A notable surge in urban consumption has led to heightened demand for processed food. Consequently, this has propelled the utilization of allied ingredients such as food thickening agents. In the absence of close substitutes for food thickening agents, per ton increase in production of bakery and confectionery items, sausages, dressings, and soups are directly augmenting the demand for food thickening agents. Alongside, processed food manufacturers are focusing on making their products more functional. Food thickening agents possessing attributes to address dysphagia, have garnered attention of processed food manufacturers, which has boosted its demand in the past half-decade. On the back of these dynamic consumption and production trends, demand for food thickening agents is expected to register a steady CAGR of 4%.
Download Free Sample Copy of this Report – https://www.factmr.com/connectus/sample?flag=S&rep_id=4562
Food thickening Agents Market: Segmentation
Fact.MR’s study has done the segmentation of food thickening agents market on the basis of application, source, and region.
Application
- Bakery & Confectionery
- Meat & Poultry
- Sauces & Dressings
- Beverages
- Dairy Products
- Others
Source
- Plant
- Guar Gum
- Gum Arabic
- Locust Bean Gum
- Pectin
- Starches
- Others
- Seaweed
- Carrageenan
- Agar
- Alginate
- Microbial
- Gellan Gum
- Curdlan
- Xanthum Gum
- Animal (Gelatin)
- Synthetic
- Carboxy Methyl Cellulose (CMC)
- Methyl Cellulose
Get Customization on this Report for Specific Research Solutions – https://www.factmr.com/connectus/sample?flag=RC&rep_id=4562
Key Takeaways of Global Food Thickening Agents Market
- The demand for plant-based and seaweed-based food thickening agents is projected to capture more than 50% market share and is anticipated to show a steady growth curve in food thickening agents market during forecasted period.
- Bakery & confectionery application is forecasted to grow 1.6X over the forecast period.
- North America and Europe together hold around 60% of market share in food thickening agents market, whereas, Asia Pacific are projected to present high growth rate.
- Countries like Canada, Mexico and Poland are forecasted to show prominent growth rate in food thickening agents market.
“Plant based food thickening agents are expected to augur well in North America and Asia-Pacific. Investments in organic and vegan labels for new products as well as products in the existing portfolio is expected to reap long term returns”, says the Fact.MR analyst.
Inorganic Strategies to Keep Market Growth on Track
Tier 1 players account for ~30% of revenue share in the food thickening agents market. Key companies in food thickening agent market are CARGILL, Ingredion Inc., CP Kelco, Darling Ingredients, Archer Daniels Midland Company (ADM).
These companies are primarily concentrated in regions such as North America, Europe, and Australia.
Various strategy implementations like mergers, acquisitions, and joint ventures by top-tier players has increased their market share and global presence in the food thickening agents market. On the back of these factors, the market is expected to move towards consolidation.
- In January 2020, ADM acquired Portugal-based Yerbalatina Phytoactives, a natural plant-based extracts and ingredients manufacturer.
- In March 2019, ADM acquired Germany based citrus-ingredient supplier Erich Ziegler which provides compounds in the flavor, food, and beverage industries
- In March 2019, Ingredion Inc. acquired potato starch manufacturer USA-based Western Polymer. Western polymer is the largest cationic potato starch supplier.
- In March 2019, Cargill Acquired Smet, a Belgium Chocolate and Sweets Decorations Supplier. This acquisition is expected to increase investments of the company in food thickening agents.
- In July 2018, ADM entered into a joint venture with Aston Foods Inc. to establish the presence of the company in Russia.
Full Access of this Exclusive Report is Available at- https://www.factmr.com/checkout/4562
Inorganic Strategies to Keep Market Growth on Track
Tier 1 players account for ~ 30% of revenue share in the food thickening agents market. Key companies in food thickening agent market are CARGILL, Ingredion Inc., CP Kelco, Darling Ingredients, Archer Daniels Midland Company (ADM).
These companies are primarily concentrated in regions such as North America, Europe, and Australia.
Various strategy implementations like mergers, acquisitions, and joint ventures by top-tier players has increased their market share and global presence in the food thickening agents market. On the back of these factors, the market is expected to move towards consolidation.
- In January 2020, ADM acquired Portugal-based Yerbalatina Phytoactives, a natural plant-based extracts and ingredients manufacturer.
- In March 2019, ADM acquired Germany based citrus-ingredient supplier Erich Ziegler which provides compounds in the flavor, food, and beverage industries
- In March 2019, Ingredion Inc. acquired potato starch manufacturer USA-based Western Polymer. Western polymer is the largest cationic potato starch supplier.
- In March 2019, Cargill Acquired Smet, a Belgium Chocolate and Sweets Decorations Supplier. This acquisition is expected to increase investments of the company in food thickening agents.
- In July 2018, ADM entered into a joint venture with Aston Foods Inc. to establish the presence of the company in Russia.
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analysed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Email: sales@factmr.com
Visit Our Website: https://www.factmr.com
