Rise In Consumption Of Premium Food & Beverage Products Drives Hydrocolloids Market
by Mit K. SEOThe 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 global 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%.
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On the basis of by type, guar gum is projected to be the fastest growing
segment in the hydrocolloids market. Derived from the guar plant, it finds
applications in the food, pharmaceutical, and cosmetics industries. In the food
industry, it is used as a thickening and binding agent.
It is used in a wide variety of food products such as ice cream, baked goods,
cheese, soups, gravies, noodles, and meat. In addition, it is used in cosmetics
products such as lotions, creams, and shampoos. In the pharmaceutical industry,
it is used as a binder in tablets. Expansion of the food processing industry in
the developing countries is projected to boost the sales of guar gum in the
coming years.
On the basis ofsource, the botanical
segment is projected to be one of the fastest growing segments for the
hydrocolloids market due to the increased demand for natural products and
ingredients. Some of the popular hydrocolloids of botanical origin used by
manufacturers of the food & beverage industry include gum arabic, gum
tragacanth, gum karaya, and gum ghatti.
On the basis of function, the stabilizers
segment is considered to be one of the fastest-growing segment in the
hydrocolloids market. Hydrocolloids used as stabilizers include locust bean
gum, guar gum, carboxymethyl cellulose (CMC), xanthan gum, alginate, and
carrageenan. The increasing demand for convenience foods in emerging countries
is projected to drive the demand for hydrocolloids in the coming years.
North America is the fastest-growing
market for hydrocolloids and is projected to record the highest CAGR during the
forecast period. The North American market is completely driven by the US,
which accounted for nearly 84.0% of the market share in 2019. The US has a
large market for bakery, confectionery, convenience food, and packaged food
products; hence, it constitutes a major share in the market. 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 have led to an increasing demand for natural and low-calorie food
products among consumers. Food manufacturers are therefore concentrating on the
application of natural hydrocolloids and their functions as fat replacers.
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The hydrocolloids market is a developing
one;they are widely used in applications such as bakery, confectionery, meat
& poultry, beverages, dairy & frozen products, and others such as baby
food and prepared food. The growth of the hydrocolloids market is driven by the
rising demand for healthier and natural food ingredients from the food
industry.
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Created on Aug 14th 2020 08:37. Viewed 342 times.