Market Scope
Hydrocolloids are functional ingredients used as thickeners, stabilizers, and emulsifiers. They are obtained from synthetic and natural sources with applications in agriculture, pharmaceuticals, personal care, oil gas, and food beverages. The global hydrocolloids market report by Market Research Future (MRFR) considers drivers, challenges, trends, and hurdles for the period of 2019 to 2030 (forecast period). The impact of the COVID-19 pandemic and its effects have been noted in the report.
The global hydrocolloids market is projected to reach USD 14.20 billion by 2030. It is expected to garner revenues at a CAGR of 5.65% over the forecast period.
Huge demand for convenience foods and indulgence of processed foods can drive the need for hydrocolloids which provide functional nutrients to the body. The rising wave of health-consciousness among consumers has led to food and beverage manufacturers to shift to natural ingredients in their formulations. This is evident with the use of pectin, guar gum, locust bean gum, and carrageenan. According to Agriculture and Agri-Food Canada, the U.S. accounted for USD 68.17 billion worth of bakery products.
Complexities in attaining raw materials and adherence to strict regulations can restrain market growth.
Competitive Intelligence
DowDuPont, DSM NV, Darling Ingredients, Inc., Ingredion Incorporated, Archer Daniels Midland Company, Kerry Group PLC, Brenntag AG, Ashland Global Holdings, Inc., Cargill, Incorporated, and Tate Lyle PLC are key players of the global hydrocolloids market.
Segmentation
The global hydrocolloids market report has been segmented by type, source, and application.
Based on type, the market has been divided into agar, pectin, gelatin, alginates, carrageenan, gum arabic/acacia gum, guar gum, xanthan gum, and others. The gelatin segment dominated the global hydrocolloids market in 2018 with a market share of more than 18%.
By source, the global hydrocolloids market has been divided into natural and synthetic. The natural segment accounted for the largest market share in 2018, with a value of USD 19,118.6 million in 2030.
The application segments of the market are food and beverages and others. The food and beverages segment has been further segmented into meat, poultry, and seafood products; dairy and frozen desserts; bakery and confectionery; creams, dressings, and spreads; and beverages, among others. The food and beverage segment is expected to register a higher CAGR of 5.55% during the forecast period. This can be attributed to the use of hydrocolloids as food additives to alter the composition and texture of food items. This is exemplified by its use in jellies, jams, ice creams, cakes, and candies.
Regional Analysis
Region-wise, the global hydrocolloids market has been segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW).
APAC dominated the global hydrocolloids market in 2018, and the regional hydrocolloids market trends are expected to register the highest CAGR of 5.84% during the forecast period. China, India, and Japan are the major countries in the region exhibiting rising demand for hydrocolloids. Consumption of food products and the huge expendable income levels of consumers can drive the demand for hydrocolloids. The region is expected to be highly lucrative for market players owing to the easy availability and sky-high production rate of raw materials.
Europe and North America are highly lucrative regions for the global hydrocolloids market owing to trade agreements among nations.
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