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 global hydrocolloids market size is projected to reach nearly USD 10.1 billion in 2025. The demand for hydrocolloids is driven by the rise in demand for convenience food from the food industry. The global market is growing due to the changing lifestyles and eating habits among consumers. The demand for hydrocolloids is also attributed to the consumer awareness on diet, nutrition, and natural products available.
Growing demand for thickeners and gelling agents from pharmaceutical, personal care, and cosmetics, and food and beverage industries, in the emerging economies of Asia Pacific, is driving the growth. The upsurge in the consumption of hydrocolloids-based products in building materials coupled with rising demand from the cosmetics industry is expected to boost the market growth over the forecast period. Additionally, the high demand for thickening and gelling applications from the food and beverage sector is expected to be the major factor in boosting sales.
The study also assesses the demand using value chain analysis to highlight the different characteristics of the global hydrocolloids industry. Furthermore, the hydrocolloids market report covers various qualitative aspects of the industry, such as market restraints, key industry drivers, and opportunities. In addition, the report offers a comprehensive analysis of the competition by company profiles and the competitiveness of local and global vendors.
The extensive series of functions performed by hydrocolloids in the food industry is a key driving force for the market. The foremost function contributing to the abundant utilization of the products in the food industry is their capability to bind with water and enhance the properties of food ingredients.
Increasing demand for healthy food products is likely to translate into an ascending demand for hydrocolloids, thereby fueling the growth of the global hydrocolloid market. Growing demand due to the convenience offered by processed food is expected to positively impact the market in the forthcoming years.
Leading market players are channelizing their efforts in the development of new products and technologies, utilizing advanced methods to manufacture cost-effective products. The companies are also striving to reduce supply chain risk while strictly adhering to the delivery requirements. On account of this, the hydrocolloids are gaining consumer confidence across the globe. Globally, the companies are entering into partnerships, agreements, joint ventures, and mergers and acquisitions to strengthen their market share and increasing geographical reach.
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)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America