Nearly US$4 billion is expected to be spent on the textural food ingredients market in 2021. Through 2027, the market is anticipated to expand at a CAGR of 4.9%, reaching US$ 5.28 Bn.
To cater to a wide consumer palate, food makers have turned to product innovation in textural food ingredients in response to rising customer need for better texture and taste in food products consumed. Future Market Insights has recently published a new report titled “Textural Food Ingredients Market: Global Industry Analysis 2012-2016 and Opportunity Assessment 2017-2027” that examines the global textural food ingredients market over a 10-year period (2017-2027) and provides critical insights into the factors influencing revenue growth in global and regional markets, as well as detailed forecasts based on market segmentation.
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Trends Observed in the Global Textural Food Ingredients Market
Over the predicted period, the data reveals some interesting trends in the demand for and consumption of textural food ingredients. Across the important developing economies, there has been an increase in multi-texture eating experiences. Textural food ingredient innovation has helped producers lower food product costs, and the non-GMO hydrocolloid system is becoming more popular. Developing countries are important growth markets for producers in the worldwide textural food ingredients market, and there is a growing emphasis on e-commerce and social media to reach a broader client base. Digital media is quickly becoming a boon to key players in the worldwide textural food ingredients market.
Global Textural Food Ingredients Market: Segmentation and Forecast
The global textural food ingredients market has been segmented on the basis of Functionality (Emulsifying Agent, Thickening Agent, Stabilising Agent, Gelling Agent, Others); Application (Dairy Products and Frozen Food, Bakery and Confectionery, Sauces, Dressings, and Condiments, Beverages, Snacks and Savoury, Meat and Poultry Products, Pet Food); Type (Hydrocolloids, Starch and Derivatives, Emulsifiers, Others); Form (Concentrate, Powders, Flakes); and Region (North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, MEA).
- Hydrocolloids type segment will remain dominant throughout the forecast period with over 55% market share, followed by Emulsifiers at 29% value share
- Stabilising Agent segment by functionality will lead in terms of market value, estimated to reach a valuation in excess of US$ 7,800 Mn by 2027 end
- By application, the Dairy Products and Frozen Food segment will remain dominant with almost US$ 4,500 Mn in revenues by end 2027 and a CAGR of 5.5%
- The Powder form segment will dominate the global market in terms of value share, estimated to hold more than 45% share of the market by 2027 end
- North America region will dominate the global market for textural food ingredients, with almost 30% value share and revenues in excess of US$ 5,200 Mn by the end of the forecast period in 2027
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Global Textural Food Ingredients Market: Vendor Analysis
The report features some of the prominent players operating in the global textural food ingredients market such as Cargill, Incorporated, Kerry Group Plc., Dohler GmbH, Tate & Lyle PLC, Sensient Technologies Corporation, Archer Daniels Midland Company, Koninklijke DSM N.V., Ajinomoto Co., Inc., CHS Inc., Ingredients Inc., C.P. Kelco, Naturex SA, FMC Corporation, Ingredion Incorporated, E. I. du Pont de Nemours and Company, Foodchem International Corporation, Symrise AG, Ashland Global Holdings Inc., Furest Day Lawson Holdings Limited, Lonza Group Ltd. The global textural food ingredients market is highly fragmented; however, the market is more inclined towards technically superior and sophisticated products. Leading market players are targeting the growing economies in the APEJ region, owing to an increasing consumer preference for more variety in texture and taste in food products across various countries in the region.
Global Textural Food Ingredients Market: Taxonomy
By Functionality:
- Emulsifying Agent
- Thickening Agent
- Stabilising Agent
- Gelling Agent
- Others
By Application:
- Dairy Products and Frozen Food
- Bakery and Confectionery
- Sauces, Dressings, and Condiments
- Beverages
- Snacks and Savoury
- Meat and Poultry Products
- Pet Food
By Type:
- Hydrocolloids
- Starch and Derivatives
- Emulsifiers
- Others
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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