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Hydrocolloids Market, Price Trends, Competitive Market Share & Forecast, 2017 – 2024.
Hydrocolloids Market size may witness significant growth due to its increased application in food & beverage industry on account of its ability to enhance stability, texture, viscosity and physical appearance.
Hydrocolloids is typically a gel in which hydrophilic polymers are suspended in water. It is sourced from starch, galactomannans, pectin, Arabic gum, beta glucan chitosan and gellan. it is primarily produced from seeds, seaweed extracts, fruit peels, tree sap and animal extracts. Microbiological products are also manufactured from bacteria like xanthan gum and methylcellulose.
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Hydrocolloids are preferably used in food formulations to improve shelf-life and quality attributes. It is used as gelling and thickening agents. In thickening agents, it is found in sauces, salad dressings, soups, and toppings while in gelling agents it is found in products including jelly, jam, and marmalade. Increase in living standard along with rise in processed food demand may drive industry growth over the foreseeable future. Additionally, it produces edible films on food surfaces and components.
Strong application scope in meat & poultry products may drive hydrocolloids market owing to its water-binding and texture modifying properties along with cost effective way of replacing fats in meat products. Gelling agents like carrageenan and starch are used in the meat industry to improve water retention in meat.
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Hydrocolloids are used as suspending agents and rheology control in pharmaceutical formulations. They have different applications in different pharmaceutical dosage depending on critical micelle concentration, bioadhesive strength, adsorption power, and HLB value. Global pharmaceutical market may witness gains at over 6.5% by 2024. Rise in disposable income along with consumer awareness towards healthcare devices may favor industry growth.
Positive application scope in bakery sector may drive hydrocolloids market size. It is used in baked products thereby increasing loaves volume and extend shelf life. Global bakery ingredients market size was over USD 10.5 billion in 2016, with gains at over 5.5%. rising consumption of bakery products including cakes, pastries, biscuits, and bread may stimulate industry growth.
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Carrageenan and agar are the key raw materials for its production process. Volatile raw material prices along with seasonal availability causing supply deficit may limit industry profitability thereby affecting hydrocolloids market price trend. Stringent regulations regarding quality standards for food stabilizer products may act as another concern.
Global hydrocolloids market share is moderately fragmented. Key market players operating in the industry includes Cargill, DuPont, Ingredion, CP Kelco, Kerry Group and Royal DSM.
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