Categories: Chemicals

Hydrocolloids Market Drivers: Key Drivers, Trends, Growth, and Outlook 2024-2033

The hydrocolloids global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Hydrocolloids Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size –

The hydrocolloids market size has grown strongly in recent years. It will grow from $12.02 billion in 2023 to $13.07 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to rise in demand for functional foods, rise in pharmaceutical sector, growth in demand for personal care products, rise in e-commerce, emerging markets.

The hydrocolloids market size is expected to see strong growth in the next few years. It will grow to $18.09 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to growing demand for processed foods, rising demand for clean label and natural ingredients, rise in online food delivery, global population growth, rise in disposable income. Major trends in the forecast period include texture and mouthfeel enhancement, advanced processing technologies, smart packaging integration, partnership and collaboration.

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Scope Of Hydrocolloids Market

The Business Research Company’s reports encompass a wide range of information, including:

Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
Drivers: Examination of the key factors propelling market growth.
Trends: Identification of emerging trends and patterns shaping the market landscape.
Key Segments: Breakdown of the market into its primary segments and their respective performance.
Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
Macro Economic Factors: Assessment of broader economic elements impacting the market.

Hydrocolloids Market Overview

Market Drivers –

The increase in nutritionally aware consumers is expected to propel the growth of the hydrocolloids market during the forecast period. Consumers are preferring nutritional food as nutrition is critical for a multitude of reasons, including proper psychological well-being, muscle strength, pulmonary ventilation, infection prevention, wound healing, and cardiovascular function. Hydrocolloids are functional food ingredients that have great nutritional benefits and provide an opportunity to tailor nutritional value and offer potential health benefits by controlling gastric emptying and intestine brake mechanisms, glycemic response plasma cholesterol levels, and carbohydrate fermentation in the large intestine. For instance, according to the 2022 Food and Health Survey published by the International Food Information Council, a US-based nonprofit educational organization, in 2022, 52% of Americans say they followed a diet or eating pattern in the previous year, which is a significant increase from the previous few years’ figures of 39% in 2021, 43% in 2020, and 38% in 2019. Consumers under the age of 50 account for the majority of the rise in diets. This year, calorie tracking (13%), clean eating (16%), mindful eating (14%), and plant-based eating (12%) are the most popular diets or eating habits. Therefore, the increase in nutritionally aware consumers drives the growth of the hydrocolloids market.

The hydrocolloids market covered in this report is segmented –

1) By Type: Carrageenan, Guar Gum, Gelatin, Pectin, Microcrystalline Cellulose, Other Types

2) By Function: Thickening, Gelling, Stabilizing, Other Functions

3) By Source: Botanical, Microbial, Animal, Seaweed, Synthetic

4) By Application: Food And Beverage, Pharmaceutical, Personal Care Products, Other Applications

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Regional Insights –

North America was the largest region in the hydrocolloids market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hydrocolloids market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Key Companies –

Major companies operating in the hydrocolloids market include Archer-Daniels-Midland Company, Ashland Global Holdings Inc., Cargill Incorporated, CP Kelco US Inc., Darling Ingredients Inc., DuPont de Nemours Inc., Hispanagar S.A., Ingredion Incorporated, Kerry Group plc, Koninklijke DSM N.V., Aquarev Industries SAS, BASF SE, Fiberstar Inc., FMC Corporation, Jungbunzlauer Suisse AG, Lotus Gums & Chemicals, Palsgaard A/S, Hawkins Watts Limited, J.F. Hydrocolloids Inc., E.I. du Pont de Nemours and Company, Tate & Lyle plc, Gelymar S.A., Gum Technology Corporation, Gums n Gums Limited, KIMICA Corporation, Lucid Colloids Ltd., Nexira, Penford Corporation, Silvateam S.p.A., Taiyo International

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