Pune, India, June 22, 2022 (GLOBE NEWSWIRE) --
As per a recent industry report put forward by Graphical Research, the Europe food thickeners market is forecast to register its name in the billion-dollar fraternity down the line of seven years, by exceeding a revenue of USD 2.5 billion by 2026.
Flourishing food & beverage industry has triggered growth in the Europe food thickeners market share. Specifically, increased demand for achieving desired stability, flow and texture in commercial spaces has prompted food thickener manufacturers to up their investments in the product. Notably, these thickeners augment the consistency and stability of food products.
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With the impact obesity has had on the European population, the manufacturers have furthered their R&D activities to produce fat replacement containing ingredients. Given the trend for plant & microbial based thickeners, industry leaders are expected to infuse funds in the landscape.
Trends which are expected to remain instrumental for leading companies vying to expand their portfolios are elucidated below:
Demand for hydrocolloids to become noticeable
With the trend for hydrocolloids becoming noticeable as thickeners in light of utilitarian features, such as stabilization and condensation of food ingredients, traction for hydrocolloids is likely to remain pronounced in the next few years. End-users have also exhibited inclination for hydrocolloids in products, including poultry & meat products, bakery and beverages and sauces and dressings.
Traction from bakery & confectionery end-markets to bode well
With the expanding legacy of bakery products, usage of thickeners will continue to rise by leaps and bounds. Europe bakery market size was 225 billion in 2017 and is likely to exceed USD 272 billion by 2026. Prominently, the Europe food thickeners market from bakery & confectionery was valued at more than USD 330 million in 2019.
Considering the trend for beverages, bakery, meat and dairy, applications of products such as arrowroot, cornstarch, gelatin, agar and eggs will continue to expand. It is worth noting that these products boost the flow and consistency needed for manufacturing various food & beverage products.
Protein based food thickeners to reinforce growth
Protein thickeners will continue to gain traction in bakery products for icing of pastries and cakes. More importantly, these thickeners have gained popularity foaming agents in the light of their superior foaming characteristics.
Considering the trend to replace gluten based products with safer food additives, protein based food thickeners are expected to reinforce the industry size expansion. It is pertinent to mention that consumers have upped their focus on safe and chemical-free products. Europe food thickeners market from protein based food thickeners segment is expected to grow robustly at a 5.5% CAGR through 2026.
Nonalcoholic beverages to remain in the mix
A gradual shift towards nonalcoholic beverages has prompted food thickeners producers to up their production capacities. While the industry share of the beverages application segment was pegged at around 19.9%, the Europe nonalcoholic beverages market is forecast to be valued at over USD 633 billion by 2026.
Food thickeners have gain ground in several beverages, including juices, fruit pulps and energy drinks that help to attain required viscosity and improve foodstuff texture. A pronounced rise in the consumption of energy and nutritional drinks will further the industry outlook.
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Germany to come up as a key market
Soaring vegan population has made Germany a happy hunting ground for plant based food thickeners. According to a study, fully or partial vegetarian population zoomed from less than a million (700,000) in 2014 to 8 million in 2019.
In terms of revenue, Germany food thickeners market was pegged at over USD 400 million in 2019. Germany is likely to provide revenue-boosting opportunities to leading companies gearing to expand their market presence in untapped areas.
About Graphical Research:
‘Graphical Research’ provides a large collection of market research and industry analysis reports covering healthcare, automotive, oil and gas, pharmaceutical, IT, agriculture, chemicals, and many other sectors, across diverse regions like North America, Europe, Asia Pacific, Latin America, and others. The comprehensive reports we provide are aligned with the key industry trends and insights in specific regional markets. The data we deliver helps our customers make better strategic decisions. Our goal is to offer competitive and quality customized market research reports.
