DUBLIN--(BUSINESS WIRE)--The "Food Thickeners Market by Type, Source and Application: Global Opportunity Analysis and Industry Forecast, 2022-2031" report has been added to ResearchAndMarkets.com's offering.
The global food thickeners market was valued at $13,085.2 million in 2021, and is expected to reach $22,336.8 million by 2031, registering a CAGR of 5.6% from 2022 to 2031.
Food thickeners or thickening agents provide texture, improve stability, and increase suspension of added ingredient to increase the viscosity of aqueous mixture, without modifying its other properties, specifically taste. In food & beverages applications, thickeners are used to give palatability, texture, bulking, and other properties to food products. These are extensively used in a range of food products such as sauces, seasonings, condiments, soups, meat, poultry, snack foods, cereals, and breakfast.
In 2021, Europe was the leading region, in terms of value, owing to the availability of healthy food products developed by food & beverages manufacturers considering consumers' health. Moreover, consumer demand for healthy and low-fat food boosts growth of the food thickeners market in Europe.
Factors such as increase in demand for convenience food, rise in disposable income, and the advantages & various functions associated with the use of food thickeners are expected to drive the global market during the forecast period. Further, consumer's inclination toward healthy food and lifestyle is expected to create a major growth opportunity for the global industry players. However, volatile cost and high R&D cost associated with the production of food thickeners may impede the market growth.
Food thickeners or thickening agents are the substances that are added to the mixture or food to increase its viscosity without substantially altering its other properties. It helps to improve the suspension of other ingredients along with increased stability of the product. In food industry, thickeners are used to enhance numerous basic properties of foodstuffs such as, viscosity, texture, density, stability, and flavor.
Growth in demand for convenience food, rise in disposable income, and the advantages & various functions associated with the use of food thickeners drive the global market. Furthermore, consumer's inclination toward healthy food and lifestyle is expected to deliver substantial growth opportunity to the global industry players. However, fluctuating prices of food thickeners along with high R&D cost associated with the production of food thickeners is projected to restrain the growth of the global market.
The food thickeners market is segmented on the basis of type, source, application, and region. On the basis of type, it is divided into starch, protein, and hydrocolloid. On the basis of source, it is classified into plant, animal, and microbial. On the basis of application, it is categorized into bakery; confectionery; sauces, dressings, marinades & gravies; beverages; dairy & frozen desserts; and convenience & processed foods. By Region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
According to the market players, the major obstacle faced by them attributed by the COVID-19 pandemic were the disruption of the supply chain and restrictions in manufacturing capacity. Moreover, all the supply channels were nearly shut down in the first quarter of the pandemic.
Key Findings Of The Study
- By type, the food thickeners market size of starch segment remained the dominant segment in the year 2020, and is expected to maintain the market share in the coming years
- By source, plant segment account for nearly 60% of the revenue, followed by animal and microbial
- By application, dairy and frozen dairy category is the major category in terms of value; however, beverage is expected to be the fastest growing segment during the forecast period
- Food thickeners market analysis by region indicates that Europe led in terms of the global food thickeners market share in 2021, and is expected to retain its dominance during the food thickeners market forecast period
Key Market Segments
By Type
- Starch
- Protein
- Hydrocolloid
By Source
- Plant
- Animal
- Microbial
By Application
- Bakery
- Confectionery
- Sauces, Dressings, Marinades, & Gravies
- Beverages
- Dairy & Frozen Desserts
- Convenience & Processed Food
By Region
- North America
- Europe
- Asia-Pacific
- LAMEA
Companies Mentioned
- Archer Daniels Midland Company
- Cargill, Inc.
- E. I. DuPont de Nemours and Company
- Ingredion Incorporated
- Kerry Group Plc.
- CP Kelco
- Darling Ingredients
- Tate & Lyle PLC.
- Ashland Specialty Ingredients
- TIC Gums
For more information about this report visit https://www.researchandmarkets.com/r/ct21rz
