Hydrocolloids Market Share, Gross Ratio, Demand, Driven Factors, Regional Outlook, Forecast
Market Highlights
The Global
Hydrocolloids Market has witnessed continued growth over the last few
years and is projected to reach USD 26,937.1 Million by 2027 at a CAGR
of 5.50%. Hydrocolloids are used in various applications in the food
& beverage, pharmaceuticals, and oil & gas industries, among others.
The nutritional and health-promoting properties of hydrocolloids have led to
their adoption as functional ingredients by several food & beverage
manufacturers. The use of hydrocolloids in functional food improves health,
lowers cholesterol, and helps in combating diseases, especially diabetes.
Hydrocolloids help in improving gut health, owing to which small- and medium-sized
manufacturers have begun offering their products to functional food processors.
Thus, the rising adoption of hydrocolloids as functional food ingredients is
opening up new markets for hydrocolloid suppliers, thereby, offering lucrative
opportunities to market players.
Asia-Pacific was the
largest market for hydrocolloids and the regional market is expected to
maintain its dominance during the forecast period with the highest CAGR
of 5.84%. The growing demand for bakery and confectionery products in
Asia-Pacific is influencing the demand for hydrocolloids in the food &
beverage industry of the region. North America held a notable market share in
2018 and the regional market is expected to register a growth rate of 5.07%
during the forecast period.
The global
hydrocolloids market is highly competitive with key industry players adopting
various strategies such as expansions, acquisitions, product launches, joint
ventures, and agreements to strengthen their market positions. Most companies
in the market are focused on expanding operations across regions, augmenting
their capabilities, and building strong partner relations.
Market Players
Market Research Future recognizes Kerry Group PLC (Ireland),
Cargill, Incorporated (US), DowDuPont (US), Ingredion Incorporated (US), Archer
Daniels Midland Company (US), DSM NV (Netherlands), Brenntag AG (Germany), Tate
& Lyle PLC (UK), Ashland Global Holdings, Inc. (US), and Darling
Ingredients, Inc. (US) as the key players active in the global hydrocolloids
market.
Segmental Analysis
The global hydrocolloids
market has been segmented on the basis of type, source, application, and
region.
Based on type, the
global hydrocolloids industry has been segmented into gelatin, carrageenan,
guar gum, pectin, xanthan gum, gum arabic/acacia gum, alginates, agar, and
others. The agar segment is projected to register the highest CAGR
of 5.7% during the forecast period. The major application industries
for agar are pharmaceuticals, food, and cosmetics. Agar offers several
advantages over gelatin; it stays solid at warm temperatures, is a powerful
gelling agent, and does not impart color, odor, or flavor to the food product.
Additionally, agar contains 80% fiber, small amounts of carbohydrates, and zero
protein and fats. Owing to these nutritional and functional benefits, the
demand for agar as a natural hydrocolloid is increasing in the food &
beverage industry.
By source, the market
has been divided into natural and synthetic. The natural segment garnered the
larger the global hydrocolloids
market share in 2022 and is expected to register the higher growth rate
during the upcoming years. Agar, carrageenan, gelatin, alginates, konjac gum,
guar gum, xanthan gum, pectin, and locust bean gum are some of the commonly
used natural hydrocolloids. The major determinants propelling the growth of the
segment are the low cost of natural hydrocolloids, easy availability of natural
raw materials, biodegradability, bio-compatibility, limited side effects, and
high acceptance among consumers.
Based on application,
the global define hydrocolloids market has been classified as food & beverages
and others. The food & beverages segment has been further divided into
dairy & frozen desserts, bakery & confectionery, beverages, creams,
dressings & spreads, meat, poultry & seafood products, and others. In
2018, the food & beverages segment garnered a lower revenue share; however,
it is expected to exhibit higher CAGR of 5.55% during the forecast period. In
the food & beverages segment, the dairy & frozen desserts sub-segment
accounted for the largest market share in 2018, where hydrocolloids are used
mainly as stabilizers, thickeners, and gelling agents. However, the meat,
poultry & seafood products sub-segment is expected to register the highest
growth rate during the forecast period.
Regional Analysis
Geographically,
the global hydrocolloids type market has been segmented into North
America, Europe, Asia-Pacific, and the rest of the world. As per MRFR analysis,
Asia-Pacific dominated the market, accounting for the largest share of more
than 30.00% in 2018 and the regional market is projected to register the
highest CAGR of 5.84% during the forecast period.
Key Findings of the
Study:
The global hydrocolloids
market value is expected to register a growth rate of 5.50% during the period
of 2019 to 2024. The growth of application industries of hydrocolloids is
projected to propel the growth of the global hydrocolloids market.
By type, the gelatin
segment is projected to maintain its dominance during the forecast period of
2019 to 2024. The segment is expected to register a substantial growth rate of
5.43% during the review period.
On the basis of
source, the natural segment is estimated to hold the larger market share during
the forecast period and is projected to register a growth rate of 5.53%.
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