The report "Food Thickeners Market by Type (Hydrocolloids, Protein, Starch), Source (Plant, Animal, Microbial), Application (Bakery, Confectionery, Sauces, Marinades & Gravies, Beverages, Dairy, Convenience Foods), and Region - Global Forecast to 2022", The food thickeners market is projected to reach USD 15.80 Billion by 2022, at a CAGR of 5.95% from 2016 to 2022. The market is driven by factors such as growth in demand for convenience foods, consumer awareness toward healthy diet, and multiple functionalities and advantages associated with the use of food thickeners.
Multifunctionality, compatibility with other ingredients, low cost, and abundant supply of food thickeners to drive the consumption growth of food thickeners, which, in turn, would drive the global market close to USD 15.80 billion by 2022
Food thickeners are food additives that increase the viscosity of a substance or a mixture while keeping its other properties unchanged. The most widely used food thickeners in the market are starches, followed by hydrocolloids, and proteins. Food thickeners are used in food applications such as bakery products, confectionery products, sauces, dressings, marinades & gravies, beverages, dairy & frozen desserts, and convenience & processed food.
The global food thickeners market is projected to reach USD 15.80 billion by 2022, at a CAGR of 5.95% from 2017. The growth of the market is driven by multifunctionality, compatibility with other ingredients, low cost, and abundant supply of food thickeners. The other key drivers for the market growth are rising demand for convenience & processed foods, and an increase in awareness toward a healthy diet.
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High R&D costs associated with the development & manufacturing of food thickeners and fluctuations in raw material prices of hydrocolloids are the major restraints for the market.
Each food thickener works differently, depending upon the application. Hence, food thickener manufacturing companies should have a strong and dedicated R&D facility to develop food thickeners that are innovative and suitable to demanding product formulations. High R&D costs associated with the extraction and manufacture of vegetable gum and starch derivatives are restraining this market’s small and medium manufacturers. The extraction of thickening agent derivatives from new natural sources for physical and chemical applications in food & beverages has become a challenge for manufacturers. Several specific and technological factors such as crushing, sifting, centrifuging, and hydrolysis, need consideration and add to the manufacturing cost.
The global market, based on type, has been segmented into hydrocolloids, proteins, and starch. The market for starch dominated this market in 2015 and is also projected to be fastest-growing segment during the forecast period. The large consumption of starch as food thickeners is due to their easy availability and abundant supply across regions, and relatively lower price in comparison to other food thickeners, and optimum functionality. Furthermore, they do not to have any negative impact on the organoleptic properties of food products due to which they are preferred over other food thickeners.
The global food thickeners market, based on source, has been segmented into plant, animal, and microbial. The plant sourced food thickeners dominated the market in 2015, and is also the fastest-growing market during the forecast period. The dominance of this source of food thickeners is due to their cost effectiveness, abundant supply & ready availability with large number of suppliers, equal nutritional value at par with other sources, and greater acceptability by both vegan and non-vegan populations.
Food thickeners, by application, has been segmented into bakery, confectionery, sauces, dressings, marinades & gravies, beverages, dairy & frozen desserts, and convenience & processed foods. The dairy & frozen desserts application segment dominated the food thickeners market in 2015. This is due to the wide usage of food thickeners such as hydrocolloids, starch, and proteins, not only for thickening but also for other functional purposes such as flavor and texture enhancement in products. The beverages segment is projected to be the fastest-growing during the forecast period. A number of innovations in the beverage sector, coupled with additional properties of food thickeners such as fat replacement, water binding, emulsifying, and texturizing, are driving their use in the various beverage applications.
Asia-Pacific is projected to be the fastest-growing market for food thickeners during the forecast period
The food thickeners market in the Asia-Pacific region is driven by the growing volume consumption of various types of food thickeners, as food & beverage manufacturers focus on product innovation, health aspects, and improving functional characteristics such as texture, flavor, and other organoleptic properties of their products.
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This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading companies such as Cargill (U.S.), Archer Daniels Midland Company (U.S.), E. I. du Pont de Nemours and Company (U.S.), Ingredion Incorporated (U.S.), and Kerry Group Plc (Ireland). Other players that are active in the industry are Darling Ingredients (U.S.), Tate & Lyle PLC (U.K.), Ashland Specialty Ingredients (U.S.), CP Kelco (U.S.), TIC Gums (U.S.), and Fuerst Day Lawson (U.K.).
