Rising demand for thickening agents such as agar in the bakery and confectionary industry propels the growth of the food thickener market. North America currently dominates the food thickeners market due to stringent food safety standards of the regulatory authorities, where this region emerged as the largest market for the global food thickeners market, with a 35.7% share of the market revenue in 2021.
Newark, Sept. 29, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global food thickeners market is expected to grow from USD 12.8 billion in 2021 to USD 21.2 billion by 2030, at a CAGR of 5.8% during the forecast period 2022-2030.
The need for food thickeners is projected to increase due to the growing demand for convenience food, consumer awareness of healthy eating and active lifestyles, and the several benefits of using food thickeners. Food thickener producers continually invest in and concentrate on product innovation to broaden their product lines and enhance functional qualities like flavor, texture, and other organoleptic features of their goods, fueling the global demand for food thickeners.
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For instance, researchers at Oregon State University developed and commercialized Ropy 352, a brand-new kind of dairy thickening. Some of the products that use Ropy 352 may incorporate probiotic properties. According to Oregon State University, the US spends up to USD 120 billion annually on probiotic goods like buttermilk, yogurt, and sour cream. Numerous potential natural thickeners are being looked at or are waiting to be approved. Cress seed gum, for instance, is one of the possible food thickeners.
To enhance their market position in the global food thickeners market, the key players are now focusing on adopting the strategies such as product innovations, mergers & 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 replacement for xanthan gum in various food applications.
Market growth and trends:
The demand for food thickeners has been growing owing to consumers' increasing demand for convenience food such as processed food, packaged food, bakery products, confectionery products, etc. Moreover, the increasing application of food thickeners, owing to their high efficiency in processing, is expected to drive the market's growth. Furthermore, increasing demand for protein-rich products, ready-to-eat snacks, and nutritional foods propel the growth of the food thickeners market. However, the high capital requirement for the food thickeners market is expected to hamper the market's growth over the forecast period. There are various food thickeners available in the market, such as starch-based instant food thickeners, powdered xanthan gum thickeners, liquid xanthan gum-based gel thickeners, and others.
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● In 2021, the hydrocolloids segment dominated the market with the largest market share of 41% and revenue of 5.2 billion.
The type segment is divided into protein, starch, and hydrocolloids. In 2021, the hydrocolloids segment dominated the market with the largest market share of 41% and revenue of 5.2 billion. The hydrocolloids are widely used in confectionery products as food thickeners in jelly, chewing gum, jam, marmalade, and low sugar/calorie gels, driving the segment's growth.
● In 2021, the plant segment accounted for the largest share of the market, with 39.4% and a market revenue of 5.04 billion.
The source segment is divided into animal, plant, and microbial. In 2021, the plant segment accounted for the largest share of the market, with 39.4% and a market revenue of 5.04 billion. Plant-based thickeners are used in various applications such as confectionery, bakery, ready to eat meals, among others, owing to their high efficacy and low pricing.
● In 2021, the bakery segment accounted for the largest market share, with 20.8% and market revenue of 2.6 billion.
The application segment is divided into the bakery, confectionery, sauces & dips, beverages, convenience & processed food, and others. In 2021, the bakery segment accounted for the largest share of the market, with 20.8% and a market revenue of 2.6 billion. Food thickeners are widely used in the bakery sector owing to the changing lifestyles due to rapid urbanization coupled with rising disposable incomes driving the segment's growth.
Regional Segment Analysis of the Food Thickeners Market:
● North America (U.S., Canada, Mexico)
● Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
● Asia-Pacific (China, Japan, India, Rest of APAC)
● South America (Brazil and the Rest of South America)
● The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, North America emerged as the largest market for the global food thickeners market, with a market share of around 35.7% and 4.5 billion of the market revenue in 2021. The increasing globalization in the food and beverages sector and economic development contribute to the growth of the food thickeners market in the region. Furthermore, the demand for convenience food items, along with rising consumer awareness toward products with a traditional and exotic taste, is expected to increase the need for food thickeners in the region. Furthermore, the increasing awareness about the importance of food thickeners among food product manufacturers propels the market's growth in the region.
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Key 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.
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 below-mentioned segments:
Global Food Thickeners Market by Type:
Global Food Thickeners Market by Source:
Global Food Thickeners Market by Application:
● Sauces & Dips
● Convenience & Processed Food
About the report:
The global food thickeners market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.