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Hydrocolloidal Market Big Growth
Rise in demand for processed and convenience foods is a driving force for the incorporation of hydrocolloids in food formulations.
The global hydrocolloidal market is driven by rise in demand for hydrocolloidal from food and beverage industry coupled with rapid development of pharmaceutical and healthcare industries.” - David Correa
WILMINGTON, DELAWARE, UNITED STATES, April 19, 2024 /EINPresswire / -- The global hydrocolloidal market , as per a report by Allied Market Research, generated $10.9 billion in 2022 and is expected to reach $18.7 billion by 2032, with a projected CAGR of 5.6% from 2023 to 2032. The market is primarily driven by the increasing demand for processed and convenience foods, which necessitates the incorporation of hydrocolloids to enhance product stability, texture, and overall quality. However, fluctuations in raw material prices pose a challenge to market growth, although the rise in demand for plant-based and natural ingredients presents growth opportunities.
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The COVID-19 pandemic impacted the hydrocolloidal market with supply chain disruptions, changes in consumer behavior, and shifts in demand across various end-use industries. Despite these challenges, there was increased emphasis on health and wellness, driving innovation and research in hydrocolloidal-based products.
Seaweed-based hydrocolloids, such as agar, carrageenan, and alginate, held the largest share in 2022 and are expected to maintain their lead position due to their versatile applications in food, pharmaceuticals, and biotechnology. Stabilizing agents accounted for the largest share by function in 2022, driven by the need to maintain product quality and shelf life across industries. The food and beverage segment led by contributing the most revenue in 2022 and is anticipated to maintain its dominance, driven by the increasing demand for hydrocolloids in enhancing product quality.
Asia-Pacific emerged as the dominant region in 2022 and is projected to maintain its lead, fueled by rapid industrialization, urbanization, and changing dietary habits, particularly in countries like China and India.
Key players in the hydrocolloidal market include DUPONT, PALSGAARD, BASF SE, ASHLAND INC., CARGILL, INCORPORATED, KONINKLIJKE DSM N.V., ARCHER DANIELS MIDLAND COMPANY, GLANBIA NUTRITIONALS, INC., KERRY GROUP PLC., and JUNGBUNZLAUER SUISSE AG, among others. These players have adopted various strategies such as new product launches, collaborations, and expansions to maintain their market dominance.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
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