Food Hydrocolloids Market: About the Report
Increasing consumption of convenience and ready-to-eat food, especially across developing economies, is surging the use of food hydrocolloids in the food processing industry. While North America and Europe hold substantial shares in the global food hydrocolloids market, South and East Asia will offer increasing lucrative opportunities to market players. PMR’s report and talks about how manufacturers in this space can leverage product innovation and clean labelling to enhance their positive in this fragmented market landscape.
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- Cargill, Incorporated
- DuPont de Nemours, Inc
- CP Kelco
- Ingredion Incorporated
- Archer Daniels Midland Company
- Tate & Lyle PLC
- Darling Ingredients Inc
- H&F GROUP
- UNIPEKTIN Ingredients AG
- W Hydrocolloids, Inc.
- Haisheng Group
- Hindustan Gum & Chemicals Ltd
- Meron Group
- Lucid Colloids Ltd.
Food Hydrocolloids Market Trends
Expansion of Ready Meal and Convenience Food Market Catalyzing Food Hydrocolloids Demand: Hydrocolloids play a significant role in the food processing industry, wherein, these are used as gelling agents, thickeners, and stabilizing agents. Over the past decade, the food processing industry has reported large-scale adoption of food hydrocolloids, attributed to their functional properties. In response to rising demand for ready meal food products, the use of hydrocolloids has also increased significantly, which bodes well for the expansion of the global food hydrocolloids market size over the coming years.
Convenience and ready meal food products have reflected varied growth rates across the globe, though has remained higher than 5% over the past two years. Changing lifestyles and increasing women workforce have paved the way for the growth of the convenience food market. Technology and innovative packaging have widened the food choices that are available in the market in various categories such as frozen, chilled, packaged foods, etc.
Since, consumer dynamics are likely to get more complex and eating habits will further diversify, it is anticipated that, demand for convenience and ready-to-eat meals will further increase. This would translate into increased demand for ingredients used in such food product processing, thus stimulating demand for food hydrocolloids across all geographies, though a little higher in developing markets.
Hydrocolloids Replacing & Reducing Other Ingredients in Food Products: The global market place is shifting toward low or no sugar containing food products. In order to produce these food products, either novel sweeteners or salts are currently used in a majority of food processing and manufacturing units. However, uptake of hydrocolloids has reportedly increased wherever a functional attribute needs to be added in the food product. Hydrocolloids can be used to provide functional solutions that allow the reduction and replacement of these ingredients.
In order to reduce sugar, pectin is used in food processing. Pectin is a naturally-occurring polysaccharide found in plant cell walls. It is widely used to gel, thicken, and stabilize foods, and on the backdrop of increased demand for low sugar food products, pectin is the preferred choice of food processors.
A few food products need to be characteristically soft, fat-like, and spreadable, and thus, fat is added in the ingredients. However, consumers also prefer low fat products, but to retain these attributes, starch gels are used, and referred to as fat replacers. Starch gels have long been used and newer formulations are also available in the market. Some of them are proprietary and used on a large scale. On the backdrop of adding functional properties in food products, consumption of food hydrocolloids is likely to remain significant over the next few years, thereby boosting the growth of the global food hydrocolloids market across regions.
Food Hydrocolloids Products with Clean Labeling Offering Beneficial Opportunity to Market: Preference for products with natural ingredients is trending among manufacturers as well as consumers in the global market. Owing to this trend, an increasing number of manufacturers are focusing on procuring food ingredients and raw material that have been processed under ideal or suitable conditions. This includes processes such as cleaning, sorting, and grading, wherein, the processing company has stringently adhered to various norms and regulations related to extraction practices and hygiene. This is owing to need to reduce the impact of production on the environment.
Manufacturers in the food hydrocolloids market following clean labeling is an emerging trend that is expected to offer a competitive and sustainable advantage over manufacturers of synthetic ingredients. Also, from the end user’s perspective, products should have clean label recognition such as being environment-friendly and safe to consume, along with ensured quality checks at every step of the production process.
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Regional Outlook of Food Hydrocolloids Market
North America and Europe hold leading food hydrocolloids market shares by value. European countries have higher consumption of bakery, confectionery, and other food products, which has led to the higher utilization of food hydrocolloids. In the U.S., availability of prominent manufacturers of food hydrocolloids has also contributed in significant market value share of North America in the global food hydrocolloids market. Consumers in developed regions are seeking new and innovative food products all the time. This factor is anticipated to boost the use of food hydrocolloids in food products, thereby aiding growth of the food hydrocolloids market.
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COVID-19 Impact on Food Hydrocolloids Market
The COVID-19 disease outbreak has disturbed the global economy, and the food & beverage industry too has been subsequently impacted by this pandemic. As food consumption patterns have changed, production and utilization of food ingredients has also changed across the world. Blockage of trade activities, supply chains, and distribution networks has had a moderate impact on the sales of food products. However, as restrictions have been eased, food & beverage product manufacturing and sales have also increased substantially. This has become a promising factor for the food hydrocolloids market. Overall, the coronavirus disease outbreak is expected to have low to moderate impact on the food hydrocolloids market.
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The global food hydrocolloids market is anticipated to experience considerable growth over the coming years, with South and East Asia projected to offer potential growth opportunities during the forecast period (2020-2030. Food manufacturers are preferring food hydrocolloids due to their beneficial functionalities such as thickening, stabilizing, emulsifying, and gelling, which is supporting the growth of the global food hydrocolloids market.
Leading market players such as DuPont, Cargill, CP Kelco, and others are focusing on business expansion and targeting product innovation to strengthen their positions in the global food hydrocolloids market. Enhancing quality and improvement of distribution networks are other strategies being adopted by key players to gain a competitive edge in the global food hydrocolloids market space.