NEWARK, Del, April 18, 2023 (GLOBE NEWSWIRE) -- By 2033, the food thickening agents market could be worth more than US$ 3.93 billion, compared to US$ 2.70 billion in 2023, according to FMI's estimations. The market is probably going to show a moderate CAGR of 4% over this evaluation period.
The food and beverage industry has been going through an innovation period due to the client demand for nutritious and delectable ingredients. Companies have been driven by the convergence of technology and the food and beverage sector to improve the appeal of their goods. They also intend to offer high-quality solutions that are reasonably priced.
Food thickening agents market is primarily driven by increased consumer awareness of contemporary culinary products, easy accessibility, and quickly changing lifestyles. Increased consumption of processed foods, growing consumer awareness of a healthy diet, and stricter governmental food regulations are projected to emerge as significant factors driving consumption throughout the projection period.
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The food and beverage sectors have been quite supportive of the clean-labeling movement. Businesses are focusing on creating clean-label products for the market as a consequence. Therefore, the demand for food thickening agents derived from organic resources, such as plants and seaweeds, has increased.
The rising demand for food thickening agents from the obese and diabetic populations is another key reason for their rising popularity. Since people now consider their health to be a primary concern, there has been a discernible movement in consumer preference away from items that include fat.
Given their ability to substitute calories with fat, thickening agents like starches and gums are becoming extremely prevalent as fat alternatives. This has increased consumer appetite for these products and has had an impact on this market in particular.
Food thickening agents were initially used as a crucial component in the bakery sector. There is a strong demand for bread and other bakery items worldwide that mandates the application of thickeners during manufacturing. The market is moving forward as a result of these key aspects.
Key Takeaways
- The market in the United Kingdom is anticipated to exhibit a CAGR of 6.3% through 2033.
- The United States dominated the market in 2022 holding a 14.2% share of the global market.
- Registering a CAGR of 31.4% over the forecast period, the market in India is predicted to develop rapidly.
- The market in China is expected to proliferate significantly, registering a CAGR of 5.5% over the forecast period.
- Germany accounted for 5.8% of the global market in 2022.
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Competitive Landscape
Manufacturers in the food thickening agents market are putting great emphasis on research and development activities to provide novel and sustainable solutions. In order to meet customer expectations for clean label, natural, and plant-based solutions, they are also investing in innovative technologies and formulations. They aim to enhance the functionality and performance of food thickening agents. Manufacturers are also concentrating on delivering personalized solutions for wide-ranging food applications. Additionally, to increase their market presence and adapt to changing customer tastes, they are constantly investigating strategic alliances and collaborations.
According to the market research Cargill Inc., Ingredion Incorporated., Archer Daniels Midland Company, Kerry Group plc, DuPont de Nemours Inc., Tate & Lyle PLC, TIC Gums, Inc., CP Kelco, Medline Industries Inc., Fuerst Day Lawson Limited, are among the key players in the food thickening agents market.
Recent Developments
- In January 2021, Tate & Lyle added more tapioca-based starches to their lineup. The extension includes the recent thickening starches REZISTA MAX and gelling starches BRIOGEL. This has helped the business grow its line of products.
In November 2020, Ingredion Incorporated obtained Verdient Foods Inc. With the support of this takeover, the business turns more capable of improving its overall sales, expanding its manufacturing capacity, and collaborating with other companies to fulfill the growing demand for plant-based food thickeners.
Key Segments Covered in Food thickening agents market
By Source:
- Plant
- Guar Gum
- Gum Arabic
- Locust Bean Gum
- Pectin
- Starches
- Other Plant Sources
- Seaweed
- Carrageenan
- Agar
- Alginate
- Microbial
- Gellan Gum
- Curdlan
- Xanthan Gum
- Animal (Gelatine)
- Synthetic
- Carboxy Methyl Cellulose
- Methyl Cellulose
By Application:
- Bakery & Confectionery
- Meat & Poultry
- Sauces & Dressings
- Beverages
- Dairy Products
- Other Applications
By Region:
- North America
- Western Europe
- Eastern Europe
- Latin America
- Asia Pacific excluding Japan
- Japan
- Middle East & Africa
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Table of Content
1. Executive Summary | Food Thickening Agents Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends (TOC Continue...)
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Explore FMI’s Extensive Coverage on Food & Beverage Domain:
Food Texturing Agents Market Demand: The Food Texturing Agents market is valued at USD 11.9 Billion in 2022 and is projected to grow at a CAGR of 4% during the forecast period, to reach a value of USD 19.1 Billion by 2032.
Agar Market Value: The agar market is predicted to grow at 5.2% CAGR during the forecast period of 2032.
Food Enzymes Market Size: The food enzymes market is projected to register an average CAGR of 6.5% during the forecast period.
Gelling Agent Market Growth: The global gelling agent market is expected to reach a valuation of US$ 4.9 Billion by the end of 2022, accelerating at a CAGR of 4.9% from 2022 to 2032.
Guar Gum Market Share: The guar gum market is valued at US$ 1.13 Billion in 2021. The market is projected to grow at a CAGR of 2.8% through 2026, reaching US$ 1.3 Billion by 2026.
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