Newark, Sept. 29, 2022 (GLOBE NEWSWIRE) — According to report published by The Brainy Insights, the global food thickener market is expected to grow from $12.8 billion in 2021 to $21.2 billion by 2030, with a CAGR of 5.8% over the forecast period 2022-2030.
The need for food thickeners is expected to increase due to growing demand for convenience foods, consumer awareness of healthy eating and active lifestyles, and the many benefits of using food thickeners. Food thickener producers continuously invest and focus on product innovation to expand their product lines and improve functional qualities such as flavor, texture and other organoleptic characteristics of their products, fueling global demand for thickeners. food thickeners.
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For example, researchers at Oregon State University have developed and commercialized Ropy 352, an entirely new type of dairy thickener. Some of the products that use Ropy 352 may incorporate probiotic properties. According to Oregon State University, the United States spends up to $120 billion a year on probiotic products like buttermilk, yogurt, and sour cream. Many potential natural thickeners are under investigation or awaiting approval. Watercress seed gum, for example, is one possible food thickener.
To strengthen their position in the global food thickeners market, the major players are now focusing on adopting strategies such as product innovations, mergers and acquisitions, recent developments, joint ventures, collaborations, and partnerships.
● In May 2019, a new product named XanFlax was introduced by Bioriginal. This natural thickening agent can be used as a non-GMO substitute for xanthan gum in various food applications.
Market growth and trends:
The demand for food thickeners has increased due to growing consumer demand for convenience foods such as processed foods, packaged foods, baked goods, confectionery products, etc. is expected to drive the growth of the market. Additionally, the growing demand for protein-rich products, ready-to-eat snacks, and nutritional foods is propelling the growth of the food thickeners market. However, high capital requirement for food thickeners market is expected to hamper the market growth over the forecast period. There are various food thickeners available in the market, such as instant starch-based food thickeners, powdered xanthan gum thickeners, xanthan gel-based liquid thickeners, and others.
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● In 2021, the hydrocolloid segment dominated the market with the largest market share of 41% and revenue of 5.2 billion.
The type segment is divided into proteins, starch and hydrocolloids. In 2021, the hydrocolloid segment dominated the market with the largest market share of 41% and revenue of 5.2 billion. Hydrocolloids are widely used in confectionery products as food thickeners in jellies, chewing gums, jams, marmalades and low sugar/calorie gels, fueling the growth of the segment.
● In 2021, the plant segment accounted for the largest market share, with 39.4% and revenue of 5.04 billion.
The source segment is divided into animal, plant, and microbial. In 2021, the plant segment accounted for the largest market share, with 39.4% and a market revenue of 5.04 billion. Plant-derived thickeners are used in various applications such as confectionery, bakery, ready meals, among others, due to their high efficiency and low price.
● In 2021, the bakery segment accounted for the largest market share, with 20.8% and a turnover of 2.6 billion.
The application segment is divided into bakery, confectionery, sauces and dips, beverages, ready meals and processed foods, and others. In 2021, the bakery segment accounted for the largest market share, with 20.8% and a market revenue of 2.6 billion. Food thickeners are widely used in the baking industry owing to changing lifestyles due to rapid urbanization coupled with increasing disposable incomes which are driving the growth of the segment.
Regional Segment Analysis of Food Thickeners Market:
● North America (United States, Canada, Mexico)
● Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
● Asia-Pacific (China, Japan, India, rest of APAC)
● South America (Brazil and Rest of South America)
● Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, North America has emerged as the largest market for the global food thickeners market, with a market share of around 35.7% and 4.5 billion in market revenue in 2021. Globalization Growing food and beverage sector and economic development are contributing to the growth of the food thickeners market in the region. Additionally, the demand for convenience foods, along with growing consumer awareness of traditional and exotic tasting products, is expected to increase the need for food thickeners in the region. Additionally, the growing awareness of the importance of food thickeners among food manufacturers is propelling the market growth in the region.
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Leading players operating in the global Food Thickeners Market are:
● Archer Daniels Midland Company
● DuPont De Nemours, Inc.
● Ingredion Incorporated
● Medline Industries, Inc.
● Darling Ingredients Inc.
● TIC Gums, Inc.
● Tate & Lyle PLC
● Cargill, Inc.
● Kerry Inc.
● Land of Ashland
This study forecasts revenue at global, regional and country levels from 2019 to 2030. Brainy Insights has segmented the global food thickeners market based on the segments mentioned below:
Global Food Thickeners Market by Type:
Global Food Thickeners Market By Source:
Global Food Thickeners Market by Applications:
● Sauces and dips
● Prepared and processed foods
About the report:
The global food thickeners market is analyzed on the basis of value (USD billion). All segments have been analyzed at global, regional and country level. The study includes analysis of more than 30 countries for each part. The report analyzes the drivers, opportunities, restraints and challenges to gain a critical overview of the market. The study includes Porter’s five forces model, attractiveness analysis, product analysis, supply and demand analysis, competitor position grid analysis, analysis of distribution and marketing channels.
About The Brainy Insights:
The Brainy Insights is a market research company, aiming to provide businesses with actionable insights through data analytics to improve their business acumen. We have a robust forecasting and estimating model to meet customers’ high-quality production goals in a short period of time. We provide custom (customer specific) and syndicated reports. Our union reporting repository is diverse across all domain categories and subcategories. Our customized solutions are designed to meet customer requirements, whether they are looking to expand or planning to launch a new product in the global market.
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