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Food Binders Market Size
- Report ID: GMI3246
- Published Date: Apr 2019
- Report Format: PDF
Food Binders Market Size
Food Binders Market size exceeded USD 1.2 billion in 2018 and the annual demand is projected to surpass 200 kilo tons by 2025. Growing demand of packaged and ready to eat edible products due to increasing disposable incomes and changing lifestyle will fortify binding agents’ utilization in food & beverage industry.
The food binders industry is impacted by the pandemic as its demand decreased significantly in the first two quarters of 2020. This is owing to closing of bakeries, fast food restaurants, and hotels, which has restricted the food binders demand. Lockdown had temporarily halted the retail stores business where mostly these products are bought, in turn, declining the industry demand. Moreover, disruption in raw materials supply has also impacted the sales of food products. Trade restrictions in countries have further impacted the import and export of food binders. Rising health concerns, changing lifestyle and decreasing per capita income is expected to decrease the demand for processed and packaged food post COVID. This factor will have a considerate impact on food binders market growth over the next few years
| Report Attribute | Details |
|---|---|
| Base Year: | 2018 |
| Food Binders Market Size in 2018: | 1.2 Billion (USD) |
| Forecast Period: | 2019 to 2025 |
| Forecast Period 2019 to 2025 CAGR: | 5% |
| 2025 Value Projection: | 1.9 Billion (USD) |
| Historical Data for: | 2014 to 2018 |
| No. of Pages: | 350 |
| Tables, Charts & Figures: | 500 |
| Segments covered: | Source, Application and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Food binders will grow significantly owing to their cohesive nature are added to sports supplements and liquid formulations. Binding agents help to hold together tablet constituents and liquid formulations. Athletes are the major consumers of sports supplements. Global sports supplements market is expected to witness substantial CAGR of over 8% through 2025. Increase in number of fitness centres and health clubs owing to growing health awareness will positively impact nutraceutical industry which will further boost the global market outlook.
Gums including xanthan gum and agar are added to sauces & dressing owing to their adhesive properties. The product also helps to achieve required consistency in sauces & dressings. Global mayonnaise business is expected to witness over 4% CAGR through 2023. Growing consumption of fast food will foster mayonnaise utilization which will boost the industry landscape.
Xanthan gums are utilized as a baking ingredient in gluten free products to provide gluten properties in them. The product provides slippery environment in human’s gut which kills healthy bacteria present in the gut. These factors lead to irritable bowel syndrome and other autoimmune diseases. Negative health effects of these gums may hamper industry profitability and food binders market price trends.
Food Binders Market Scope
