Major Shifts In the Convenience Foods Sector to Sour Demand of Plant Hydrocolloids
Technological advancements in the industry of packaging has led to increase in the range of convenience food products such as prepared mixes, microwave-ability, portion-ability, shelf-stable, chilled, frozen and others. Rising inclination towards ready-to-eat foods has become an important factor for the increase in the demand for plant hydrocolloids. Processed food or convenience food are commercially prepared foods the minimal or no further preparation in order to be consumed. Plant hydrocolloids are largely used in ready-to-eat, frozen and packaged foods due to which, there is likely to be increase in the demand for convenience foods which in turn will drive the global plant hydrocolloids market.
Moreover, Asia-Pacific excluding Japan will witness the fastest regional plant hydrocolloids market growth during the projected period owing to the rising demand for processed and convenient food items in the region. Asia-Pacific excluding Japan region’s consumers are looking forwards to clean label and low fat and sugar foods. APEJ plant hydrocolloids market is projected to create absolute $ opportunity of US$ 1.4 Bn during forecast period 2019 – 2029.
Awareness of Food Processors Regarding Plant Hydrocolloids to Create Market Opportunities
Consumers generally hold limited awareness regarding plant hydrocolloids usage as an ingredient in food products. The awareness is likely to increase amongst the target consumer population as a result of which, the usage of plant hydrocolloid in larger quantities will also rise. The industry of plant hydrocolloid at present benefits from a comparatively low level of consumer awareness which is either negative or positive. A number of plant hydrocolloids at times suffer from unnecessary implications revealed through the mass media. However, the industry of plant hydrocolloids is still expected to observe higher growth opportunities and be pro-active instead of re-active in the development of understanding and perceptions regarding plant hydrocolloids.
Emergence of Pectin in Dairy To Drive the Global Plant Hydrocolloids Market
In acidified UHT (Ultra-high temperature processing) soy beverages, pectin is used for stabilizing soy protein at considerably low pH in the course of heat treatment. However, proteins are not usually stable during low pH heat treatment. In such cases, pectin as plant hydrocolloids helps in protecting the proteins. Protein can maintain its pleasant, smooth and mouthfeel experience throughout the shelf life. In one area of application pectin plant hydrocolloids has made an incredibly big splash is in the acidified space of dairy.
Emerging Foods Processing Market to Boost Global Plant Hydrocolloids Market
Emerging markets for food processors such as Latin America and APEJ to crate notable demand for plant hydrocolloids. Brazil is observing greater dairy alternatives with the help of plant hydrocolloids as alternatives. Due to increase in the consumer demand along with strong non-vegan demographics, the market for plant hydrocolloids is anticipated to grow exponentially in the following years. The manufacturers of Latin America are stepping up their efforts in producing and selling plant-based products in order to meet the rising demand of the consumers for plant-based alternatives. Nutrition is also considered as a major need of consumers owing to the fact that earlier products were relatively high in carbs. Due to primary factors such as challenges of navigating the supply chain of Brazil and high import costs, most of the leading brands holding plant hydrocolloids substances are domestic. The trend is expected to change with the retailers increasing efforts in associating directly with the overseas suppliers.
Strategic Moves of Tier 1 Players to Further Consolidate Plant Hydrocolloids Market
Inorganic growth through strategic acquisitions has been a key strategy of the companies functioning in the plant hydrocolloids market. In line with this, Ingredion Incorporated has made significant acquisitions in recent times. For example, by end of 2017, Ingredion Incorporated had shares purchasing agreement with TIC Gums, a company based in United States and further invest to expand its ingredients business including plant hydrocolloids. TIC Gums processes and produces advanced texture system for food and beverages and for domestic and export sales. With help of such acquisitions companies are going for inorganic growth to expand its sales in plant hydrocolloids.