Hydrocolloids Market is Projected to Reach $13.36 billion by 2026

The global hydrocolloids market was valued at USD 9.7 billion in 2020 and is projected to reach USD 13.36 billion by 2026, at a CAGR of 5.4% during the forecast period. The growing health-consciousness among consumers in North America and Europe for natural products has driven the demand for natural food additives. Consumers perceive that natural food additives have a positive impact on health as it increases the demand for natural hydrocolloids in food & beverage products. This has driven the interest of food & beverage manufacturers to use natural gums in food. Natural gums are useful as functional ingredients and as natural sources of soluble dietary fiber and are considered healthy ingredients. The demand for a low-calorie diet has also been driving the hydrocolloids market.

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Drivers: Multifunctionality of hydrocolloids to lead to their wide range of applications

Hydrocolloids or gums belong to a group of biopolymers widely used in food technology. Hydrocolloids are widely used in many food formulations to improve quality attributes and shelf-life. Hydrocolloids have been extensively used in different food products as thickeners (soups, gravies, salad dressings, sauces, and toppings), water retention agents, stabilizers, emulsifiers, and gel-forming agents (jam, jelly, marmalade, restructured foods, and low-sugar per calorie gels). They also can be applied for inhibiting ice and sugar crystal formation in ice cream and can help control the release of flavors. In the bakery industry, these compounds help improve food texture and moisture retention to retard starch retrogradation and, finally, enlarge the overall quality of the products during storage. Recently, some hydrocolloids are being used due to their polymeric structure as fat replacers to obtain low-calorie products and substitute gluten in the formulation of gluten-free bread.

Restraints: Stringent regulations and international quality standards

Thickening and gelling agents are food additives, and their use is subject to several laws and regulations. Various studies have been conducted by regulatory bodies to assess the impact of these products on human health. Based on their results, products are classified, and the Daily Intake Allowance (DIA) has been set. International bodies such as the National Food Safety and Quality Service (SENASA), Canadian Food Inspection Agency (CFIA), Food and Drug Administration (FDA), World Health Organization (WHO), and Committee on the Environment, Public Health and Food Safety (EU) are associated with food safety regulations. These organizations have control over the usage of different chemicals and materials used in food processing, directly or indirectly.

Opportunities: Emerging markets in the Asia Pacific and Africa

The growing global population is putting more pressure on producers for the manufacture, extraction, and maintenance of scarce resources. High energy prices and rising raw material costs are impacting food prices, thus affecting low-income consumers. Pressure on food supplies is being exacerbated by water shortages, particularly across Africa and Northern Asia. Advances in science and technology are helping in extending the shelf life of foods to a greater extent. The need for marketing food hydrocolloids to the smallest of food & beverage manufacturers will help in augmenting the market size.

In emerging markets, where lifestyles are changing rapidly, the demand from workplaces and homes is competitively increasing, leading to a greater preference for convenience. Fast food will increasingly become differentiated from junk food as we seek options that are quick and easy but healthy.

Challenges: Unclear labeling to lead to ambiguity and uncertainty

The issue of food labeling in the hydrocolloids industry is similar to that in the entire food industry, including regulatory environments and health concerns that demand more comprehensive labeling. In Europe, regulations have been introduced on labeling foodstuffs to enable European consumers to gain information regarding composition, manufacturer, storage methods, and preparation. Consumers are now becoming more aware of their right to information. They demand full information on the ingredients present in the food products. Although most hydrocolloids are obtained from natural sources, consumers have the perception that they are being obtained from synthetic sources, due to which they are reluctant to use these products.

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Key players in this market include Ingredion Incorporated (US), Cargill, Incorporated (US), DuPont (US), Darling Ingredients Inc. (US), ADM (US), and Kerry Group (Ireland). These players have focused on acquisitions to gain a larger market share in the spices & seasonings market.

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This release was published on openPR.