Food Thickeners Market to See Major Growth by 2022

The food thickeners market is projected to reach USD 15.80 billion by 2022, at a CAGR of 5.95% from 2016 to 2022. This market is driven by the growth in demand for convenience foods, consumer awareness toward healthy diet, and multiple functionalities and advantages associated with the use of food thickeners.

Each food thickener works differently, depending upon the application. Hence, food thickener manufacturing companies should have a strong and dedicated R&D facility to develop food thickeners that are innovative and suitable to demanding product formulations. High R&D costs associated with the extraction and manufacture of vegetable gum and starch derivatives are restraining this market’s small and medium manufacturers. The extraction of thickening agent derivatives from new natural sources for physical and chemical applications in food & beverages has become a challenge for manufacturers. Several specific and technological factors such as crushing, sifting, centrifuging, and hydrolysis, need consideration and add to the manufacturing cost.

Some key players in the global food thickeners market include Cargill (U.S.), Archer Daniels Midland Company (U.S.), E. I. Du Pont De Nemours and Company (U.S.), Ingredion Incorporated (U.S.), and Kerry Group Plc (Ireland). Other companies such as Darling ingredients (U.S.), Tate & Lyle PLC (U.K.), Ashland Specialty Ingredients (U.S.), CP Kelco (U.S.), TIC Gums (U.S.), and Fuerst Day Lawson (U.K.) also have a significant market share in the food thickeners market. In 2016, Cargill set up a new innovation center in China named Cargill ONE. This would help the company to expand its expertise in taste, flavors, food ingredients, and menus that appeal to changing consumer demand in Asia.

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Cargill (U.S.) is one of the active players in the food thickeners market; it is involved in the manufacture and marketing of food, agricultural, financial, and industrial products & services. It has a diversified portfolio of food thickeners including hydrocolloids, starches, and proteins. The company largely adopts expansions to expand its food thickeners business. In 2016, Cargill set up a new innovation center in China named Cargill ONE. This would help the company expand its expertise in taste, flavors, food ingredients, and menus that appeal to changing consumer demand in Asia.

Archer Daniels Midland Company (U.S.) is one of the world’s largest processors of oilseeds, corn, wheat, cocoa, and other agricultural commodities and is one of the leading manufacturers of protein meal, vegetable oil, corn sweeteners, flour, biodiesel, ethanol, and other value-added food and feed ingredients. The company adopts strategies such as expansions and acquisition to increase its geographic presence. In 2015, the company set up a new 15,700-square-foot facility in Cranbury, New Jersey (U.S.). This was expected to help the company in expanding and strengthening its specialty ingredients business. In 2014, it acquired Wild Flavors GmbH (Germany), to form a new business unit—Wild Flavors and Specialty Ingredients—in order to expand its specialty ingredient portfolio.

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E.I. du Pont de Nemours and Company (U.S.) develops, produces, and markets a wide variety of food ingredients for the global market. It has a global presence with 75 research & development centers and 12 examining laboratories in 90 countries across North America, Latin America, Europe, and Asia-Pacific. It focuses on expansions as its key strategy to develop its networks. In 2016, the company set up its new ASEAN headquarters in Singapore. This would help the company in expanding its business in the Southeast Asian region.

Marker Research Report Insights & Consulting.