Chicago, Oct. 20, 2023 (GLOBE NEWSWIRE) -- The global food texture market is on an upward trajectory, with a projected value of USD 18.8 billion by 2028, marking significant growth from USD 14.3 billion in 2023. This expansion, accompanied by a Compound Annual Growth Rate (CAGR) of 5.6% during the forecast period in terms of value, can be attributed to several driving factors.
Meeting the Convenience Craze: The Demand for Ready-to-Eat Foods
One of the key factors propelling the food texture market is the growing demand for convenience and ready-to-eat food products, particularly in the developing world. Modern lifestyles and changing consumer preferences have fueled a surge in the popularity of on-the-go meal solutions.
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The Health Revolution: Clean-Label Products and Wellness Trends
Another significant driver of market growth is the increase in demand for clean-label products, aligning with the broader consumer shift toward health and wellness. Consumers, especially in developed countries, are increasingly seeking food products free from artificial or synthetic additives due to concerns over potential long-term health effects.
Natural Alternatives for Texture and Shelf-Life Extension
To achieve the desired texture and prolong the shelf life of their products, manufacturers are turning to natural preservatives, thickeners, and sweeteners. This shift toward natural alternatives is driven by a more health-conscious consumer base that seeks minimally processed and naturally sourced food and beverage options.
The Momentum of Clean-Label Products in the Packaged Food Industry
The trend toward clean-label products is gaining momentum on a global scale, impacting the entire packaged food industry. Consumers are showing a growing interest in understanding the ingredients and production processes used in their food products. They are also willing to pay a premium for products they perceive as clean and free of harmful additives. This heightened scrutiny of labels and nutritional information is significantly influencing purchasing decisions.
Natural Dominance in the Food Texture Market
Within the food texture market, the natural segment has surged to the forefront. Traditional texturizers like cornstarch, gelatin, agar agar, and pectin, derived from natural sources, have gained popularity and widespread commercialization. This segment is expected to experience the highest growth rate during the forecast period, thanks to its strong appeal among consumers seeking natural alternatives with perceived health benefits and sustainability.
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North America's Leadership in the Food Texture Market
North America has played a dominant role in the food texture market during the study period. The region, with a well-established food and beverage industry, is home to numerous leading manufacturers, including Tyson Foods, The Coca-Cola Company, Mondelez International, General Mills, and The Kraft Heinz Company. The United States stands out as one of the top 10 exporters of cellulose and its chemical derivatives, as well as pectin. Canada is also among the top 10 exporters of gelatin, underlining the region's significant production capacity of various food texturizers.
Key Players Shaping the North American Market
Key players in North America's food texture market, such as ADM, International Flavors & Fragrances Inc., DSM, and CP Kelco US Inc., are instrumental in shaping the industry landscape. This article provides an in-depth competitive analysis of these market leaders, offering insights into their company profiles, recent developments, and key market strategies. As the food texture market continues its upward trajectory, these players are poised to play a pivotal role in its growth and evolution.
FAQs:
Q1. How big is the food texture market?
Q2. What are some of the drivers fueling the growth of the food texture market?
Q3. Which region is expected to hold the highest market share?
Q4. Which segments are projected to have a promising growth rate in the future?
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