The global hydrocolloids market is projected to grow from US$8.260 billion in 2018 and to grow to US$10.367 billion in 2023, exhibiting a CAGR of 4.65% during the forecast period. Hydrocolloids are used extensively in wide variety of food products as gelling and thickening agents for improving shelf-life and quality of food products. Growing global demand for processed and ready-to-use food and beverage items augments the demand for hydrocolloids across food and beverage sector. Rising applications of hydrocolloids across end use sectors such as textiles and pulp and paper industry further propels the growth of global hydrocolloids market.
Geographically, North America holds the largest market share across the globe owing to the presence of major market players in the region coupled with high investment in R&D activities. However, Asia-Pacific will witness the fastest regional market growth during the projected period owing to the rising demand for processed and convenient food items in the region. Growing awareness about medicines among consumers is boosting the demand for OTC drugs in countries like China and India which, in turn, further supports the demand for hydrocolloids across pharmaceutical sector in the region.
The report provides brief introduction of the market and deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segmentations which have been covered as part of the report.
This section provides comprehensive market dynamics through an overview section along with growth drivers, challenges and opportunities which exist in the current market. This section of the report also provides supplier and industry outlook as a whole; key industry, global and regional regulations which are determining the market growth and a brief technological aspect of Hydrocolloids. Complete industry analysis has also been covered through Porter’s five forces model as a part of this report section.
Global Hydrocolloids market is segmented by product type, source, function, end-user industry, and geography.
By Product Type
Locust Bean Gum
By End-User Industry
Food and Beverage
Cosmetics and Personal Care
Paints and Coatings
Middle East & Africa