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. Fortune Business Insights in its latest report, titled, “Hydrocolloids Market Size, Share & Industry Analysis, By Type (Xanthan Gum, Carrageenan, Guar Gum, Gelatin, and Others), Source (Microbial, Animal, Seaweed, and Others), Application (Food & Beverages, Pharmaceuticals, and Cosmetics & Personal Care), and Regional Forecast, 2020 – 2027.”, observes that the market stood at USD 9.07 billion in 2019.
List of Top Companies Profiled in the Global Hydrocolloids Market:
- 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)
- Tate & Lyle plc (London, United Kingdom)
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.
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 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.
Key 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.
Browse Detailed Summary of Research Report:
https://www.fortunebusinessinsights.com/industry-reports/hydrocolloids-market-100552
