Published on: May 2022
Comprehensive market overview for Thickeners
The global food thickeners market is predicted to develop at a compound annual growth rate (CAGR) of 6.0 percent from 2020 to 2027, with a market value of USD 13.1 billion in 2019. The increasing usability of the product in food and beverage applications, as well as increased consumer awareness of health and wellness, are driving up demand for food thickeners. Market expansion is likely to be aided by factors such as continued product innovation, changing consumer tastes for high-quality products, and strengthened government food regulations. Over the projected period, favorable government laws linked to the growth of the food and beverage industry are expected to boost demand.
Beaucoup players staking claims in propelling forward a boost to the industry
Various government agencies and organizations have established and implemented programs aimed at encouraging people to live healthier lives. These plans include the introduction of new healthy products aimed at lowering diabetes, obesity, and cholesterol levels, therefore increasing industry demand. Over the projected period, robust growth in the food and beverage industry, combined with the presence of a large consumer base, is expected to raise product consumption. Similarly, increased disposable income, combined with changing consumer lifestyles as a result of rapid urbanization, is predicted to boost the industry.
Exploring some more
Food thickeners like starch, hydrocolloids, and proteins are commonly used as thickening, stabilizing, and gelling agents in the baking industry. Furthermore, rising demand for ready-to-eat snacks, protein-rich foods, and nutritional foods is expected to drive product demand in the approaching years.
Over the projected period, rising demand for non-alcoholic beverages, such as fruit juices and energy drinks, is likely to boost market growth. The market is fiercely competitive, with big industrial participants like Cargill Inc. and CP Kelco producing considerable volumes. These main firms compete on the basis of formulation blends and customisation services, allowing them to reach a wider audience.
Reasons you should buy the expert report from Industry Data Analytics
Delve deeper and get a look into the more detailed version of the expert report. https://www.industrydataanalytics.com/reports/global-thickeners-market