Pune, India, Oct. 27, 2023 (GLOBE NEWSWIRE) -- The global hydrocolloids market size is expected to experience substantial growth by reaching USD 13.30 billion by 2027 while exhibiting a CAGR of 5.13% between 2020 and 2027. This is attributable to the growing demand for convenience food products and the growing awareness regarding the benefits of clean-labeled additives such as hydrocolloids across the globe. Hydrocolloids are a group of substances derived from natural or synthetic sources that have the unique ability to interact with water, forming a gel-like structure. These compounds can be found in various forms, including powders, gels, and liquids, and they are valued for their diverse functionalities.
The most commonly used natural hydrocolloids include agar-agar, carrageenan, pectin, and guar gum, while synthetic options like carboxymethyl cellulose (CMC) and xanthan gum are widely employed as well. Each of these hydrocolloids possesses distinctive properties, making them suitable for specific applications.
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Leading Players Featured in the Research Report:
Companies leading the hydrocolloids market are Kerry Group plc (Tralee, Ireland), Koninklijke DSM N.V. (Heerlen, Netherlands), Cargill, Incorporated (Minnesota, United States), Archer-Daniels-Midland Company (Illinois, United States), DuPont de Nemours, Inc. (Delaware, United States) , Ashland Global Holdings Inc. (Delaware, United States), J.M. Huber Corporation (New Jersey, United States), W Hydrocolloids, Inc. (Philippines), Ingredion, Incorporated (Illinois, United States) and Tate & Lyle plc (London, United Kingdom), and more players.
Report Scope & Segmentation:
| Report Attributes | Details |
| Forecast Period | 2020-2027 |
| Forecast CAGR | 5.13% |
| 2027 Value Projection | USD 13.30 Billion |
| Hydrocolloids Market Size in 2019 | USD 9.07 Billion |
| Historical Data | 2016-2018 |
| No. of Pages | 200 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Hydrocolloids Market Growth Drivers | Increasing Demand for Convenient Food Products to Aid Growth |
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Slow Market Growth at 3.31% CAGR Predicted amid COVID-19
Based on our analysis, the global market for hydrocolloids is expected to showcase slow-paced growth while exhibiting a CAGR of 3.31% in 2020. This is due to the imposition of the lockdown announced by the government agencies that has led to the shutdown of several stores and other industrial activities globally. This has led to significant supply chain disruption and lower demand for raw materials impacting the market growth. However, the market is expected to recover steadily post-COVID-19 pandemic with growing awareness amongst people regarding natural and clean-labeled food products.
Hydrocolloids are polymers, mostly proteins, and polysaccharides, that have the property of forming gels or viscous dispersion when combined with water. Additionally, their ability to provide the right viscosity, structure, and texture to several food products enables their wider adoption in manufacturing several food products worldwide.
Hydrocolloids Market Segmentation:
Food & Beverages Segment to Hold Major Market Share
The food & beverages segment, based on application, is expected to experience considerable growth in the forthcoming years. This is ascribable to factors such as the growing demand for natural and nutritious food products that contain hydrocolloids worldwide.
What does the Report Provide?
The market report provides a qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to announce partnerships, introduce new products, and collaborate to further contribute to the growth of the market. Moreover, the research analyst has adopted several research methodologies such as Porter’s Five Forces analysis to extract information about the current trends and industry developments that will drive the market growth between 2020 and 2027.
The hydrocolloids market is a fascinating and dynamic sector, where science, innovation, and consumer preferences converge. From the food on our plates to the medicines we take and the personal care products we use, hydrocolloids are quietly but profoundly influencing the quality and experience of these products. As the world continues to evolve, the hydrocolloids market will undoubtedly keep pace, adapting to the ever-changing demands of consumers and industries alike. The hydrocolloids market is a multi-faceted industry, with applications ranging from the food and beverage sector to the pharmaceutical and cosmetic industries.
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Driving Factors:
Increasing Demand for Convenient Food Products to Aid Growth
The increasing awareness regarding the consumption of clean-labeled food products is likely to drive the adoption of clean-labeled additives such as hydrocolloids. The growing demand for healthy, convenient food products owing to high nutritional content is expected to boost the adoption of the products globally. Moreover, the rising healthy issue due to the consumption of harmful fatty foods such as burgers, pizzas, and others is propelling the consumers to adopt a healthy meal regime. These factors are likely to contribute to the global hydrocolloids market growth in the forthcoming years.
Challenges and Future Prospects:
While the hydrocolloids market is thriving, it is not without challenges. One significant challenge is the potential for allergic reactions to certain hydrocolloids, such as carrageenan, which has raised concerns among some consumers. Additionally, regulatory changes and evolving consumer preferences require manufacturers to adapt to new formulations that are both functional and aligned with consumer demands for clean-label products.
Nevertheless, the future of the hydrocolloids market is promising. As demand for texture-enhancing and stabilizing agents continues to grow, the industry will likely respond with innovative solutions. Manufacturers are already exploring new sources for hydrocolloids, such as microorganisms, to reduce dependence on traditional crops and address sustainability concerns.
Hydrocolloids Market Regional Insights:
Asia-Pacific to Remain Dominant; Presence of Manufacturing Units to Promote Growth
Among all the regions, Asia-Pacific is expected to remain at the forefront and hold the highest position in the global hydrocolloids market during the forecast period. This is attributable to the presence of hydrocolloid manufacturing units in countries such as India, Thailand, China, and Indonesia in the region. Asia-Pacific stood at USD 3.44 billion in 2019.
On the other hand, North America is expected to showcase exponential growth backed by the growing demand for fortified convenience food products that is likely to drive the adoption of hydrocolloids in the region between 2020 and 2027.
Competitive Landscape:
Prominent Companies Focus on Facility Expansion to Amplify Their Market Positions
The global hydrocolloids market is consolidated by the presence of key players focusing on expanding their production facility into developing innovative hydrocolloids to cater to the growing demand for functional food products. Additionally, other key players are striving to maintain their footprint by adopting strategies such as partnership, the introduction of new products, and merger and acquisition that will boost the market growth during the forecast period.
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Major Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview on the Parent/Related Market
- Supply Chain Analysis
- Regulatory Analysis
- Recent Industry Developments - Policies, Mergers & Acquisitions, and New Product Launches
- Market Analysis and Insights (in Relation with COVID-19)
- Impact of COVID-19 on the Market
- Supply Chain Challenges due to the Pandemic
- Potential Opportunities to Support the Market during the Global Crisis
- Global Hydrocolloids Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type (Value)
- Xanthan Gum
- Carrageenan
- Guar Gum
- Gelatin
- Others (Agar and Pectin)
- By Source (Value)
- Microbial
- Animal
- Seaweed
- Others (Botanical and Synthetic)
- By Application (Value)
- Food and Beverages
- Pharmaceuticals
- Cosmetics and Personal Care
- By Region (Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Type (Value)
To Be Continued…!
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Industry Development:
November 2018: CP Kelco, a subsidiary of J.M. Huber Corporation, announced the expansion of its pectin production capacity in Denmark by about 15%. The company aims to cater to the increasing demand for clean-label ingredients across functional foods and further strengthen its position in the global marketplace.
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