Asia Pacific to expand rapidly in the Global Food Thickeners Market in future
Market overview:
The global Food Thickeners Market was worth USD 13.7 billion in 2020, and it is predicted that it will reach USD 20.9 billion by 2025 at a CAGR of 6% during the conjecture period.
Food thickeners or concentrates are substances added to a mixture or food to increase viscosity without substantially altering other properties. It enhances the characteristics of other ingredients along with improved stability. In the F&B sector, thickeners are added to intensify the basic food properties like texture, stability, viscosity and flavor.
Recent developments:
- CP Kelco U.S. Inc. announced in April 2019 that it will introduce a new product portfolio called "NUTRAVA Citrus Fiber" that focuses on consumer demand for natural clean label products.
Market Drivers and Restraints:
In the food and beverage industry, food thickeners are widely used to increase the viscosity of beverages, including sauces and puddings combined with food and various ingredients. The growing demand for food concentrates is leading the way as the applicability of products in food and beverage applications increases as consumer awareness of health and wellness increases. Favorable government regulations related to the growth of the food and beverage industry are expected to increase demand during the forecast period. The benefits associated with increasing disposable income, increased demand for prepared foods, and the use of food thickeners are driving the global market for food thickeners. Factors such as continued product innovation, changing consumer preferences for high-quality products, and the strengthening of government food regulations are expected to have a positive impact on market growth. Changing consumer food patterns and better properties of these thickeners are likely to promote the expansion of the food thickener market. Food thickener makers are introducing novel products to increase their product offerings and customer base. Other factors contributing to market growth are improvements in the functional and sensory properties of the product. The increasing need for convenient nutritional products has increased the use of thickeners due to their advantageous properties, including emulsion and palatability, thus accelerating industrial growth.
Changes in food thickener prices and higher R&D costs associated with production may limit growth.
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Report is segmented as:
By type, types of food thickeners include hydrocolloids, proteins, and starches. Starch segments are expected to grow rapidly during the forecast period. The food concentrator market is subdivided into sources containing plants, animals and microorganisms.
The market for food thickeners is divided into types of gel and powder according to type.
The food thickeners market is divided into bakery, confectionery, sauce, dressing, sauce, beverage, dairy and frozen projects, convenience and processed food, depending on the application.
Geographical Segmentation:
The Asia-Pacific region is expected to secure large quantities in the global food thickeners market. One factor contributing to this growth is the increased consumption of many types of food concentrators in the Asia Pacific market. And because food and beverage manufacturers are playing an important role in health, improving functional characteristics, including textures and flavors, and starting product innovation. Due to the high consumption of hydrocolloids, starches, proteins and starch derivatives, North America will achieve a high value in the food concentrator market because it is increasingly used in food and beverage applications. Europe also shows significant growth in the market.
Key market players:
Market participants participating in the food thickener market are Tate & Lyle Plc., Archer Daniels Midland Company, CP Kelco, Ingredion Incorporated, Cargill, TIC Gums, Inc., Ashland Specialty Ingredients and Du Pont.
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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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