The global hydrocolloids market is anticipated to reach a value of around USD 14.1 million by 2028. 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.
Hydrocolloids Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 10.1 billion|
|Segment Covered||Type, Source|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East & Africa|
Key Segments of the Global Hydrocolloids Market
Type Overview, 2018-2028 (USD Million)
- Xanthan Gum
- Guar Gum
- Gum Arabic
Source Overview, 2018-2028 (USD Million)
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global hydrocolloids market.
- Hydrocolloids is widely used for various end uses in food and beverages, owing to their excellent properties and the market is expected to gain traction over the coming years
- With the growing personal care uses, there is a rise in the demand for hydrocolloids which is further expected to have a positive impact on the overall market growth
What does the report include?
- The study on the global hydrocolloids market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the hydrocolloids industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on Type and End Use. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global hydrocolloids market. The report will benefit: Every stakeholder involved in the hydrocolloids market.
- Managers within the hydrocolloids industry looking to publish recent and forecasted statistics about the global hydrocolloids market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global hydrocolloids market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
The new QC and R&D lab would enable the organization to conduct testing through its different business units and improve its innovation capability. In addition, major players are concentrating their efforts on acquiring smaller market players in order to broaden their product range and geographic footprint. The hydrocolloids market is expected to be restrained to some degree during the forecast period due to strict regulations imposed by regulatory bodies in various regions on the use of hydrocolloids in the automotive industry.
While growing health concerns among people have been driving food and beverage manufacturing companies towards pulses ingredients, the Covid-19 pandemic has resulted in several unforeseen consequences for the market. A key trend observed in several developing countries during 2020 was large segments of the migrant working population returning to their homes in rural areas. As a result of this reverse migration, farming activity has increased.
For example, India, which is the second largest producer of pulses globally, saw an over 30 percent increase in farm area under pulses cultivation in 2020; India’s farm area under pulses cultivation now stands at a whopping135 lakh hectares. While the growth in acreage under pulses cultivation in developing countries in Asia and Africa augurs well for the market, this growth has not been uniform. In fact, several developed countries actually witnessed a decline in pulses cultivation.
The hydrocolloids market, by type, has been segmented into gelatin, pectin, carrageenan, xanthan, agar, Arabic, locust bean gum, carboxymethyl cellulose, alginates, guar gum, and microcrystalline cellulose. Guar gum, by type, is projected to grow at a higher CAGR during the forecast period. Guar gum is widely accepted as an ingredient in various applications including food & beverages, pharmaceuticals, and cosmetics. Its multifunctional properties increase its adoption in end use applications. Food grade guar gum occupies a major share in the market, due to its high demand in the food & beverages industry mainly from the frozen food and confectionery sectors.
The market, by application, has been segmented into food & beverages, cosmetics & personal care products, and pharmaceuticals. The food & beverages segment is projected to be the largest segment during the forecast period. Hydrocolloids are widely used in dairy products, followed by confectionery, meat & poultry products, beverages, bakery, sauces & dressings, and other applications. The reason for the increasing use of hydrocolloids in the food industry is its ability to modify the properties of food as an emulsifier, stabilizer, gelling agent, and fat replacer.
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.
The global market for hydrocolloids is dominated by large players in the food industry Ingredion (US), Cargill (US), DuPont (US), Darling Ingredients (US), ADM (US), and Kerry (Ireland).