The global food thickeners market size was estimated to be USD 14.27 billion in 2020 and is expected to reach USD 19.63 billion at a compounded annual growth rate (CAGR) of 4.7% from 2020 to 2027. This growth in demand for food thickeners is spearheaded by the growing applicability of the product in food and beverage application along with rising consumer awareness regarding health and wellness.
Factors such as ongoing product innovation, changing consumer preferences for high-quality products, and strengthening government food regulations are expected to positively impact market growth. Favorable government regulations pertaining to the growth of the food & beverage industry are anticipated to augment the demand over the forecast period.
Hydrocolloid as a food thickeners accounted for more than 41.0% share of the global revenue in 2019. The various types of hydrocolloids used as food thickeners include alginate, pectin, locust bean gum, guar gum, xanthan gum, carrageenan gum, and beta-glucan. The stable nature of hydrocolloids under low pH makes them fiber rich, thus, enhancing its application in the food & beverage industry.
Plant based food thickeners led the market and accounted for more than 66.0% share of global revenue in 2019. Plant-based products are the most popularly used ingredients in most applications such as bakery, confectionery, ready to eat meals among others, which can be ascribed to their high efficacy and competitive pricing. Some of the widely used plant-based food thickeners include cornstarch, tapioca, agar, xanthan gum, rice flour, and pectin.
Bakery is the largest application segment for food thickeners and accounted for a market share of more than 24% in 2019. The segment is expected to continue its dominance over the forecast period. Factors such as rising demand for organic and natural baked goods and trend of healthy snacks are expected to drive the demand for food thickeners over the forecast period.
The Food thickeners market is segmented on the basis of types, source, application and region. On the basis of types the market is segmented into Protein, Starch, and Hydrocolloids. On the basis of source the market is segmented into Animal, Plant, and Microbial. On the basis of application the market is segmented Bakery, Confectionery, Sauces & Dips, Beverages, Convenience & Processed Food, Others.
North America dominated the market with a share of more than 38.0% in 2019 owing to the notable demand for the product from various industries located in U.S. and Canada. The market in North America is primarily driven by the highly developed food and beverage industry in the U.S. and Canada. The market also benefits from the presence of various multinational food processing and manufacturing companies, resulting in an increased demand for the product.
North America has been witnessing increasing demand for products such as pastries, muffins, and cupcakes since recent years. Players in the bakery and confectionery industry are incorporating innovation into their products through the use of different thickeners. In addition, demand for bakery and confectionery products is rising in the region.
Key players are: Cargill Inc.; Archer Daniels Midland Company; DuPont De Nemours Inc.; Tate & Lyle PLC; CP Kelco U.S. Inc.; Kerry Inc.; Ingredion Incorporated; Ashland; TIC Gums Inc.; FDL Limited; Naturex S.A.; Medline Industries Inc.; Darling Ingredients Inc.
Factors such as ongoing product innovation, changing consumer preferences for high-quality products, and strengthening government food regulations are expected to positively impact market growth. Favorable government regulations pertaining to the growth of the food & beverage industry are anticipated to augment the demand over the forecast period.
Hydrocolloid as a food thickeners accounted for more than 41.0% share of the global revenue in 2019. The various types of hydrocolloids used as food thickeners include alginate, pectin, locust bean gum, guar gum, xanthan gum, carrageenan gum, and beta-glucan. The stable nature of hydrocolloids under low pH makes them fiber rich, thus, enhancing its application in the food & beverage industry.
Plant based food thickeners led the market and accounted for more than 66.0% share of global revenue in 2019. Plant-based products are the most popularly used ingredients in most applications such as bakery, confectionery, ready to eat meals among others, which can be ascribed to their high efficacy and competitive pricing. Some of the widely used plant-based food thickeners include cornstarch, tapioca, agar, xanthan gum, rice flour, and pectin.
Bakery is the largest application segment for food thickeners and accounted for a market share of more than 24% in 2019. The segment is expected to continue its dominance over the forecast period. Factors such as rising demand for organic and natural baked goods and trend of healthy snacks are expected to drive the demand for food thickeners over the forecast period.
The Food thickeners market is segmented on the basis of types, source, application and region. On the basis of types the market is segmented into Protein, Starch, and Hydrocolloids. On the basis of source the market is segmented into Animal, Plant, and Microbial. On the basis of application the market is segmented Bakery, Confectionery, Sauces & Dips, Beverages, Convenience & Processed Food, Others.
North America dominated the market with a share of more than 38.0% in 2019 owing to the notable demand for the product from various industries located in U.S. and Canada. The market in North America is primarily driven by the highly developed food and beverage industry in the U.S. and Canada. The market also benefits from the presence of various multinational food processing and manufacturing companies, resulting in an increased demand for the product.
North America has been witnessing increasing demand for products such as pastries, muffins, and cupcakes since recent years. Players in the bakery and confectionery industry are incorporating innovation into their products through the use of different thickeners. In addition, demand for bakery and confectionery products is rising in the region.
Key players are: Cargill Inc.; Archer Daniels Midland Company; DuPont De Nemours Inc.; Tate & Lyle PLC; CP Kelco U.S. Inc.; Kerry Inc.; Ingredion Incorporated; Ashland; TIC Gums Inc.; FDL Limited; Naturex S.A.; Medline Industries Inc.; Darling Ingredients Inc.
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