Hydrocolloids Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.00 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Hydrocolloids Market Analysis
The hydrocolloids market is projected to register a CAGR of over 6% during the forecast period (2021-2026).
Plants that process meat has become a hotspot for COVID-19 infections, bringing attention to the health and safety of traditional meat and resulting in decreased meat consumption. In 2020, the CDC (Centers for Disease Control and Prevention) received data on COVID-19 cases from 19 of the 23 states that had reported at least one case related to this industry. There were 115 meat or poultry processing facilities with COVID-19 cases, with 4,913 workers diagnosed, resulting in decreased demand and consumption of gelatin and other hydrocolloids in the meat industry. The sales of bakery products were above average, even though the bakery supply was insufficient, as many bakeries had to close due to labor shortages. The disruption in logistics facilities and scarcity of raw materials due to the lockdown caused additional issues in the market. Due to these factors, the hydrocolloids market was negatively impacted by COVID-19. However, with governments easing the lockdown regulations, the demand for bakery products is increasing.
- Over the medium term, the major factors driving the market are likely to be the growing demand for hydrocolloids in the food and beverage industry and increased R&D and innovations in hydrocolloids.
- On the flipside, unfavorable conditions arising from the COVID-19 outbreak and adherence to international quality and standards are the major restraints hindering the market's growth.
- The North American region dominated the market worldwide, with the largest consumption from countries, such as the United States and Canada.
Hydrocolloids Market Trends
This section covers the major market trends shaping the Hydrocolloids Market according to our research experts:
Increasing Demand from the Gelatin Segment
- Gelatin is a natural ingredient and does not need any chemical modification. It is widely used in health supplements due to its high natural protein content and amino acids.
- Gelatin is extracted from animals, like cows, pigs, and fish, and it has major applications in the confectionery sector for imparting texture.
- Gelatin is used as a gelling agent in emulsifiers. It also finds application as a stabilizer in food products, like candies, desserts, marshmallows, and ice creams.
- It is also used in meat products for water binding. According to the Food and Agriculture Organisation, Asia produced around 136.06 million metric ton of meat in 2019. Also, the growth in meat consumption is projected to increase to 12% by 2029 worldwide, thus increasing the demand for gelatin.
- Gelatin also finds applications in instant sauces & soups and jelly products for fat reduction, creaminess, mouthfeel, and intense taste experience.
- The revenue of the bread and bakery products segment was estimated at USD 487,108 million in 2020. It is further expected to register a CAGR of over 3%, which may increase the demand for gelatin, and consequently hydrocolloids, and propel the market's growth during the forecast period.
- Due to these factors, the hydrocolloids market is expected to grow rapidly over the forecast period.
North America Region to Dominate the Market
- The North American region is expected to dominate the hydrocolloid market during the forecast period. In the United States and Canada, owing to the major market for confectionery, bakery, convenience food, and packaged food products, the demand for hydrocolloids has been increasing.
- The rising demand for convenience and functional food is expected to stimulate the demand for hydrocolloids. The function of hydrocolloids as stabilizers in the bakery industry is expected to drive the demand for food hydrocolloids during the forecast period.
- In the United States, the increased awareness among consumers about healthy food and eating habits propelled the demand for low-fat and low-calorie food, which boosted the growth of the hydrocolloids market in the region.
- The increasing rate of obesity and cardiac diseases in the region boosted the demand for calorie-free, cholesterol-free, chemical-free, and natural food ingredients, like hydrocolloids, among consumers, which is projected to drive the hydrocolloid market during the forecast period.
- Technological advancements and new product launches have made hydrocolloids available for a wide range of applications in the food and beverage industry. The North American food hydrocolloids market is expected to register a CAGR of above 5% during the forecast period.
- The growth in the US confectionery industry is projected to drive the hydrocolloid market during the forecast period. Revenue from the confectionery segment in 2020 was USD 76,594 million. It is projected to register a CAGR of around 2% during the forecast period. According To The American Bakers Association, as of 2020, the US baking industry had an economic impact of about USD 154.2 billion on the economy.
- Some major companies dominating the region are Ashland, CP Kelco U.S. Inc., and Cargill Incorporated.
- These factors, coupled with government support, are likely to boost the demand for hydrocolloids in the region during the forecast period.
Hydrocolloids Industry Overview
The hydrocolloids market is fragmented, with top players accounting for a marginal share of the market. Major companies in the market include DuPont, Cargill, Incorporated, CP Kelco U.S., Inc., DSM, and Ashland.
Hydrocolloids Market Leaders
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DuPont
-
DSM
-
Ashland
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Cargill Incorporated
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CP Kelco U.S. Inc.
*Disclaimer: Major Players sorted in no particular order
Hydrocolloids Market News
- In September 2021, Ingredion signed a new strategic distribution agreement with Batory Foods that consolidates Ingredion's reach in the west and central midwest in the United States.
- In February 2021, IFF completed the merger with DuPont's Nutrition & Biosciences ('N&B') business. The joint venture company will operate under the name IFF.
- In September 2020, W Hydrocolloids Inc. ('WHI'), a pioneer in the Philippine seaweed industry and a major carrageenan supplier from the Philippines, acquired Cargill's stake of the joint venture in Philippine Bio-Industries Inc. ('PBI').
Hydrocolloids Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
-
4.1 Drivers
- 4.1.1 Growing Demand in the Food and Beverage Industry
- 4.1.2 Increased R&D and Innovations in Hydrocolloids
-
4.2 Restraints
- 4.2.1 Adherence to International Quality Standards and Regulations
- 4.2.2 Unfavorable Conditions Arising Due to the COVID-19 Outbreak
- 4.3 Industry Value Chain Analysis
-
4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION
-
5.1 Source
- 5.1.1 Natural
- 5.1.2 Synthetic
-
5.2 Type
- 5.2.1 Gelatin
- 5.2.2 Carrageenan
- 5.2.3 Pectin
- 5.2.4 Xanthum Gum
- 5.2.5 Guar Gum
- 5.2.6 Other Types
-
5.3 Function
- 5.3.1 Thickener
- 5.3.2 Stablizer
- 5.3.3 Coating Agent
- 5.3.4 Fat Replacer
- 5.3.5 Gelling Agent
-
5.4 Application
- 5.4.1 Bakery and Confectionary
- 5.4.2 Meat and Poultry Products
- 5.4.3 Beverages
- 5.4.4 Sauces and Dressings
- 5.4.5 Dairy Products
- 5.4.6 Other Applications
-
5.5 Geography
- 5.5.1 Asia-Pacific
- 5.5.1.1 China
- 5.5.1.2 India
- 5.5.1.3 Japan
- 5.5.1.4 South Korea
- 5.5.1.5 Rest of Asia-Pacific
- 5.5.2 North America
- 5.5.2.1 United States
- 5.5.2.2 Canada
- 5.5.2.3 Mexico
- 5.5.3 Europe
- 5.5.3.1 Germany
- 5.5.3.2 United Kingdom
- 5.5.3.3 Italy
- 5.5.3.4 France
- 5.5.3.5 Rest of Europe
- 5.5.4 South America
- 5.5.4.1 Brazil
- 5.5.4.2 Argentina
- 5.5.4.3 Rest of South America
- 5.5.5 Middle-East and Africa
- 5.5.5.1 Saudi Arabia
- 5.5.5.2 South Africa
- 5.5.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
-
6.4 Company Profiles
- 6.4.1 ADM
- 6.4.2 AGARMEX SA DE CV
- 6.4.3 Ashland
- 6.4.4 B. Braun Melsungen AG
- 6.4.5 Cargill Incorporated
- 6.4.6 CP Kelco U.S. Inc.
- 6.4.7 Dupont
- 6.4.8 DSM
- 6.4.9 Ingredion Incorporated
- 6.4.10 J.F. Hydrocolloids Inc.
- 6.4.11 NOREVO
- 6.4.12 Tate & Lyle
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Increasing Demand for Processed and Convenience Food Products
- 7.2 Other Opportunities
Hydrocolloids Industry Segmentation
The hydrocolloids market is segmented by source, function, application, and geography. By source, the market is segmented into natural and synthetic. By type, the market is segmented into gelatin, carrageenan, pectin, xanthan gum, guar gum, and other types. By function, the market is segmented into thickener, stabilizer, coating agent, fat replacer, and gelling agent. By application, the market is segmented into bakery and confectionery, meat and poultry products, beverages, sauces and dressings, dairy products, and other applications. The report also covers the market size and forecast for the hydrocolloids market in 15 countries across major regions. For each segment, the market sizing and forecast have been done based on revenue (USD million).
| Source | Natural | |
| Synthetic | ||
| Type | Gelatin | |
| Carrageenan | ||
| Pectin | ||
| Xanthum Gum | ||
| Guar Gum | ||
| Other Types | ||
| Function | Thickener | |
| Stablizer | ||
| Coating Agent | ||
| Fat Replacer | ||
| Gelling Agent | ||
| Application | Bakery and Confectionary | |
| Meat and Poultry Products | ||
| Beverages | ||
| Sauces and Dressings | ||
| Dairy Products | ||
| Other Applications | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| Italy | ||
| France | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East and Africa |
Hydrocolloids Market Research FAQs
What is the current Hydrocolloids Market size?
The Hydrocolloids Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Hydrocolloids Market?
DuPont, DSM, Ashland, Cargill Incorporated and CP Kelco U.S. Inc. are the major companies operating in the Hydrocolloids Market.
Which is the fastest growing region in Hydrocolloids Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Hydrocolloids Market?
In 2024, the North America accounts for the largest market share in Hydrocolloids Market.
What years does this Hydrocolloids Market cover?
The report covers the Hydrocolloids Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Hydrocolloids Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
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