The global food hydrocolloids market is set to witness growth at a CAGR of 5.2% and is anticipated to reach a valuation of around US$ 14.5 Bn by 2032.
Food hydrocolloids are extensively used in the food processing sector owing to their functional qualities and utilization as thickeners, gelling agents, and stabilizing agents. Moreover, the use of hydrocolloids has increased significantly in response to rising demand for ready-to-eat food products. This is expected to bode well for the growth in the food hydrocolloids market.
Further, increasing preference for convenience and ready-to-eat food products will propel the demand in the market. Furthermore, technological advancements and advanced packaging solutions has led to extensive food choices such as chilled, frozen and packaged meals.
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Key Takeaways from Market Study
- The global food hydrocolloids market is anticipated to reach a valuation of around US$ 8.7 Bn by 2022
- Based on application, the bakery and confectionery segment is anticipated to account for a significant market share over the forecast period.
- East Asia food hydrocolloids market is expected to witness a lucrative growth rate of 5.0% during the forecast period.
- Animal source of food hydrocolloids to remain a prominent source in the coming years
- Europe is expected to emerge as a significant market for food hydrocolloids market in the forecast period
“Food hydrocolloids is extensively being used as a replacement for functional food ingredients and in confectionary food products as emulsifier. This is expected to boost sales notably over the forecast period,” says a Future Market Insights analyst.
Competitive Landscape
Prominent food hydrocolloids players are broadening their footprint by launching new products and forging strategic partnerships by investing heavily on market expansion and increasing production capabilities.
Cargill, Incorporated announced the launch of its new, state of the art pectin production facility in Bebedouro, Brazil, in September 2021. The plant, which cost US$ 150 million to build, boosts the company’s ability to fulfil expanding global demand for the texturizing ingredient. It will manufacture Cargill, Incorporated’s HM pectins in their entirety, considerably increasing the company’s pectin production and expanding supply in Latin America and Europe
W Hydrocolloids, a global supplier of carrageenan, launched two new products in July 2021 by the name Ricogel 88150 and Ricogel 84668 for application in yogurts, marmalade and plant based burgers respectively
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Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global food hydrocolloids market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
Food Hydrocolloids Market by Category
By Type:
- Gelatin
- Carrageenan
- Xanthan Gum
- Alginates
- Agar
- Pectin
- Gum Arabic
- Locust Bean Gum
- Other Types
By Application:
- Bakery and Confectionery
- Meat and Poultry Products
- Beverages
- Dairy Products
- Sauces and Dressing
- Other Applications
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