Increasing Demand for Convenience Food Will Drive the Hydrocolloid Market Until 2020, Says Technavio

LONDON--()--According to the latest market study released by Technavio, the global hydrocolloid market is expected to reach USD 108.4 billion by 2020, growing at a CAGR of more than 5%.

This research report titled ‘Global Hydrocolloid Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. To calculate the market size, the revenue generated through sales of hydrocolloids to end-users such as the food and beverage industry, the oil drilling industry, the pharmaceutical industry, the cosmetics industry, the textile industry and others have been taken into consideration, using 2015 as the base year.

Convenience food or processed food is commercially prepared food that requires minimum or no further preparation to be consumed. This category includes packaged food or meals, canned food, frozen food, preserved food, and instant products. This category of food is called convenience food because it is easy to consume, portion-packed, time saving, has convenient packaging, and is freeze or thaw stable. With technological advancement in the packaging industry, the range of convenience has also expanded from frozen, chilled, shelf-stable, portion-ability, microwave-ability, prepared-mixes and others.

Request a sample report: http://www.technavio.com/request-a-sample?report=54417

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Technavio’s chemicals and materials analysts categorize the global hydrocolloid market into five major segments by application. They are:

  • Food and beverage
  • Oil and drilling
  • Pharmaceuticals
  • Cosmetics and textiles
  • Others

In 2015, the global hydrocolloid market was dominated by the food and beverage industry with 58.18% share, followed by the pharmaceutical and oil drilling industries with shares of 14.55% and 8.37%, respectively.

The top three application segments for the global hydrocolloid market are:

Global hydrocolloid market in food and beverage industry

The biggest application area for hydrocolloids is the food and beverage industry, where these are mainly used in bakery products, confectionery products, dairy products, convenience food, processed food, meat, poultry, and several other products as thickening, gelling, film forming or coating, fat-replacing, and stabilizing agents.

According to Ajay Adikhari, a lead bio-chemicals and bio-materials analyst from Technavio, “In dairy and frozen products, hydrocolloids are used in cheese, yogurt, and ice creams for thickening and improving mouthfeel. In bakery and confectionery products, hydrocolloids are widely used for improving food texture, moisture retention, and fat replacement.”

Hydrocolloids are used as thickening agents in salad dressings, sauces, and toppings, soups and gravies, whereas in jams, jellies, and restructured foods, these are used as gelling agents. The food and beverage industry is increasing in both value and volume with the growth in the population.

Global hydrocolloid market in pharmaceuticals

In the pharmaceutical industry, several hydrocolloids are used as drugs, dry tablet binders, disintegrants, to make capsules, and in bandages. These are also used to reduce sugar and cholesterol levels. The most widely used hydrocolloids in the pharmaceutical industry are CMC, pectin, alginates, xanthan gums, and gelatin.

The major applications of hydrocolloids in this industry are liquid dose formulation, solid dose formulation, wound dressing, and ostomy care products. In these applications, hydrocolloids are used as thickening agents, coating agents, binding agents, gelling agents, and suspending agents,” adds Ajay.

Global hydrocolloid market in oil drilling industry

The most commonly used hydrocolloids in the oil drilling industry are guar gum, xanthan gum, CMC, and LBG. The use of guar gum is more prevalent in this industry than any other hydrocolloid. It is widely used as a thickening agent in drilling activities. It is used to thicken water when mixed with sand and pumped through shale rock cracks to extract gas. Increase in shale exploration and fracking activities are primarily driving this market.

The top vendors highlighted by Technavio’s research analysts in this report are:

  • Archer Daniels Midland
  • Cargill
  • DuPont
  • FMC
  • J.M. Huber

Browse Related Reports:

Do you need a report on a market in a specific geographical cluster or country but can’t find what you’re looking for? Don’t worry, Technavio also takes client requests. Please contact enquiry@technavio.com with your requirements and our analysts will be happy to create a customized report just for you.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the latest market study released by Technavio, the global hydrocolloid market is expected to reach USD 108.4 billion by 2020, growing at a CAGR of more than 5%.

$Cashtags

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com