Rockville, Nov. 10, 2022 (GLOBE NEWSWIRE) -- The plant hydrocolloids market analysis offered by Fact.MR scrutinizes key factors impacting the sales in the market. The report offers in-depth insights covering vital factors such as drivers, opportunities, key player strategies, and demand outlook for the plant hydrocolloids market. In addition to this, the study analyzes latest trends across segments including source, application, function, and form for the forecast period (2019-2029).
Fact.MR – A Market Research and Competitive Intelligence Provider: The global plant hydrocolloids market is expected to grow at a steady pace during the forecast period owing to the rising demand for convenience and ready-to-eat food products worldwide. Plant hydrocolloids are a class of plant-based food ingredients that are widely applied in various food products. They have become an ideal alternative to synthetic hydrocolloids and are environmentally friendly in nature.
Thanks to their organic and sustainable nature, plant hydrocolloids are extensively used as functional ingredients in food formulation for increasing food consistency, improving gelling effect, and controlling the microstructure, flavor, texture, and shelf life.
Rising usage of plant hydrocolloids in ready-to-eat, frozen, and packaged foods coupled with increasing consumption of these products is expected to boost the growth of the global plant hydrocolloids market during the forecast period.
Similarly, growing health consciousness among consumers and increasing demand for natural food additives are likely to bolster sales of plant hydrocolloids over the projection period. Additionally, growing usage of plant hydrocolloids in dairy, bakeries, and confectioneries and other products due to their multifunctionality feature will elevate the demand for these ingredients through 2029.
Plant hydrocolloids are used in a variety of food products such as bread, cakes, biscuits, and ice cream. They can also be found in other food products such as jellies, processed meats, and soups. All these applications of plant hydrocolloids contribute to market expansion.
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Usage of plant hydrocolloids in ready-to-eat and frozen and packaged food has been on a continuous rise in recent years. Key factors driving this trend are their functional properties such as water binding, emulsifying, stabilizing, thickening, etc., which makes them suitable for processing difficult foods such as ice cream, salad dressings, and sauces.
Regionally, Asia-Pacific will emerge as the fastest growing plant hydrocolloids during the forecast period owing to increased demand for processed and convenient food products, changing dietary habits, and growing preference for organic and clean label products.
Key Takeaways:
- By application, dairy products and bakery & confectionery segment is likely to hold a significant share of the global plant hydrocolloids market by the end of the forecast period.
- APEJ plant hydrocolloids market is anticipated to generate an absolute $ opportunity of US$ 1.4 billion between 2019-2029.
- North America will continue to remain a leading plant hydrocolloids market during the forecast period.
- Latin America is expected to emerge as a lucrative market for plant hydrocolloids during the projection period.
- Demand for plant hydrocolloids across India and China is expected to grow at a significant pace over the next ten years.
Growth Drivers:
- Rising application in food and beverage industry is expected to drive the global hydrocolloids market swiftly during the forecast period.
- The market for plant hydrocolloids is projected to be impacted by the rising number of packaging technology innovations that have increased demand for convenience meals.
- Growing preference for natural food additives is expected to elevate the sales of plant hydrocolloids during the projection period.
Restraints:
- Implementation of stringent regulations is acting as a barrier to the expansion of plant hydrocolloids market.
- Volatility in raw material prices along with ambiguous labeling is also expected to limit market growth during the forecast period.
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Competitive Landscape:
The global plant hydrocolloids market is highly competitive in nature due to the presence of a large number of key players. Key players are mainly focusing on online marketing and product range expansions to strengthen their positions in the global market. Besides this, they are engaging in partnerships and collaborations with local companies to co-develop innovative products.
For instance,
- In September, Cargill, Inc. announced the launch of a new, cutting-edge pectin manufacturing plant in Bebedouro, Brazil. The factory, which represents a US$ 150 million investment, greatly increases the company's capacity to fulfill expanding demand for the label-friendly texturizing component. It will produce the whole line of HM pectins made by Cargill, Inc., greatly boosting the company's supply of pectin and boosting production on the continents of South America and Europe.
- In February 2021, Tale & Lyle PLC announced the launch of the Tale & Lyle Nutrition Centre, a new digital hub providing easy access to authorities’ science on ingredients that can help address public health challenges. The hub houses expert’s insights, research and educational tools for food and beverage companies, scientists, and health professionals.
Key Companies Profiled by Fact.MR
- CP Kelco U.S., Inc.
- Cargill, Incorporated.
- Dow
- DSM
- Ashland
- Symrise
- Lonza
- Kerry Inc.
- Ingredion Incorporated
- ADM
- DSM
- FMC Corporation
- Tate & Lyle
- Darling Ingredients Inc.
- BASF SE
- Glanbia plc
- Nexira
- Deosen Biochemical (Ordos) Ltd.
- Exandal
- Fufeng Group Company Limited
- AGARMEX, S.A. DE C.V.
- Altrafine Gums
- ABCSteps Technologies Pvt. Ltd.
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More Valuable Insights on Plant Hydrocolloids Market
In the latest study, Fact.MR offers a detailed study on global plant hydrocolloids market for the forecast period of 2019 to 2029. This study also highlights key drivers promoting the sales of plant hydrocolloids through detailed segmentation as follows:
By Source:
- Cellulosics
- Pectin
- Guar Gum
- Locust Bean Gum
- Gum Arabic
- Other Sources
By Application:
- Dairy Products and Bakery and Confectionery
- Sauces, Dressings, and Condiments
- Beverages
- Snacks and Savoury
- Meat and Poultry
- Other Applications
By Function:
- Emulsifying Agent
- Thickening Agent
- Stabilizing Agent
- Gelling Agent
By Form:
- Liquid
- Dry
By Region:
- North America
- Latin America
- Europe
- Japan
- Asia Pacific excluding Japan (APEJ)
- Middle East and Africa (MEA)
Key Questions Covered in the Plant Hydrocolloids Market Report
- What is the projected value of the plant hydrocolloids market in 2019?
- At what rate will the global plant hydrocolloids market grow until 2029?
- Which are the factors hampering the growth in the plant hydrocolloids market?
- Which region is expected to lead in the global plant hydrocolloids market during 2019-2029?
- Which are the factors driving the plant hydrocolloids market during the forecast period?
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