Nearly US$ 4 billion is expected to be spent on the textural food ingredients market in 2021. Through 2027, the market is anticipated to expand at a CAGR of 4.9%, reaching US$ 5.28 Billion.
The increased customer desire for greater texture and taste in food products eaten has led food manufacturers to turn to product innovation in textural food ingredients to appeal to a diverse consumer palate. Future Market Insights has recently published a new report titled “Textural Food Ingredients Market: Global Industry Analysis 2012-2016 and Opportunity Assessment 2017-2027” that studies the global textural food ingredients market over a 10-year assessment period (2017-2027) and provides vital insights into the factors influencing revenue growth in global and regional markets, as well as detailed forecasts based on market segmentation.
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Trends Observed in the Global Textural Food Ingredients Market
The investigation uncovers some intriguing trends in the demand for and consumption of textural food ingredients within the projection period. A surge in multi-texture dining experiences has been observed in the important developing economies. Textural food ingredient innovation has assisted producers in lowering food costs, and the non-GMO hydrocolloid system is becoming more widely used. Developing countries are major opportunity regions for manufacturers operating in the worldwide textural food ingredients market, and there is a growing emphasis on e-commerce and social media to reach a bigger audience. Digital media is quickly developing as a valuable resource for important companies in the worldwide textural food ingredients market.
Global Textural Food Ingredients Market: Segmentation and Forecast
The global textural food ingredients market has been segmented on the basis of Functionality (Emulsifying Agent, Thickening Agent, Stabilising Agent, Gelling Agent, Others); Application (Dairy Products and Frozen Food, Bakery and Confectionery, Sauces, Dressings, and Condiments, Beverages, Snacks and Savoury, Meat and Poultry Products, Pet Food); Type (Hydrocolloids, Starch and Derivatives, Emulsifiers, Others); Form (Concentrate, Powders, Flakes); and Region (North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, MEA).
- Hydrocolloids type segment will remain dominant throughout the forecast period with over 55% market share, followed by Emulsifiers at 29% value share
- Stabilising Agent segment by functionality will lead in terms of market value, estimated to reach a valuation in excess of US$ 7,800 Mn by 2027 end
- By application, the Dairy Products and Frozen Food segment will remain dominant with almost US$ 4,500 Mn in revenues by end 2027 and a CAGR of 5.5%
- The Powder form segment will dominate the global market in terms of value share, estimated to hold more than 45% share of the market by 2027 end
- North America region will dominate the global market for textural food ingredients, with almost 30% value share and revenues in excess of US$ 5,200 Mn by the end of the forecast period in 2027
Global Textural Food Ingredients Market: Vendor Analysis
The report features some of the prominent players operating in the global textural food ingredients market such as Cargill, Incorporated, Kerry Group Plc., Dohler GmbH, Tate & Lyle PLC, Sensient Technologies Corporation, Archer Daniels Midland Company, Koninklijke DSM N.V., Ajinomoto Co., Inc., CHS Inc., Ingredients Inc., C.P. Kelco, Naturex SA, FMC Corporation, Ingredion Incorporated, E. I. du Pont de Nemours and Company, Foodchem International Corporation, Symrise AG, Ashland Global Holdings Inc., Furest Day Lawson Holdings Limited, Lonza Group Ltd. The global textural food ingredients market is highly fragmented; however, the market is more inclined towards technically superior and sophisticated products. Leading market players are targeting the growing economies in the APEJ region, owing to an increasing consumer preference for more variety in texture and taste in food products across various countries in the region.
Global Textural Food Ingredients Market: Taxonomy
By Functionality:
- Emulsifying Agent
- Thickening Agent
- Stabilising Agent
- Gelling Agent
- Others
By Application:
- Dairy Products and Frozen Food
- Bakery and Confectionery
- Sauces, Dressings, and Condiments
- Beverages
- Snacks and Savoury
- Meat and Poultry Products
- Pet Food
By Type:
- Hydrocolloids
- Starch and Derivatives
- Emulsifiers
- Others
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