The increasing sale of food thickeners is driven by the increase in demand for stable food product with high consistency. Improvement in economic conditions in various regions have influenced the food consumption pattern of the consumers leading to increase in consumption of bakery, confectionery and frozen dessert products. Raise in consumption of these products has a direct impact on the growth of food thickeners industry. The share of Asia-Pacific region in the food thickener market is evaluated to increase based on the growing demand for convenience food in the developed countries of the region.
Globally the Food Thickeners market share in manufacturing of soups and gravies is estimated to escalate at a higher growth rate supported by the rising demand of ready-to-eat and frozen food meals. . In addition, the application of hydrocolloids in food industries is projected to increase at a higher CAGR which will include the usage of unconventional food thickeners. Use of protein as a source of food thickeners also has a potential for growth as consumers have a high demand to increase the overall protein content of the food products available commercially. Application of thickener in beverage also holds a significant share. Thus, the consumption of Food Thickeners is anticipated to experience a surge based on its multi-purpose applications of these thickeners also as a food stabilizer in various industries.
Based on all these factors, the food thickeners market is calculated to grow at the CAGR of 4.5% during 2016-2022.
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Major Key Players:
The major key players in Food Thickeners Market are
- Cargill (U.S.)
- Tate & Lyle PLC (U.K.)
- Archer Daniels Midland (U.S.)
- Ingredion Incorporated (U.S.)
- E. I. du Pont de Nemours and Company (U.S.)
- Kerry Group Plc (Ireland)
- TIC Gums (U.S.)
Application of Food Thickeners is high in bakery and confectionery industries followed by frozen dessert and dairy industries. Food Thickeners constitutes major segment in the manufacturing of the end products of these industries. Food thickeners produced from microorganisms is growing at a steady rate based on the increased focus on R &D in the food and beverage industries. Use of microorganisms in for production of these food ingredients is fueling up. Agar, Gelatin and xanthan gum are used more commonly even for household food preparations.
The global food thickeners market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Among these North America region has the major market share followed by Europe. U.S. is amongst the major consumer of food products which have food thickeners as a major content. Increasing demands of ready-to-eat meals and drinks is supporting the growth of food thickeners market share in developed countries of North America and Europe region. Japan, Canada, Belgium, U.K. and Germany are the major importers of food thickeners. Key players are mainly focused on increasing their market share by supplying to food and beverage and ready-to-eat meal manufacturers as food thickeners is used as a common and most widely used ingredients in these industries.
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