By 2021, the market for plant-based thickeners is projected to be worth US$ 3.3 billion, growing at a CAGR of 8.8% between 2022 and 2032. In 2032, the market for plant-based thickeners is projected to be worth US$ 7.6 billion.
The growing use of functional food ingredients and rising demand for vegan food products is expected to fuel sales in the market. Further, as the consumption of plant-based supplements rises, the demand in the market is predicted to surge.
Regionally, North America and Europe are likely to drive growth in the plant-based thickener market. The region’s rise is being driven by the expanding vegan trend in the United States and the United Kingdom. Furthermore, rising sales of plant-based food products and a growing aversion to animal-based products will drive market demand.
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Key Takeaways from Market Study
- North America is expected to contribute nearly 38% of sales in the plant based thickener market share.
- The U.S. is expected to hold 65% of revenue in the North America plant based thickener market.
- Germany plant based thickener market holds 22% of share in European market.
- Asia is expected to contribute nearly 20% of sales in the plant based thickener market.
- China holds 32% of sales in the Asia Pacific plant based thickener market over the forecast period.
“Plant-based thickener market players are likely to capitalize on growing demand for vegan food products, especially in Asia and North America. Hence, these companies are focusing on expanding their manufacturing capacities to gain revenue.”, –says a lead analyst at Future Market Insights.
Competitive Landscape
Plant Based Thickener have a strongly competitive global market. Introducing new product variations, acquiring smaller market competitors, and raising awareness about the advantages of plant-based thickeners through different promotional activities and programmes are some of the main drivers driving market expansion in the near future.
Some of the leading companies offering Emsland Starke GmbH, Tate & Lyle, Cargill, Ingredion, Novidon, Sudstarke GmbH, Avebe, Agrana, Tereos are the major players in the market.
Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of the Plant Based Thickener presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
The study divulges compelling insights on the Plant Based Thickener Market by Type (Organic, Conventional), By Type (Baked Goods, Jams & Marmalades, Yogurt, Cheese Cream, Seasoning, Canned Soups & Sauces), and across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, APEJ, and MEA).
Plant Based Thickener Market by Category
By Type:
- Organic
- Conventional
By Application:
- Jams & Marmalades
- Baked Goods
- Yogurt
- Seasoning
- Cheese Cream
- Canned Soups & Sauces
By Region:
- North America
- Latin America
- Europe
- Middle east and Africa
- East Asia
- South Asia
- Oceania
Frequently Asked Questions
- How Big is the Plant Based Thickener Market?
- What is the North America Plant Based Thickener Market Outlook?
- At What Rate Will Plant Based Thickener Demand Grow in Europe?
- What Are the Key Trends Shaping the Plant Based Thickener Market?
- At What Rate Will Plant Based Thickener Demand Grow in China?
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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