansion of the hydrocolloid industry. However, as limits have been relaxed, manufacturing and sales of food and beverage products have expanded significantly. This has turned out to be a promising element for the food hydrocolloids business.
The Food Hydrocolloids Market is segregated based on Type, Application, Source, and Function.
By Type, the market is classified into Gelatin, Carrageenan, Xanthan Gum, Alginates, Agar, Pectin, Gum Arabic, Locust Bean Gum, and Others. During the projection period, the gelatin gum segment will see significant market share growth. The huge increase in processed food demand will fuel the expansion of the gelatin gum segment and, as a result, the market in focus over the forecast years.
By Application, the market is classified into Bakery and Confectionery, Meat and Poultry Products, Beverages, Dairy Products, Sauces and Dressing, and Others. The Bakery and Confectionery Segment is expected to dominate the market in the forecast period. Hydrocolloids are used in bakeries and confectionery to prevent staling and improve food freshness even after freezing. The structural changes in wheat aid in the storage of bread by boosting water retention capacity and preventing ice crystal formation during frozen storage. These products do not interfere with the flavor and aroma of baked and confectionery products, and they have the added benefit of being low in fat.
By Source, the market is classified into Plant, Animal, Microbial, Seaweed, and Synthetic. The animal source sector is projected to emerge as the most widely used source because of the extensive availability of animal by-products as raw materials for manufacturing hydrocolloids. It is made from the skin, bones, and hides of animals such as cows, pigs, and fowl. It is the preferable source of choice since it encourages the full usage of animals grown primarily for meat, resulting in zero waste generation. Nowadays, producers are developing goods that enable full traceability and encourage animal welfare, which aids in the delivery of safe products and provides attractive chances for the industry to grow.
|Report Attributes||Report Details|
|Report Name||Food Hydrocolloids Market Research Report|
|Market Size in 2021||USD 9,928.5 Million|
|Market Forecast in 2028||USD 13,381.3 Million|
|Compound Annual Growth Rate||CAGR of 5.1%|
|Number of Pages||190|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Key Companies Covered||De Pont De Nemours & Company, Cargill Incorporated, Darling Ingredients, Kerry Group plc, CP Kelco, Fuerst Day Lawson, Ingredion Incorporated, Ashland Inc., Koninklijke DSM N.V., Rico Carrageenan, Archer Daniels Midland Company, Hispanagar, S.A, CEAMSA, FMC Corporation, Lubrizol Corporation, Jungbunzlauer, B&V SRL, Tate, Lyle PLC, Fiberstar, Inc.|
|Segments Covered||By Type, By Application, By Source, By Function, And By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)|
|Countries Covered||North America: U.S and Canada
Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe
APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific
Latin America: Brazil, Argentina, Chile
The Middle East And Africa: South Africa, GCC, Rest of MEA
|Historical Year||2016 to 2020|
|Forecast Year||2022 - 2030|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
During the projected period, North America will be the fastest-growing market for hydrocolloids. Given the region’s food habits and eating habits, there is a specific demand for chemicals for oil and fat reduction. It works as a barrier for oil and fat in breaded/fried foods that are widely consumed in the region. Calorie-dense fat and oil can be substituted with what is effectively structured water by employing hydrocolloids. As a result, consumers would like products that are low in oil and fat, which is achievable with the right use of hydrocolloids. The United States is one of the most important markets for hydrocolloids. With the large growth in the number of health-conscious consumers, the country's market for hydrocolloids is likely to expand further.
Asia-Pacific is one of the fastest-growing markets for food hydrocolloids. The region's demand for processed meals and fast foods is expected to rise as a result of increased demand. The product's functional and clean-label perspective has led to its use as a stabilizing and texturizing component, as well as its adoption as an ingredient by numerous food and beverage producers. The expanding demand for clean-label and natural food components such as stabilizers and thickening agents, as well as the growing population, have raised the need for hydrocolloids. Furthermore, hydrocolloid manufacturing bases in Thailand, India, China, and Indonesia help to drive regional prosperity.
Some of the main competitors dominating the Food Hydrocolloids Market include -
The increased customer preference for convenience foods indirectly adds to the rising demand for hydrocolloids, which are used as stabilizers, binding agents, and thickening agents in convenience foods. In addition, due to the customers' hectic lifestyles, the processed food business is driven by a higher need for convenience.
According to the Market Research report, the Food Hydrocolloids Market size was worth about 9,928.5 (USD million) in 2021 and is predicted to grow to around 13,381.3 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 5.1 percent.
During the projected period, North America will be the fastest-growing market for hydrocolloids. Given the region’s food habits and eating habits, there is a specific demand for the chemical for oil and fat reduction. As a result, consumers would like products that are low in oil and fat, which is achievable with the right use of hydrocolloids.
Some of the main competitors dominating the Food Hydrocolloids Market include - De Pont De Nemours & Company, Cargill Incorporated, Darling Ingredients, Kerry Group plc, CP Kelco, Fuerst Day Lawson, Ingredion Incorporated, Ashland Inc., Koninklijke DSM N.V., Rico Carrageenan, Archer Daniels Midland Company, Hispanagar, S.A, CEAMSA, FMC Corporation, Lubrizol Corporation, Jungbunzlauer, B&V SRL, Tate, Lyle PLC, Fiberstar, Inc.
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