Industry: Materials and Chemical | Publish Date: 05-Jan-2023 | No of Pages: 501 | No. of Tables: 354 | No. of Figures: 335 | Format: PDF | Report Code : N/A
The global Hydrocolloids Market size was valued at USD 13.14 billion in 2021 and is predicted to reach USD 20.20 billion by 2030 at a CAGR of 4.95% from 2022 to 2030.
Hydrocolloids are a heterogeneous collection of polysaccharides that create a gel-like substance when dispersed in water.
Hydrocolloids or gums belong to a group of biopolymers widely used in food technology. Hydrocolloids are commonly used in many food formulations to improve their quality attributes and extend their shelf-life. Hydrocolloids have been extensively used in different food products as thickeners (soups, gravies, salad dressings, sauces, and toppings), water retention agents, stabilizers, emulsifiers, and gel-forming agents (jam, jelly, marmalade, restructured foods, and low-sugar per calorie gels).
These chemicals can also be used to prevent ice and sugar crystal formation in ice cream and can help control the release of flavors. In the bakery industry, these compounds help improve food texture and moisture retention to retard starch retrogradation, and finally enhance the overall quality of the products during storage.
As people become increasingly aware of natural and clean-label food, the consumption of these types of food and beverages has been growing exponentially, which in turn has increased the demand for hydrocolloids. Moreover, this has led to the increasing reliance on natural fibers and gums for functional properties, stability, safety, and quality of food products. Further, the application of hydropolymers is not limited to the food and beverage industry; they are also in high demand in the pharmaceutical, cosmetic, textile, paper, and agricultural industries. Thus, the versatile properties of hydrocolloids are driving its demand from food processing industries, thereby supporting the hydrocolloids market growth.
Thickening and gelling agents are food additives, and their use is subject to several laws and regulations. For instance, in May 2022, the Canadian government prohibited the misrepresentation of food; mislabeling, adulteration, and substitution of food are forms of misrepresentation and may constitute food fraud. Thus, the Canadian Food Inspection Agency (CFIA) has taken steps to ensure that food products are properly labeled and safe for consumption, and that businesses have the same opportunities to thrive in the Canadian market. These factors are restraining the growth of the hydrocolloids industry during the forecast period.
Growing consumption and demand for convenience foods directly impacts the increased use of hydrocolloids in these products to enhance shelf life, quality, and other properties. It enhances the viscosity and improves the textural properties of a wide variety of food products such as processed meat, gravies, and sauces.
According to a global events company, Montgomery Group, in 2020, the UK food-to-go sector is expected to reach USD 31.6 billion by 2024 due to the ease of utilization and consumption of convenience foods. Manufacturers are increasingly using hydrocolloids in processed foods to meet the growing demand for hydrocolloids, which is expected to create ample opportunities for the hydrocolloids industry in the future.
Asia-Pacific holds the lion’s share of the hydrocolloids market at present and is expected to continue its dominance during the forecast period. Several factors are contributing to this, including the high consumption of frozen products such as bread, pizzas, donuts, and muffin that uses hydrocolloids to improve texture and moisture retention and enhance the overall quality.
North America is expected to show a steady rise in the hydrocolloids market share; this can be attributed to the presence of high population in countries such as China and India, which significantly increases the consumption rate of several beverages, including carbonated drinks and dairy beverages that use hydrocolloids to enhance flavor and texture. Moreover, beer consumption in this region that uses old-soluble hydrocolloids such as carrageenan to reduce the level of haze that forms in a finished beer is further driving the hydrocolloids market growth.
Competitive Landscape
Various market players operating in the hydrocolloids market include Cargill Inc., CP Kelco Inc., Kerry Group PLC, DSM N.V, Archer Daniels Midland Company, Ashland Global Holdings Inc., Hawkins Watts Ltd., Gelnex Industria e Comercio Ltd., Taiyo Kagaku Co. Ltd. and Fiberstar Inc. These market players are completing acquisitions and launching numerous products across various regions to maintain their dominance in the hydrocolloids market.
For instance, in June 2022, Cargill Inc acquired Delacon Biotechnik Ges mbH. This acquisition was aimed to enhance its product portfolio and expand its market presence. Moreover, in June 2021, Ashland Global Holdings launched Aqua flow ECO-300. It is a high shear, biocide-free thickener for high-performance waterborne paints and coatings.
Gelatin
Xanthan gum
Carrageenan
Alginates
Agar
Pectin
Guar gum
Locust bean gum (LBG)
Gum Arabic
Carboxymethyl cellulose (CMC)
Microcrystalline cellulose (MCC)
Thickener
Stabilizers
Gelling agents
Fat replacers
Coating materials
Others
Botanical
Microbial
Animal
Seaweed
Synthetic
Food & Beverage
Cosmetics
Pharmaceuticals
Others
By Geography
North America
US
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Netherlands
Denmark
Finland
Norway
Sweden
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Thailand
Singapore
Rest of Asia-Pacific
RoW
Latin America
Middle East
Africa
REPORT SCOPE AND SEGMENTATION:
Parameters |
Details |
Market Size in 2022 |
USD 13.73 Billion |
Revenue Forecast in 2030 |
USD 20.20 Billion |
Growth Rate |
CAGR of 4.95% from 2022 to 2030 |
Analysis Period |
2021–2030 |
Base Year Considered |
2021 |
Forecast Period |
2022–2030 |
Market Size Estimation |
Billion (USD) |
Growth Factors |
Multifunctionality of hydrocolloids to lead to their wide range of applications thereby boosting the market growth Increasing popularity of clean label additives due to a rise in health and wellness trend propels market growth |
Countries Covered |
26 |
Companies Profiled |
10 |
Market Share |
Available for 10 companies |
Customization Scope |
Free customization (equivalent up to 80 analysts working hours) after purchase. Addition or alteration to country, regional & segment scope. |
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
KEY PLAYERS
Cargill Inc.
CP Kelco Inc.
Kerry Group PLC
DSM N.V
Archer Daniels Midl and Company
Ashland Global Holdings Inc.
Hawkins Watts Ltd.
Gelnex Industria e Comercio Ltd.
Taiyo Kagaku Co. Ltd
Fiberstar Inc