Global Thickeners and Vegetable Gums Market Report and Forecast 2023-2028

Global Thickeners and Vegetable Gums Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global thickeners and vegetable gums market reached a value of approximately USD 12.62 billion in 2022. Aided by the escalating demand for processed foods and the thriving food and beverage sector, the market is projected to further grow at a CAGR of 6.10% between 2023 and 2028 to reach a value of USD 18.10 billion by 2028.

Thickeners and vegetable gums, obtained from natural sources such as seeds, seaweed, and tree saps, are commonly incorporated in a multitude of products including baked goods, sauces, beverages, and confectionery. They serve critical functions including enhancing texture, stabilising emulsions, and controlling crystallisation. In addition to their culinary properties, thickeners and vegetable gums also offer significant health benefits, such as aiding digestive health, controlling blood sugar levels, and lowering cholesterol.

The global thickeners and vegetable gums market growth is primarily fuelled by the rising consumer inclination towards processed and convenience foods. With increasing urbanisation and changing lifestyles, the demand for ready-to-eat and processed foods, where thickeners and vegetable gums are crucial ingredients, has seen a significant surge. Additionally, the health and wellness trend sweeping across the global consumer market has led to an enhanced demand for natural and plant-based ingredients, promoting the use of vegetable gums in food formulations.

Moreover, the expanding applications of thickeners and vegetable gums in various sectors is playing a significant role in propelling the thickeners and vegetable gums market development. For instance, in the pharmaceutical industry, these products are utilised as binders, disintegrants, and coating agents in the production of tablets and capsules. The cosmetics industry employs thickeners and vegetable gums for their hydrating and skin-protecting properties, vital in the development of numerous skincare and beauty products.

Further, the evolution of the food and beverage industry towards plant-based and vegan alternatives has steered an increased emphasis on thickeners and vegetable gums as crucial ingredients for these products. Amid the rising trend of veganism and the growing popularity of plant-based diets, thickeners and vegetable gums have surfaced as critical constituents in the creation of vegan cheese, dairy-free yoghurt, and other alternatives, thereby fuelling the thickeners and vegetable gums market expansion.

The emerging trend of clean-label products, where consumers demand transparency about ingredients used in food products, also aids the market growth. Thickeners and vegetable gums, derived from natural sources, align well with the clean-label criteria, driving the thickeners and vegetable gums market demand further.

Market Segmentation

The market can be divided based on type, nature, application, and region.

Market Breakup by Type

• Polysaccharides
• Proteins

Market Breakup by Nature

• Organic
• Conventional

Market Breakup by Application

• Dairy Products
• Sauces and Dressings
• Bakery and Confectionary
• Convenience Food
• Beverages
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global thickeners and vegetable gums companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Medline Industries, LP.
• Ashland Inc.
• Ingredion Incorporated
• Tate and Lyle plc
• Cargill, Incorporated
• CP Kelco U.S., Inc.
• Sinofi Ingredients
• Hosokawa Alpine AG
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.