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Hydrocolloids Market Will Hit Big Revenues in Near Future

Hydrocolloids Market by Type (Gelatin, Xanthan Gum, Carrageenan, Alginate, Agar, Pectin, Guar Gum, Gum Arabic, MCC, and CMC), Source (Botanical, Microbial, Animal, Seaweed, and Synthetic), Function, Application, and Region - Global Forecast to 2025

 

Northbrook, IL -- (SBWIRE) -- 11/03/2021 -- The hydrocolloids market is estimated to be valued at USD 9.7 billion in 2020 and is projected to reach USD 12.6 billion by 2025, at a CAGR of 5.3% during the forecast period. The demand for hydrocolloids is driven by the rise in demand for convenience food from the food industry. The global market is growing due to the changing lifestyles and eating habits among consumers. The demand for hydrocolloids is also attributed to the consumer awareness on diet, nutrition, and natural products available.

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By application, the food & beverage segment is projected to account for the largest share to the hydrocolloids market during the forecast period

The market, by application, has been segmented into food & beverages, cosmetics & personal care products, and pharmaceuticals. The food & beverages segment is projected to be the largest segment during the forecast period. Hydrocolloids are widely used in dairy products, followed by confectionery, meat & poultry products, beverages, bakery, sauces & dressings, and other applications. The reason for the increasing use of hydrocolloids in the food industry is its ability to modify the properties of food as an emulsifier, stabilizer, gelling agent, and fat replacer.

By type, the market for guar gum is projected to account for the fastest growing in the market during the forecast period

The hydrocolloids market, by type, has been segmented into gelatin, pectin, carrageenan, xanthan, agar, arabic, locustbean gum, carboxymethyl cellulose, alginates, guar gum, and microcrystalline cellulose. Guar gum, by type, is projected to grow at a higher CAGR during the forecast period. Guar gum is widely accepted as an ingredient in various applications including food & beverages, pharmaceuticals, and cosmetics. Its multifunctional properties increase its adoption in end use applications. Food grade guar gum occupies a major share in the market, due to its high demand in the food & beverages industry mainly from the frozen food and confectionery sectors.

By Source, the botanical segment is projected to be fastest growing in the hydrocolloids market during the forecast period

On the basis of source, the market is segmented into botanical, microbial, animal, seaweed, and synthetic. The botanical segment is projected to grow at a higher CAGR during the forecast period. Food manufacturers have also been using blends of these plant gums to obtain better consistency and texturing properties for food products. They do not just provide excellent textures but also protect food products from the external environment by forming a protective coating.

By function, the thickener segment is projected to dominate the market during the forecast period

On the basis of function, the hydrocolloids market is segmented into thickeners, stabilizers, gelling agents, coating materials, fat replacers, and others. The thickeners segment is estimated to be the largest segment in 2020. Hydrocolloids are widely used as thickeners in various food products such as soups, salad dressings, gravies, sauces, and toppings. The main reason for the use of hydrocolloids as thickeners is that they easily disperse when in contact with water so as to provide a thickening effect to the emulsion. Major hydrocolloids used as thickeners include xanthan gum, guar gum, locust bean gum (LBG), gum Arabic, and carboxymethyl cellulose (CMC).

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North America is projected to be the fastest growing market for the forecast period

The North American hydrocolloids market is driven by its application in premium and clean label food products. The US has a large market for bakery, confectionery, convenience food, and packaged food products; hence, it constitutes a major share in the market. Consumers in the US are calorie-conscious, due to which low-calorie and low-fat foods are popular in the country. The increasing prevalence of obesity and cardiac diseases has led to an increasing preference for natural and low-calorie food products among consumers. The growth of the food industry and the increased usage of natural food ingredients and additives drive the market for hydrocolloids in North America. In addition, technological advancements and new product launches have made hydrocolloids available for a wide range of applications in the food & beverage sector, which is projected to drive the growth in the region.

The global market for hydrocolloids is dominated by large players in the food industry Ingredion (US), Cargill (US), DuPont (US), Darling Ingredients (US), ADM (US), and Kerry (Ireland).

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