Food Thickeners Market Scope:
The food thickeners market industry is projected to grow from USD 9.42 Billion in 2023 to USD 13.29 billion by 2030, food thickeners market could anticipate a CAGR of 5.9% over the evaluation period (2023 to 2030), reveals Market Research Future (MRFR). MRFR expects the amplified preference for convenience foods, confectionery and bakery products worldwide to be a major reason for the strong demand for Food Thickeners Market in the food sector.
Key Boosters and Restraints:
The dramatic growth of the food sector, especially the bakery and dairy sectors have been quite favorable for the food thickeners market. Factors including frequent product development, soaring consumer preferences for premium quality products, and strict food regulations will further facilitate market growth in the upcoming years.
Food thickeners like hydrocolloids, proteins, and starch have extensive applications within the baking industry, where these are predominantly utilized as stabilizing, gelling, and thickening agents. Additionally, mounting consumption of ready-to-eat, protein-rich snacks will also enhance the demand for food thickeners in the following years.
Segmental Review:
Food thickeners market, with respect to origin, caters to plants, animals, as well as microorganisms.
Food thickeners are available in different types in the global market, some of which include vegetable gums, proteins, starches, and more.
Food thickeners industry, depending on product type, has been considered for alginin, cornstarch, xanthan gum, guar gum, gelatin, collagen, carrageenan, agar, and more.
Food thickeners’ major applications are in convenience foods, soups and gravies, confectionery, beverages, bakery, dressings and marinades, dairy products, and more.
Regional Insights:
Majority of the manufacturers in North America are focused on conducting exhaustive RD and cater to the soaring demand for food thickeners in the bakery and dairy sectors. Mounting preference for food products like soups, confectionaries, and marinates, in line with the rising prevalence of a healthy lifestyle among consumers further benefits the regional market. As a result, the global industry is dominated by North America, while the US has been recognized as the highest gainer in the region. The country is a major consumer of carrageenan as well as Xanthan gum, with the demand continuously rising in the food and beverage industry for different functionalities and applications.
In Asia Pacific, the market size is burgeoning at the fastest rate, thanks to the changing food consumption habits of the consumers influenced by the surging disposable income. China should expect to attain the leading position in the region, on account of the extensive use of thickeners in the food and beverage industry. Booming population and the abundance of key raw materials available in the country also add to the market strength. The Philippines happens to be the biggest producer of carrageenan and is one of the leading exporters of the same to other regions.
Affluent Vendors:
Ingredion Incorporated (U.S.), Archer Daniels Midland (U.S.), Kerry Group Plc (Ireland), Cargill (U.S.), E. I. du Pont de Nemours and Company (U.S.), Tate Lyle PLC (U.K.), TIC Gums (U.S.) are the top Key Food Thickeners Market Players developers highlighted in the extensive study.
These firms channelize their attempts at developing cutting-edge technologies products, utilizing innovative techniques to produce cost-effective products. They also strive to bring down risks in their supply chains to strictly adhere to the delivery needs. Big multinational firms are collaborating with smaller vendors to gain a stronghold in regional markets. Another strategic move made by these companies is focusing on expanding their production capacity, to accommodate the rapid increase in the product demand.
To illustrate, in November 2021, CP Kelco introduced Kelcogel DFA Gellan Gum, which is a dual-function, single-ingredient solution for use in dairy alternative beverages. With the company’s newly launched gellan gum grade product, manufacturers will be able to deliver a cleaner product label and also bring down the total costs while maintaining the quality.
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