The global gum hydrocolloid market share is expected to grow at a higher growth rate supported by the changing lifestyle and changing food consumption pattern of consumers. Rising R&D investments in hydrocolloid ingredients is driving the market of gum hydrocolloids. However, the volatile raw material prices leading to high production cost may hamper the growth of the market.
All these factors will contribute to the estimated CAGR of 4.7% of gum hydrocolloid market during the forecast period 2017-2023.
Rising demand of gum hydrocolloid is witnessing high demand across the food industry based on its functionality. Hydrocolloid is used as an additive to improve the texture and modify the viscosity of food systems. Increase in consumer preference for natural ingredients in food and beverages is adding fuel to the growth of hydrocolloid market. The consumption of hydrocolloid is high in bakery manufacturers and is projected to increase at a higher rate in pharmaceutical and cosmetics industry. Furthermore, dairy industry and confectionary industry are increasing the usage of hydrocolloid as an additive.
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Some of the key players profiled in the global gum hydrocolloid market are Cargill, Inc (the U.S), Darling Ingredients Inc. (the U.S.), Kerry Group PLC (Ireland), CP Kelco (the U.S.), Ingredion Incorporated (the U.S.), Rico Carrageenan. (Philippines) and Ashland Inc. (the U.S.)
Personal care based application of hydrocolloid gum is projected to have higher growth rate owing to technological strides in the cosmetic industry.
Top exporters of hydrocolloid gum include China, India, the U.S., Germany, Spain
Bakery goods manufacturers
Meat processing industry
Personal care product manufacturers
Traders, importers and exporters
Gum hydrocolloid has been segmented on the basis of type comprising of xanthan, guar gums, alginate, gellan gum, Arabic gum, carrageenan and others. Xanthan gum holds a major share based on its potential applications in food, toothpaste, medicines and other personal care products.
On the basis of application, hydrocolloid is segmented in dairy products, personal care products, pharmaceuticals, bakery, meat processing, confectionary and others. Among these segments, bakery dominates the market followed by confectionaries owning to its high application as a food texture enhancer.
Based on functionality, hydrocolloid is segmented as thickening agent, gelling agent, stabilizing agent and others. Its functionality as a stabilizer is found to be escalating based on higher demand of processed food with higher shelf life.
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The global hydrocolloid market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). North America holds a major share followed by Europe. The rising nutritional trend and increasing consumption of processed food in the U.S. and U.K. will continue to drive the growth of hydrocolloid. In Asia Pacific, the changing lifestyle and shifting food consumption pattern followed by an increase in disposable income anticipates development and growth of hydrocolloid market in its developing countries.