Hydrocolloids Market Analysis
The global hydrocolloids market is projected to touch USD 14.20 billion at a 5.65% CAGR between 2022-2030, as per the recent Market Research Future (MRFR) report. Hydrocolloids are functional ingredients that are mostly used as thickeners, stabilizers, and emulsifiers. They are found in seeds, fruits, vegetables, and various other plant-based products. Besides, hydrocolloids are also found in microbes, seaweeds, and animals. Owing to its alluring features such as water bindings, viscosity, and solubility, hydrocolloids have many other applications apart from food and beverages such as agriculture, pharmaceuticals, oil and gas, and personal care, among others.
Numerous factors are adding to the global hydrocolloids market growth. These factors, according to the recent MRFR report, include the growing demand for healthy and natural ingredients in food and beverage applications, growth of application industries, increasing use in various end use industries such as agriculture, pharmaceuticals, oil and gas, and personal care, increased innovations and R&D in hydrocolloids, and demand for processed and convenience foods owing to increasing working population.
On the contrary, toxicity from excessive hydrocolloids consumption, complexities in raw material sourcing, and intense market competition are factors that may limit the global hydrocolloids market growth over the forecast period.
Key Players
The global hydrocolloids key market players include Darling Ingredients, Inc. (US), Ashland Global Holdings, Inc. (US), Tate & Lyle PLC (UK), Brenntag AG (Germany), DSM NV (Netherlands), Archer Daniels Midland Company (US), Ingredion Incorporated (US), DowDuPont (US), Incorporated (US), Cargill, Incorporated (US), and Kerry Group PLC (Ireland).
Market Segmentation
The MRFR report provides an all-inclusive segmental analysis of the hydrocolloids market based on application, source, and type.
By type, the global hydrocolloids market overview is segmented into agar, alginates, gum arabic/acacia gum, xanthan gum, pectin, guar gum, carrageenan, gelatin, and others. Of these, the gelatin segment will lead the market during the forecast period.
By source, the global hydrocolloids market is segmented into synthetic and natural. Of these, the natural segment will dominate the market during the forecast period and is predicted to touch USD 19,118.6 million by 2030.
By application, the global hydrocolloids market trends are segmented into food and beverages and others. Food and beverages are again segmented into poultry and seafood products, meat, dressings and spreads, creams, beverages, bakery and confectionery, dairy and frozen desserts, and others. Of these, food and beverages will have a major share in the market during the forecast period and are likely to grow at a 5.55% CAGR by 2030.
Regional Analysis
By region, the global hydrocolloids market report covers the recent trends and growth opportunities across the Americas, Europe, the Asia Pacific (APAC), as well as the Rest of the World (RoW). Of these, North America will dominate the market during the forecast period due to the presence of several key players in the region. The US is the key contributor to the increasing consumption of hydrocolloids in dairy products and confectioneries, owing to the rising awareness about the various advantages of consuming natural stabilising and thickening agents. Besides, the rising demand for gelling and stabilising ingredients such as hydrocolloids, particularly in the food and beverage industry, is also adding to market growth. Rising prevalence of cardiac diseases and obesity, increasing use of natural food additives and ingredients, new product launches, and technological advances are also boosting the growth of the market.
The global hydrocolloids market size in the APAC region is predicted to grow at the fastest pace over the forecast period. Factors contributing to the hydrocolloids market's growth in the region include the rising demand for natural and organic food products, the highest production rate of raw materials, and their availability. Japan, India, as well as China, are the major contributors in the region to the growing demand for hydrocolloids.
The global hydrocolloids market share in Europe is predicted to have healthy growth over the forecast period. Factors contributing to the market growth in the region include rising consumer awareness, growing demand for natural hydrocolloids in France, Germany, and the UK, and approval of hydrocolloids from regulatory authorities for use in edible products.
The global hydrocolloids market in the RoW is predicted to have stable growth during the forecast period.
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