By 2033, the food thickening agents market could be worth more than US$ 3.93 billion, compared to US$ 2.70 billion in 2023, according to FMI’s estimations. The market will probably show a moderate CAGR of 4% over this evaluation period.
As a result of client demand for healthy and delicious ingredients, the food and beverage industry has been undergoing an innovation period. The convergence of technology and the food and beverage industry has compelled businesses to increase the appeal of their products. They also aim to provide high-quality but low-cost solutions.
The food thickening agents market is being driven by increased consumer awareness of contemporary culinary goods, easy accessibility, and increasingly changing lifestyles. During the projection period, increased consumption of processed foods, greater consumer awareness of the necessity of a healthy diet, and stricter governmental food rules are predicted to emerge as major factors driving consumption.
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The food and beverage industries have been enthusiastic supporters of the clean-labeling campaign. As a result, businesses are focusing on developing clean-label items for the market. As a result, there is a greater demand for food-thickening agents generated from organic resources such as plants and seaweeds.
The rising demand for food-thickening agents from the obese and diabetic populations is another key reason for their rising popularity. Since people now consider their health to be a primary concern, there has been a discernible movement in consumer preference away from items that include fat.
Given their ability to substitute calories with fat, thickening agents like starches and gums are becoming extremely prevalent as fat alternatives. This has increased consumer appetite for these products and has had an impact on this market in particular.
Food thickening agents were initially used as a crucial component in the bakery sector. There is a strong demand for bread and other bakery items worldwide that mandates the application of thickeners during manufacturing. The market is moving forward as a result of these key aspects.
Key Takeaways
- The market in the United Kingdom is anticipated to exhibit a CAGR of 6.3% through 2033.
- The United States dominated the market in 2022 holding a 14.2% share of the global market.
- Registering a CAGR of 31.4% over the forecast period, the market in India is predicted to develop rapidly.
- The market in China is expected to proliferate significantly, registering a CAGR of 5.5% over the forecast period.
- Germany accounted for 5.8% of the global market in 2022.
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Competitive Landscape
Manufacturers in the food thickening agents market are putting great emphasis on research and development activities to provide novel and sustainable solutions. In order to meet customer expectations for clean label, natural, and plant-based solutions, they are also investing in innovative technologies and formulations. They aim to enhance the functionality and performance of food thickening agents. Manufacturers are also concentrating on delivering personalized solutions for wide-ranging food applications. Additionally, to increase their market presence and adapt to changing customer tastes, they are constantly investigating strategic alliances and collaborations.
According to the market research Cargill Inc., Ingredion Incorporated., Archer Daniels Midland Company, Kerry Group plc, DuPont de Nemours Inc., Tate & Lyle PLC, TIC Gums, Inc., CP Kelco, Medline Industries Inc., Fuerst Day Lawson Limited, are among the key players in the food thickening agents market.
Recent Developments
- In January 2021, Tate & Lyle added more tapioca-based starches to their lineup. The extension includes the recent thickening starches REZISTA MAX and gelling starches BRIOGEL. This has helped the business grow its line of products.
In November 2020, Ingredion Incorporated obtained Verdient Foods Inc. With the support of this takeover, the business turns more capable of improving its overall sales, expanding its manufacturing capacity, and collaborating with other companies to fulfill the growing demand for plant-based food thickeners.
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Key Segments Covered in the Food thickening agents market
By Source:
- Plant
- Guar Gum
- Gum Arabic
- Locust Bean Gum
- Pectin
- Starches
- Other Plant Sources
- Seaweed
- Carrageenan
- Agar
- Alginate
- Microbial
- Gellan Gum
- Curdlan
- Xanthan Gum
- Animal (Gelatine)
- Synthetic
- Carboxy Methyl Cellulose
- Methyl Cellulose
By Application:
- Bakery & Confectionery
- Meat & Poultry
- Sauces & Dressings
- Beverages
- Dairy Products
- Other Applications
By Region:
- North America
- Western Europe
- Eastern Europe
- Latin America
- Asia Pacific excluding Japan
- Japan
- Middle East & Africa
Author
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
About Future Market Insights (FMI)
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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