Northbrook, IL 60062 -- (SBWire) -- 09/13/2023 --According to a research report titled "Hydrocolloids Market by Type, Source, Function, Application, and Region - Global Forecast to 2028," published by MarketsandMarkets, the global hydrocolloids market is poised for significant growth. In 2023, it is estimated to be valued at USD 11.2 billion and is projected to reach USD 14.5 billion by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 5.4% during the forecast period. This growth can be attributed to the increasing consumption of natural and clean-label food products across the food and beverage industry, driven by growing consumer awareness. Consequently, there is a heightened reliance on natural fibers and gums for their functional properties, which enhance food product stability, safety, and quality. According to a 2015 study in the American Oil Chemist Society Journal, hydrocolloids not only influence textural properties but also enhance the nutritional aspects of food, containing approximately 60%-90% of dietary fibers.
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Key Findings:
Pectin Emerges as the Fastest-growing Type: Pectin, a crucial polysaccharide with applications in food, pharmaceuticals, and various industries, is anticipated to be the fastest-growing type in the hydrocolloids market. Its versatility includes roles as an emulsifier, gelling agent, thickener, stabilizer, and a low-calorie food ingredient. Pectin's significance in the food sector lies in its capacity to form a gel under specific conditions, such as the presence of Ca2+ ions or a solute at low pH.
Seaweed Sourced Hydrocolloids Exhibit High Growth: The seaweed segment, a source of hydrocolloids, is projected to experience the highest CAGR during the forecast period. Seaweed-derived hydrocolloids, including alginate, carrageenan, and agar, play essential roles in the food ingredient industry due to their exceptional thickening, gelling, and film-forming properties. These natural hydrophilic polymers, extracted from brown and red seaweeds, find applications as thickeners, stabilizers, coagulants, and in bio-medical industries for making impressions.
Stabilizers as a Fast-growing Function: Stabilizers are poised to be the fastest-growing function of hydrocolloids during the forecast period. These additives enhance viscosity, flavor, and overall body in beverages while preventing sedimentation and maintaining ingredient suspension. Common stabilizers include hydrocolloids like xanthan gum, gum Arabic, and gum acacia, as well as modified starches, pectin, carrageenan, casein, and inulin.
Cosmetics & Personal Care Products Segment Grows: Hydrocolloids are finding applications in the cosmetics and personal care industry, replacing synthetic chemicals with natural alternatives. With consumer demand for natural cosmetics on the rise, manufacturers are leveraging hydrocolloids' long-standing use in the food industry to meet this growing demand.
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North America Leads Market Growth: North America is expected to be the fastest-growing region during the forecast period. This growth is driven by the application of hydrocolloids in premium food products and the demand for natural and low-calorie food items. Leading manufacturers in the North American hydrocolloids market include Ashland Inc., CP Kelco, Cargill, Incorporated, Ingredion Incorporated, and Darling Ingredients Inc., among others.
Key Market Players: Prominent companies in the hydrocolloids market include International Flavors & Fragrances Inc., Ingredion, Cargill, Incorporated, Kerry Group plc, Archer Daniels Midland Company, Palsgaard A/S, Darling Ingredients Inc., DSM, Ashland, Tate & Lyle, CP Kelco U.S., Inc., Nexira, Deosen Biochemical (Ordos) Ltd., Fufeng Group, and BASF SE.
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Global Hydrocolloids Market Trends and Growth Projections
Hydrocolloids Market by Type (Gelatin, Pectin, Carrageenan, Xanthan gum, Agar, Gum Arabic, Alginates, Guar gum, MCC), Source (Botanical, Microbial, Animal, Seaweed, Synthetic), Function, Application and Region - Global Forecast to 2028