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Hydrocolloids Market Driving Factors & COVID-19 Analysis

12-03-2021 02:15 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Markets and Markets

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 exponential growth in the natural and clean-label food consumption across the food and beverage industry due to its growing awareness has influenced the use of hydrocolloids. Moreover, this has led to an increase in dependence on natural fibers and gums for functional properties, stability, safety, and quality of food products. According to the American Oil chemist society Journal of 2015, hydrocolloids, apart from imparting textural properties, also enhance the nutritional properties of the food as they contain nearly 60%-90% of dietary fibers.

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COVID-19 impact on the hydrocolloids market:

The novel coronavirus/COVID-19 pandemic had significantly impacted almost all industries across the globe. This pandemic has resulted in mass production shutdowns and supply chain disruptions, which have also affected the economy as well.

The preventive effect of hydrocolloid dressing to prevent facial pressure and facial marks during the use of medical protective equipment in COVID-19 pandemic has been of great help to doctors and other front-line workers. Hydrocolloid is semi-permeable material that is present as a layer within a film or foam pad that adheres to the skin, usually used for wound healing. A hydrocolloid dressing is used for this purpose. After the hydrocolloid dressing has been trimmed, the adhesive dressing is then placed over the skin of the nasal dorsum, cheeks, and forehead, covering the area where the mask and protective glasses will rest. This is contributing to the market growth of hydrocolloids significantly in the pharmaceutical field.

However, the worldwide lockdown has also affected the farming practices, which has highly impacted the supply of raw materials of hydrocolloids. Moreover, COVID-19 impact on logistics also contributes to the increased prices of raw materials, which increases the cost for hydrocolloids manufacturers. With barriers to cross-border transportation of commodities in this pandemic situation, the manufacturers are highly dependent on local raw material suppliers, which increases the bargaining power of the suppliers. Thus, the increased raw material prices followed by high demand for hydrocolloids would lead to an increased price of hydrocolloids for the next few years.

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The hydrocolloids market is highly fragmented; hence, there are numerous players in the market offering a wide range of products; The global hydrocolloids market comprises major international players, such as Ingredion Incorporated (US), Cargill, Incorporated (US), DuPont (US), Darling Ingredients Inc. (US), ADM (US), and Kerry Group (Ireland). These players have focused on investment to gain a larger market share in the hydrocolloids market.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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