Global Hydrocolloids Market Report and Forecast 2024-2032

Global Hydrocolloids Market Outlook

The global hydrocolloids market reached a value of almost USD 11.24 billion in 2023. The hydrocolloids industry is further expected to grow at a CAGR of 6.5% between 2024 and 2032 to reach a value of nearly USD 19.85 billion by 2032.

The global hydrocolloids market is supported by North America, which is a leading consumer for hydrocolloids. The hydrocolloids market is driven by the oil well drilling and strong pharma spending in this region. Areas such as the Asia Pacific and the United States are the major producers as well as consumers of hydrocolloids. In Europe, Germany and France are the largest consumers in the hydrocolloids market, aided by the pharmaceutical and food industries in the region.

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Corn starch accounts for the largest industry share in the global hydrocolloids market, followed by guar gum, xanthan gum, and carrageenan. India accounts for the largest share of the guar seed production and is the largest exporter of guar gum in the world. The country accounts for 80-85% of the global guar seed and gum production, followed by Pakistan. The future for guar is viewed to be optimistic, due to the large and continuous demand for guar, especially from North America, owing to the shale revolution and the investigation of new oil reserves in China. Asia and Europe are the major producers for xanthan gum, contributing about 80% of the product. The demand for xanthan gum is projected to increase owing to rising oil and gas production in China, along with the increasing demand for the product in the chemical and automobile industries. The demand for xanthan gum is expected to intensify due to the growth of the food and beverage industry in China, Malaysia, India, and Singapore in the forecast period.

Carrageenan has also witnessed increased production in recent years, with the Asia Pacific contributing to a significant portion of the production share. The industry is especially large in the Asia Pacific as compared to North America and Europe due to an increase in the demand from the fast and processed food sector, accelerating the industry in the Asia Pacific region. The Philippines is the largest producer of carrageenan, accounting for 77% of the world's supply of the hydrocolloid. In the Asia Pacific, China is the key exporter of carrageenan to the United States and Europe. The product is usually used in the confectionery industry in the United States for the suspension of chocolates.

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Market Segmentation

Hydrocolloid is defined as a colloid system that forms a gel when it comes in contact with water. It can be both reversible and irreversible (single state). For example, agar is a reversible hydrocolloid of seaweed extract and can exist in gel and solid-state, and change states through the use or avoidance of heat.

Based on products, the hydrocolloids market is segmented into:

• Corn Starch
• Guar Gum
• Carrageenan
• Xanthan Gum
• Other

Corn starch finds its applications in the sweeteners, HFCS, pharmaceutical, cosmetic, paper, feed, other food use, and hydrocolloid sectors. Fast hydrated gum, industrial grade, and food grade segments are the major application segments for guar gum. Carrageenan, on the other hand, finds its applications in dairy, water gels, non-food, and other food sectors. It can also be subdivided into the following types:

• Refined Carrageenan
• Food Grade Refined Carrageenan
• Non- Food Grade Refined Carrageenan

Xanthan gum finds wide applications in food and beverages, oil and gas, pharmaceuticals, and cosmetics industries, among others.

The report also covers the regional hydrocolloids markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Market Analysis

The global hydrocolloids market is driven by the rising oil well drilling and strong pharma spending. The corn starch is the leading segment of the hydrocolloids market, aided by the huge demand from the food sector and the oil and gas industry. Xanthan gum and carrageenan are also witnessing a rising demand from the food and beverage sector due to the growing health consciousness among the consumers and the diverse functionality of hydrocolloids.

There is a considerable demand for guar gum due to its favourable properties, such as natural thickness and biodegradability, which is aiding the growth of the overall hydrocolloids market. The production of guar gum is expected to increase in the forecast period due to the expected rise in the guar production during the summer season. The guar gum industry is highly influenced by the oil and gas industry, owing to the usage of guar gum in the form of drilling aids to maintain viscosity and mitigate friction during oil well fracturing and stimulation process. Thus, the guar gum industry is growing at a steady pace due to the growth of the oil and gas industry.

Competitive Landscape

June 2017- Ingredion Incorporated (NYSE: INGR) reached an agreement to acquire the US-based company providing advanced texture systems, TIC Gums Incorporated, further expanding its speciality and texture portfolio.

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

• Cargill, Incorporated
• Archer Daniels Midland Company 
• Ingredion Incorporated 
• Kerry Group plc
• Daicel Corporation
• Lotus Gums & Chemicals
• Others

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

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Hydrocolloids Market Report Snapshots

Hydrocolloids Market Size

Hydrocolloids Market Analysis

Hydrocolloids Companies