Newark, May 11, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 15.6 billion in 2022 food thickening agents market will reach USD 28.9 billion by 2032. Food thickening agents are substances that are added to a food mixture to increase its viscosity without significantly affecting its other characteristics. It increases the stability of the product and the suspension of other components. In the food industry, thickeners are used to enhance a number of fundamental aspects of food products, including density, texture, volume, stability, and flavour.
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Key Insight of the Food Thickening Agent Market
Asia Pacific is anticipated to expand at the fastest CAGR of 9.1% over the projection period.
North America is expected to grow at the fastest CAGR of 9.1% over the forecast period. The Indian food thickening agent industry is an important global market. Food-thickening agents are in high demand in the Indian dairy sector due to the increasing scope of food innovation. Growing demand for dairy products as people adopt healthier lives is expected to enhance food-thickening agent sales. India, a large wheat-consuming country, also has a high number of celiac disease sufferers globally. This has steadily increased health consciousness among the general public. It is increasing demand for gluten-free processed goods such as crackers, bread, biscuits, and cookies. This is increasing the need for food thickeners in the United States.
In the food thickening agent market, hydrocolloid segment is expected to dominate the market with the CAGR of 8.2% over the projected period.
With a CAGR of 8.2% during the projected period, the hydrocolloid category is expected to dominate the global market Among the hydrocolloids used as food thickeners are beta-glucan, guar gum, locust bean gum, xanthan gum, and alginate. Hydrocolloids' tendency to be fiber-rich at low pH increases their suitability for use in the food and beverage sectors. The use of hydrocolloids as food additives and thickeners is very common. Examples include the use of hydrocolloids as a wheat flour substitute in cookies, a sugar substitute in whipped creams and steamed bread, a coating material in nuts and dried fish, a food stabilizer in ice cream, a bulking agent in yogurt, and a starch dispersion agent in rice.
In the food-thickening agents market, the plant-based segment is expected to register a CAGR of 7.6% over the projected period.
The plant-based category is estimated to increase at a CAGR of 7.6% over the forecast period. Plant-based products are the most often used components in the majority of applications, including bakery, confectionery, and ready-to-eat meals, among others, due to their high efficacy and low cost. Some of the most well-known plant-based food thickeners include cornstarch, tapioca, agar, xanthan gum, rice flour, and pectin. Food thickeners created from plants are sustainable and in high demand from consumers, especially in food products like bakery, confectionery, and processed food. This is due to the rising trend of veganism and vegetarian diets.
In the food thickening agents market, the bakery segment held the largest market share of 41% in 2022.
In 2022, bakery segment continued to have a largest market share of 41%. Throughout the projection period, rising demand for natural and organic baked goods as well as the trend toward healthy eating are projected to drive demand for food thickeners. The market for food thickeners is anticipated to be driven by rising demand for convenience meals as a consequence of rising consumer awareness of products with both novel and familiar flavors. A shift in food consumption patterns has been brought on by growing disposable incomes and altered lifestyles as a result of greater urbanization, which should result in rising demand throughout the course of the projection period.
Market Dynamics
Driver
Convenience foods are more in demand as people are busier and have less time to make meals from scratch. To enhance texture and consistency, thickening agents are frequently employed in processed meals including soups, sauces, and gravies. Additionally, customers are increasingly looking for food thickeners manufactured from natural sources as they become more conscious of the health advantages of natural and organic products. As a result, natural and organic thickening agents such as proteins, starches, and gums are in higher demand.
Opportunity
There is a possibility to develop innovative food-thickening agents derived from plant sources, such as seaweed or legumes, since consumers demand more natural and plant-based ingredients. Furthermore, the demand for processed foods and convenience foods is rising in developing nations like Asia-Pacific and Latin America. This creates the opportunity to increase the use of food-thickening chemicals in these regions.
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Some of the major players operating in the food thickening agents market are:
• TIC Gums, Inc.
• FDL Limited
• Naturex S.A.
• Medline Industries, Inc.
• Darling Ingredients Inc.
• Cargill, Inc.
• Archer Daniels Midland Company
• DuPont De Nemours, Inc.
• Tate & Lyle PLC
• CP Kelco
• Kerry Inc.
• Ingredion Incorporated
• Ashland
Key Segments cover in the market:
By Type
• Protein
• Starch
• Hydrocolloids
By Source
• Plant
• Animal
• Microbial
By Application
• Bakery,
• Confectionery
• Dairy
• Sauces
• Convenience food
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