The hydrocolloids market revenue is projected to grow at a compound annual growth rate (CAGR) of 5.36%, reaching an estimated USD 13.30 billion by 2032. This growth, expected from 2020 to 2032, is primarily driven by rising demand for convenience foods and a shift toward clean-label additives like hydrocolloids. According to a report from Fortune Business Insights titled "Hydrocolloids Market Size, Share & Industry Analysis, By Type (Xanthan Gum, Carrageenan, Guar Gum, Gelatin, and Others), Source (Microbial, Animal, Seaweed, and Others), Application (Food & Beverages, Pharmaceuticals, and Cosmetics & Personal Care), and Regional Forecast, 2020–2032," the market was valued at USD 9.07 billion in 2019.
Hydrocolloids, substances that form gels when combined with water, are valued for their gelling, stabilizing, thickening, coating, and emulsifying properties. In the food and beverage sector, they are essential for extending shelf life and enhancing product stability. Hydrocolloids also allow for sugar and salt reduction in products without altering their physical attributes. Some commonly used hydrocolloids include gelatin, alginates, xanthan gum, pectin, guar gum, carrageenan, and carboxymethyl cellulose (CMC).
Information Source: https://www.fortunebusinessinsights.com/industry-reports/hydrocolloids-market-100552
List of the Companies Profiled in the Global Market for Hydrocolloids:
- Kerry Group plc (Tralee, Ireland)
- Koninklijke DSM N.V. (Heerlen, Netherlands)
- Cargill, Incorporated (Minnesota, United States)
- Archer-Daniels-Midland Company (Illinois, United States)
- DuPont de Nemours, Inc. (Delaware, United States)
- Ashland Global Holdings Inc. (Delaware, United States)
- M. Huber Corporation (New Jersey, United States)
- W Hydrocolloids, Inc. (Philippines)
- Ingredion, Incorporated (Illinois, United States)
- Tate & Lyle plc (London, United Kingdom)
SEGMENTATION
Food & Beverages Segment to Hold Major Market Share
The food and beverage industry is poised for significant growth in the coming years, driven by multiple factors. A major contributor to this growth is the increasing global demand for natural, nutrient-dense foods that incorporate hydrocolloids. Known for their functional and health benefits, hydrocolloids are expected to play a crucial role in meeting consumer preferences for clean-label and wholesome products, thus accelerating the industry's expansion.
What does the Report Provide?
The market research offers both qualitative and quantitative insights into the primary drivers and challenges shaping industry growth. It supports market expansion by providing a thorough analysis of regional trends across various areas. Additionally, the report examines the competitive landscape, highlighting key companies and their strategies—such as joint ventures, product innovations, and collaborations—aimed at accelerating market growth.
The report also covers industry developments and trends projected to drive growth from 2020 to 2027. A range of research methodologies, including Porter’s Five Forces analysis, has been utilized to ensure robust data and insights.
DRIVING FACTORS
Increasing Demand for Convenient Food Products to Aid Growth
The use of additives like hydrocolloids is expected to rise as consumers become increasingly aware of the benefits of clean-label food products. The nutritional advantages these products offer are likely to drive demand and foster their widespread adoption globally. Furthermore, growing health concerns over high-fat foods, such as pizza and burgers, are anticipated to encourage healthier eating habits. This shift toward healthier options is expected to support and potentially accelerate the growth of the hydrocolloids market in the years ahead.
REGIONAL INSIGHTS
Asia-Pacific to Remain Dominant; Presence of Manufacturing Units to Promote Growth
The Asia-Pacific region is expected to lead the global hydrocolloids market during the forecast period, largely due to the significant presence of hydrocolloid production facilities in countries such as Thailand, India, Indonesia, and China. In 2019, the hydrocolloids-related GDP of the Asia-Pacific region was valued at USD 3.44 billion.
Meanwhile, North America is projected to see substantial growth from 2020 to 2027, fueled by the rising demand for fortified convenience foods. This growing demand is likely to drive the region’s adoption of hydrocolloids, contributing further to market expansion.
COMPETITIVE LANDSCAPE
Prominent Companies Focus on Facility Expansion to Amplify Their Market Positions
The hydrocolloids industry is primarily dominated by a few major corporations, leading to greater global market consolidation. To address the growing demand for functional food products, these industry leaders are focusing on developing innovative hydrocolloids and expanding their manufacturing capacities. Furthermore, key companies are employing strategies such as partnerships, new product launches, and mergers and acquisitions to drive market growth throughout the forecast period.
Industry Development:
November 2018: CP Kelco, a subsidiary of J.M. Huber Corporation, has announced a 15% increase in its pectin production capacity at its Denmark facility. This expansion aims to strengthen the company’s global market position and cater to the growing demand for clean-label ingredients in functional foods. By boosting production, CP Kelco is better equipped to meet the rising consumer demand for natural, label-friendly ingredients.
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