Market Size of Hydrocolloids Industry
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 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 | |||||||
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Hydrocolloids Market Size Summary
The hydrocolloids market is experiencing a dynamic phase, driven by increasing demand in the food and beverage sector and ongoing research and development innovations. The market faced challenges during the COVID-19 pandemic, particularly in the meat industry, where decreased consumption of gelatin and other hydrocolloids was noted due to health and safety concerns. However, the bakery segment saw a rise in demand despite supply chain disruptions. As lockdowns eased, the demand for bakery products began to recover, contributing to the market's growth trajectory. The North American region, particularly the United States and Canada, is a significant market due to its robust consumption of confectionery, bakery, and packaged food products. The region's focus on healthy eating habits and the demand for low-fat and natural food ingredients are further propelling the market.
Gelatin, a key component of hydrocolloids, is widely used in various food applications, including confectionery, desserts, and meat products, due to its natural protein content and gelling properties. The increasing meat consumption and the demand for convenience foods are expected to drive the market's expansion. Technological advancements and new product launches have broadened the application of hydrocolloids in the food and beverage industry. The market is characterized by fragmentation, with major players like DuPont, Cargill, and Ashland holding a marginal share. Strategic agreements and mergers, such as Ingredion's partnership with Batory Foods and IFF's merger with DuPont's Nutrition & Biosciences, are shaping the competitive landscape. These developments, along with government support, are anticipated to enhance the market's growth prospects in the coming years.
Hydrocolloids Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Growing Demand in the Food and Beverage Industry
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1.1.2 Increased R&D and Innovations in Hydrocolloids
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1.2 Restraints
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1.2.1 Adherence to International Quality Standards and Regulations
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1.2.2 Unfavorable Conditions Arising Due to the COVID-19 Outbreak
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Source
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2.1.1 Natural
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2.1.2 Synthetic
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2.2 Type
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2.2.1 Gelatin
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2.2.2 Carrageenan
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2.2.3 Pectin
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2.2.4 Xanthum Gum
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2.2.5 Guar Gum
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2.2.6 Other Types
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2.3 Function
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2.3.1 Thickener
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2.3.2 Stablizer
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2.3.3 Coating Agent
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2.3.4 Fat Replacer
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2.3.5 Gelling Agent
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2.4 Application
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2.4.1 Bakery and Confectionary
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2.4.2 Meat and Poultry Products
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2.4.3 Beverages
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2.4.4 Sauces and Dressings
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2.4.5 Dairy Products
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2.4.6 Other Applications
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2.5 Geography
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2.5.1 Asia-Pacific
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2.5.1.1 China
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2.5.1.2 India
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2.5.1.3 Japan
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2.5.1.4 South Korea
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2.5.1.5 Rest of Asia-Pacific
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2.5.2 North America
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2.5.2.1 United States
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2.5.2.2 Canada
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2.5.2.3 Mexico
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2.5.3 Europe
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2.5.3.1 Germany
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2.5.3.2 United Kingdom
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2.5.3.3 Italy
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2.5.3.4 France
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2.5.3.5 Rest of Europe
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2.5.4 South America
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2.5.4.1 Brazil
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2.5.4.2 Argentina
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2.5.4.3 Rest of South America
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2.5.5 Middle-East and Africa
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2.5.5.1 Saudi Arabia
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2.5.5.2 South Africa
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2.5.5.3 Rest of Middle-East and Africa
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Hydrocolloids Market Size 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.