Global food hydrocolloids market expected to reach USD 9.12 billion by 2024, growing at a CAGR of around 4.8% between 2017 and 2024. Colloidal structure or colloids is defined as a chemical structure made up of finely separated particles dispersed in a constant medium
Sarasota, FL -- (SBWIRE) -- 07/13/2018 -- Zion Market Research has published a new report titled "Food Hydrocolloids Market - By Type (Gelatin, Xanthan, Carrageenan, Alginate, Agar, Pectin, Guar, Locust Bean, Gum Arabic, and Carboxymethyl Cellulose), By Application (Bakery & Confectionery, Meat & Poultry, Sauces & Dressings, Beverages, and Dairy Products) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024". According to the report, the global food hydrocolloids market was valued at around USD 6.57 billion in 2017 and is expected to reach approximately USD 9.12 billion by 2024, growing at a CAGR of around 4.8% between 2017 and 2024.
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Colloidal structure or colloids is defined as a chemical structure made up of finely separated particles dispersed in a constant medium. Hydrocolloids are the colloidal long chained polymeric structures which are made up of fine particles disseminated in water. Depending on the amount of the medium, i.e., water; these hydrocolloids are available in gels or as sols form. These hydrocolloids find a range of applications particularly in food sector due to their special ability to transform the rheology of the structure to which it is added. In addition to this, they also find application in cosmetics and pharmaceutical sector. As an element in food and beverages, they are utilized as gelling agents, thickening agents, stabilizing agents, and emulsifying agents, among other applications.
The food industry has an enormous demand for food hydrocolloids primarily due to its functional properties. The increasing consumption of processed food is the major key factor driving the market growth. At present, the rising complexity of consumer dynamics due to personal and professional commitments does not leave sufficient time for fresh cooking on a habitual basis. This, in turn, is representing a growing demand for food hydrocolloids in the market.
Based on the type, gelatin and carrageenan segment is expected to hold dominant position throughout the forecast period. Gelatin powder, sugar, and other constituents are used in the preparation of pastry, desserts, and various other specialty food products. Thus, the demand of this ingredient will help to support the food hydrocolloids market growth in the near future.
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By application, bakery and confectionery segment is expected to attain the major market share of the global food hydrocolloids market during the forecast period. The increasing interest by the consumers for processed food has been a key aspect for the upsurge in the interest of hydrocolloids. In turn, food hydrocolloids market will gain more share value over the forecast period.
The market for food hydrocolloids is directly inclined by the continuous new products launched and research & developmental activities. For instance, Alland & Robert Company launched Syndeo, a hydrocolloid solution. It is derived from natural and vegetal sources and mostly used in the dairy-free beverage. Emerging economies are seeking to attain food hydrocolloids from natural sources. For instance, Indian Farmers' Fertiliser Cooperative (IFFCO) has signed an agreement with the state of Sikkim (first organic state of India) to manufacture hydrocolloids from seaweed biomass.
By geography, the food hydrocolloids market is segmented into North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. Among all, North America is expected to be the fastest-growing region. The rising economies of the Asia Pacific region followed by Europe region are a major market for food hydrocolloids and are increasingly contributing to their demand, due to increase in disposable income, population, and growth in the demand for processed food; in turn, the food hydrocolloids market is anticipated to grow in coming years. In addition, the Middle East and Africa's food hydrocolloids market are expected to grow at a slow pace in the future.
The report also includes detailed profiles of key players such as E. I. du Pont de Nemours and Company, Cargill, Inc., Lubrizol Corporation, CP Kelco, Rousselot S.A.S., Ashland Inc. and others.
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This report segments the global food hydrocolloids market as follows:
Global Food Hydrocolloids Market: Type Segment Analysis