PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1454095
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1454095
Hydrocolloid Market size was valued at USD 12,230 Million in 2023, expanding at a CAGR of 6.5% from 2024 to 2032.
Hydrocolloids are dressings that retain moisture and contain gel-forming agents like sodium carboxymethylcellulose and gelatin. These dressings often combine the gel-forming properties with elastomers and adhesives, which are then applied to a carrier such as foam or film to create an absorbent, self-adhesive, and waterproof wafer. When in contact with wound exudate, hydrocolloids absorb liquid and form a gel. The properties of this gel depend on the specific formulation and can be influenced by factors such as hydrogen bonding, hydrophobic association, cation mediated cross-linking, and other physical associations between the polymer chains. It is important to note that hydrocolloid gels differ from synthetic polymer gels, which typically consist of covalently cross-linked polymer chains.
Hydrocolloid Market- Market Dynamics
The growing demand for gelatin-based products for creaminess, fat reduction, mouth feel, and acute flavor sense is driving the hydrocolloid market growth.
Gelatin-based products are in high demand because of their unique properties, such as their creamy texture, mouthfeel, and ability to enhance flavors. These sensory attributes are what consumers look for, which is why there is a growing demand for gelatin and other hydrocolloids in food formulations. Studies in food science and technology have shown a 30% increase in the demand for all types of gelatins, both for food and non-food purposes, worldwide. The majority of gelatin production comes from mammal sources, specifically cows and pigs. As people become more conscious about their health and wellness, they are looking for food products with reduced fat content while still maintaining a desirable texture and sensory experience. Additionally, the growing demand for functional food ingredients and the expansion of the food and beverage industry present opportunities for market growth. However, the availability of raw materials and price volatility may pose challenges to the market's growth.
Hydrocolloid Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 6.5% over the forecast period (2024-2032)
Based on Product segmentation, Gelatin was predicted to show maximum market share in the year 2023
Based on Function segmentation, Thickening was the leading type in 2023
Based on Source segmentation, Animal was the leading type in 2023
Based on Application segmentation, Food & Beverage was the leading type in 2023
On the basis of region, Asia pacific was the leading revenue generator in 2023
The Global Hydrocolloid Market is segmented on the basis of Product, Function, Source, Application, and Region.
The market is segmented into three groups according to Product: Gelatin, Xanthan Gum, Carrageenan, Alginates, Pectin, Guar Gum, Gum Arabic, Carboxy Methyl Cellulose, Agar, and Locust Bean Gum. Gelatin holds the largest market share. The growing consumer inclination towards natural and clean label ingredients has led to an increased need for gelatin as a natural hydrocolloid in food and pharmaceutical items, thereby fueling market expansion.
The market is categorized into three segments according to Function: Thickening, Gelling, Stabilizing, and Others. The dominant segment in the market is Thickening. Hydrocolloids are also employed as thickening agents in various industrial applications, including adhesives, paints, coatings, and printing inks. They play a crucial role in controlling the rheological properties of these formulations, guaranteeing appropriate flow, stability, and adherence to substrates.
The market is categorized into five groups according to their source: Botanical, Microbial, Seaweed, Animal, and Synthetic. The dominant segment in the market is the Animal segment. Animal-derived hydrocolloids, such as gelatin and collagen, have a significant impact on numerous industries by offering texture, functionality, and health advantages to a diverse array of products.
The market is segmented into three main categories according to their application: Food & Beverage, Pharmaceutical, Personal Care & Cosmetics, and Others. Food & Beverage holds the largest share in the market. The hydrocolloid market plays a vital role in the food and beverage sector, enhancing various products in terms of texture, stability, and sensory characteristics.
Hydrocolloid Market- Geographical Insights
This market is spread across various regions including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Each of these regions is further divided based on the countries involved in business activities. The Asia Pacific region is expected to have the highest growth in the market, primarily due to the increasing health-consciousness among consumers. Consumers in this region are increasingly demanding food and beverage products that are perceived as healthier and more nutritious. According to a report by Financier Worldwide, Chinese consumers are the most health-conscious in the world, with 73 percent of those surveyed stating that they would be willing to pay more for healthier products. This percentage is 12 percent higher than the global average. In upcoming year, Europe holds the second largest region for market growth, mainly due to the growing adoption of e-commerce platforms.
In the competitive landscape of the hydrocolloid market, companies strive to differentiate themselves by offering a diverse range of high-quality hydrocolloid products. The ability to cater to various applications and industries gives these companies a competitive edge. To effectively compete in this market, it is crucial for companies to have efficient distribution channels that can reach customers in different regions and industries. Companies with extensive distribution networks and strategic partnerships are at an advantage in terms of market reach and accessibility. For instance, Ingredion Incorporated, a renowned global provider of specialty ingredient solutions to the food and beverage manufacturing industry, has recently introduced NOVATION Indulge 2940 starch. This clean-label texturizer, made from non-GMO functional native corn starch, offers a unique texture for gelling and co-texturizing popular dairy and alternative dairy products and desserts. This expansion of their product line demonstrates their commitment to innovation and meeting the evolving needs of the market.
In January 2023, Acacia gum was the timely component introduced by the French ingredients business Alland & Robert. With the help of Syndeo Gelling, plant-based formulations can benefit from improved mouthfeel as well as stabilizing, gelling, thickening, binding, and texturing qualities.
GLOBAL HYDROCOLLOID MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
DuPont
Palsgaard
Nexira
Ingredion, Incorporated
Kerry
BASF
Ashland
CP Kelco U.S. Inc.
Glanbia Nutritionals
Darling Ingredients, Inc.
Tate & Lyle Plc
Cargill, Incorporated
Fuerst Day Lawson
Koninklijke DSM N.V.
The Archer Daniels Midland Company (ADM)
Others