(MENAFN- GlobeNewsWire - Nasdaq) The global food thickeners market size is anticipated to grow from USD 14.08 billion to USD 25.70 billion in 10 years. The market will experience rapid growth due to the rising demand for bakery and confectionary products during the forecast period.Newark, Sept. 12, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 14.08 billion in 2023 global food thickeners market will reach USD 25.70 billion in 2033. Food thickeners are substances used to modify the consistency and texture of food and beverages, improving their thickness by absorbing water content and integrating it uniformly with the products. These thickeners are primarily employed to increase viscosity, stabilize emulsions, and prevent ingredient separation, ensuring a consistent texture throughout the food product. Commonly used food thickeners include starches, hydrocolloids, and proteins, which are widely utilized in various applications such as convenience foods, frozen desserts, beverages, dairy products, baked goods, confectionery, sauces, dressings, marinades, and gravies.
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The demand for food thickeners is driven by changing consumer preferences towards high-quality products, ongoing product innovations, and stringent government regulations related to food safety. Favourable government policies promoting the growth of the food and beverage industry are expected to further boost the demand for food thickeners. In the baking industry, thickeners such as hydrocolloids, starch, and proteins are commonly used as stabilizing, thickening, and gelling agents. The rising demand for protein-rich products, ready-to-eat snacks, and nutritional foods is also contributing to the growth of the food thickeners market.
Additionally, the increasing consumption of non-alcoholic beverages like energy drinks and fruit juices is expected to create growth opportunities for the market in the coming years.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $ 14.08 Billion |
| Market Size in 2033 | $ 25.70 Billion |
| CAGR | 6.2% |
| No. of Pages in Report | 234 |
| Segments Covered | Type, Source, Application |
| Drivers | Rising demand for bakery and confectionary products |
| Opportunity | Numerous health benefits |
| Restraints | Fluctuating prices |
Key Insight of the Global Food thickeners Market
North America will dominate the market during the forecast period.
North America dominated the global food thickeners market in 2023, holding a 35.7% revenue share. The region's stringent food safety standards and effective implementation of food regulations have significantly contributed to market growth. The increasing awareness among food manufacturers about the benefits of food thickeners, coupled with the rising demand for bakery products like muffins, pastries, and cupcakes, is driving the market in North America.
In 2023, the hydrocolloids segment dominated the market with the largest market share of 41% and revenue of 5.77 billion.
The type segment is divided into protein, starch, and hydrocolloids. In 2023, the hydrocolloids segment dominated the market with the largest market share of 41% and revenue of 5.77 billion.
Over the forecast period, the plant segment is expected to grow at the fastest CAGR of 6.3%.
The source segment is divided into animal, plant, and microbial. Over the forecast period, the plant segment is expected to grow at the fastest CAGR of 6.3%.
In 2023, the bakery segment dominated the market with the largest market share of 20.8% and revenue of 2.92 billion.
The application segment is divided into bakery, confectionery, sauces & dips, beverages, convenience & processed food, and others. In 2023, the bakery segment dominated the market with the largest market share of 20.8% and revenue of 2.92 billion.
Advancement in market
A food and beverage thickening called ThickenUp Clear was introduced by Nestlé India to assist patients who have trouble swallowing, particularly those who suffer from oropharyngeal dysphagia. It can be given to patients who have dysphagia, a clinical term for difficulty swallowing brought on by illnesses like head and neck cancer, stroke, and Parkinson's disease, among others. Dysphagia is a serious but underreported illness that causes dehydration, infections brought on by malnutrition, and a reduced standard of living. Clinical research has shown that ThickenUp Clear enhances swallowing efficacy and safety. The product is made solely for Nestlé Health Science in Osthofen, Germany, using a special technology and scientific design. It is free of taste, colour, odour, and amylase and is based on xanthan gum.
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Market Dynamics
Driver: The growing demand for bakery and confectionery products.
The growing demand for bakery and confectionery products is a major driver of the food thickeners market. For instance, agar, a thickening agent commonly used in the bakery industry, is gaining prominence for its ability to withstand high temperatures, making it ideal for use in icings, pie fillings, and meringues. Its use in confectionery products, particularly in high-sugar items like fruit candies, is also contributing to market growth. The tasteless nature of agar ensures it does not alter the flavour of the food, making it highly desirable in the bakery and confectionery industries.
Restraints: The fluctuating prices of food thickeners.
The fluctuating prices of food thickeners present a challenge to market growth. The cost of thickeners varies widely, with liquid xanthan gum-based gel thickeners being more expensive than their powdered counterparts. Despite their higher price, liquid xanthan gum-based gels offer superior performance in thickening liquids, but the price disparity could limit market expansion.
Opportunities: The rising demand for eco-friendly and health-conscious products.
The rising demand for eco-friendly and health-conscious products presents significant opportunities for the food thickeners market. Government initiatives promoting healthy lifestyles and the introduction of innovative products aimed at reducing obesity, diabetes, and cholesterol levels are expected to drive market growth.
Challenges: The food thickeners market is highly competitive.
The food thickeners market is highly competitive, with major industry players facing intense competition from smaller, local manufacturers who offer cheaper, customized products. The irregular demand for food thickeners further complicates the market dynamics, posing challenges to both large and small market participants.
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Some of the major players operating in the global food thickeners market are:
. Archer Daniels Midland Company
. DuPont De Nemours, Inc.
. Ingredion Incorporated
. Medline Industries, Inc.
. Darling Ingredients Inc.
. TIC Gums, Inc.
. Tate & Lyle PLC
. Cargill, Inc.
. Kerry Inc.
. Ashland
Key Segments covered in the market:
By Type
● Protein
● Starch
● Hydrocolloids
By Source
● Animal
● Plant
● Microbial
By Application
● Bakery
● Confectionery
● Sauces & Dips
● Beverages
● Convenience & Processed Food
● Others
By Region
. North America (U.S., Canada, Mexico)
. Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
. Asia-Pacific (China, Japan, India, Rest of APAC)
. South America (Brazil and the Rest of South America)
. The Middle East and Africa (UAE, South Africa, Rest of MEA)
About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
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