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The global food texturizing agents market is expected to grow at a significant pace during the forecast years, due to advancement in the food processing industry and rising demand for ingredients that can improve the overall characteristics of food products. Rising adoption of food texturizing agents by food manufacturers in order to enhance shelf-life of food products and restrict microbial growth within them, along with improving the taste of the product is expected to contribute significantly in the growth of global food texturizing agents market.
Key companies operating in the global food texturizing agents market are focusing on the launch of novel and modified food texturizing products, coupled with increasing their involvement in merger & acquisition activities to remain prominent in the market. Cargill Incorporated (U.S.), Archer Daniels Midland Company (U.S.), CP Kelco (U.S), and Ajinomoto Co. Inc. (Japan) are some of the key companies performing in the global food texturizing agents market.
Key Market Driver -
Growing food & beverage industry is expected to drive the market growth.
Key Market Restraint -
Health issues associated with food products composed by using synthetic food ingredients is expected restrain the market growth.
Food texturizing agents are food additives that are added to food products to increase the stability of the product, along with improving its texture. Food texturizing agents can be derived from numerous sources, some of the common sources are plants, animals, and seaweeds. Synthetic texturizers are also used for various applications including food & beverage, however, with growing health consciousness consumers are more inclined towards food products made by using natural ingredients.
The food texturizing agents market is anticipated to grow during the forecast years owing to considerable growth in the global food & beverage industry, especially across emerging economies. An escalation in the consumption of convenience foods, coupled with growth in demand for high-quality food products is projected to contribute to augment the growth of global food texturizing agents market during the forecast years. Adoption of advanced food extraction and processing techniques by food ingredient manufacturers is further expected to aid the market growth of food texturizing agents in the forthcoming years.
Increasing consumer inclination towards organic food products, coupled with an increase in resistance towards excessive consumption of processed food due to their negative health impacts is anticipated to hinder the global food texturizing agents market. The presence of high-calorie content in some texturizing agents is further projected to restrain the market growth during the forecast years.
Some of the major companies that are present in the global food texturizing agents market are Cargill Incorporated (U.S.), CP Kelco (U.S.), Archer Daniels Midland Company (U.S.), Ingredion Inc (U.S.), Ajinomoto Co. Inc. (Japan), FMC Corporation (U.S.), Tate and Lyle PLC (U.K.), DowDuPont Inc. (U.S.), Estelle Chemicals (India), and Kerry Group (Ireland) among the other players operating in the global food texturizing agents market.
On the basis of product type, the global food texturizing agents market has been segmented into thickening agent, emulsifying agent, binding agent, stabilizing agent, and others. Among these, the thickening agent, along with emulsifying agent segments are anticipated to hold significant market shares during the forecast years, owing to growing consumption of jellies, candies, and jam where thickening agents are widely used. Increase in demand for food emulsifiers in production of various types of processed food products, and across bakery industry due to their ability to improve the texture, shelf-life, and consistency of the product is anticipated to contribute to its growth during the forthcoming years.
On the basis of application, the global food texturizing agents market has been segmented into bakery, confectionery, meat & poultry, dairy products, beverages, and others. The application of food texturizing agents in bakery industry, followed by the confectionery industry is projected to be dominant during the forecast years, due to rapidly growing bakery and confectionery industry across prominent developed and developing economies. Increased focus of manufacturers on the utilization of specialty and natural ingredients in baked goods to improve their market value is further projected to aid the growth of the segment during the forecast period.
North America currently holds the major market share in the global food texturizing agents market and is projected to hold the major market share throughout the forecast years, owing to rising innovation in food ingredients and solutions across the region. Rising processed food market of North America, coupled with the presence of key ingredient market players such as Ingredion Inc. (U.S.) and Cargill Incorporated (U.S.) is expected to propel the market growth of the region during the upcoming years.
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The food texturizing agents market in Asia Pacific is projected to grow at a rapid pace during the foreseeable years due to rapidly growing food processing industry in emerging economies, such as China, Japan, and India. The food texturizing agents market in Europe is expected to perform decently during the forecast period due to the organized food & beverage industry in prominent countries of the region along with continuous improvement in food technology.
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