PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1358161
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1358161
The global hydrocolloids market size was valued at US$ 10.18 Billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 4.8% from 2023 to 2030.
Report Coverage | Report Details | ||
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Base Year: | 2022 | Market Size in 2023: | US$ 10.18 Bn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023 to 2030 CAGR: | 4.80% | 2030 Value Projection: | US$ 14.82 Bn |
Hydrocolloids are substances that have the ability to give foods the proper texture and form. They are used in many different foods and are commonly listed on food labels. Their functionality is vast, and they are used to create the perfect gooeyness for many products. The global hydrocolloids market is a rapidly growing industry that includes a wide range of natural and synthetic polymers used in various applications such as food and beverage, pharmaceuticals, cosmetics, and personal care products. Hydrocolloids are substances that form gels or viscous solutions when mixed with water, and they are widely used as thickeners, stabilizers, emulsifiers, and gelling agents. In addition, they are also used in a wide range of pharmaceuticals, such as wound dressings, blood volume substitutes, homeostatic sponges, and pharmaceutical formulations.
The market is primarily driven by the rise of the confectionery industry. Hydrocolloids are used in the food industry as thickeners, gelling agents, and stabilizing agents. During the past decade, hydrocolloids have witnessed widespread adoption in the food industry. This is attributed to their functional properties, which help reduce calories and fat content. The increasing demand for natural and organic food products, the growing use of hydrocolloids in the pharmaceutical industry, and the rising demand for convenience foods are some of the key factors driving the growth of the hydrocolloids market. Furthermore, the rising demand for ready-meal products has further boosted the market for food hydrocolloids.
On the other hand, adherence to international quality standards and regulations is expected to hamper market growth.