Global
Food Hydrocolloids Market: Snapshot
Stiff
competition and fragmentation prevail in the global food
hydrocolloids market. In this market with a large number of local and
regional players, key players have resorted to product innovation,
investments, and acquisitions to gain competitive advantage.
The
food industry has been displaying a surging demand for food
hydrocolloids predominantly on account of its functional properties.
The increasing uptake of ready-to-eat meals is the key factor having
a positive impact on the food hydrocolloids market. In present times,
the increasing complexity in consumer dynamics due to professional
and personal commitments does not leave adequate time for fresh
cooking on a regular basis. This, in turn, is displaying an increased
demand for ingredients used in food products such as hydrocolloids.
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Proving
a roadblock to the growth of the food hydrocolloids market is the use
of conventional ingredients from the regional food industry.
As
per a report by Transparency Market Research, the global food
hydrocolloids market is likely to expand at a CAGR of 3.6% between
2017 and 2025, for the market to be valued at US$7,634.0 mn by the
end of 2025.
Bakery
and Confectionery Application Segment to Display Leading Growth Rate
The
segments into which the global food hydrocolloids market is
classified based on source type are plant source, microbial source,
seaweed source, animal, and synthetic. Amongst all, the segment of
plant source is expected to hold 37.4% of the overall market by the
end of 2017.
In
terms of function, the segments of the global food hydrocolloids
market include thickener, stabilizer, emulsifier, gelling, coating,
and others. Thickener, amongst all, is expected to lead the market
over the forecast period.
The
segments of the global
food hydrocolloids market based
on application that are covered in this report are bakery and
confectionery, meat & poultry, sauces & dressings, beverages,
dairy products, and others. Amongst all, bakery and confectionery is
anticipated to display the leading CAGR of 4.8% between 2017 and
2025. This will be followed by meat and poultry at a CAGR of 3.6%
over the forecast period.
Increasing
Uptake of Ready-to-eat Meals Makes Asia Pacific Significant Market
The
key segments into which the global food hydrocolloids market is
divided based upon geography are North America, Europe, Latin
America, Asia Pacific, and the Middle East and Africa.
North
America presently holds supremacy in the global food hydrocolloids
market. The regional market of North America is expected to expand at
a CAGR of 4.0% between 2017 and 2025. Progressing at this pace, the
region is expected to gain significantly vis-à-vis revenue by the
end of 2025.
Asia
Pacific is expected to display 3.6% CAGR between 2017 and 2025. The
increased concentration of product manufacturers in the developing
countries of Asia Pacific accounts as one of the key factors for the
growth of this region. The rising working class population in the
region that is increasingly adopting convenience foods to match their
busy lifestyle is displaying demand for functional ingredients that
are used in these foods. Thus, the market for food hydrocolloids is
benefitted.
Latin
America and the Middle East and Africa are expected to trail Europe
with respect to growth rate over the forecast period.
Some
of the prominent participants in the global food hydrocolloids market
include De Pont De Nemours & Company, Cargill Incorporated,
Darling Ingredients, Kerry Group plc, CP Kelco, Fuerst Day Lawson,
Ingredion Incorporated, Ashland Inc., Koninklijke DSM N.V., and Rico
Carrageenan.
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