Asia-Pacific food hydrocolloids market is projected to grow at a CAGR of 4.89% during the forecast period (2020-2025).
- 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 growing working population, resulting in consumer demand for convenience and processed food, especially among the emerging nations, is an opportunity for manufacturers to adopt hydrocolloids in the region.
- Furthermore, key players in the market are continuously focused on R&D to provide innovative products to cater to their growing demand in processed & convenience foods.
- However, the market is mainly constrained by demand and supply imbalances. Seasonal changes cause volatility in raw material pricing, thus raising costs for manufacturers. Despite restrains, the market sees huge potential for growth in Asia-Pacific region,.
Key Market Trends
Increasing Application In Beverage Sector
Acidified protein drinks, such as fruit juice and milk- or yogurt-based beverages, alternative milk, and juice drinks, carbonated soft drinks, energy drinks, and others tend to be the highest users of hydrocolloids in the region. Some of the popular hydrocolloids with increasing applications in the beverage sector include gellan gum, xanthan, and pectin. In developing countries like India and other South-East Asian countries, the fast-growing population brings a continuing demand for soft drinks, especially as the climate is quite hot, which in turn is propelling the growth market studied at a faster pace. Moreover, the rising market of overall ready-to-drink beverage across the region is likely to boost the demand for food hydrocolloids to be used in beverage applications across the region.
Regional Overview of Asia-Pacific Food Hydrocolloids Market
Changing lifestyles of consumers and increasing awareness of nutritional food is driving the hydrocolloid market in developing countries, such as India and China. China dominates the hydrocolloids market, followed by India. The increasing population of these regions is driving the market. While the Japanese market for hydrocolloids is increasing due to the increasing demand for convenience food confectioneries, Australian consumers are demanding natural additives and the use of natural hydrocolloids. Indonesia and Thailand are the major sources of seaweed extracts, and unseasonal changes are resulting in demand-supply bottlenecks as a hydrocolloid supply chain depends on the sourcing of raw materials in its manufacturing process. Thus, Asia-Pacific depicts to achieve potential growth for the food hydrocolloids market during the forecast period (2020-2025).
The Africa food hydrocolloids market is fragmented and includes several global and domestic food ingredient companies. Some of the key market players include Cargill, Incorporated, Koninklijke DSM N.V., Cp Kelco, Hawkins Watts Australia PTY Ltd., Archer Daniels Midland Company, DuPont de Nemours, Inc., and others.
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