Food Thickeners Market driven by Increasing demand for bakery products

A robust rise in the hospitality industry and the subsequent rise in the number of restaurants worldwide will primarily impact food thickeners market over the years to come. Besides the basic need of meal and beverage consumption, restaurants have also served as a perfect spot for building connections and shaping social relations. With the rapid urbanization and globalization of emerging economies and a growing number of small businesses in developed nations, restaurants are occupying a significant place in shaping the overall economy and make up of cities across the world.

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In Dubai, the total number of operational restaurants reached over 11,810 by the end of 2018, spurred by the city’s sophisticated infrastructure and its favorable environment for conducting businesses transactions. Meanwhile, the United States is witnessing a massive boom in the mobile food business. This business is less risky and more diverse compared to brick and mortar restaurants since it requires significantly lower upfront investment and provides plenty of opportunities to experiment with new menu items. The growing number of restaurants and food spots will thus favor the global food thickeners market as the product is extensively used to thicken liquid food and as a binding ingredient.

Increasing development in the dairy and frozen desserts sector, especially in parts of Asia Pacific like India are one of the supportive factors driving the growth of food thickeners industry. India is the world’s largest producers and consumers of dairy products accounting for 20% of the world production. The regional market is witnessing rapid growth and is estimated to grow even further over the foreseeable years. Increase in production is further favored by growth in online milk shopping, increasing purchasing power, rapid urbanization, shifting food habits and demographic growth.

With rising disposable incomes, consumers have started improving their protein intake and are slowly shifting toward high-quality packaged dairy products and frozen desserts. Recently, Mondelez India partnered with Hindustan Unilever Limited to merge Cadbury Oreo and Cadbury Gems with HUL’s Kwality Walls line of frozen desserts to satisfy consumer’s growing demand for newer eating experiences. Thickening agents are a common ingredient in milk, yogurt, frozen desserts, and other dairy-based products, thus, it is rather overt that increasing dairy consumption will stimulate the food thickeners industry growth. A research report by Global Market Insights, Inc., even estimates the global food thickeners market size from dairy and frozen dessert application to surpass $1.9 billion by 2025.

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Lately, processed and packaged foods have witnessed a considerable rise in demand. Although not the best in terms of taste compared to freshly cooked meals, processed foods are popular because of their easy availability. Processed foods are easy to grab when on the go, getting customers accustomed to not plan much time to cook a full-fledged meal. This habit can be blamed on rapid urbanization paired with increasing disposable incomes and subsequent affordability.

The population in emerging and developed cities is robustly increasing, exhibiting a visible change in lifestyles and food habits of consumers. People are slowly shifting from traditional food to adapting urban packaged food habits. Moreover, given the growing population in urban areas, the number of retail stores has also grown, attracting customers through a wider range of products under one roof. Furthermore, an increasing number of working hours and working members within a family leaves less time for preparing home-cooked meals, leading to increased consumption of packaged food and beverages. Since thickeners are extensively used in processed and ready-to-eat meals, it goes without saying that their increasing demand and production will propel the food thickeners market growth over 2019-2025.

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Some healthy food trends like increasing consumption of gluten-free foods, especially baked food items will also boost the demand for gluten-free food thickeners like Xanthan gum, carob bean gum, guar gum which are great alternatives for gluten. Given the consumers’ constantly shifting food habits, the global food thickeners market will continue to depict an exponential growth in the coming years. Moreover, the global food thickeners market is estimated to exceed a valuation of $12.5 billion by 2025, according to a research report by Global Market Insights, Inc.

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