Global Food Thickeners Market is Projected to Grow with 5.5% CAGR to $17.7 Billion by 2028, Up From USD 12.2 Billion in 2021

New York, NY, Nov. 30, 2022 (GLOBE NEWSWIRE) -- According to Zion Market Research has published a new research report titled “Global Food Thickeners Market By Type (Protein, Starch and Hydrocolloids), By Source (Animal, Plant, and Microbial), By Application (Bakery, Confectionery, Sauces & Dips, Beverages, Convenience & Processed Food, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028” in its research database.

“According to the latest research study, the demand of global Food Thickeners Market size & share in terms of revenue was valued at USD 12.2 billion in 2021 and it is expected to surpass around USD 17.7 billion mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 5.5% during the forecast period 2022 to 2028.”

What are Food Thickeners? How big is the Food Thickeners Industry?

Food Thickeners Report Coverage & Overview:

Food thickeners are additives that change the texture or consistency of food without changing its flavor. They are typically derived from plant sources that, by absorbing water from the dish, provide the food with more bulk and viscosity. Hydrocolloids, collagen, gelatin, arrowroot, cornstarch, potato starch, sago, tapioca, alganin, and xanthan gum are a few of the regularly used food thickeners. To give a dish a constant texture, they are combined with other ingredients in sauces, gravies, sweets, and puddings.

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Global Food Thickeners Market: Growth Dynamics

One of the main elements fostering an optimistic outlook for the global food thickeners market growth is the significant global growth of the food and beverage industry. Additionally, the market expansion is being fueled by the rising demand for ready-to-eat (RTE) and convenience food products. Starch, hydrocolloids, and proteins are common food thickeners used in the production of RTE dairy and frozen desserts, bread goods, sauces, and dressings. In keeping with this, the market is expanding as a result of the rising demand for nutritious snacks made with natural components. Other growth-promoting aspects include a variety of product developments, such as the introduction of variants with improved organoleptic properties, component emulsification, and palatability. To increase the effectiveness of the thickening agents, product producers are now creating low-calorie, organic, and water-soluble food thickeners. The market is expected to be further fueled by additional factors such as increased consumer spending power and changing food consumption habits.

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Food Thickeners Market: Segmentation Analysis

The global food thickeners market is segmented based on type, source, application, and region.

The protein, starch, and hydrocolloid segments of the global market are divided based on type. With the largest market share, the hydrocolloids market category is anticipated to continue to dominate during the forecast period. Among the many hydrocolloids used as food thickeners are alginate, pectin, locust bean gum, guar gum, xanthan gum, carrageenan gum, and beta-glucan. Hydrocolloids are used more frequently in the food and beverage sector because they are fiber-rich and stable at low pH levels. Hydrocolloids are also frequently used as thickeners and food additives. However, during the projected period, the starch segment is anticipated to expand significantly. Because of its high viscosity, stability, and low cost, starch is expected to be used as a food thickener more frequently throughout the projected time. The rising demand for gluten-free products is expected to further increase product demand.

The market is divided into the animal, plant, and microbial segments based on the source. Over the anticipated period, the plant-based thickener is anticipated to dominate the market. The majority of applications, such as baking, confectionery, ready-to-eat meals, and others, use products that are made from plants. This is a result of their excellent efficacy and reasonable cost. Among the widely used plant-based food thickeners include pectin, rice flour, tapioca, agar, xanthan gum, and cornstarch. Due to the rising popularity of veganism and vegetarian diets, food thickeners made from plants are also environmentally friendly and in great demand from consumers, notably in bakeries, confectioneries, and processed foods. The cheap availability of raw materials for the production of plant-based food thickeners, together with customer preference for the product, is likely to drive the segment over the forecast period.

The market for food thickeners worldwide is segmented based on application into the bakery, confectionery, sauces & dips, drinks, convenience & processed food, and others. During the projection period, the bakery segment is anticipated to occupy the majority of the market share. The rise in interest in natural and organic baked goods as well as the popularity of healthy snacks are credited with driving the segment's expansion.

The global Food Thickeners market is segmented as follows:

By Type

·Protein

·Starch

·Hydrocolloids

By Source

·Animal

·Plant

·Microbial

By Application

·Bakery

·Confectionery

·Sauces & Dips

·Beverages

·Convenience & Processed Food

·Others

Browse the full “Global Food Thickeners Market By Type (Protein, Starch and Hydrocolloids), By Source (Animal, Plant, and Microbial), By Application (Bakery, Confectionery, Sauces & Dips, Beverages, Convenience & Processed Food, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028” Report at https://www.zionmarketresearch.com/report/food-thickeners-market

Competitive Landscape

Some of the main competitors dominating the global Food Thickeners market include - 

• Ingredion Incorporated
• Cargill
• Incorporated
• CP Kelco U.S. Inc.
• Tate & Lyle
• DuPont Nutrition Bioscience ApS
• Ashland
• ADM
• Jungbunzlauer Suisse AG
• Deosen Biochemical (Ordos) Ltd.
• GELITA AG
• Solvay
• VIKAS WSP LTD.
• DSM
• Guar Resources LLC.
• Medline Industries
• LP
• Kent Precision Foods Group Inc.
• Chimique (India) Ltd
• Fooding Group Limited
• HL Agro Products Pvt. Ltd.
• Emsland Group

Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Food Thickeners market is likely to expand at a CAGR of around 5.5% during the forecast period (2022-2028).
• In terms of revenue, the Food Thickeners market size was valued at around US$ 12.2 billion in 2021 and is projected to reach US$ 17.7 billion by 2028.
• Due to a variety of driving factors, the market is predicted to rise at a significant rate. The global food thickeners market is projected to grow owing to increasing demand from the food & beverages industry.
• Based on the type, the hydrocolloids accounted for the largest market share in 2021.
• Based on the source, the plant segment is projected to dominate the market during the forecast period.
• Based on the application, the bakery segment is projected to hold the majority of the market share during the forecast period.
• Based on region, North America is expected to dominate the market during the forecast period.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Food Thickeners industry?
• What are the main driving factors propelling the Food Thickeners Market forward?
• What are the leading companies in the Food Thickeners Industry?
• What segments does the Food Thickeners Market cover?
• How can I receive a free copy of the Food Thickeners Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2022−2028
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Type, By Source, By Application, and by Geography
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

North America is estimated to dominate the global food thickeners market during the forecast period due to significant demand for product from various industries in the United States and Canada. The highly developed food and beverage industries of the United States and Canada dominate the North American market. The existence of many worldwide food processing and manufacturing companies benefits the market, even more, resulting in increased demand for the product.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

• In January 2021, Tate & Lyle expanded its line of tapioca-based starches. The expansion includes the launch of new REZISTA MAX thickening starches and BRIOGEL gelling starches. This has helped the company to widen its product portfolio.

In May 2019, Bioriginal introduced a new product named XanFlax which is a natural thickening agent that can be used as a non-GMO replacement for xanthan gum in a variety of food applications.

Report Scope

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Frequently Asked Questions (FAQs):

1.      Which key factors will influence the food thickeners market growth over 2022-2028?

-        The rising popularity of natural products in the food and beverage industries is expected to fuel the significant growth rate of the food thickeners market during the forecast period. Furthermore, the use of food thickeners to enhance the taste and aroma of the food is another factor that drives the market growth.

2.      What will be the value of the food thickeners market during 2022-2028?

According to the report, the global food thickeners market size was worth around USD 12.2 billion in 2021 and is predicted to grow to around USD 17.7 billion by 2028 with a compound annual growth rate (CAGR) of roughly 5.5% between 2022 and 2028.

3.      Which region will contribute notably towards the food thickeners market value?

-        The global food thickeners market growth is expected to be driven by North America. It is currently the world’s highest revenue-generating market owing to the presence of major market players.

4.      Which are the major players leveraging the food thickeners market growth?

-        The global food thickeners market is dominated by players like Ingredion Incorporated, Cargill, Incorporated, CP Kelco U.S., Inc., Tate & Lyle, DuPont Nutrition Bioscience ApS, Ashland, ADM, Jungbunzlauer Suisse AG, Deosen Biochemical (Ordos) Ltd., GELITA AG, Solvay, VIKAS WSP LTD., DSM, Guar Resources, LLC., Medline Industries, LP, Kent Precision Foods Group, Inc., Chimique (India) Ltd, Fooding Group Limited, HL Agro Products Pvt. Ltd., Emsland Group, among others.

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