Food Hydrocolloids Market to Reach $7,805.9 Million, Globally, by 2032 at 5.9% CAGR: Allied Market Research

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Nov 16, 2023, 10:30 ET

Growth of the food hydrocolloids market is driven by increase in consumption of processed foods along with rise in awareness of the health advantages offered by the usage of hydrocolloids in food products. Development of new & innovative hydrocolloids has potential to create opportunities for the market expansion in coming years.

PORTLAND, Ore., Nov. 16, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Food Hydrocolloids Market By Type (Gum Arabic, Carboxymethyl Cellulose, Xanthan Gum, Carrageenan, Pectin, Others), By Source (Plant, Animal, Microbial), By Application (Bakery, Confectionery, Sauces, Dressings, Marinades And Gravies, Beverages, Dairy And Frozen Desserts, Convenience And Processed Foods): Global Opportunity Analysis and Industry Forecast, 2022–2032". According to the report, the global food hydrocolloids market was valued at $4,439.0 million in 2022, and is projected to reach $7,805.9 million by 2032, registering a CAGR of 5.9% from 2023 to 2032.

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Prime determinants of growth

Growth of the global food hydrocolloids market is majorly driven by upsurge in demand for processed food in which hydrocolloids are used frequently to increase its stability and other characteristics depending on the type of food product. Moreover, increase in awareness related to health benefits of hydrocolloids and rise in popularity of gluten-free and allergen-free alternatives have further driven the market. In addition, development of new & innovative hydrocolloids along with rise in demand for natural & clean label products have created ample opportunities for food hydrocolloids market growth.

Report coverage & details:

Report Coverage	Details
Forecast Period	2022–2032
Base Year	2022
Market Size in 2022	$4,439.0 Million
Market Size in 2032	$7,805.9 Million
CAGR	5.9 %
No. of Pages in Report	275
Segments covered	Type, Source, Application, and Region.
Drivers	Increase in demand for processed foods Rise in awareness related to health benefits of hydrocolloids Rise in popularity of gluten-free and allergen-free alternatives
Opportunities	Development of new & innovative hydrocolloids Growth in demand for natural & clean label products
Restraints	Fluctuation in raw material prices Stringent regulations & international quality standards

The xanthan gum segment to maintain its leadership status throughout the forecast period

Based on type, the xanthan gum segment held the highest market share in 2022, accounting for more than one-fourth of the global food hydrocolloids market revenue and is estimated to maintain its leadership status throughout the forecast period. Xanthan gum segment exhibits versatility that drives its increase in adoption in various food applications. It serves as an important additive in baked goods such as bread and cakes, as it enhances water retention & softness during baking & storage process. It improves taste, extends the shelf life of food products, and enhances water retention while tenderizing & improving water retention in meat products. This quality propels the use of food hydrocolloids in the meat packaging industry. Thus, the demand for xanthan gum is growing significantly boosting the market growth.

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The plant segment to maintain its leadership status throughout the forecast period

Based on source, the plant segment held the highest market share in 2022, accounting for more than half of the global food hydrocolloids market and is estimated to maintain its leadership status throughout the forecast period. The preferences of health-conscious consumers have driven the growth of plant-based hydrocolloids in the market. These hydrocolloids derived from plants, offer functional benefits without any addition of synthetic additives. They act as substitutes for animal-based options, which meets texture & functionality requirements, particularly catering to those following vegan or vegetarian diets. This trend has the ability to align with the clean label movement, which emphasizes the demand of consumers for transparent & recognizable ingredients in their food & beverages.

The dairy and frozen desserts segment to maintain its leadership status throughout the forecast period

Based on application, the dairy and frozen desserts segment held the highest market share in 2022, accounting for more than one-fourth of the global food hydrocolloids market and is estimated to maintain its leadership status throughout the forecast period. Demand for frozen food in developing countries has grown due to change in consumer lifestyles & preferences. In recent years, rise in per capita income in Asia-Pacific nations has caused significant shifts in eating habits. This transformation, fueled by a preference for more upscale living, has resulted in a notable increase in market size and overall request for dairy & frozen food items. In addition, the segment is driven by high affinity of consumers toward dairy products due to its high nutritional contents, improvements in the retail structure, especially in the emerging markets. All these factors increase the demand for the dairy and frozen desserts.

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Europe to maintain its dominance by 2032

Based on region, Europe held the highest market share in terms of revenue in 2022 and is likely to dominate the market during the forecast period. The demand for healthy beverage options such as fruit-flavored drinks and energy drinks, has witnessed a significant upswing among consumers due to the various adverse health effects associated with carbonated drinks. This consumer trend is expected to persist and shape the market landscape in the anticipated period. In addition, increase in demand for exotic flavors and evolving consumer preferences are driving the growth of the food hydrocolloids market in Europe.

Leading Market Players: -

CP Kelco U.S., Inc.
Cargill, Incorporated
Ingredion Incorporated
Tate & Lyle PLC, Kerry Group plc
Jungbunzlauer Suisse AG
Deosen Biochemical (Ordos) Ltd.
Ashland
Koninklijke DSM N.V.
International Flavors & Fragrances Inc.

The report analyzes government regulations, policies, and patents to provide information on the current market trends and suggests future growth opportunities globally. Furthermore, the study highlights the Porter's five forces analysis to determine the factors affecting market growth.

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