Global Food Thickeners Market Report and Forecast 2024-2032

Global Food Thickeners Market Outlook

The global food thickeners market reached a value of about USD 15.99 billion in 2023. The industry is further expected to grow at a CAGR of about 5.8% in the forecast period of 2024-2032 to reach a value of around USD 26.51 billion by 2032.    

North America and the Asia Pacific to be Significant Regional Markets for Food Thickeners

The Asia Pacific region, led by China, Japan and India, is one of the leading regional markets for food thickeners. The market in the Asia Pacific is expected to be driven by the growing consumption of food thickeners and the availability of food thickeners in various varieties in the region. Food and beverages manufacturers are focusing on health aspects, product innovation, and improving the functional features such as flavour and texture, which are boosting the food thickeners industry growth in the region. In addition, increasing food and beverage demand supported by the growth of the supermarket and e-commerce sectors, along with the rising consumer awareness and easy product accessibility, is anticipated to fuel product demand.

During the forecast period, the market in North America is expected to grow at a healthy pace owing to the high consumption of protein, hydrocolloids, starch and starch derivatives range of food and beverages in the region, the rise in the notable demand for the product from various industries located in the United States and Canada, the rise in the presence of various multinational food processing and manufacturing companies, and the rise in the change in lifestyles of the consumers resulting in an increased focus on their diet in this region.

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Food Thickeners: Market Segmentation

Food thickeners are ingredients that are added to food to make it thicker or more consistent without changing the flavour. They are often derived from plant sources and sometimes animal sources that absorb water in the dish to improve the bulkiness and viscosity of the product. Hydrocolloids, collagen, gelatin, arrowroot, cornstarch, potato starch, sago, tapioca, alganin, and xanthan gum are all common food thickeners. They are used to produce a constant texture in sauces, gravies, sweets, and puddings with other ingredients.

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By type, the market can be divided into:

• Protein 
• Starch
• Hydrocolloids 
  • Gelatine
  • Xanthan Gum
  • Agar
  • Pectin
  • Others

Based on sources, the market is segmented into:

• Plant
• Animal
• Microbial

The leading application segments of the industry include:

• Bakery and Confectionery
• Sauces and Dips
• Beverages
• Convenience and Processed Food
• Others

The regional markets for food thickeners can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Growth in the Food and Beverage Industry Boosting the Market Growth of Food Thickeners

The increased utility of the product in food and beverage applications and the rising consumer awareness of health and wellness are driving demand for food thickeners. The market expansion is likely to be aided by continued product innovation, changing consumer preferences for high-quality products, and strengthened government food regulations. Over the projected period, favourable government initiatives related to the growth of the food and beverage industry are expected to boost the demand for the product. Various government agencies and organisations have established and implemented programmes to encourage people to live healthy lifestyles. These schemes include introducing innovative health products for reducing diabetes, obesity, and cholesterol levels, thereby augmenting the demand within the food thickeners industry. Thus, over the projected period, the robust growth in the food and beverage industry, combined with a large consumer base, is expected to raise the product consumption. Further, increased disposable income, combined with changing consumer lifestyles due to rapid urbanisation, is also predicted to boost the industry growth. Over the forecast period, the rising demand for ready-to-eat snacks, protein-rich goods, and nutritional foods is expected to drive product demand. The rising demand for non-alcoholic beverages, such as fruit juices and energy drinks, is also likely to boost the market growth.

Key Industry Players in the Global Food Thickeners Market

The report gives a detailed analysis of the following key players in the global food thickeners market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Archer-Daniels-Midland Company
• Ashland
• Cargill, Incorporated
• DuPont De Nemours Inc.
• Ingredion Incorporated
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report