Market Highlights
The GlobalHydrocolloids Market has witnessed continued growth over the last fewyears and is projected to reach USD 26,937.1 Million by 2027 at a CAGRof 5.50%. Hydrocolloids are used in various applications in the food& beverage, pharmaceuticals, and oil & gas industries, among others.
The nutritional and health-promoting properties of hydrocolloids have led to
their adoption as functional ingredients by several food & beverage
manufacturers. The use of hydrocolloids in functional food improves health,
lowers cholesterol, and helps in combating diseases, especially diabetes.
Hydrocolloids help in improving gut health, owing to which small- and
medium-sized manufacturers have begun offering their products to functional
food processors. Thus, the rising adoption of hydrocolloids as functional food
ingredients is opening up new markets for hydrocolloid suppliers, thereby,
offering lucrative opportunities to market players.
Asia-Pacific was the largestmarket for hydrocolloids and the regional market is expected to maintain its
dominance during the forecast period with the highest CAGR of 5.84%. Thegrowing demand for bakery and confectionery products in Asia-Pacific is
influencing the demand for hydrocolloids in the food & beverage industry of
the region. North America held a notable market share in 2018 and the regional
market is expected to register a growth rate of 5.07% during the forecast
period.
The globalhydrocolloids market is highly competitive with key industry players adopting
various strategies such as expansions, acquisitions, product launches, joint
ventures, and agreements to strengthen their market positions. Most companies
in the market are focused on expanding operations across regions, augmenting
their capabilities, and building strong partner relations.
Market Players
Market Research Future recognizes Kerry Group PLC (Ireland),Cargill, Incorporated (US), DowDuPont (US), Ingredion Incorporated (US), Archer
Daniels Midland Company (US), DSM NV (Netherlands), Brenntag AG (Germany), Tate
& Lyle PLC (UK), Ashland Global Holdings, Inc. (US), and Darling
Ingredients, Inc. (US) as the key players active in the global hydrocolloids
market.
Segmental Analysis
The global hydrocolloidsmarket has been segmented on the basis of type, source, application, and
region.
Based on type, theglobal hydrocolloids industry has been segmented into gelatin, carrageenan,
guar gum, pectin, xanthan gum, gum arabic/acacia gum, alginates, agar, and
others. The agar segment is projected to register the highest CAGRof 5.7% during the forecast period. The major application industriesfor agar are pharmaceuticals, food, and cosmetics. Agar offers several
advantages over gelatin; it stays solid at warm temperatures, is a powerful
gelling agent, and does not impart color, odor, or flavor to the food product.
Additionally, agar contains 80% fiber, small amounts of carbohydrates, and zero
protein and fats. Owing to these nutritional and functional benefits, the
demand for agar as a natural hydrocolloid is increasing in the food &
beverage industry.
By source, the markethas been divided into natural and synthetic. The natural segment garnered the
larger the global hydrocolloids market share in 2022 and is expected to
register the higher growth rate during the upcoming years. Agar, carrageenan,
gelatin, alginates, konjac gum, guar gum, xanthan gum, pectin, and locust bean
gum are some of the commonly used natural hydrocolloids. The major determinants
propelling the growth of the segment are the low cost of natural hydrocolloids,
easy availability of natural raw materials, biodegradability,
bio-compatibility, limited side effects, and high acceptance among consumers.
Based on application,the global define hydrocolloids market has been classified as food & beveragesand others. The food & beverages segment has been further divided into
dairy & frozen desserts, bakery & confectionery, beverages, creams,
dressings & spreads, meat, poultry & seafood products, and others. In
2018, the food & beverages segment garnered a lower revenue share; however,
it is expected to exhibit higher CAGR of 5.55% during the forecast period. In
the food & beverages segment, the dairy & frozen desserts sub-segment
accounted for the largest market share in 2018, where hydrocolloids are used
mainly as stabilizers, thickeners, and gelling agents. However, the meat,
poultry & seafood products sub-segment is expected to register the highest
growth rate during the forecast period.
Regional Analysis
Geographically,the global hydrocolloids typemarket has been segmented into North America, Europe, Asia-Pacific, and therest of the world. As per MRFR analysis, Asia-Pacific dominated the market,
accounting for the largest share of more than 30.00% in 2018 and the regional
market is projected to register the highest CAGR of 5.84% duringthe forecast period.
Key Findings of theStudy:
The global hydrocolloidsmarket value is expected to register a growth rate of 5.50% during the period
of 2019 to 2024. The growth of application industries of hydrocolloids is
projected to propel the growth of the global hydrocolloids market.
By type, the gelatinsegment is projected to maintain its dominance during the forecast period of
2019 to 2024. The segment is expected to register a substantial growth rate of
5.43% during the review period.
On the basis ofsource, the natural segment is estimated to hold the larger market share during
the forecast period and is projected to register a growth rate of 5.53%.
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