“The hydrocolloids market is projected to grow at a CAGR of 5.3% in terms of value.”
The hydrocolloids market is estimated at USD 8.8 billion in 2018 and projected to grow at a CAGR of 5.3%, to reach USD 11.4 billion by 2023. The growth of the hydrocolloids market is driven by factors such as the expansion of the processed food industry due to the increase in demand for convenience foods in the emerging countries of the Asia Pacific, South America, and the Middle East & African regions. Key drivers for the market’s growth include a robust R&D base, as manufacturers are focusing on with product innovations to offer high-quality hydrocolloids for the end-user industries and the multifunctionality of hydrocolloids. One of the major restraints for the growth of the hydrocolloids market includes adherence to international quality standards and regulations regarding food additives such as stabilizers and fluctuations in raw material prices.
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“The thickeners segment for hydrocolloids is estimated to account for the largest share in 2018.”
Based on function, the thickeners segment is estimated to account for the largest share in the hydrocolloids market in 2018. Hydrocolloids are widely used as thickeners in various food products such as soups, salad dressings, gravies, sauces, and toppings. Key hydrocolloids used as thickeners include xanthan gum, guar gum, locust bean gum (LBG), gum Arabic, and carboxymethyl cellulose (CMC).
“The animal segment for hydrocolloids is estimated to account for the largest share in 2018.”
Based on source, the animal segment is estimated to account for the largest share in the hydrocolloids market in 2018. Hydrocolloids of animal origin are produced using skins and bones of different sources, such as beef, pork, and fish. Gelatin is one of the major hydrocolloids derived from animal sources having applications in the confectionery industry.
“The gelatin segment for hydrocolloids is estimated to account for the largest share in 2018.”
Based on type, the gelatin segment is estimated to account for the largest share in the hydrocolloids market in 2018. Gelatin is derived from animal sources and has applications in food products such as candies, desserts, marshmallows, and ice creams. In Europe, gelatin is classified as food and is not subjected to food additive legislation. This is projected to create a lucrative opportunity for hydrocolloids manufacturers in the coming years.
“The food & beverages segment for hydrocolloids is estimated to account for the largest share in 2018.”
Based on application, the food & beverages segment is estimated to account for the largest share in the hydrocolloids market in 2018. The demand for hydrocolloids is projected to increase in the coming years due to its multifunctionality in the food industry and the rise in demand for convenience foods in emerging countries.
“The North American hydrocolloids market is projected to witness significant growth.”
The North American region is projected to be the fastest-growing market during the period considered for this study, due to the presence of major players such as Ashland (US), TIC Gums (US), CP Kelco (US), Cargill (US), Ingredion (US), and Darling Ingredients (US) operating in the region. The region is backed by the US, a major revenue pocket market for bakery, confectionery, convenience food, and packaged food products.
Break-up of Primaries:
- By Company Type: Tier 1 – 45 %, Tier 2 – 33%, and Tier 3 – 22%
- By Designation: C -level – 45%, D-level – 33%, and Others* – 22%
- By Region: North America – 11%, Europe- 11%, Asia-Pacific – 44% and RoW– 34%,
*Others include sales managers, marketing managers, and product managers.
**RoW includes South America and the Middle East & Africa.
Leading players profiled in this report:
- Archer Daniels Midland Company (ADM)
- Darling Ingredients
- CP Kelco
- Tate & Lyle
- Fuerst Day Lawson (FDL)
- Koninklijke DSM N.V
- The report segments the hydrocolloids on the basis of source, type, function, application, and region. In terms of insights, this report has focused on various levels of analyses competitive landscape, end-use analysis, and company profiles, which together comprise and discuss views on the emerging & high-growth segments of the global hydrocolloids high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
Reasons To buy this report:
- To get a comprehensive overview of the hydrocolloids market
- To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
- To gain insights about the major countries/regions in which the hydrocolloids is gaining popularity