According to Stratistics MRC, the Global Hydrocolloids Market is accounted for $11.18 billion in 2022 and is expected to reach $17.17 billion by 2028 growing at a CAGR of 7.4% during the forecast period.
A heterogeneous group of polysaccharides that when dispersed in water, create a gel-like substance is mentioned to as a hydrocolloid. They are extracted from a variety of sources, including plants, microbes, animals, seaweed, and others, and have become extremely popular among many manufacturers around the world. Hydrocolloids that are generally used as thickening are starch, xanthan, guar gum, locust bean gum, gum karaya, gum tragacanth, gum Arabic and cellulose derivatives. The gelling type hydrocolloids are alginate, pectin, carrageenan, gelatin, gellan and agar.
The increasing intake and demand for ease foods in a straight line impact the increased utilization of it in these products to improve shelf-life, quality, and other factors. It improves the thickness and develops the textural properties of numerous food products such as processed meat, gravies, and sauces. The processed food industry is influenced by the demand for ready-to-eat products, owing to the proactive lifestyles of the consumers. Consumers are willingly spending on such products as they are easily available and less time-consuming. Such factors have led to the increased incorporation of the product in processed foods by the manufacturers to suffice the growing demands.
By geography, North America is projected to hold the largest market share during the forecast period. The growth attributed to the growing processed food consumption owing to changing lifestyles and dietary routine may drive regional industry growth. Moreover, growing consumer preference toward natural food products along with increasing demand from personal care & cosmetics sector is another factor driving the market growth. The U.S., followed by Canada, emerged as the leading regional market. Additionally, the market growth in these countries can be attributed to the existence of a well-developed agricultural sector owing to the abundant availability of natural resources including diverse plants, freshwater, and marine & animal life.
Some of the key players profiled in the Hydrocolloids Market include Archer Daniels Midland Company, Ashland, Cargill, Incorporated, DSM, Brenntag AG, Glanbia plc, Ingredion Incorporated, Tate and Lyle PLC, Nexira, TIC Gums, Inc.
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- Xanthan gum
- Microcrystalline cellulose (MCC)
- Locust bean gum (LBG)
- Gum Arabic
- Guar gum
- Carboxymethyl cellulose (CMC)
- Fat replacers
- Coating materials
- Others functions
- Food & Beverage
- Personal Care Products
- Meat & Poultry
- Dairy and Frozen Products
- Sauces and Dressings
- Other Applications
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