The hydrocolloids market is projected to grow at a compound annual growth rate (CAGR) of 5.36%, reaching an estimated value of USD 13.30 billion by 2032. Significant growth is expected from 2020 to 2032, driven primarily by rising demand for convenience foods and increasing awareness of the benefits of clean-label additives like hydrocolloids. According to the latest 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 are utilized in various processes, including taste encapsulation, edible coatings, and preventing crystallization. They are also known for health benefits such as providing dietary fiber with low-calorie content. The growing demand for foods with enhanced texture, flavor, and other sensory qualities, along with a consumer preference for products made with natural and nutrient-rich ingredients, is fueling the market's expansion.
Information Source: https://www.fortunebusinessinsights.com/industry-reports/hydrocolloids-market-100552
What does the Report Provide?
The market research offers both qualitative and quantitative insights into the key factors driving and restraining the industry's growth. It supports market expansion by providing an in-depth understanding of regional trends across various areas. Additionally, the analysis covers the competitive landscape, highlighting leading companies and their strategies related to joint ventures, product innovation, and collaborations aimed at accelerating market growth.
The report also examines industry developments and market trends expected to drive growth from 2020 to 2027. To gather comprehensive data and insights, a range of research methodologies, including Porter's Five Forces analysis, has been employed.
DRIVING FACTORS
Increasing Demand for Convenient Food Products to Aid Growth
The adoption of additives like hydrocolloids is expected to rise due to increasing consumer awareness of the benefits of clean-label food products. The nutritional advantages of these products are projected to drive demand and foster their global adoption. Additionally, growing health concerns related to high-fat foods, such as pizza and burgers, are likely to promote healthier eating habits. This shift is anticipated to sustain and potentially accelerate the growth of the hydrocolloids market in the coming years.
SEGMENTATION
Food & Beverages Segment to Hold Major Market Share
It is predicted that the food and beverage industry will experience significant growth in the coming years, driven by several factors. One key factor is the rising global demand for natural, nutrient-rich foods that incorporate hydrocolloids. These ingredients, known for their functional and health benefits, are expected to play a crucial role in meeting consumer preferences for clean-label and wholesome products, further contributing to the industry's expansion.
REGIONAL INSIGHTS
Asia-Pacific to Remain Dominant; Presence of Manufacturing Units to Promote Growth
The Asia-Pacific region is expected to surpass other regions and dominate the global hydrocolloids market during the forecast period. This leadership can be attributed to the significant presence of hydrocolloid production facilities across countries such as Thailand, India, Indonesia, and China. In 2019, the Asia-Pacific region's GDP related to hydrocolloids was valued at USD 3.44 billion.
Meanwhile, North America is projected to see substantial growth between 2020 and 2027. This expansion will be driven by the rising demand for fortified convenience foods, which is expected to fuel the region's adoption of hydrocolloids.
COMPETITIVE LANDSCAPE
Prominent Companies Focus on Facility Expansion to Amplify Their Market Positions
The hydrocolloids industry is primarily dominated by a few large corporations, leading to increasing global market consolidation. To address the growing demand for functional food products, these industry leaders are developing innovative hydrocolloids and expanding their manufacturing capacities. Additionally, major companies are employing strategies such as partnerships, new product launches, and mergers and acquisitions to accelerate market growth throughout the forecast period.
Industry Development:
November 2018: CP Kelco, a subsidiary of J.M. Huber Corporation, announced a 15% increase in its pectin production capacity at its Denmark facility. This expansion aims to strengthen the company's position in the global market and cater to the rising demand for clean-label ingredients in functional foods. By boosting production, CP Kelco is better equipped to meet the growing consumer preference for natural and label-friendly ingredients.
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)
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