Food Thickeners Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, UK, Germany, France, Italy, China, Australia, India, Japan, Indonesia, Argentina, Brazil, Saudi Arabia, UAE, Kuwait, South Africa), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024
Report ID: GMI1294
Food Thickeners Market size may show steady gains owing to its strong application scope in processed feed industry along with rise in consumer awareness towards healthy diet. It is mainly used to thicken soups & sauces and desserts including puddings.
Global starch consumption may reach 150 million tons by 2024. Positive application outlook in pharmaceutical, textile, paper, and beverages industries may favor industry growth. Modified starch products are used as thickening agent, emulsifier, and stabilizer for manufacturing biscuits, bakery, noodles, and confectionery products. China and the U.S. are the largest starch suppliers. Favorable government regulations regarding starch consumption may support food thickeners market size.
Xanthan Gum Market size was over USD 740 million in 2015, and expects gains at of 6%. Global xanthan gum market size was valued at over USD 745 million in 2015, with gains at over 6%. Change in consumer lifestyle in China, India, Brazil, and Russia has increased ready-to-eat (RTE) meals demand, which may drive industry growth. It is also used in cosmetic products in manufacturing various personal care and skin care products may enhance product demand. Favorable regulations by FDA and USDA regarding usage of xanthan gum in medicine and bakery products may stimulate food thickeners market size. Xanthan gum is used as food thickening agents mainly in salad dressings
Global gelatin market may generate over 413 kilo tons in 2015 owing to its excellent binding properties in pharmaceutical industry. Increase in convenience food demand in China and India should drive industry growth. Gelatin food thickeners market may witness steady growth over the forecast timeframe.
Global bakery market size may register close to 6% growth over the forecast timeframe. Increasing functional ingredients bakery products along with rise in cakes and pastries consumption mainly in the U.S. should food thickeners industry growth. Global bakery products market size may exceed USD 490 billion by 2024. Increase in bread and baked good consumption may stimulate food thickeners market growth.
Global confectionery market size may register over USD 185 billion in 2015 and is projected to reach USD 235 billion by 2024, with gains at over 3.5%. It includes chocolates, candies, and other sugar products. Increase in obesity rate and diabetic patients owing to rise in confectionery consumption may hinder industry growth
Global frozen food market size may reach over USD 25 billion by 2024, with gains at over 8%. The market is driven mainly by the usage of food thickeners such as starch, hydrocolloids and proteins for enhancing flavor, giving textures to products.
North America, driven by Canada and the U.S. food thickeners market size, may witness significant gains owing to increase in protein, starch, and hydrocolloids consumption should favor regional industry growth.
Asia Pacific, led by Japan, India, South Korea, and China food thickeners market size, should register significant growth over the forecast timeframe. Most of the manufacturing companies are focusing on product development along with rise in health consciousness may favor regional growth. Japan bakery market size may exceed USD 30 billion by 2014 owing to cereals, baked goods, and biscuit consumption along with growing health awareness may drive food thickeners market growth.
Europe, driven by UK, France, Italy, and Germany food thickeners market size may grow steadily over the foreseeable timeframe. Favorable government regulations regarding certain feed additives may support regional growth.
Fluctuating hydrocolloids price along with high manufacturing costs may hinder industry profitability and affect food thickeners market price trend.
Global food thickeners market share is moderately consolidated. Key market players include Cargill, DuPont, ADM, Kerry Group and Ingredion Corporation. Other prominent companies include Tate & Lyle, Darling Ingredients, Fuerst Day Lawson, CP Kelco, Ashland Specialty Ingredients, and TIC Gums.
Most of the manufacturing companies are focusing on enhancing product portfolio and expand regional business. DuPont produces Grindsted xanthan which is used as an ingredient which is used as thickening and suspending agent in savory dressings, bakery, beverages, and dairy products.
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