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Hydrocolloids Market to See Major Growth by 2025 | Key Players are DowDupont, Ingredion, Cargill, Kerry, Palsgaard, Darling Ingredients, CP Kelco

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Hydrocolloids Market to See Major Growth by 2025 | Key Players are DowDupont, Ingredion, Cargill, Kerry, Palsgaard, Darling Ingredients, CP Kelco

April 16
22:24 2021
 Hydrocolloids Market to See Major Growth by 2025 | Key Players are  DowDupont, Ingredion, Cargill, Kerry, Palsgaard, Darling Ingredients, CP Kelco

MarketsandMarkets™
The hydrocolloids market is estimated to be 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 hydrocolloids market is estimated to be 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% during the forecast period. The demand for hydrocolloids is driven by the rise in demand for convenience food from the food industry. The global market is growing due to the changing lifestyles and eating habits among consumers. The demand for hydrocolloids is also attributed to the consumer awareness on diet, nutrition, and natural products available.

The demand for hydrocolloids will rise post-COVID-19. The reason being that there has been an extreme shortage of hydrocolloids catering to the bakery, confectionery, dairy & dairy products, and meat & savory products. Post COVID-19, consumers will be able to buy food & beverage products that consist of hydrocolloids as an ingredient.

 Hydrocolloids Market

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.

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CHALLENGE: Unclear labeling leading to ambiguity and uncertainty

The issue of food labeling in the hydrocolloids industry is similar to that in the entire food industry, including regulatory environments and health concerns that are demanding more comprehensive labeling. In Europe, regulations have been introduced on the labeling of foodstuffs to enable European consumers to gain information regarding composition, manufacturer, storage methods, and preparation. Consumers are now becoming more aware of their right to information. They demand full information of the ingredients present in the food products. Although most hydrocolloids are obtained from natural sources, consumers have the perception that they are being obtained from synthetic sources due to which they are reluctant to use these products.

By function, the thickener segment is projected to dominate the market during the forecast period

On the basis of function, the hydrocolloids market is segmented into thickeners, stabilizers, gelling agents, coating materials, fat replacers, and others. The thickeners segment is estimated to be the largest segment in 2020. Hydrocolloids are widely used as thickeners in various food products such as soups, salad dressings, gravies, sauces, and toppings. The main reason for the use of hydrocolloids as thickeners is that they easily disperse when in contact with water so as to provide a thickening effect to the emulsion. Major hydrocolloids used as thickeners include xanthan gum, guar gum, locust bean gum (LBG), gum Arabic, and carboxymethyl cellulose (CMC).

North America is projected to be the fastest-growing market for the forecast period.

The North American hydrocolloids market is driven by its application in premium and clean label food products. 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 has led to an increasing preference for natural and low-calorie food products among consumers. The growth of the food industry and the increased usage of natural food ingredients and additives drive the market for hydrocolloids in North America. In addition, technological advancements and new product launches have made hydrocolloids available for a wide range of applications in the food & beverage sector, which is projected to drive the growth in the region.

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This report includes a study of the marketing and development strategies used, along with the product portfolios of leading companies. It consists of the profiles of leading manufacturers such as DowDupont (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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