The demand for hydrocolloids is driven by the rise in demand for convenience food from the food industry.
The hydrocolloids market is projected to grow at a CAGR of 5.3%
The hydrocolloids market is estimated to be valued at USD 9.7 billion in 2020 and is projected to reach USD 12.6 billion by 2025, at a CAGR of 5.3% from 2020 to 2025. The growth of the hydrocolloids market is driven by factors such as the expansion of the processed food industry due to the increase in demand for convenience foods in the emerging countries of the Asia Pacific, South America, and the Middle East & African regions. Key drivers for the market’s growth include a robust R&D base, as manufacturers are focusing on with product innovations to offer high-quality hydrocolloids for the end-user industries and the multifunctionality of hydrocolloids.
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The key hydrocolloids manufacturing players include the following:
The gelatin segment for hydrocolloids is estimated to account for the largest share
The hydrocolloids market, by type, is estimated to be dominated by the gelatin segment in 2020. Gelatin is derived from animal sources and has applications in food products such as candies, desserts, marshmallows, and ice creams. In Europe, gelatin is classified as food and is not subjected to food additive legislation. This is projected to create a lucrative opportunity for hydrocolloids manufacturers in the coming years.
The food & beverages segment for hydrocolloids is estimated to account for the largest share
The hydrocolloids market, by application, is estimated to be dominated by the food & beverage segment in 2020.The demand for hydrocolloids is projected to increase in the coming years due to its multifunctionality in the food industry and the rise in demand for convenience foods in emerging countries.
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North America is projected to witness significant growth in the hydrocolloids market
The North American hydrocolloids market is projected to witness significant growth with higher CAGR during the forecast period. due to the presence of major players such as Ashland (US), TIC Gums (US), CP Kelco (US), Cargill (US), Ingredion (US), and Darling Ingredients (US) operating in the region. The region is backed by the US, a major revenue pocket market for bakery, confectionery, convenience food, and packaged food products.
Collagen Peptides Market worth $795 million by 2025
Food & beverage manufacturers have started using collagen peptides increasingly as an ingredient in a wide range of products. Also, with biotechnological advancement, collagen peptides have found its use in various biomedical applications. The versatile nature of collagen peptides makes it useful in the pharmaceutical industry for the production of orally administrative medicines.
Pea Starch Market is Expected to Reach $203 Million by 2026
Growth in the demand for pea starch in the end-user application industries is driving the market growth of pea starch. Further, increase in the demand for gluten-free products is also a major factor resulting to the rise in the demand for pea starch.
Shrink Plastic Film Market is Estimated to Grow $3.0 billion by 2025
Based on type, the shrink plastic film market for beverage multipacks is dominated by the unprinted shrink plastic film segment.
