The hydrocolloids market is anticipated to develop at a compound annual growth rate (CAGR) of 5.36% and reach a predicted market size of USD 13.30 billion by 2032. The market is anticipated to experience considerable growth between 2020 and 2032. Convenience food demand and growing knowledge of the advantages of clean-label additives like hydrocolloids are the main drivers of this rise. "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 most recent report from Fortune Business Insights states that the market was valued at USD 9.07 billion in 2019.
Hydrocolloids are employed in many different processes, such as taste encapsulation, edible coating creation, and crystallization prevention. In addition, they are acknowledged for their health advantages, like offering dietary fiber at a low calorie count. Foods with outstanding texture, flavor, and other sensory aspects are in high demand. In addition, the market for hydrocolloids is growing due to consumer desire for goods made with nutrients and natural components.
What does the Report Provide?
The market research provides both qualitative and quantitative analysis of the main drivers and restraints on the industry's growth. It supports the growth of the market by offering insights into regional trends across several areas. The competitive landscape is also covered in the analysis, which highlights top businesses and their approaches to joint ventures, product innovation, and cooperation in order to propel market expansion.
The study also looks at industry advancements and market trends that are anticipated to boost growth between 2020 and 2027. To obtain thorough data and insights, a variety of research approaches have been used, such as Porter's Five Forces analysis.
DRIVING FACTORS
Increasing Demand for Convenient Food Products to Aid Growth
The adoption of additives such as hydrocolloids is anticipated to be boosted by rising consumer awareness of the advantages of clean-labeled food products; the nutritional benefits of these products are anticipated to drive demand and accelerate their global adoption; additionally, the growing health concerns associated with high-fat foods like pizza and burgers are expected to encourage healthier eating habits, which in turn is expected to sustain and potentially accelerate the growth of the hydrocolloids market in the upcoming years.
SEGMENTATION
Food & Beverages Segment to Hold Major Market Share
Application predicts that in the next years, the food and beverage business will grow dramatically. This can be due to a number of factors, such as the rise in demand for natural, nutrient-dense foods with hydrocolloids on a worldwide scale.
REGIONAL INSIGHTS
Asia-Pacific to Remain Dominant; Presence of Manufacturing Units to Promote Growth
The Asia-Pacific region is anticipated to outperform other regions and lead the worldwide hydrocolloids market during the forecast period. The reason for this domination is the large number of hydrocolloid production facilities spread throughout nations including Thailand, India, Indonesia, and China. The Asia-Pacific region's GDP was USD 3.44 billion in 2019.
North America, meanwhile, is expected to increase significantly between 2020 and 2027. The increased demand for fortified convenience food items, which is anticipated to accelerate the region's adoption of hydrocolloids, will be the driving force behind this expansion.
COMPETITIVE LANDSCAPE
Prominent Companies Focus on Facility Expansion to Amplify Their Market Positions
The hydrocolloids industry is dominated by a small number of very large corporations, and the market is becoming more and more consolidated globally. To meet the growing demand for functional food items, these industry leaders are inventing novel hydrocolloids and extending their manufacturing capacities. Major companies are also using tactics including partnerships, the introduction of new products, and mergers and acquisitions to quicken the pace of market expansion during the course of the projection year.
Industry Development:
November 2018: J.M. Huber Corporation's subsidiary CP Kelco announced that it has increased its pectin production capacity in Denmark by around 15%. The company wants to improve its standing in the international market and meet the growing demand for clean-label ingredients in functional foods.
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)
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