Gum Hydrocolloid Market size is forecast to reach $11.5 billion by 2025, growing at a CAGR of 5.1% during the forecast period 2020-2025. Hydrocolloid Gums are hydrophilic polymers of vegetable, animal, synthetic origin that generally contain many hydroxyl groups and are generally added to food stuffs to control their functional properties such as thickening and gelling. Increase in the consumption of hydrocolloids based products, growing demand for cosmetics and personal care are the major factors which are estimated to enhance the growth of Gum Hydrocolloid Market during the forecast period 2020-2025.
Function- Segment Analysis
Based on the Function, the Thickening segment held the largest share in 2019 owing to the factors such as ability to modify the rheology of food system, growing consumer preference towards ready to eat products, and mechanical solid property. Gelling segment is estimated to be the fastest growing segment with a CAGR of 5.77% during the forecast period 2020-2025.The growth in this segment is owing to the factors such as ability to form a rigid structure that is resistant to flow, textural properties and increasing demand for jam, gelled deserts, cakes and candies.
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Based on the Application, the Food and Beverages segment held the largest share in 2019 owing to the factors such as inclination towards taste, sedentary lifestyle and multi-functional property of the gum colloid. Confectionery segment is estimated to be the fastest growing segment owing to the factors such as growing preference towards organic and low-calorie food, enabling mouth feel and more young population inclination towards convenience.
Based on the Geography, the North America held the largest share in 2019 with a market share of 41.6% in 2019 of the overall market shares. The growth in this segment is owing to the factors such as product innovations, advancements in technology, investment of major companies in the developed countries. Asia-Pacific is estimated to be the fastest growing segment owing to the factors such as growth in the preference of low-calorie food products, more young population and growing demand for convenience foods.
Drivers- Gum Hydrocolloid Market
Advancements in technology and new product launches
The technological advancements made easier for the companies to increase their production and also to invest in product innovations. New products are introduced into the market according to the need and taste of the customers and are made easily available to the customers through technology which is estimated to enhance the growth of Gum Hydrocolloid Market
Rapid growth in the consumption of food and beverages owing to sedentary lifestyle
There is a rapid growth in the consumption of food and beverages owing to the sedentary lifestyle of young population and growing preference towards taste. Introduction of organic and low-calorie food is said to further enhance the growth of Gum Hydrocolloid Market.
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Challenges- Gum Hydrocolloid Market
International regulations and growing consciousness towards health
The implementation of regulations such as improvements in infrastructure, pricing policy, environment protection is said to impact the growth of Gum Hydrocolloid Market. Growing consciousness towards health is also estimated to hamper the growth of Gum Hydrocolloid Market. However, companies started launching organic and low-calorie foods which balances the growth of Gum Hydrocolloid Market.
Gum Hydrocolloid-Industry Outlook
Product launches, mergers and acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Gum Hydrocolloid Market. In 2019, Gum Hydrocolloid Market share is consolidated by the top ten players present in the market. Gum Hydrocolloid top 10 companies are Cargill Inc, Kerry Group LLC, Archer Daniels Midland (ADM), Cyber Celloids Ltd, Sure Care Corporation, DuPont, Royal DSM, Ingredion Incorporated, Danisco, Darling Ingredients Inc among others.
In 2018, Ingredion Incorporated made an investment of 60 million USD to expand its business in the Asia-Pacific region.
In 2017, Cargill Inc launched the Satiagel ADG 0220 Seabird, a new type of carrageenan extract, which is derived from cultivated seaweeds that enables premium-texturing solutions.
North America dominated the Gum Hydrocolloid Market in 2019 owing to the advancements in technology, sedentary life style and increasing companies investment in the developed countries.
The increase in the technology and growing consciousness towards organic and low-calorie food is likely to aid in the market growth of Gum Hydrocolloid Market.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Gum Hydrocolloid Market report.
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B. Hydrocolloids Market
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