Global Food Thickeners Market Analysis 2022
The Global Food Thickeners Market is expected to reach $22.80 billion by 2028 growing at a CAGR of 6.3% from 2021 to 2028. Food thickening agents are generally a group of polysaccharides or proteins which structure in a linear way to form thickening agents which includes starch, hydrocolloids and proteins. They are used to increase the thickness of food & beverages, helping absorb the water content in the edibles once they are integrated into the products. These thickeners increase consistency and stability of dietary products when it meets water, improves water retention levels is also processed without changing its other properties including taste and texture.
Factors such as abundant supply of food thickeners, low cost of the product, and multi functionality are driving the growth of the market. However, fluctuations in the prices of raw material, possible health concerns, and high R&D costs are restraining the growth of the market.
Based on source, the plant segment is going to have a lucrative growth during the forecast period which can be attributed to its increasing popularity in most applications such as ready to eat meals, bakery, confectionery, among others, which can be ascribed to their high efficacy and competitive pricing. Some of the widely used plant-based food thickeners include cornstarch, gum, rice flour, pectin, tapioca, agar, and xanthan. Food thickeners derived from plants are sustainable and highly in demand from consumers owing to the rising trend of veganism and vegetarian diets, especially in food products such as processed food, bakery, and confectionery. The easy availability of raw materials for the production of plant-based food thickeners coupled with the product popularity among consumers is anticipated to drive the plant based segment.
The key vendors mentioned are Archer Daniels Midland Company, Ashland Specialty Ingredients, C P Kelko, Cargill, Darling Ingredients, DuPont De Nemours, Inc., Edesang, FDL Limited, Fooding Group, Ingredion, Jungbunzlauer, Kerry Group Plc, Medline Industries, Inc., Naturex S.A., Tate & Lyle PLC, and TIC Gums.
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