The market for food hydrocolloids is expected to expand at a CAGR of 5.2 percent and reach a value of over US$ 14.5 Bn by 2032. Due to their usefulness and use as thickeners, gelling agents, and stabilizing agents, food hydrocolloids are widely employed in the food processing industry. In addition, the use of hydrocolloids has greatly expanded in response to the rising demand for foods that are ready to eat. This is anticipated to be good news for the market for food hydrocolloids as it grows.
Additionally, consumers’ growing preference for quick-to-prepare food items will fuel market demand. Furthermore, a wide range of food options, including chilled, frozen, and packed meals, has been made possible by technology developments and advanced packaging techniques.
Key Market Study Conclusions
- By 2022, the market for food hydrocolloids is projected to be worth around US$ 8.7 billion.
- The bakery and confectionery category is predicted to hold a sizable market share throughout the projection period based on application.
- During the projected period, the East Asian food hydrocolloids market is anticipated to expand at a profitable growth rate of 5.0 percent.
- Hydrocolloids from animal sources of food will continue to be a major source in the upcoming years.
- During the projection period, Europe is anticipated to become a key market for food hydrocolloids.
“Food hydrocolloids are widely employed as a substitute for functional food components and as an emulsifier in confectionery food products. Over the projected term, this is anticipated to significantly increase sales.”
Competitive Environment
Leading food hydrocolloid companies are expanding their reach by introducing new products, forming strategic alliances, and making significant investments in market development and production capacity.
The opening of a brand-new, cutting-edge pectin production facility in Bebedouro, Brazil, in September 2021 was announced by Cargill, Inc. The plant, whose construction cost US$150 million, increases the business’s capacity to meet rising global demand for the texturizing ingredient. It will produce all of the HM pectins produced by Cargill, Incorporated. This will significantly increase the company’s pectin output and increase supplies in Europe and Latin America.
A leading provider of carrageenan, W Hydrocolloids, introduced Ricogel 88150 and Ricogel 84668 in July 2021 for use in yogurt, marmalade, and plant-based burgers, respectively.
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In its latest study, Future Market Insights provides an unbiased overview of the global market for food hydrocolloids, providing historical data (2017–2021) and estimated figures for the forecast period of 2022–2032.