The global hydrocolloids market was valued at USD 9.07 billion in 2019 and is forecasted to grow from USD 17.55 billion in 2020 to USD 13.30 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.36% during the forecast period. Asia Pacific led the market in 2019, accounting for a dominant 37.93% market share. Meanwhile, the U.S. hydrocolloids market is expected to experience significant growth, reaching an estimated value of USD 2.50 billion by 2032, driven by the increasing use of hydrocolloids in the production of various food products.
Hydrocolloids refer to a diverse group of polysaccharides that form gel-like substances when dispersed in water. Extracted from sources such as plants, microbes, animals, and seaweed, they have gained significant popularity among manufacturers globally. Their versatility makes them indispensable in industries like food and beverages, cosmetics, and pharmaceuticals, where they are valued for their thickening, gelling, stabilizing, and textural improvement properties. The rising demand for convenience foods has driven manufacturers to incorporate hydrocolloids extensively in processed food products, a trend expected to propel sales in the coming years.
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 set for significant growth in the coming years, driven by the rising global demand for natural, nutrient-rich foods incorporating hydrocolloids. Renowned for their functional and health-enhancing properties, hydrocolloids are expected to cater to consumer preferences for clean-label, wholesome products, fueling the industry's expansion.
WHAT DOES THE REPORT PROVIDE?
The report delivers qualitative and quantitative insights into the key drivers and challenges influencing industry growth. It offers a detailed analysis of regional trends and market dynamics, providing a comprehensive view of the competitive landscape.
Key features include a focus on strategies such as joint ventures, product innovations, and collaborations adopted by leading companies to boost market growth. The report also highlights industry developments and emerging trends projected to shape the market from 2020 to 2027. A variety of research methodologies, including Porter’s Five Forces analysis, are employed to ensure the reliability of the findings.
DRIVING FACTORS
Rising Demand for Convenient Food Products to Boost Growth
The increasing consumer awareness about clean-label food products and their nutritional benefits is anticipated to drive the use of hydrocolloids. These additives are gaining popularity globally, supporting their widespread adoption. Moreover, growing health concerns over high-fat foods like pizza and burgers are encouraging a shift towards healthier eating habits, which is likely to further accelerate the hydrocolloids market growth.
REGIONAL INSIGHTS
Asia-Pacific to Lead; Manufacturing Hubs to Drive Growth
Asia-Pacific is expected to dominate the global hydrocolloids market during the forecast period, supported by the strong presence of production facilities in countries like Thailand, India, Indonesia, and China. In 2019, the region’s hydrocolloids-related GDP was valued at USD 3.44 billion.
In North America, the market is projected to witness substantial growth between 2020 and 2027, driven by increasing demand for fortified convenience foods. This trend is expected to boost the adoption of hydrocolloids, contributing to regional market growth.
COMPETITIVE LANDSCAPE
Key Players Focus on Facility Expansion to Strengthen Market Presence
The hydrocolloids market is largely consolidated, with major companies dominating the global landscape. To meet the growing demand for functional food products, these companies are expanding their manufacturing capacities and developing innovative solutions. Additionally, strategies such as partnerships, product launches, and mergers and acquisitions are being employed to drive growth during the forecast period.
Industry Development:
In November 2018, CP Kelco, a subsidiary of J.M. Huber Corporation, announced a 15% increase in pectin production capacity at its Denmark facility. This expansion aims to bolster the company’s global market position and address the rising demand for clean-label ingredients in functional foods. The increased production capacity enables CP Kelco to better serve the growing consumer preference for natural, label-friendly ingredients.
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