May 03, 2018
WELLESLEY, Mass., May 03, 2018– The multifunctionality of hydrocolloids across many industries, the increasing demand for processed foods, and a growing demand for low-fat foods are among key factors driving growth in the global market for hydrocolloids. In a new report, Hydrocolloids: Technologies and Global Markets, BCC Research estimates this market to reach $5.5 billion and $7.0 billion in 2017 and 2022, respectively, indicating a compound annual growth rate of 4.9%.
The hydrocolloids are used in several industries due to their various desirable properties such as coating, gelling, thickening, stabilizing and emulsifying. Although hydrocolloids are primarily used in the food and beverage industry, they are also widely used in the oil drilling and pharmaceutical industries. The application rate of hydrocolloids is high among food processors, but it is projected to grow faster in the pharmaceutical and cosmetics industries. Xanthan is dominating the market in various industries as a thickening agent and stabilizing agent. Growing demand for processed and ready-to-use food and beverage items augments the demand for hydrocolloids across the food and beverage sector.
Companies worldwide are focusing their research and development efforts on technological innovations in order to expand the functionalities, as well as applications, of various types of hydrocolloids in several end-user industries. The demand in the emerging economies for convenience food, especially in the Asia-Pacific region, is likely to represent double-digit growth in the next two to three years due to the increasing number of women in the workforce and increasing per capita income. Demand will also be affected by new product launches by food specialty companies with a greater consideration of health claims.
“When living standards improve and lifestyles change accordingly, eating habits and preferences shift
markedly toward time-saving products such as powders, pills, capsules and beverages as supplements,” the report notes. “Many hydrocolloids are used in these products as coating or stabilizing agents or for improving texture and taste. The health and wellness market has seen particularly significant growth in recent years in both developed and developing markets. Health and wellness are major factors affecting purchase decisions, and retailers in the food and beverage industry, which accounts for a major portion of the hydrocolloid market, are now addressing the health and wellness trend in their products. This movement has been seen in North America, Europe and the Asia-Pacific region.”
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Hydrocolloids: Technologies and Global Markets( AVM131B )
Publish Date: Apr 2018
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