Hydrocolloids Market Size, Trends & Growth 2030

Hydrocolloids Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Gelatin, Starches, Pectin, Xanthan Gum, Carrageenan, Alginates, and Others), Category (Natural and Synthetic), Application [Food & Beverages (Bakery and Confectionery; Dairy and Frozen Desserts; Meat, Poultry, and Seafood; Beverages; and Others), Pharmaceuticals and Nutraceuticals, Personal Care, and Other Applications], and Geography

Publication Month : Nov 2023

  • Report Code : TIPRE00003972
  • Category : Food and Beverages
  • Status : Data Released
  • No. of Pages : 150
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[Research Report] The hydrocolloids market size is projected to grow from US$ 13,563.87 million in 2022 to US$ 20,851.46 million by 2030; the market is expected to register a CAGR of 5.5% from 2022 to 2030.

Market Insights and Analyst View:

Hydrocolloids are extracted from plants, algae, and seaweed. They can also be manufactured using microbial synthesis. These polymers possess excellent thickening, binding, and gelling abilities. Gelatin, pectin, agar, xanthan gum, carrageenan, gellan gum, alginates, guar gum, locust bean gum (LBG), modified starches, cellulose, chitin, and chitosan are various types of hydrocolloids used in food and beverages, pharmaceuticals, nutraceuticals, personal care products, animal feed and pet food, and other industrial products. The continuously flourishing food & beverages sector in the world due to increasing population, rising urban population, changing lifestyle, and hectic work schedule drives the demand for various food ingredients, including hydrocolloids, bolstering the hydrocolloids market growth.

Growth Drivers and Challenges:

Consumers are highly concerned about their diet, and they pay attention to product labels and additives used in processed foods and beverages. The popularity of organic and clean-label products is increasing owing to their perceived health benefits. They are free of pesticides, chemical fertilizers, and genetically modified organisms (GMOs), which increase their appeal among consumers who are ready to pay higher prices. Moreover, consumers increasingly prefer clean-label food products free of synthetic colors, flavors, and other additives. They also focus on holistic and conscious consumption choices made with ethically sourced additives. Thus, an upsurging demand for natural additives is expected to emerge as a new trend in the hydrocolloids market in the coming years.

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Hydrocolloids Market: Strategic Insights

hydrocolloids-market
Market Size Value inUS$ 13,563.87 million in 2022
Market Size Value byUS$ 20,851.46 million by 2030
Growth rateCAGR of 5.5% from 2022 to 2030
Forecast Period2022-2030
Base Year2022
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Report Segmentation and Scope:

The global hydrocolloids market is segmented on the basis of type, category, application, and geography. Based on type, the market is segmented into gelatin, starches, pectin, xanthan gum, carrageenan, alginates, and others. The market, based on category, is bifurcated into natural and synthetic. In terms of application, the hydrocolloids market is categorized into food & beverages, pharmaceuticals and nutraceuticals, personal care, and other applications. The market for the food & beverages segment is further segmented into bakery and confectionery; dairy and frozen desserts; meat, poultry, and seafood; beverages; and others. By geography, the hydrocolloids market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The market in North America is further segmented into the US, Canada, and Mexico. The European hydrocolloids market is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The market in Asia Pacific is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The hydrocolloids market in the MEA is subsegmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The market in South & Central America market is categorized into Brazil, Argentina, and the Rest of South & Central America

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Segmental Analysis

Based on type, the gelatin segment held the largest share of the hydrocolloids market; the carrageenan segment is expected to record the fastest CAGR during 2022–2030. Carrageenan is obtained from red seaweed, and it possesses excellent gelling and thickening properties. Carrageenan has been gaining popularity due to the increasing economic significance and potential health benefits of red seaweed, and the widespread use of carrageenan and agar in food products, cosmetics, medicines, and dietary supplements. Thus, the rising demand for carrageenan is expected to benefit the hydrocolloids market.

Based on category, the natural segment held a larger share of the hydrocolloids market in 2022. The segment is expected to register a higher CAGR from 2022 to 2030. The demand for naturally sourced ingredients is on the rise due to the potential ill effects of synthetic/chemical food additives on consumers’ health. Consumers are increasingly focusing on product labels and prefer the products with transparent labels.

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Regional Analysis:

Among all major regions, Asia Pacific dominated the hydrocolloids market in 2022. The market in this region was valued at US$ 5,036.62 million in 2022. North America is a second major contributor to the global market, holding approximately 27% market share. The US is a significant market for hydrocolloids due to rising demand for convenience food, in line with the fast lifestyle and ease provided by packaged food and beverages in terms of cooking and on-the-go consumption. Hydrocolloids are widely used in packaged/processed food and beverages as a thickening, gelling, and emulsifying agent. Moreover, hydrocolloids act as a stabilizing agent, extending the overall shelf life of the product.

Industry Developments and Future Opportunities:

Various initiatives taken by the key players operating in the hydrocolloids market are listed below:

  1. In February 2021, Jungbunzlauer, a Swiss company, launched high-acyl gellan gum under the brand “TayaGel.” This product is an outstanding stabilizer for various food products such as dairy-based beverages and dairy alternatives.
  2. In October 2021, Tilley Co. acquired Ingredient Solutions Inc., a specialty distributor of hydrocolloids. The acquisition will help the company expand its hydrocolloid portfolio.

COVID-19 Impact:

The COVID-19 pandemic affected almost all industries in various countries in North America, Europe, Asia Pacific (APAC), South & Central America (SAM), and the Middle East & Africa (MEA). Lockdowns, travel restrictions, and business shutdowns in these regions hampered the growth of the food & beverages and pharmaceuticals & nutraceuticals industries. The shutdown of manufacturing units disturbed global supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. Various companies witnessed and announced delays in product deliveries, along with the projection of a slump in sales of their products in 2020. All these factors had a negative impact on the global hydrocolloids market.

The demand for natural and clean-label products increased dramatically during the COVID-19 pandemic as consumers perceive natural products to be healthier than conventional ones. This factor propelled the demand for hydrocolloids in the food & beverages sector. Also, the demand for personal care products with vegan, cruelty-free, natural, and herbal claims increased during the pandemic owing to increased sustainability concerns. This factor indicate strong growth potential for the natural hydrocolloids market in the personal care and cosmetic space. Further, in 2021, the governments of various countries announced relaxations in the restrictions such as lockdowns, trade barriers, and business shutdowns, which led to a recovery in the marketplace. Also, the manufacturers were permitted to operate with full employee strength, which helped them overcome the demand–supply gap.

Competitive Landscape and Key Companies:

The Top 10 companies operating in the global hydrocolloids market are Cargill Incorporated, ADM, Ingredion, DSM, J M Huber, Tate & Lyle Plc, Kerry Group Plc, Gelita AG, International Flavors & Fragrances Inc, and American International Foods Inc. These players focus on developing plant-based, natural, organic, and clean-label flavor masking ingredients, which is expected to open new growth opportunities in the coming years.

Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type, Category, Application, and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

The List of Companies - Hydrocolloids Market

  1. Cargill Incorporated
  2. ADM
  3. Ingredion
  4. DSM
  5. J M Huber
  6. Tate & Lyle Plc
  7. Kerry Group Plc
  8. Gelita AG
  9. International Flavors & Fragrances Inc
  10. American International Foods Inc.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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