Portland, July 18, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Food texture Market By Type (Cellulose Derivatives, Gums, Pectins, Gelatins, Starch, Inulin, Dextrins, Others), By Application (Dairy Products And Ice Creams, Confectionery, Jams, Layers, Fillings, Bakery, Meat Products, Ready Meals, Sauces, Beverage, Others), By Product (Natural, Synthetic): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the global food texture market generated $13,820.0 Million in 2023 and is anticipated to generate $23,914.9 Million by 2032, witnessing a CAGR of 5.7% from 2023 to 2032.
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Prime determinants of growth
The food texture market is experiencing significant growth owing to the shift in customer preferences, technological improvements, and the rise in demand for processed & convenience foods.Companies in the food texture sector have a strategic opportunity to work with food makers.Research and development in texture-improving substances have a lot of potential. However, the overall cost of food products may increase if texture-enhancing additives and methods are used, which may restrain the market growth.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023-2032 |
| Base Year | 2023 |
| Market Size in 2023 | $13,820.0 Million |
| Market Size in 2031 | $23,914.9 Million |
| CAGR | 5.7% |
| No. of Pages in Report | 378 |
| Segments covered | Type, Application, Product, and Region |
| Drivers | Evolving Consumer Preference Product Differentiation and Innovation Health and Wellness Trends |
| Opportunities | Plant-based and Alternative Protein Products Personalized Nutrition and Texture |
| Restraints | Regulatory and Labeling Challenges |
The Cellulose Derivatives segment to maintain its leadership status throughout the forecast period
Based on type, the cellulose derivatives segment held the highest market share in 2023, accounting for more than one-fifth of the global food texture market revenue, and is estimated to maintain its leadership status throughout the forecast period. The demand for cellulose derivatives has increased in view of increased consumer preference for clean labeling and ingredients derived solely from nature. However, others segment is projected to manifest the highest CAGR of 7.2% from 2023 to 2032, a surge in focus on healthier eating habits and the reduction of fat content in food products is further driving the market growth.
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The Dairy Products Ice Creams segment to maintain its leadership status throughout the forecast period
Based on application, the dairy products Ice Creams segment held the highest market share in 2022, accounting for more than one-fifth of the global food texture market revenue, and is estimated to maintain its leadership status throughout the forecast period. Changing consumers' preferences, needs for product differentiation, and desire to enhance sensory experience are leading to increased demand for texture-altering ingredients in dairy products and ice cream. Additionally, others segment is projected to manifest the highest CAGR of 9.3% from 2023 to 2032. The upsurge in emphasis on animal health and welfare, as well as the humanization of animals, has led to an increase in demand for high-quality enjoyable pet food.
The Natural segment to maintain its leadership status throughout the forecast period.
Based on product, the natural segment held the highest market share in 2022, accounting for more than three-fifths of the global food texture market revenue, and is estimated to maintain its leadership status throughout the forecast period. Additionally, this segment is projected to manifest the highest CAGR of 5.9% from 2023 to 2032. Consumers are increasingly buying products with clean labels and natural ingredients. The rise in awareness of ingredients consumers use and the need to be transparent with food labeling are influencing consumer behavior.
North America to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly one-third of the global food texture market revenue. The focus is on clean labels and natural ingredients in the North American food texture market. The issue of ingredients used in food has become increasingly important to consumers, and they continue to be sought for products that have more straightforward and identifiable ingredient lists. This has led to an increase in demand for organic and clean-label texture solutions, such as natural thickeners and stabilizers. In addition, the Asia-Pacific region is also expected to witness the fastest CAGR of 6.6% from 2023 to 2032 and is likely to dominate the market during the forecast period. Asia-Pacific has seen an increase in demand for convenience and ready-to-eat foods. A greater demand for processed and packaged foods that are easily prepared and consumed was created by increasing lifestyles and urbanization. The essential role in ensuring the desired texture, stability, and sensory attributes of such convenience products is to be played by food texture solutions. In Asia-Pacific, there has been a growing awareness of health and wellness among consumers in recent years.
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Leading Market Players: -
- Kerry Group P.L.C.
- CP Kelco U.S., Inc
- Koninklijke DSM N.V.
- Archer-Daniels-Midland Company
- Cargill, Incorporated
- Deosen Biochemical (Ordos) Ltd.
- Jungbunzlauer Suisse AG
- Ingredion Incorporated
- DuPont de Nemours, Inc.
The report provides a detailed analysis of these key players in the global food texture market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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