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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2020): 13.5 billion USD
- Forecast CAGR (2022-2027): 5.8%
- Forecast Market Size (2026): 18.9 billion USD
The market in Asia-Pacific is likely to be driven by rising food thickener consumption and the wide variety of food thickeners available in the area. Food and beverage makers are focused on health elements, product innovation, and increasing functional qualities such as flavour and texture, which is fueling the region’s food thickener industry’s growth. Furthermore, increased food and beverage demand, fueled by the rise of the supermarket and e-commerce sectors, as well as expanding consumer awareness and simple access to products, is expected to boost product demand. The market in North America is expected to grow at a healthy pace during the forecast period due to the region’s high consumption of protein, hydrocolloids, starch, and starch derivatives range of food and beverages, the rise in notable demand for the product from various industries in the United States and Canada, the presence of various multinational food processing and manufacturing companies, and the rise in the change in lifestyles of millennials.
Industry Definition and Major Segments
Food thickeners are compounds that are added to food to thicken or increase the consistency of the food without affecting the flavour. They are commonly obtained from plant and animal sources, and they absorb water in the dish to increase the product’s bulkiness and viscosity. Food thickeners include hydrocolloids, collagen, gelatin, arrowroot, cornstarch, potato starch, sago, tapioca, alganin, and xanthan gum. They’re used in sauces, gravies, desserts, and puddings with other ingredients to keep the texture consistent.
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By type, the market can be divided into:
- Xanthan Gum
Based on sources, the market is segmented into:
The leading application segments of the industry include:
- Bakery and Confectionery
- Sauces and Dips
- Convenience and Processed Food
The major regional markets of the food thickeners market are:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa regions
Food thickeners are in high demand because to their enhanced usability in food and beverage applications, as well as rising consumer awareness of health and wellbeing. Continued product innovation, evolving customer tastes for high-quality products, and enhanced government food regulations are projected to promote industry development. Government actions promoting the expansion of the food and beverage industry are predicted to raise demand for the product throughout the forecast period. Various government agencies and organisations have created and executed programmes to encourage individuals to lead healthier lives. These plans include providing new health products aimed at lowering diabetes, obesity, and cholesterol levels, hence increasing demand for food thickeners. Thus, strong expansion in the food and beverage industry, along with a wide customer base, is predicted to boost product consumption throughout the forecast period. Increased disposable money, along with changing consumer habits as a result of rising urbanisation, is expected to propel the sector forward. Product demand is predicted to be driven by increased demand for ready-to-eat snacks, protein-rich meals, and nutritious foods throughout the forecast period. The industry is also expected to develop as demand for non-alcoholic beverages such as fruit juices and energy drinks rises.
Key Market Players
The major players in the market are Archer-Daniels-Midland Company, Ashland, Cargill, Incorporated, DuPont De Nemours Inc., Ingredion Incorporated, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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