Hydrocolloids are defined as proteins and polysaccharides of commercial importance. The low-molecular weight hydrocolloids come with immense health benefits and this is anticipated to have a positive effect on the food hydrocolloids market.
There has been a surge in the demand for hydrocolloids following its increased adoption by the food industry. The growing demand for ready-to-eat meals especially by the working class has been one of the driving factors. Thus, the manufacturers are focusing on the expansion of the capacity to produce to cater to the growing demand of hydrocolloids.
The global food hydrocolloids market is forecasted to reach US$7634.0 mn by the end of 2025, after expanding at a CAGR of 3.6% within the forecast period from 2017 to 2025. Several factors are credited to the industry growth rate which is considered fair, and the answers to the following questions can help ascertain the future of the food hydrocolloids market.
Is innovation a way forward for this industry?
Like any other segment, innovation lies at the core of the growth of this market. Food Hydrocolloids, as the name suggests, is mostly used by the various sub-segments of the food industry namely, meat and poultry, dressings and sauces, bakery and confectionaries.
As more and more people make professional and personal commitments towards themselves, eating habits are bound to change thereby increasing the demand for ready-to-eat food. Thus innovation would be required in this segment to cater to the taste buds of diverse group of people. New types of ready-to-eat food products with increased health benefits is sure to lure more consumers.
Low-molecular weight hydrocolloids are hoped to be beneficial for the patients who go through irregular or stoppage of defecation. Such patients could benefit from the incorporation of hydrocolloids into items of nourishments. Administrative endorsements of acacia gum before taking food hydrocolloids is required, in this case.
Despite immense growth opportunity for the sector, the market still has several restraints, such as the preference of usage of conventional ingredients by the local food industry, mars the growth of the global food hydrocolloids.
What is the Scope of the Segment Globally?
North America accounts for most of the market share for this market, however, emerging economies like the countries of Latin Market, Asia Pacific are virgin markets for the industry with immense opportunity to grow. North America is expected to grow at a CAGR of 4.0% during the forecast period of 2017-2025 and region is anticipated to retain a fair chunk of the market share even towards the end of the forecast period.
This however, do not mar the performance of the Asia-Pacific and Latin American regions which are forecasted to provide maximum growth opportunities despite not being explored by the food hydrocolloid industry. The population in these parts of the world are growing at a much faster rate than the developed nations. Furthermore, more young people are found in these regions as compared to the developed countries of Europe and America. With more young people who are gradually becoming more health conscious, the demand of food hydrocolloids rises. The expanding workforce of these markets are contributing towards the availability of more disposable income with the common people. Thus with more disposable income and shifting preference towards a healthy, nutrition-rich diet, these markets which were earlier virgin markets are proving to be a lucrative market for the food hydrocolloid market.