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The global hydrocolloids market is projected to witness rapid growth in the forthcoming years, owing to presence of crucial functional properties in it. Rapid change in the lifestyle of global population and changing eating habits has escalated the demand for convenience food, which is expected to contribute to the growth of global hydrocolloids market.
Key market players operating in the global hydrocolloids market are adopting product launch strategies along with getting involved in merger & acquisition activities to increase their market prominence. Cargill Incorporated, Kerry Group Plc., E.I. du Pont de Nemours and Company, and Ingredion Incorporated are some of the key vendors operating in the global hydrocolloids market.
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Hydrocolloids are substances that are able to form viscous gels when dispersed in water. Hydrocolloids are known for their wide range of functional characteristics, such as gelling, thickening, coating, emulsifying, etc. The capability of hydrocolloids in rheology modification of food systems is a major reason for the wide adoption of hydrocolloids as a crucial food ingredient in the production of food products and beverages.
Growing demand for convenience and functional food due to hectic schedules of people, which prevents them from cooking fresh, is projected to fuel the demand for hydrocolloids market. Strengthening number of diet-conscious population across the globe, which is boosting the demand for food manufactured by using natural ingredients is further projected to aid the growth of hydrocolloids market. Furthermore, increased hydrocolloids product launches by prominent manufacturers for numerous applications is anticipated to benefit market growth.
Fluctuations in prices of raw materials, such as seaweeds, animal tissues, and others that are required for the production of hydrocolloids is anticipated to restrict the market growth during the forecast period.
Some of the key companies that are present in the global hydrocolloids market are Kerry Group Plc., Koninklijke DSM N.V., Cargill Incorporated, Archer-Daniels-Midland Company, E.I. du Pont de Nemours and Company, Ashland Global Holdings Inc., CP Kelco, W Hydrocolloids, Inc., Ingredion Incorporated, Fuerst Day Lawson Limited, FMC Corporation, and Tata & Lyle Plc. among the other players operating in hydrocolloids market.
· Plant Hydrocolloid
Ø Gum Arabic
Ø Guar Gum
· Microbial Hydrocolloid
Ø Xanthan Gum
Ø Gellan Gum
· Animal Hydrocolloid
· Seaweed Hydrocolloid
· Synthetic Hydrocolloid
Ø Methyl Cellulose (MC)
Ø Hydroxy Ethyl Methyl Cellulose (HMC)
Ø Hydroxy Propyl Methyl Cellulose (HPMC)
· Food & Beverage
Ø Confectionery & Bakery
Ø Meat and Poultry
Ø Dairy Products
Ø Frozen Products
Ø Sauces & Dressings
· North America (USA, Canada, and Mexico)
· Europe (France, Germany, Italy, Spain, U.K., Russia, and Rest of Europe)
· Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)
· South America (Brazil, Argentina, and Rest of South America)
· Middle East & Africa (South Africa and Rest of ME&A)
By source, the global hydrocolloids market has been segmented into plant hydrocolloid, microbial hydrocolloid, animal hydrocolloid, seaweed hydrocolloid, and synthetic hydrocolloid. Animal hydrocolloid segment is projected to hold the major market share, owing to higher consumption of gelatin, which is derived from animal tissues. Higher applications of hydrocolloids derived from animal sources in the production of confectionery products is further projected to aid the growth of the segment.
By application, the global hydrocolloids market has been segmented into food & beverage, pharmaceuticals, cosmetics, and others. The application of hydrocolloids in food & beverage segment is projected to be the highest during the forecast period owing to the rising demand for functional and natural ingredients in food and beverage products. Growing bakery, dairy, and confectionery industry across developed as well as developing economies is projected to influence the segment’s growth positively.
North America is projected to hold the major market share in the global hydrocolloids market during the forecast period, owing to increasing usage of hydrocolloids in the production of premium food products and clean-labeled products. Growing confectionery industry in US, coupled with rising demand for low-fat and low-calorie food is projected to aid the hydrocolloids market growth of the region. The hydrocolloids market in Asia Pacific is anticipated to exhibit crucial growth during the forecast years, due to growing food & beverage industry of the region, attributed by the rapidly growing population. Increased demand for convenience and functional food (hydrocolloid is a common functional ingredient) in Asia Pacific due to rising per capita income of consumers is further projected to support the hydrocolloid market growth.