Hydrocolloids Market Predictions Exhibit Massive Growth by 2025
by Mit K. SEOThe hydrocolloids
market was valued at USD 9.7 billion in 2020 and is projected to reach
USD 12.6 billion by 2025, at a CAGR of 5.3%. The growth of the hydrocolloids
market is driven by factors such as the expansion of the processed food
industry due to the increasing demand for convenience foods in regions such as
the Asia Pacific, South America, and the Middle East & African. Apart from
this, manufacturers are engaged in R&D to offer high-quality hydrocolloids
due to its multi-functionality in the food industry.
The key players in the hydrocolloids market include Dupont
(US), Ingredion (US), Cargill (US), Kerry (Ireland), Archer Daniels Midland
Company (US), Palsgaard (Denmark), Darling Ingredients (US), CP Kelco (US),
Ashland (US), BASF (Germany), Tate & Lyle (UK), Glanbia (Ireland), Fuerst
Day Lawson (UK), Koninklijke DSM N.V (Netherlands), and Nexira (France) are the
players that hold a significant share in the hydrocolloids market.
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Market Dynamics
DRIVER: Rise in
consumption of premium food & beverage products
The increase in consumer preference for convenience foods
indirectly contributes to the rise in demand for hydrocolloids required as
stabilizers, texturants, binding agents, viscosity, and thickening agents in
these convenience food products. The processed food market is driven by the
greater need for convenience due to the busy lifestyles of consumers. This, in
turn, increases the demand for hydrocolloids. The hydrocolloids industry has a
positive outlook due to high growth in the food processing industry. A leading
food journal estimates that about 35% of the American population consumes at
least three prepared convenience food products in a week, and this is projected
to grow to about 40% of the population in the future. The expenditure of the
American population on home-prepared meal ingredients decreased from roughly
70% of the total expenditure in the 1960s to 53% in the 2000s, with increasing
expenditure on convenience foods. Consumer preference in emerging economies
such as China, India, Japan, Africa, and countries of the Middle East have
gradually transitioned from traditional home-made breakfasts and snacking meals
to ready-to-eat products, custom quick meals, and one-dish meals over the last
couple of decades.
OPPORTUNITY: Increase
in investments in research & development
Hydrocolloids are largely utilized in processed and
convenience foods. These products require food additives such as hydrocolloids
that impart proper texture, viscosity, mouthfeel, and shape to the food. The
wide application of hydrocolloids in food has led to the introduction of new
procedures or complex steps in food processing. Food manufacturers are adopting
sophisticated food processing methods and are demanding new hydrocolloids that
can impart the desired functions.
Companies are investing highly in R&D to adjust the
formulation of existing products and cater to customer requirements. Companies
are innovating new products to benefit their customers. The rise in health concerns
& the resultant consumer demand for healthy products and the requirement of
custom-made hydrocolloid blends drive companies to invest more in research
& development. Manufacturers are also thriving to develop cost-saving
hydrocolloids that may enable them to manage the use of costly raw materials
and other additives.
The gelatin segment
is estimated to be the largest in 2020
The hydrocolloids market, by type, is estimated to be
dominated by the gelatin segment. The usage of gelatin as a gelling agent is
projected to grow due to the increasing need for emulsifiers in the food &
beverage industry in major markets such as Germany, the UK, and France. It is
commonly used in candies, desserts, marshmallows, and ice creams. Gelatin
functions as a texturant, gelling agent; it releases flavor and imparts proper
mouthfeel to food products.
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The food &
beverage segment is estimated to be the largest in 2020
The hydrocolloids market, by application, is estimated to be
dominated by the food & beverage segment. Hydrocolloids are used in food
& beverages to increase viscosity, ensure particle suspension, improve
mouthfeel, and enable fiber addition. These polymers are widely used in many
food formulations to improve their quality and shelf life.
The North America is
projected to account for the largest market share during the forecast period
North America is a dominant region in the global
hydrocolloids market. Factors influencing its market dominance include the high
demand for functional dairy products, convenience foods, higher per capita
consumption of baked goods, and presence of major players. Consumers in the US are calorie-conscious due
to which low-calorie and low-fat foods are popular in the country. The
increasing prevalence of obesity and cardiac diseases has led consumers to
demand natural and low-calorie food products. Food manufacturers are therefore
concentrating on the application of natural hydrocolloids and their function as
fat replacers.
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Created on Nov 6th 2020 06:24. Viewed 262 times.