The global food thickeners market is set to witness substantial growth, with a projected valuation of US$ 24,469.6 million by 2032, marking a significant increase from US$ 14,324.2 million in 2022. Food thickeners are essential ingredients used in various food and beverage applications to enhance viscosity and texture. As consumer demand for convenience foods and healthier alternatives rises, the market for food thickeners is experiencing steady growth.
The demand for food thickeners is being driven by several factors, including the increasing popularity of convenience foods, growing consumer awareness of healthy eating habits, and the numerous benefits associated with the use of food thickeners. These ingredients are crucial for achieving desired textures in a wide range of products, from sauces and soups to baked goods and beverages.
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Key factors driving the growth of the food thickeners market include the significant expansion of the food and beverage industry, coupled with the presence of a large consumer base. Rising disposable incomes, along with changing consumer lifestyles due to rapid urbanization, are also contributing to market growth. Additionally, the demand for non-alcoholic beverages and healthier snack options is fueling the adoption of food thickeners in various product formulations.
Key Takeaways:
- The presence of a well-established food and beverage industry in the US and Canada will drive the growth of the food thickeners market in North America, resulting in the ownership of 26.4% of the market share.
- In 2022, Europe’s food thickeners market held about 22.4% of the overall market share.
- Increasing consumption of different types of food thickeners will drive the market in Asia Pacific.
- By application, the bakery category will remain popular with a share of 25% in 2020.
- Based on type, animal-based food thickeners will grow at 6% CAGR during the assessment period.
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Leading Players in Food Thickeners Market:
Some of the leading food thickeners manufacturers include Cargill, Archer Daniels Midland Company, Du Pont, Ingredion Incorporated, Tate & Lyle PLC, Ashland Specialty Ingredients, CP Kelco, TIC Gums, Inc., and others.
These key food thickeners providers are adopting various strategies such as new product launches and approvals, partnerships, collaborations, acquisitions, mergers, etc. to increase their sales and gain a competitive edge in the global food thickeners market.
- Tate & Lyle expanded its line of tapioca-based starches in January 2021. The latest REZISTA MAX thickening starches and BRIOGEL gelling starches are part of the expansion. This has aided the company in expanding its product portfolio.
- Bioriginal introduced XanFlax, a natural thickening agent that can be employed as a non-GMO replacement for xanthan gum in a wide range of food applications, in May 2019.
- Cargill’s extensive portfolio of modified food starches was released in February 2022 and includes thinned adapted starch, reasonably stable starch, roll-dried starch, and cold-water swelling starch.
- Du Pont GRINDSTED® Xanthan Gum, introduced in July 2019, is a popular, all-natural food thickener and stabilizing agent used in gluten-free recipes and to texturize meat-free burgers.
Key Takeaways for Investors:
- Market Expansion Opportunities: The food thickeners market presents lucrative opportunities for investors, driven by increasing consumer demand for healthier food and beverage options. Companies focusing on product innovation and catering to changing consumer preferences are likely to thrive in this competitive market.
- Regional Insights: North America currently dominates the food thickeners market, followed closely by Europe and the Asia Pacific. Investors can capitalize on the growth potential in these regions by targeting companies with a strong market presence and innovative product offerings.
- Industry Trends: Manufacturers in the food thickeners market are adopting various strategies, such as new product launches, mergers, and acquisitions, to expand their market share and gain a competitive edge. Investors should closely monitor industry trends and company developments to identify investment opportunities.
- Start-up Ecosystem: Start-ups in the food thickeners market are playing a significant role in driving innovation and expanding the market landscape. Investors looking to capitalize on emerging trends and disruptive technologies can explore investment opportunities in these innovative companies.
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Key Segments Profiled in the Food Thickeners Market Report
Food Thickeners Market by Type:
- Hydrocolloids-based Food Thickeners
- Protein-based Food Thickeners
- Starch-based Food Thickeners
Food Thickeners Market by Source:
- Plant-based Food Thickeners
- Animal-based Food Thickeners
- Microbial-based Food Thickeners
Food Thickeners Market by Form:
- Food Thickeners Gel Type
- Food Thickener Powder
Food Thickeners Market by Application:
- Bakery Items
- Confectionery
- Sauces
- Dressings
- Gravies
- Beverages
- Dairy & Frozen Products
- Convenience & Processed Foods
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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