Global Food Thickeners Market by Source (Animal, Plant), by Application (Bakery, Confectionery), by Type (Protein, Hydrocolloids, Starch) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global food thickeners market was valued at USD 13.1 billion in 2019. It is projected to grow at 6.0% compounded annual growth rate between 2020 and 2027. The growing use of food thickeners in food and beverage applications, as well as rising consumer awareness about health and wellness, is the driving force behind this increase in demand.

Market growth will be positively impacted by factors such as product innovation, consumer preference for high-quality products and government food regulations. The forecast period will see an increase in demand due to favorable government regulations that support the growth of the food and beverage industry.

Numerous governmental agencies and organizations have implemented programs to promote healthy lifestyles. These programs include the introduction innovative products to reduce cholesterol, diabetes, and obesity. This will increase industry demand. The strong growth of the food- and beverage industry combined with a large consumer base is expected to increase the product's consumption over the forecast period. The market will also benefit from rising disposable income and changing lifestyles due to rapid urbanization.

Starch, hydrocolloids and proteins are used in baking, where they are used primarily as thickening, stabilizing and gelling agents. The product will also be in high demand due to increased demand for nutritional foods, ready-to-eat snacks and protein-rich products.

Market growth is expected to be boosted by rising demand for non-alcoholic beverages, such as fruit juices, energy drinks, and other non-alcoholic beverages. This market is highly competitive, with major players like Cargill Inc. and CP Kelco having large production volumes. These big players compete on the basis formulation blends and customization services to cater to a wider consumer base.

Type Insights

In 2019, hydrocolloid was responsible for 41.0% of global revenue. Hydrocolloids are used to thicken food. They include alginate and pectin. Hydrocolloids are stable under low pH, making them fiber rich and a great choice for the food & drink industry.

Hydrocolloids are widely utilized as food additives or thickeners. They are used for example as a sugar substitute for whipped creams & cookies, a wheat flour substitute for cookies, coating material for nuts & dried fish and food stabilizers in whippedcream, bulking agent for ice cream and yogurt and as starch dispersion for rice.

The starch market for food thickeners is estimated to have grown to more than USD3.2 billion in 2019. It will grow at a 5.5% CAGR between 2020 and 2027. Over the forecast period, factors such as stability, high viscosity and low cost will drive starch's use as a food thickener. Product demand will also be driven by the growing demand for gluten-free products.

Tapioca and wheat are the main sources of starch. Because of its low price, availability and ability to add thick base texture to soups and sauces, starch is widely used. It is also very flavorless, even when it is used at a concentration of 2-5 percent. It improves the texture and mouthfeel of soups, gravies, and sauces. These factors will increase the demand for food thickeners over the forecast period.

Source Insights

The market leader in food thickeners made from plant-based ingredients accounted for over 66.0% of global revenue in 2019. Plant-based products are most commonly used in bakery, confectionery and ready-to-eat meals. This can be attributed to their high efficacy as well as competitive pricing. Tapioca starch, tapioca flour, xanthan gum and rice flour are some of the most popular plant-based food thickeners.

Due to the growing trend towards veganism and vegetarianism, food thickeners made from plants are highly sustainable and in high demand by consumers. This is especially true for food products like bakery, confectionery and processed foods. This segment is expected to grow due to the easy availability of raw materials and the increasing popularity of the products among consumers.

In 2019, the animal segment was worth more than USD2.8 billion. It is projected to grow at a 5.8% CAGR during the period 2020-2027. Products derived from animal sources include gelatin, blood albumin and collagen. It is used in many products such as cookies, cakes, and candies as a coagulating agent. It can also be used to clear wine. It can hold up to four times its moisture making it an excellent thickener for sauces and custards.

In cheese making and medicine, blood albumin can be taken from any animal that has been slaughtered. Because of their low cost and low levels of cholesterol, blood proteins can be used to replace eggs. When added to an aqueous solution, thickening agents increase viscosity and do not alter properties like taste, texture, or flavor. They also improve the stability and body of the mixture, as well as improving the suspension of other ingredients.

Application Insights

Bakery accounts for more than 24% of the market for food thickeners. This segment is expected to maintain its dominance during the forecast period. Food thickeners will be driven by factors such as the rising demand for natural and organic baked goods, and the trend towards healthy snacks.

The market for food thickeners is expected to grow due to increasing consumer awareness towards products with traditional and exotic tastes. The combination of rising disposable incomes and changing lifestyles resulting from rapid urbanization has led to a shift towards food consumption, which will in turn drive demand for the market over the forecast period.

To meet changing consumer tastes, manufacturers are expanding their product lines by adding exotic flavors, functional ingredients and organic herbal fillings to their product formulations. These factors will drive confectionery demand and increase the need for confectionery products over the forecast period.

Sauces and dips are made with food thickeners. They give sauces their distinctive creamy texture and flavor. The rise in demand of processed foods products has led to a surge in the demand for sauces, dressings, and other condiments. This should lead to an increase in food thickeners demand over the forecast period.

Regional Insights

North America was the dominant market, with a share exceeding 38.0% in 2019. This is due to the significant demand from different industries in the U.S. and Canada. North America's market is driven mainly by the developed food and beverage industries in the U.S.A. and Canada. There are many multinational food processing and manufacturing companies that benefit the market, which in turn leads to increased demand.

Since recent years, North America has seen an increase in demand for pastries, muffins and cupcakes. Different thickeners are being used by players in the confectionery and bakery industry to bring innovation to their products. The region is also seeing a rise in demand for confectionery and bakery products.

Due to Europe's strong bakery and confectionery industries, as well as the increasing consumer demand, the demand for food thickeners is expected to rise. The market is expected to grow due to rising demand for packaged juices, energy drinks, and other beverages.

Exports from various European food thickener firms include value-added products, including mixtures of thickeners and flavoring ingredients. Exporters tend to be concentrated in Western Europe, while manufacturers are expanding their business in Eastern Europe.

Market Share Insights & Key Companies

Due to the size of the food industry, the industry is highly competitive. Because they can offer customized, cheap products that meet the needs of their customers, major players in the food thickeners market are facing fierce competition from smaller and local players. These players are highly visible in certain areas but face challenges due to irregular demand.

To gain an edge over your competitors, product differentiation is one key strategy. There are many products available in the industry. It is difficult to differentiate products because most of these products are used in the same applications. A few players, such as Ingredion Incorporated and ADM, have managed to achieve product differentiation in this market. The market leader in food thickeners is:

• Cargill, Inc.

• Archer Daniels Midland Company

• DuPont De Nemours, Inc.

• Tate & Lyle PLC

• CP Kelco

• Kerry Inc.

• Ingredion Incorporated

• Ashland

• TIC Gums, Inc.

• FDL Limited

• Naturex S.A.

• Medline Industries, Inc.

• Darling Ingredients Inc.

Up Market Research published a new report titled “Food Thickeners Market research report which is segmented by Source (Animal, Plant), by Application (Bakery, Confectionery), by Type (Protein, Hydrocolloids, Starch), By Players/Companies Medline Industries Inc, CP Kelco, Naturex SA, Ashland, Kerry Inc, Tate & Lyle PLC, FDL Limited, Archer Daniels Midland Company, Darling Ingredients Inc, DuPont De Nemours Inc, TIC Gums Inc, Cargill Inc, Ingredion Incorporated”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Food Thickeners Market Report Segments:

The market is segmented by Source (Animal, Plant), by Application (Bakery, Confectionery), by Type (Protein, Hydrocolloids, Starch).

Food Thickeners Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Food Thickeners Market

Overview of the regional outlook of the Food Thickeners Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Food Thickeners Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Food Thickeners Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Animal

                2. Plant

                1. Bakery

                2. Confectionery

                1. Protein

                2. Hydrocolloids

                3. Starch

9. Market scenario by region, sub-region, and country.
10. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
11. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
12. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Food Thickeners Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Food Thickeners Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.