The increasing demand for convenience foods in the developing economies is influencing growth and demand in the global hydrocolloids market. People nowadays are more particular about their health and multi-functionality, which is creating a demand influx in the hydrocolloids market. The market size was valued at $8.5 billion in 2018, and the demand is projected to grow at a healthy compound annual growth rate (CAGR) of 5.50% during the forecast period of 2019 to 2025, as per the analysts of IndustryARC.
The IndustryARC’s business intelligence report is titled Hydrocolloids Market. This report covers Hydrocolloids Market Size by type and applications, Hydrocolloids Market share by top 5 companies and also the market share by start-ups during the forecast period
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Global Hydrocolloids Market: Leading Segments
North America had the largest share in the hydrocolloids market that translated to 40% in 2018. This is predominantly owing to the increasing demand from the oil & gas and food & beverages sector. U.S. and Canada are observing increasing oil drilling activities which are leading to growth prospects in the hydrocolloids market. North America hydrocolloids market had a huge market for R&D and shows immense interest in innovations. Furthermore, another factor that has affected the market is the change in the preference of the customers towards low-fat food.
Moreover, the key application segment is the food & beverages industry, according to the application analysis by the analyst of IndustryARC in the report. The opportunities for growth in this application is projected to observe a healthy CAGR of 5.90% during the forecast period.
Global Hydrocolloids Market: Market Trends and Growth Drivers
Increasing Interest in R&D
The major driver in the hydrocolloids market is the increasing interest of the people in the R&D. The manufacturers are nowadays focusing on product innovation with high-quality hydrocolloids for the end-user. This is increasing investments that are made for R&D in the hydrocolloids market.
The continuous rise in demand for frozen and dairy products with an increasing focus on health management and protein consumption will propel the hydrocolloids market.
Due to the increasing need for the emulsifiers in the sectors such as food & beverages and gelatin has enable a sustainable hydrocolloids market in Germany, UK, and France. In these countries, gelatin is considered as food and not food additives. It has few applications such as in deserts, ice creams, and marshmallows. This application is expected to create lucrative demand influx in the hydrocolloids market in the future.
Change in Consumers Preference
Since there is a change in the lifestyle of the people in recent times, the preference of the people has also changed in terms of their eating habits. People have become more health conscious and prefer low-fat food that has affected the growth of the hydrocolloids market.
Guar gum has a significant impact on the dough, bread, and finished products. Guar gum is the best food additive due to its vivid features. Moreover, hydrocolloids have a positive impact on the bakery products, and so, there is an increasing market for hydrocolloids.
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Global Hydrocolloids Market: Competitive Landscape
Some of the key companies identified in the report that are currently holding majority shares in the global hydrocolloids market are Ingredion Incorporated, Cargill, Incorporated, DowDuPont Inc., The Archer Daniels Midland Company, Kerry Group, Darling Ingredients, Lubrizol Corporation, Rousselot S.A.S., and Ashland Inc.
a) Textural Food Ingredients Market
b) Carrageenan Gum Market
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