New York, NY -- (SBWIRE) -- 03/12/2019 -- A recent report published by Persistence Market Research, titled 'Microbial Source Hydrocolloids Market: Global Industry Analysis 2013–2017 and Forecast 2018–2026', reports that, the microbial source hydrocolloids market is expected to be valued as US$ 357.6 Mn by the end of 2018 in terms of revenue, and is forecasted to reach US$ 509.1 Mn by the end of 2026 in terms of sales revenue. The overall global microbial source hydrocolloids market is expected to grow at a CAGR of 4.4% in terms of sales revenue from 2018 (estimated year) to 2026 (forecasted year).
Increasing Demand for Thickening Agents from Bakery and Confectionery Manufacturers to Drive Growth of the Global Microbial Source Hydrocolloids Market
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There is a tough competition and fragmentation in the global microbial source hydrocolloids market. The bakery and confectionery segment is expected to consume a large share of microbial source hydrocolloids when compared to other end users such as beverages, meat & poultry, sauces & dressings, and dairy. The demand for microbial source hydrocolloids is expected to witness significant growth in terms of both, volume and value throughout the forecast period (2018–2026), owing to the increasing demand for thickening agents from the bakery and confectionery segment.
There are various organized players present in the microbial source hydrocolloids market, owing to the increased competition. This factor is expected to accelerate the development of various novel and innovative products, which is one of the major factors pushing the growth of the microbial source hydrocolloids market in terms of both, volume and value, throughout the forecast period (2018 -2026).
Xanthan Gum Segment to Hold 57.7% Value Share by the End of 2026 in the Global Microbial Source Hydrocolloids Market
By product type, the xanthan gum segment is expected be a prominent segment in the microbial source hydrocolloids market, with a relatively high market share of 55.5% in terms of sales revenue by the end of 2018 in the global microbial source hydrocolloids market. This segment's share is expected to rise to 57.7% by the end of 2026, and exhibit slow growth in the overall global microbial source hydrocolloids market. The gellan gum segment holds the second-largest market share in the overall microbial source hydrocolloids market, expected to account for a market share of 38.2% by the end of 2018 in terms of value, and is expected to be 36.8% by the end of 2026 in the global microbial source hydrocolloids market.
Thickener Segment to Remain Prominent with a 34.4% Value Share by the End of 2026 in the Global Microbial Source Hydrocolloids Market
By application, the thickeners segment is expected to remain dominant in the overall global microbial source hydrocolloids market, with a significant market share of 38.2% by the end of 2018 in terms of value in the global microbial source hydrocolloids market. This segment is expected to reach 36.8% by the end of 2026 in terms of value in the global microbial source hydrocolloids market.
Bakery and Confectionery Segment to Hold a Significant Value Share of 33.3% by the End of 2026 in the Global Microbial Source Hydrocolloids Market
By end use, the bakery and confectionery segment is expected to hold a prominent share in the overall global microbial source hydrocolloids. It is expected to hold a market share of 33.2% by the end of 2018 in terms of value, and is expected to reach 36.5% by the end of 2026 in the global microbial source hydrocolloids market.
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Key Producers of Microbial Source Hydrocolloids
Some of the key players included in the microbial source hydrocolloids market report are CP Kelco, DowDuPont Inc., Cargill, Inc., Ingredion Inc., Archer Daniels Midland Company, Koninklijke DSM N.V., Ashland Global Holdings Inc., Fuerst Day Lawson Limited, Nestlé Health Science S.A., Jungbunzlauer Holding AG, Deosen USA, Inc., Tate & Lyle PLC, Lubrizol Corporation, Fiberstar, Inc., Euroduna Food Ingredients GmbH, B&V SRL, Hawkins Watts, Compañía Española de Algas Marinas S.A., and Hispanagar, S.A., among other microbial source hydrocolloid manufacturers.