New York, Feb. 22, 2023 (GLOBE NEWSWIRE) -- According to the report published by Next Move Strategy Consulting, the Hydrocolloids Market generated USD 13.15 billion in 2021 and is projected to reach USD 20.21 billion by 2030, at a CAGR of 4.9% from 2022 to 2030. The research offers a detailed analysis regarding drivers, restraints, and opportunities to highlight the changing market dynamics. Moreover, the research provides an extensive analysis of major segments and their sub-segments to determine the fastest-growing and highest revenue-generating segments.
Equipping the detailed analysis of each and every aspect of the hydrocolloids industry in 500 pages along with 354 tables and 335 figures, the report aims to provide a helpful source of information for leading players, investors, and startups take necessary steps to achieve sustainable growth and competitive advantage.
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| Report Coverage | Details |
| Forecast Period | 2022–2030 |
| Base Year | 2021 |
| Market Size in 2021 | USD 13.15 Billion |
| Market Size in 2030 | USD 20.21 Billion |
| CAGR | 4.9% |
| No. of Pages | 500 |
| Tables | 354 |
| Figures | 335 |
| Segments covered | Type, Source, Application, and Industry Vertical |
| Drivers | Multifunctionality of hydrocolloids to lead to their wide range of applications |
| Increasing popularity of clean label additives due to a rise in health and wellness trend | |
| Increasing population and rise of the nutritionally-aware consumers are propelling the growth of the hydrocolloids market | |
| Opportunities | Rising expansion of ready meal convenience foods worldwide create growth opportunities |
The report provides an extensive analysis of changing market trends of the global hydrocolloids market based on drivers, restraints, and opportunities. The growing population and nutritionally-aware consumers are driving the hydrocolloids market growth during the forecast period. In addition, due to a rise in health and wellness trend, clean label additives are becoming increasingly popular, which in turn boost the market growth.
However, stringent regulations and international quality standards pertaining to hydrocolloids use restrain the market growth.
Lead Analyst for the hydrocolloids market at Next Move Strategy Consulting, stated, “Rising expansion of ready meal convenience foods worldwide is expected to create opportunities for the hydrocolloids market in the coming years”.
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The report offers detailed segmentation of the hydrocolloids market based on type, source, application and industry vertical. By type, the report divides the market into gelatin, xanthan gum, carrageenan, alginates, agar, pectin, guar gum, locust bean gum (LBG), gum arabic, carboxymethyl cellulose (CMC), and microcrystalline cellulose (MCC). On the basis of application, the market is classified into thickener, stabilizers, gelling agents, fat replacers, coating materials, and others. Based on source, the market is categorized into botanical, microbial, animal, seaweed, and synthetic. On the basis of industry vertical, the market is divided into food & beverage, cosmetics, pharmaceuticals, and others.
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The Asia-Pacific region accounted for the highest market share in 2021, and is estimated to maintain its dominance throughout the forecast period. Increasing interest in research & development and innovations in hydrocolloids is driving the hydrocolloids market growth. In addition, rising demand for natural hydrocolloids, increase in demand for processed food, increasing health concerns among consumers, and changing customer preferences towards low-fat food are some of the main factors driving the growth of the hydrocolloids market.
However, North America is projected to register a steady growth rate throughout the forecast period, owing to the increasing health consciousness among customers and surging awareness for diet, nutrition, and natural products. Additionally, the multifunctionality of hydrocolloids along with changing lifestyles and eating habits are other important factors that drive the growth of the hydrocolloids market in this region.
The research offers an analysis of each region and its countries based on segments and their sub-segments to outline steps to be taken to consolidate presence in the hydrocolloids industry. This analysis is also helpful in determining the highest-revenue generating and fastest-growing segments and taking the next steps accordingly.
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The report offers a detailed analysis of leading market players of the hydrocolloids market. Leading players analyzed in the research include Cargill Inc., CP Kelco Inc., Kerry Group PLC, DSM N.V., Archer Daniels Midland Company, Ashland Global Holdings Inc., Hawkins Watts Ltd., Gelnex Industria e Comercio Ltd., Taiyo Kagaku Co. Ltd., and Fiberstar Inc.
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