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Global Food Hydrocolloids Market is forecasted to grow at a CAGR of 6.5% during the forecast period of (2019-2024).
- The global market for hydrocolloids is largely driven by increased research and development and innovations in hydrocolloids.
- Consumer preference for natural ingredients and the varied applications of hydrocolloids in the food and beverage industry are some of the reasons for the uptick in demand.
- The changing consumer demographics, in terms of lifestyle changes and increasing working population, resulting in consumer demand for convenience and processed foods, especially among the emerging nations.
- Seasonal changes cause volatility in the raw material pricing, thus, raising costs for manufacturers. In spite of these restraints, the market sees huge potential for growth.
Scope of the Report
Global food hydrocolloids market has been segmented by type, application, and geography. Based on type, the market is further segmented into gellan gum, pectin, xanthan gum, guar gum, carrageenan, and other types. Based on application, the market is further segmented into dairy and frozen products, bakery, beverages, confectionery, meat and seafood products, oils and fats, and other applications.
Key Market Trends
High Demand of Gellan Gum
Gelatin differs from other types of hydrocolloids, as it is derived from collagen, an animal protein. Collagen is extracted from bovine (cow), porcine (pig), or piscine (fish) and the properties of gelatins are affected by the source, age, and type of collagen. Gellan gum is an important hydrocolloid in the food industry and is widely used as a food additive in healthy food due to its high content of protein and amino acid. The hydrocolloidal nature of gellan gum has numerous applications in confectionery products (for imparting chewiness, texture, and foam stabilization), jelly deserts (for creaminess, fat reduction, and mouthfeel), dairy products (for stabilization and texturization), and meat products (for water-binding). Further uses of gellan gum include fruit toppings for pastry, instant gravy, instant sauces and soups, edible food films for confectionery products and as a stabilizer in ice cream, cream cheese, and cottage cheese, as well as in food foams and fruit salads.
North America is the Largest Market Segment
North America is one of the largest markets for hydrocolloids; the specific demand for the substance for oil and fat reduction exists in the region given the food habit and eating practices of the consumers. It acts as a barrier for oils and fats in breaded/fried foods consumed heavily in the US. The future growth trend in North America is seen positive given the increasing population being aware and conscious about healthy food and habits. The major types of hydrocolloids in the US hydrocolloid market are gellan gum, xanthan gum, guar gum, locust bean gum, and pectin, among others. Owing to the high prices, gellan gum is witnessing a slow growth from the last few years. The growing confectionery market in the United States is driving the market for hydrocolloids, especially hydrocolloids used in candies as enhancers and stabilizers. Their function as thickeners in the bakery industry is driving the demand for food hydrocolloids.
With several players existing in the market, the global market is highly competitive, however, DowDuPont and Cargill hold significant shares in the market. Strategies of leading players focus on developing innovative solutions that address the taste, texture, and nutritional profile of processed foods, in turn, extending the shelf-life of the final consumer product.
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