The global food thickeners market is expected to reach USD 18.9 billion by 2025, according to a new report by Grand View Research, Inc. Growing demand for flavored beverages and carbonated drinks is expected to propel growth over the forecast period.
Major players in the industry are the global conglomerates with high production volume and wide regional presence. CP Kelco, DuPont, and ADM are some of the key players involved in manufacturing food thickeners. These companies compete on the basis of price and product quality, thereby triggering competitive rivalry.
Starch and its derivatives are widely preferred owing to their low cost, wide availability, and high-shelf life properties. Hydrocolloids such as pectin and various types of gums are used as thickeners owing to their gelling, thickening, and superior stability properties. However, the high cost of hydrocolloids is expected to hamper their growth.
Manufacturers in the industry stock raw materials to avoid supply shortages and eliminate third-party intermediaries. Manufacturers also emphasize on product innovation in spite of challenges such as discrepancies in the supply chain and raw material price volatility, which accounts for a major share of the overall production cost.
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Further key findings from the report suggest:
Starch segment dominated the industry and accounted for over 40% of the overall demand in 2016, owing to low cost, easy availability, and high-shelf life of the product
High demand for proteins owing to various health benefits such as muscle building, healthy aging, and weight loss is expected to drive the demand for dairy products, which is in turn likely to augment the demand
The industry in Europe was valued at USD 3.32 billion in 2016 and is projected to denote a CAGR of 6.0% from 2017 to 2025 owing to the robust food & beverage industry and changing culinary taste preferences of consumers in the region
Food thickeners industry in China is projected to register a CAGR of 7.7% from 2017 to 2025 owing to high demand for dairy, sauces, and baby food products
The U.S. accounted for over 70% of the North American market owing to the presence of several food manufacturing companies such as Kellogg Co., Tyson Foods, Inc. and The Kraft Heinz Company
The key players in the industry including Cargill Inc., Archer Daniels Midland Company, DuPont, and CP Kelco accounted for 70% of the overall revenue share
Grand View Research has segmented food thickeners market on the basis of product, application, and region:
Product Outlook (Revenue, USD Million; 2014 - 2025)
Application Outlook (Revenue, USD Million; 2014 - 2025)
Regional Outlook (Revenue, USD Million; 2014 - 2025)
Central and South America
Middle East and Africa
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