The hydrocolloids market is anticipated to grow at a compound annual growth rate (CAGR) of 5.36%, reaching an estimated value of USD 13.30 billion by 2032. This growth, projected between 2020 and 2032, is largely driven by increasing demand for convenience foods and the growing preference for clean-label additives like hydrocolloids. According to a recent 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 substances that form gels when mixed with water and are commonly used for their gelling, stabilizing, thickening, coating, and emulsifying properties. In the food and beverage industry, they play a crucial role in extending shelf life and improving product stability. Additionally, hydrocolloids enable the reduction of sugar and salt content in products without affecting their physical characteristics. Some of the most frequently 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
What does the Report Provide?
The market research provides both qualitative and quantitative insights into the key drivers and challenges influencing industry growth. It facilitates market expansion by offering a detailed understanding of regional trends across different areas. The analysis also delves into the competitive landscape, spotlighting leading companies and their strategies, such as joint ventures, product innovations, and collaborations, which are designed to accelerate market growth.
Additionally, the report explores industry developments and trends expected to fuel growth from 2020 to 2027. A variety of research methodologies, including Porter's Five Forces analysis, have been employed to ensure comprehensive data and insights.
DRIVING FACTORS
Increasing Demand for Convenient Food Products to Aid Growth
The use of additives like hydrocolloids is expected to increase as consumers become more aware of the benefits of clean-label food products. The nutritional advantages offered by these products are likely to drive demand and encourage their widespread adoption globally. Additionally, rising health concerns over high-fat foods, such as pizza and burgers, are expected to promote healthier eating habits. This shift toward healthier choices is projected to sustain and potentially accelerate the growth of the hydrocolloids market in the coming years.
SEGMENTATION
Food & Beverages Segment to Hold Major Market Share
The food and beverage industry is expected to experience substantial growth in the coming years, driven by several factors. A key contributor to this growth is the rising global demand for natural, nutrient-rich foods that incorporate hydrocolloids. Renowned for their functional and health benefits, hydrocolloids are anticipated to play a pivotal role in meeting consumer preferences for clean-label and wholesome products, thereby fueling 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 lead the global hydrocolloids market during the forecast period. This dominance is largely due to the significant presence of hydrocolloid production facilities in countries like Thailand, India, Indonesia, and China. In 2019, the Asia-Pacific region's hydrocolloids-related GDP was valued at USD 3.44 billion.
Meanwhile, North America is projected to experience notable growth from 2020 to 2027, driven by the increasing demand for fortified convenience foods. This growing demand is anticipated to boost the region's adoption of hydrocolloids, further contributing to market expansion.
COMPETITIVE LANDSCAPE
Prominent Companies Focus on Facility Expansion to Amplify Their Market Positions
The hydrocolloids industry is largely dominated by a few major corporations, resulting in increasing global market consolidation. To meet the rising demand for functional food products, these industry leaders are focusing on developing innovative hydrocolloids and expanding their manufacturing capacities. Additionally, key companies are utilizing 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 pectin production capacity at its Denmark facility. This expansion is designed to enhance the company's global market position and address the growing demand for clean-label ingredients in functional foods. By increasing production, CP Kelco is better positioned to meet rising consumer preferences 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)
Blog Related Insights:
Comments
0 comment