The global hydrocolloids market accounted for a value of USD 9.8 billion in 2019 and is projected to register growth at a CAGR of 4.4% during forecast period.
COVID-19 has impacted the hydrocolloids market as manufacturing units have to shut its production and the demand for hydrocolloids is decreasing around the globe as people are avoiding using outside food and bakery products due to fear of corona virus. There is shortage of hydrocolloids in the market. The demand for hydrocolloids is likely to increase post COVID-19 as people will start buying food & beverages products which contains hydrocolloids as ingredients.
For more details, visit: Global Hydrocolloids Market By Type (Gelatin, Pectin, Others), By Source (Botanical, Animals, Others.), By Application (Food & Beverages, Pharmaceuticals, Others), By Function, By Region, Forecast & Opportunities to 2026
The demand and adoption of convenient food is increasing as people prefer it more. The hydrocolloids are used in convenient foods as binding agents, thickening agents and stabilizers. The convenience food market is immensely increasing across the globe which indirectly increases the hydrocolloids market and drives growth in this market during forecast period.
On the basis of type, the hydrocolloids market is segmented into gelatin, pectin, carrageenan, xanthan, agar, Arabic, locustbean gum, carboxymethyl cellulose, alginates, guar gum and microcrystalline cellulose. The guar gum segment is estimated to grow at highest CAGR during forecast period. Guar gum is used as ingredient in various end-users industries such as cosmetics, pharmaceuticals and food & beverages industries. The demand for guar gum is increasing due its wide application across various end-users and this drives growth in guar gum segment during forecast period.
On the basis of source, the hydrocolloids market is segmented into botanical, microbial, animal, seaweed and synthetic. The botanical segment is estimated to grow at highest CAGR during forecast period. Various food manufacturers are using these botanical plant gums for better texture and consistency properties for food products. Botanical gums protect food products from surroundings by forming a protective layer. This is preferred by manufacturers over other sources. Thus, drives growth in botanical segment during forecast period.
On the basis of application, the hydrocolloids market is segmented into cosmetics & personal care, food & beverages and pharmaceuticals. The food & beverage segment is estimated to hold largest market share during forecast period. The hydrocolloids are largely used in convenient food products, dairy, confectionery, sauces 7 dressings, bakery, beverage, meat and poultry products. Hydrocolloids used in food industry as stabilizer, fat replacer, gelling agent and emulsifier. The manufacturers use hydrocolloids in food & beverages at large scale and this drives growth in food & beverages industry during forecast period.
North America region is estimated to be fastest growing market during forecast period. The hydrocolloids use in clean label and premium food products in this region. The market for confectionary, bakery, packaged food and convenient food is larger in this region especially in the US. The US holds a major market share in hydrocolloids market. People in this country are more health and calorie conscious which leads to high popularity of low-calories foods in this country. The cardiac diseases are also increasing in this region which leads to people adopting for low-calorie and nutritional food. The demand for hydrocolloids is increasing in this region and this drives growth in North America region during forecast period.
The key market players in hydrocolloids industry are DuPont, Cargill, Kerry Group, Archer Daniels Midland, Palsgaard A/S, Darling Ingredients Inc., Kelco, Ashland Inc., BASF, Tate & Lyle Plc. Glanbia Nutritionals, Fuerst Day Lawson, Koninklijke DSM N.V.A, Nexira, Deosen, East-Agar AS, Exandal Corp. and FMC Biopolymer.
This report forecasts The Global Hydrocolloids Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the global hydrocolloids market report on the basis of type, source, function and application.
- What are the expected industry trends over the next three to five years?
- Which of the hydrocolloids type is likely to lead by 2025?
- Which of the application segments is expected to have the maximum potential to during the forecast period?
- Which region is going to have the highest smart meters market share by 2025?
- What are different organic and inorganic strategies implemented by companies to gain increased market share?