Meticulous Research® – leading global market research company published a research report titled “Hydrocolloids Market by Source (Animal, Microbial, Synthetic, Seaweed), Type (Gelatin, Carboxy Methyl Cellulose, Alginates, Guar Gum), Function (Stabilizer, Encapsulation, Gelling Agent, Coating Material), End User (Textile, Cosmetics) – Global Forecast to 2027”.
According to this latest publication from Meticulous Research®, the overall hydrocolloids market is projected to reach a value of $10.2 billion by 2027, growing at a CAGR of 4.4% during the forecast period. In terms of volume, the market is expected to reach 3878.5 MT by 2027 at a CAGR of 4% during 2020- 2027. This market is majorly driven by factors such as the rising establishment of food and beverage manufacturing units, increasing consumer awareness level for nutritious food, and versatile functionality of hydrocolloids in various industrial sectors. However, the rising hydrocolloids cost and fluctuation in the price of raw material is expected to obstruct the growth of this market to some extent.
The global hydrocolloids market study presents historical market data in terms of value and volume (2018 and 2019), estimated current data (2020), and forecasts for 2027. The market is segmented on the basis of source (botanical, animal, seaweed, microbial and synthetic), type (gelatin, pectin, carrageenan, carboxy methyl cellulose (CMC), xanthan, alginates, guar gum, locust bean gum, agar, gellan gum, microcrystalline cellulose (MCC), and others), function (thickening & gelling, coating material, stabilizer and fat replacer), end-user (food and beverages, pharmaceuticals, cosmetics, textile, and others), and geography. The study also evaluates industry competitors and analyses the market at a country level.
Based on source, the hydrocolloids market is segmented into a botanical, animal, seaweed, microbial, and synthetic. The botanical source segment is estimated to command the largest share of the overall hydrocolloids market in 2020. The large share of this segment is mainly attributed to the increasing consumer demand for natural and organic cosmetics; rapid expansion in the convenience food and ready meal sector; and consumer’s increasing preference towards the healthy, clean label, and plant-based food products.
Based on type, the hydrocolloids market is segmented into gelatin, pectin, carrageenan, carboxymethylcellulose (CMC), xanthan, alginates, guar gum, locust bean gum, agar, gellan gum, microcrystalline cellulose (MCC), and others. The gelatin is estimated to command the largest share of the overall hydrocolloids market in 2020. However, the pectin segment is projected to grow with the fastest CAGR during the forecast period. The factors attributed to the rapid growth of this segment are increasing demand for natural and organic ingredients in food products, increasing consumer demand for low-calorie, high quality food products; and growing utilization of pectin in cosmetic, pharmaceutical, and nutraceutical industries.
Based on end-user, the hydrocolloids market is segmented into food & beverages, pharmaceutical, cosmetics, textiles, and others. The food and beverages segment is estimated to command the largest share of the hydrocolloids market in 2020. The large share of this segment is mainly attributed to the factors such as multi-functionality of hydrocolloids in food industry, increasing demand for healthy food products, and growth in demand for bakery & confectionery products.
This research report analyzes major geographies and provides a comprehensive analysis for North America (U.S., Canada), Europe (France, Germany, U.K. Spain, Italy, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, New Zealand, and Rest of Asia Pacific, Latin America, and the Middle East, and Africa. The Asia Pacific region is estimated to command the largest share of the global hydrocolloids market in 2020, followed by Europe, and North America. The growth in the Asia-Pacific region is mainly driven by the factors such as growing economy of the Asian countries, well established food processing sector, and the increasing purchasing power parity of the population.
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The key players operating in the global hydrocolloids market are CP Kelco Inc. (U.S.), S.A Hwakins Watts Ltd. (Australia), Gelnex Indústria e Comércio Ltd. (Brazil), Fiber Star Inc. (U.S.), Taiyo Kajaku Co. Ltd (Japan), Ingredion Inc.(U.S.), Palsgaard A/S (Denmark), Dupont De Nemours, Inc (U.S.), Cargill Inc. (U.S.), DSM N.V. (Netherlands), Archer Daniels Midland Company (U.S.), Darling Ingredients Inc. (U.S.), Kerry Group Plc. (Ireland), and Ashland Global Holdings Inc. (U.S.) among others.
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