Food Thickeners Market Report

Food Thickeners Market Analysis, By Product (Starch, Hydrocolloids, Protein), By Application (Bakery, Confectionery, Beverages, Dairy), By Region, And Segment Forecasts, 2014 - 2025

  • Published Date: Nov, 2017
  • Base Year for Estimate: 2016
  • Report ID: GVR-2-68038-022-4
  • Format: Electronic (PDF)
  • Historical Data: 2014-2016
  • Number of Pages: 86

Industry Insights

The global food thickeners market size was estimated at USD 11.05 billion in 2016. Growing consumer spending on convenience and processed food products owing to increasing disposable income and changing lifestyle is expected to drive the growth of food processing industry, thereby positively impacting the market.

The industry is highly competitive owing to the presence of several manufacturers across the globe. It is characterized by agreements, collaborations, acquisitions, and joint venture strategies adopted by major players. In addition, these players are projected to invest in new product launches and regional expansion strategies to strengthen their position in the industry.

U.S. food thickeners market

The U.S. accounted for the highest share in 2016 owing to the presence of a large number of food & beverage manufacturers, such as TIC Gums, ADM, Cargill Inc., and CP Kelco, in the country. Rising demand for comfort foods in the country is further expected to fuel the industry growth.

The product enhances texture and offers desired viscosity to food items without affecting their nutritional value. The product is being increasingly used in non-alcoholic beverages such as energy drinks, juices, and fruit pulps, which is expected to propel the need for food thickening agents over the next eight years.

The industry players compete on the basis of their wide product portfolio and brand value. Majority of the players in the market have established contracts with the end users and this trend is expected to continue over the projected period. The competitive rivalry is anticipated to increase owing to these factors over the next eight years.

The U.S. is the price settler for the industry owing to the presence of several manufacturers in these countries. Rising consumer awareness regarding health coupled with stringent regulations associated with food & beverage industry is expected to compel manufacturers to invest in R&D to develop natural and safe thickeners over the forecast period.

Product Insights

Starch is expected to be the fastest-growing segment, denoting a CAGR of 6.7% from 2017 to 2025. Superior properties such as high viscosity, stability, and low cost are expected to trigger the use of starch in end-use applications. It is widely available and does not affect the taste of food products, which in turn is expected to boost its demand.

Proteins such as collagen, gelatin, and egg whites offer emulsifying, gelling, and stabilizing properties, which are expected to drive its need in end-use applications. In addition, proteins are water soluble and do not require reactive agents for conversion, which offers them a competitive edge over their counterparts.

Hydrocolloids segment accounted for over 25% of the overall market in 2016. These products exhibit superior properties including rich texture and opacity, owing to which they have a high demand in end-use applications. However, higher cost of hydrocolloids in comparison to their counterparts is likely to hamper growth over the forecast period.

Products such as xanthan gum, guar gum, and alginates are used to thicken hot and carbonated drinks. Growing demand for easy to cook soups and curries is expected to propel the demand for these products over the projected period. These products help maintain the desired consistency in hot beverages, which is another factor driving their demand.

Application Insights

Beverages is expected to be the fastest-growing application segment for the market, which is likely to grow at a CAGR of 7.5% from 2017 to 2025. Adoption of green initiatives by beverage manufacturers, increasing use of clean packaging, and rising demand for healthy drinks are few factors that are projected to drive the product demand over the next eight years.

Food thickeners market

Bakery products accounted for over 25% of the total demand in 2016. Rising awareness regarding health risks associated with the consumption of gluten is driving the demand for gluten-free bakery ingredients and products, which is likely to boost the demand for natural thickeners over the projected period.

Innovative marketing campaigns, product innovation, and retail expansion are the major factors driving confectionery market. The demand for confectioneries is likely to ascend with the market players engaging in product portfolio expansion to include popular comfort foods such as crunchy cookies and chocolate candy bars, which is, in turn, likely to have a positive impact on the market.

Growing popularity of ready-mix food items including curry mix, dessert mix, and snacks mix owing to changing consumer dietary habits and lifestyle is expected to be a key factor driving the product growth over the projected period. Increasing urban middle-class population in the developing regions is likely to propel the demand for ready-mix products, thus impacting the industry growth on a positive note.

Regional Insights

The demand for the product in India is expected to indicate a CAGR of 7.1% from 2017 to 2025. Emerging trends such as the demand for clean-labeled food products and changing consumer eating preferences are likely to lead to a high demand for confectionery and bakery products, which, in turn, is anticipated to positively impact the industry trends.

Germany was the largest food & beverage market in Europe in 2016. The country produces over 17,000 different types of products every year. Increasing cross-border trading and rising number of food retail chains in the region are accelerating the growth of food processing industry, which is, in turn, likely to trigger market growth.

Central & South America is expected to grow at a significant rate owing to the speedy expansion of food & beverage industry in Argentina, Brazil, Peru, and Venezuela. Increasing disposable income, rapid urbanization, and changing eating patterns in the region are expected to lead to the growth of end-use sector, which in turn is expected to drive product demand.

The market in the Middle East & Africa is predicted to denote a CAGR of 4.1% from 2017 to 2025. Food & beverage industry offers lucrative investment opportunities for manufacturers owing to high demand for processed eating items in the region. With the growth of this end-use industry in the region, the product demand is also expected to grow over the forecast period.

Competitive Insights

Cargill, Inc. opened an innovation facility in China in 2016 to manufacture innovative food flavors and products to cater to the changing consumer demand. Such initiatives undertaken by manufacturers for product innovation are expected to open new market avenues for industry growth.

The competitive rivalry is likely to be high with manufacturers entering into strategic partnerships with buyers. However, the threat of new entrants is low owing to high investment and high credibility & visibility of existing manufacturers. As a result, the competition among manufacturers is likely to be low to medium over the forecast period.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2016

Forecast period

2017 - 2025

Market representation

Revenue in USD Million and CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa

Country scope

U.S., Germany, France, China, India, and Brazil

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

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Segments covered in the report

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented global food thickeners market on the basis of product, application, and region:

  • Product Outlook (Revenue, USD Million; 2014 - 2025)

    • Starch

    • Hydrocolloids

    • Protein

  • Application Outlook (Revenue, USD Million; 2014 - 2025)

    • Bakery

    • Dairy

    • Beverages

    • Confectionery

    • Others

  • Regional Outlook (Revenue, USD Million; 2014 - 2025)

    • North America

      • U.S.

    • Europe

      • Germany

      • France

    • Asia Pacific

      • India

      • China

    • Central & South America

      • Brazil

    • Middle East & Africa

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