Food Stabilizers (Blends & Systems) Market Competitive Analysis with Growth Forecast Till 2023
by Mit K. SEOThe food
stabilizers (blends & systems) market is estimated at USD 2.3
billion in 2018, and projected to grow at a CAGR of 4.0%, to reach USD 2.8
billion by 2023. The growth of the food stabilizers (blends & systems)
market is driven by the rising demand for healthier and natural food
ingredients from the food industry.
Drivers of the
Market:
·
The key drivers for the market’s growth are the
increase in consumption of processed food, the multi-functionality of food
stabilizers, and the growth in the use of natural ingredients in foods owing to
the rise in consumer awareness about healthy diet.
·
The growing demand for stabilizers as an
ingredient in bakery products, beverages, and convenience food is expected to
boost the market in developed countries of North America and Europe.
International regulations and quality standards related to food additives are
the restraining factors for food stabilizers (blends & systems) market.
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Based on application,
the beverages segment of the food stabilizers (blends & systems) market is
projected to grow at the highest CAGR during the forecast period.
Based on application, the food stabilizers (blends &
systems) market has been segmented into dairy & dairy products,
confectionery products, convenience foods, bakery products, meat & poultry
products, beverages, sauces & dressings, and others (savories, fruit
salads, condiments, and baby food). The beverages segment is projected to grow
at the highest CAGR during the forecast period. Food stabilizers help to
enhance flavors, and add volume in beverages. Consumption of beverages such as
fruit drinks, alcoholic, and non-alcoholic beverages has been increased among
emerging economies, which has fueled the growth of the beverages segment of the
food stabilizers (blends & systems) market.
Based on source, the
plant segment of the food stabilizers (blends & systems) market is
projected to grow at the higher CAGR during the forecast period.
Plant-derived stabilizers dominated the food stabilizers
(blends & systems) market in 2017. The food stabilizers market is projected
to grow with the increase in demand for natural-based food additives at a
global level. Plant-sourced stabilizers are usually obtained through plant cell
walls, tree exudates, seeds, tubers, and roots. Plant-sourced food stabilizers
include pectin, guar gum, locust bean gum, and gum arabic. Demand for
plant-sourced food stabilizers is increasing due to the rising demand for
natural food additives and increasing trend for vegan food products as well as
the raw material prices are low as compared to the other sources.
Based on function,
the texturizing segment of the food stabilizers (blends & systems) market
is expected to grow at the highest CAGR during the forecast period.
Based on function, the food stabilizers (blends &
systems) market has been segmented into texturizing, stabilizing, moisture
retention, and others (egg replacement, mouthfeel, and synthesis control). The
texturizing segment is projected to grow at the higher CAGR during the forecast
period. Food stabilizers have been used for several years to provide the
desired texture in various food products such as ice cream, yogurt, and baked
products. The consumers prefer purchasing food products that are soft during
consumption and have desirable texture and shape. All these factors have fueled
the overall market growth of food stabilizers.
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The Asia Pacific
region is projected to be the fastest-growing for food stabilizers (blends
& systems) market, in terms of value, between 2018 and 2023.
The Asia Pacific region is projected to be the
fastest-growing market for food stabilizers (blends & systems) for the next
five years. The abundant availability of raw materials such as seaweed and guar
gum, along with the growing popularity of dairy products, beverages, and
convenience food, is a growth driver in the Asia Pacific food stabilizers market.
Developing economies such as China, India, and Japan are potential markets for
the food stabilizers. The main driving force for the growing market is the
scope and range of innovative system solutions and food processing
technologies.
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Created on Jun 10th 2021 07:14. Viewed 206 times.