Hydrocolloids are functional carbohydrates used in food to improve its quality and shelf-life. In recent past, the adoption of food hydrocolloids additives has increased notably owing to their ability to alter the texture and viscosity of diverse food products, such as salad dressings, ice cream, beverages, processed meats, and others. Hydrocolloids are gaining immense traction from food industry, on the back of underlying consumer trends, such as consumers’ growing quest for convenient foods and beverages, increasing demand for dairy and plant-based protein beverages and shifting preference for clean label products. Additionally, the burgeoning consumption of ready-to-eat food and meals is also a key demand driver, which is positively influencing the global food hydrocolloids market.
Adoption of Unique Strategies Intensifying Market Competition
The robust competition in global food hydrocolloids market is prompting food hydrocolloids’ manufacturers to adopt unique growth strategies to move ahead of the counterparts. As the growing penetration of market entrants has been reinforcing competition in food hydrocolloids market, achieving product innovation, participation in collaborations and acquisition of local players, and hefty R&D investments have become the key strategies deployed by leading players operating in worldwide food hydrocolloids market. Such growth-driven initiatives are bringing tremendous changes in the global food hydrocolloids market, thereby paving way for innumerable lucrative growth opportunities for food hydrocolloids’ manufacturers, while they indulge into geographical expansion to diversify their business to tap a wider customer base.
The burgeoning number of innovative product launches coupled with the emergence of new entrants are likely to make food hydrocolloids highly competitively priced in the upcoming years. Some of the notable developments in food hydrocolloids market include:
- Another leading player in food hydrocolloids market, DSM, has purchased a majority stake in Andre Pectin for €150m. As per DSM, the deal has expanded DSM’s hydrocolloid portfolio, adding to its stakes in DSM Rainbow (Inner Mongolia) Biotechnology as well as in DSM Zhongken Biotechnology.
- February 2018 – TIC Gums introduced Simplistica line of ingredient systems at Engredea 2018. It included high-end solutions from TIC Gums and parent firm Ingredion, such as hydrocolloids, sweeteners, starches, and plant proteins.
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Detailed profiling of other leading players operating in food hydrocolloids market has also been mentioned in PMR report on food hydrocolloids market. Key players operating in food hydrocolloids market include De Pont De Nemours & Company, JM Huber Corp (CP Kelco), Cargill Incorporated, DSM, Darling Ingredients, Ashland Inc., Kerry Group plc, Hindustan Gum & Chemicals Ltd, CP Kelco, Fuerst Day Lawson, Kraft Foods Group Inc. and Ingredion Incorporated.
Proliferating Changes in Food Industry Fueling Market Expansion
The growing focus on R&D activities linked to manufacturing of convenience and highly functional foods has been driving growth in food hydrocolloids market. With rapidly altering lifestyles, the culinary space is witnessing tremendous transformation, which is calling for a need of easy-to-cook, and ready-to-eat foods. This can be accredited to rising complexity of consumer dynamics owing to professional and personal commitments, which doesn’t leave them with sufficient time for fresh cooking on a regular basis. Moreover, the aggressive technological advancements in cooking and food production are also inducing progress in food hydrocolloids market. Additionally, accelerating population in tandem with growing demand for a variety of foods in packaged as well as freshly-prepared form are likely to underpin hefty gains in the food hydrocolloids market.
Stringent Regulations on Food Hydrocolloids’ Production Making Growth Challenging
As underdeveloped economies with partially evolved food industry have stringent government-imposed rules and regulations associated with the use of food hydrocolloids, food hydrocolloids market continue to witness sluggish growth in these regions. Moreover, the availability of food hydrocolloids adhesives is bleak in remote regions, thereby dampening the expansion of the worldwide food hydrocolloids market. To capitalize on the lack of availability in remote regions, several manufacturers are eying to regulate production of food hydrocolloids, which is likely to offset most manacles hampering food hydrocolloids market up to a certain level. Additionally, emerging economies are seeking to obtain food hydrocolloids sourced from nature. For instance, Indian Farmers’ Fertiliser Cooperative (IFFCO) has sealed a deal with Sikkim, the first organic state in the country, to manufacture hydrocolloids based on seaweed biomass.
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Shifting Consumer Preference for Clean Label Products Creating Opportunities
The burgeoning demand for high-quality food products in tandem with the altering consumption pattern has been accelerating the demand for natural thickeners, such as food hydrocolloids. Further, increasing health consciousness coupled with the multi functionality of food hydrocolloids, which caters to an array of food products and beverages, is expected to translate into steady growth in global food hydrocolloids market. Additionally, the growing demand for highly nutritional and healthy food products with ‘clean label’ claims is increasing the demand for natural thickeners, such as hydrocolloids.