Dubai, UAE, March 24, 2020 (GLOBE NEWSWIRE) -- Remarkable expansion of the processed food sector has propelled the utilization of ingredients such as food thickening agents. Projecting the market growth at a steady CAGR of 4% during 2019 – 2028, a new market study by Fact.MR provides an inclusive analysis of the food thickening agents market. Unavailability of alternate food components and growing consumer inclination towards clean labeled products augur well for the market growth, says the report.
Food Thickening Agents Market - Key Takeaways
- Plant and seaweed-based thickening agents remain sought-after, with a collective share of 50% in market value.
- Applications in bakery & confectionery are projected to grow 1.6X over the forecast period.
- Leading manufacturers are investing heavily on increasing production capacities.
- North America and Europe to remain regional leaders in the food thickening agents market with a collective share of 60% in the global market.
- Asia Pacific region to exhibit tremendous growth and is projected to double its market share during the forecast period.
- Significant investments in the production of thickening agents such as guar complex in India is expected to further boost the market.
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Food Thickening Agents Market - Key Driving Factors
- The surge in production of bakery & confectionery items, sausages, dressings, and soups, coupled with lack of substitutes is escalating the demand for food thickening agents to cater to the growing urban consumption.
- Attributed by their trait to lower swallowing difficulties (dysphagia), food thickening agents have gained traction from processed food manufacturers, thereby boosting demand.
- Manufacturers - in the path of exploring new herbs to extract agents from - are introducing vegan and gluten-free products, further bolstering the market.
Explore the complete food thickening agents market report with detailed market segmentation, 78 illustrative figures, and 96 data tables at -
https://www.factmr.com/report/4562/food-thickening-agents-market
Food Thickening Agents Market - Key Restraint
- Fluctuations in prices of food thickening agents and high cost associated with research and development activities to produce new variants continue to challenge rapid market growth.
Competition Landscape
Some of the key players in the food thickening agents market are CARGILL, Ingredion Inc., CP Kelco, Darling Ingredients, and Archer Daniels Midland Company (ADM), among others. These pleading players are predominantly present in North America, Europe, and Australia. In addition to research and development activities, the manufacturers are focusing on mergers, acquisitions, and joint ventures by top-tier players to increase their market share and global footprint in the food thickening agents market.
About the Report
This 170-page study offers readers a comprehensive market forecast of the global food thickening agents, with historical data on demand (2013-2018) and expected projections for the period (2019-2028). The food thickening agents report discloses compelling insights into the demand for food thickening agents based on by source (plant {guar gum, gum arabic, locust bean gum, pectin, starches, and others}, seaweed {carrageenan, agar, and alginate}, microbial {gellan gum, curdlan, and xanthum gum}, animal, synthetic {carboxy methyl cellulose, and methyl cellulose}) and by application (bakery and confectionery, meat & poultry, sauces & dressings, beverages, dairy products, others), across 7 key regions and 22 + countries.
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About Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the veteran research team at Fact.MR helps clients from across the globe with their unique business intelligence requirements. With a repository of over a thousand reports and 1 million+ data points, the team has scrutinized the Food & Beverages sector across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Fact.MR's latest food industry market reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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