By 2033, the food thickening agents market could be worth more than US$ 3.93 billion, compared to US$ 2.70 billion in 2023, according to FMI’s estimations. The market will probably show a moderate CAGR of 4% over this evaluation period.
Due to client demand for healthful and delightful ingredients, the food and beverage industry has been undergoing an innovation period. Companies have been motivated to improve the attractiveness of their goods by the convergence of technology and the food and beverage sector. They also intend to provide high-quality, competitively cost solutions.
Increased consumer awareness of contemporary culinary goods, convenient accessibility, and rapidly changing lifestyles are driving the food thickening agents market. Increased consumption of processed foods, rising consumer awareness of the importance of a healthy diet, and stronger governmental food laws are expected to emerge as important factors driving consumption during the projection period.
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The food and beverage sectors have been quite supportive of the clean-labeling movement. Businesses are focusing on creating clean-label products for the market as a consequence. Therefore, the demand for food-thickening agents derived from organic resources, such as plants and seaweeds, has increased.
The rising demand for food-thickening agents from the obese and diabetic populations is another key reason for their rising popularity. Since people now consider their health to be a primary concern, there has been a discernible movement in consumer preference away from items that include fat.
Given their ability to substitute calories with fat, thickening agents like starches and gums are becoming extremely prevalent as fat alternatives. This has increased consumer appetite for these products and has had an impact on this market in particular.
Food thickening agents were initially used as a crucial component in the bakery sector. There is a strong demand for bread and other bakery items worldwide that mandates the application of thickeners during manufacturing. The market is moving forward as a result of these key aspects.
Key Takeaways
- The market in the United Kingdom is anticipated to exhibit a CAGR of 6.3% through 2033.
- The United States dominated the market in 2022 holding a 14.2% share of the global market.
- Registering a CAGR of 31.4% over the forecast period, the market in India is predicted to develop rapidly.
- The market in China is expected to proliferate significantly, registering a CAGR of 5.5% over the forecast period.
- Germany accounted for 5.8% of the global market in 2022.
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Competitive Landscape
Manufacturers in the food thickening agents market are putting great emphasis on research and development activities to provide novel and sustainable solutions. In order to meet customer expectations for clean label, natural, and plant-based solutions, they are also investing in innovative technologies and formulations. They aim to enhance the functionality and performance of food thickening agents. Manufacturers are also concentrating on delivering personalized solutions for wide-ranging food applications. Additionally, to increase their market presence and adapt to changing customer tastes, they are constantly investigating strategic alliances and collaborations.
According to the market research Cargill Inc., Ingredion Incorporated., Archer Daniels Midland Company, Kerry Group plc, DuPont de Nemours Inc., Tate & Lyle PLC, TIC Gums, Inc., CP Kelco, Medline Industries Inc., Fuerst Day Lawson Limited, are among the key players in the food thickening agents market.
Recent Developments
- In January 2021, Tate & Lyle added more tapioca-based starches to their lineup. The extension includes the recent thickening starches REZISTA MAX and gelling starches BRIOGEL. This has helped the business grow its line of products.
In November 2020, Ingredion Incorporated obtained Verdient Foods Inc. With the support of this takeover, the business turns more capable of improving its overall sales, expanding its manufacturing capacity, and collaborating with other companies to fulfill the growing demand for plant-based food thickeners.
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Key Segments Covered in the Food thickening agents market
By Source:
- Plant
- Guar Gum
- Gum Arabic
- Locust Bean Gum
- Pectin
- Starches
- Other Plant Sources
- Seaweed
- Carrageenan
- Agar
- Alginate
- Microbial
- Gellan Gum
- Curdlan
- Xanthan Gum
- Animal (Gelatine)
- Synthetic
- Carboxy Methyl Cellulose
- Methyl Cellulose
By Application:
- Bakery & Confectionery
- Meat & Poultry
- Sauces & Dressings
- Beverages
- Dairy Products
- Other Applications
By Region:
- North America
- Western Europe
- Eastern Europe
- Latin America
- Asia Pacific excluding Japan
- Japan
- Middle East & Africa
About Future Market Insights (FMI)
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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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