The food hydrocolloids market has grown significantly, with its size increasing from $3.97 billion in 2023 to $4.21 billion in 2024, reflecting a CAGR of 5.9%. This growth is driven by rising preferences for natural foods, increased demand for processed and convenience foods, greater consumption of fruit-infused beverages, and a preference for natural and clean-label ingredients. The market is expected to continue its strong growth, reaching $5.35 billion by 2028, with a CAGR of 6.2%. Future growth is supported by increasing consumption of functional foods, growing preference for vegan options, higher demand for bakery products, increased uptake of ready-to-eat meals, and rising disposable incomes. Key trends include the development of innovative hydrocolloids, introduction of label-friendly food powders, product innovations, new plant constructions, and evolving food corporations.
Major Driver In The Food Hydrocolloids Market
The escalating demand for processed foods is likely to drive growth in the food hydrocolloids market. Processed foods, which undergo various methods like canning, freezing, and cooking, cater to the modern need for convenience and extended shelf life. This trend is further fueled by extensive marketing and product availability. Food hydrocolloids enhance the texture, stability, and shelf life of processed foods while reducing fat and calorie content. According to the United States Department of Agriculture, the total value of processed food exports in the U.S. rose to $36.59 billion in 2023, marking a 1.7% increase from previous years. Thus, the burgeoning demand for processed foods is set to support the growth of the food hydrocolloids market.
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Food Hydrocolloids Market Competitive Landscape
Cargill Incorporated, Archer Daniels Midland Company, BASF SE, Kraft Foods Group Inc., DuPont de Nemours Inc., International Flavors & Fragrances Inc., Kerry Group plc, Ingredion Incorporated, Ashland Inc., CP Kelco ApS, Tate & Lyle PLC, Darling Ingredients Inc., Jungbunzlauer Suisse AG, Nexira, Palsgaard A/S, Meihua Holdings Group Co. Ltd., Ceamsa, Koninklijke DSM N.V., , W Hydrocolloids Inc., Tic Gums Inc., Polygal AG, Lucid Colloids Ltd., JM Huber Corporation, Deosen Biochemical (Ordos) Ltd., Hindustan Gum & Chemicals Ltd., UNIPEKTIN Ingredients AG
Key Food Hydrocolloids Market Trend
Major companies in the food hydrocolloids market are developing new products like seaweed powder to gain a competitive edge. Seaweed powder, derived from dried and ground seaweed, serves as a versatile and nutritious food ingredient commonly used as a hydrocolloid due to its functional properties. In February 2021, Cargill, a US-based agricultural corporation, introduced Cargill Seagreens, a seaweed powder ingredient that enhances the texture, mouthfeel, and nutritional profile of various food and beverage products, including dairy, bakery, and plant-based items. Rich in essential vitamins, minerals, and antioxidants, Seagreens powder meets the demand for clean-label, functional food solutions and enables product developers to create food and beverages with enhanced sensory experiences.
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Food Hydrocolloids Market Segmentation
The food hydrocolloids market covered in this report is segmented –
1) By Type: Gelatin, Carrageenan, Xanthan Gum, Alginates, Agar, Pectin, Gum Arabic, Locust Bean Gum, Other Types
2) By Source: Plant, Animal, Microbial, Seaweed, Synthetic
3) By Application: Bakery And Confectionery, Meat And Poultry Products, Beverages, Dairy Products, Sauces And Dressing, Other Applications
By Geography:The regions covered in the food hydrocolloids market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the food hydrocolloids market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Food Hydrocolloids Global Market Report 2024 furnishes information about the global food hydrocolloids market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
