Report Ocean has recently published a new research study on the global hydrocolloids market. According to the study, the market is expected to exhibit strong growth potential over the period from 2020 to 2027. The report is titled “Global Hydrocolloids Market Size study by Type (Gelatin, Pectin, Carrageenan, Xanthan, Agar, Arabic, Locustbean gum, Carboxymethyl cellulose, Alginates, Guar gum and Microcrystalline cellulose), by Source (Botanical, Microbial, Animal, Seaweed and Synthetic), by Application (Food & beverages, Cosmetics & personal care products and Pharmaceuticals), by Function (Thickeners, Stabilizers, Gelling agents, Coating materials, Fat replacers and Others) and Regional Forecasts 2020-2027” and it has been prepared by carrying out an in-depth assessment of this market based on its past and current performance and future prospects.
The global hydrocolloids market is driven substantially by the increasing application of hydrocolloids in a number of end-use industries, including personal care, oil and gas, food and beverage, agriculture, and pharmaceuticals. The continuous surge in the demand for healthy and natural ingredients in food and beverages from consumers has propelled this market. The augmenting need for bakery and confectionery products, frozen desserts, dairy products, and pet food is also adding to this growth, significantly. The worldwide market stood approximately at US$9.2 bn in 2019. According to the study, this market is likely to rise at a CAGR of more than 5.3% over the period of 2020-2027.
On the flip side, the presence of stringent regulations and international quality standards and the dearth of resources, creating a demand-supply imbalance, may obstruct the upward growth trajectory of this market in the years to come, states the research report.
Presence of Large Food and Beverages Market Drives North America
The research report also presents a regional assessment of the global hydrocolloids market. As per the study, the market is distributed among Asia Pacific, North America, Europe, Latin America, and the Rest of the World. The leading regional market for hydrocolloids is North America. The presence of a large market for confectionery, bakery, convenience food, and packaged food products in this region has been boosting the North America hydrocolloids market. The market in Asia Pacific is expected to register a higher growth rate than other region al markets during the forecast period.
The key players in the worldwide market for hydrocolloids are taking up various strategies to gain significance in the market. The most popular growth strategy among them is technological innovations. For instance, in early 2019, Ingredion extended its texture capabilities with single hydrocolloids in a bid to expand the specialty product portfolio of the company.
Impact of Covid 19 on Global Hydrocolloids Market
The lockdown imposed due to the spread of Coronavirus across a number of nations has affected the global hydrocolloids market substantially. With restaurants and eateries completely shut, the demand for food and beverages has drastically declined and so is the need for hydrocolloids. However, as the governments are on their way to lift the lockdown and the food and beverage sector already reopened, the market is likely to get back to its normal self soon.
- The most popular growth strategy among key market players is technological innovations.
- The leading regional market for hydrocolloids is North America.
- Locustbean gum
- Carboxymethyl cellulose
- Guar gum
- Microcrystalline celluloses
- Food & beverages
- Cosmetics & personal care products
- Gelling agents
- Coating materials
- Fat replacers
- North America
- Asia Pacific
- Latin America
- Rest of the World
Companies Mentioned in the Report
- DuPont de Nemours, Inc.
- Ingredion Incorporated
- Cargill, Incorporated
- Kerry Group plc
- Archer Daniels Midland Company (Adm)
- Palsgaard A/S
- Darling Ingredients Inc.
- CP Kelco
- Ashland Inc.
- BASF SE
Company Name: Report Ocean
Contact Person: Nishi Sharma
Email: Send Email
Address:Classic Tower, Rajnagar Extension
State: UP, 201017