Food Thickeners Market

The global food thickeners market was valued at $13,085.2 million in 2021, and is expected to reach $22,336.8 million by 2031, registering a CAGR of 5.6% from 2022 to 2031.

The outbreak of COVID-19 has impacted the food and beverage sector negatively, owing to several factors such as market closures, manufacturing disruptions, sourcing issues, restricted travel &transportation, and others. According to the market players, the major obstacle faced by them attributed by the COVID-19 pandemic were the disruption of the supply chain and restrictions in manufacturing capacity. The interruptions in food thickeners market trends are expected to set back at their previous growth trends in next couple of years.

Food thickeners or thickening agents are substances added to a mixture or foodstuff to increase its viscosity without substantially altering its other properties. It improves the suspension of other ingredients and increases the stability of the product. In the food industry, thickeners are used to enhance numerous basic properties of food products such as viscosity, texture, density, stability, and flavor. 

Surge in demand for convenience food, rise in disposable income, and the advantages & various functions associated with the use of food thickeners drive the global food thickeners market. Further, rise in health consciousness among consumers is expected to present a substantial growth opportunity for the global industry players. However, fluctuation in prices of food thickeners and high R&D cost associated with their production may restrain the growth of food thickeners market.

Rise in working population and improvement in economic condition lead to rise in demand for convenience food such as packaged food and ready to eat food due to busy & hectic schedule. These foods are offered for ease of consumption such as shelf-stable products, refrigerated or frozen products, and dry mixes that require minimal preparation and others during the hectic schedule of the consumers. With rise in urbanization, improved living standard, and change in food habits &lifestyle, the demand for food & beverage industry is on an increase. Further, with growth in demand for conventional food, the food thickeners market is expected to experience significant growth as these foods contain various types of thickeners such as corn starch, arrowroot, cassava, agar-agar, gelatin, and eggs. Thickeners are added to food to enhance properties of food products such as viscosity, texture, density, stability, flavor, and others. The rising popularity of processed foods is supporting the food thickeners market demand in the world.

However, fluctuation in the price of raw materials impedes the performance of food thickeners market. Food thickeners are used in the food to enhance several basic properties of food products such as viscosity, texture, stability, taste, and flavor. Several types of food thickeners are available in market such as starch-based instant food thickeners, liquid xanthan gum-based gel thickeners, powdered xanthan gum thickeners, and others. Further, starch-based food thickeners include ThickIt, Thick& Easy and ThickenUp that are most affordable compared to other thickeners, however they add a noticeable starchy taste to liquids. Liquid xanthan gum-based gel thickeners, such as Simply Thick are better testing option for thickening liquids; although it is three times more expensive than both starch-based and xanthan gum-based powdered thickeners. In addition, powdered xanthan gum thickener is a widely available thickener and is convenient as it mixes easily into liquids. Thus, the fluctuating price of food thickeners is expected to hamper the food thickeners market growth.

Segment Review

The report emphasizes on the major types of food thickeners such as starch, protein, and hydrocolloid. By source, the food thickeners market is classified into plant, animal, and microbial. On the basis of application, it is divided into bakery; confectionery; sauces, dressings, marinades, & gravies; beverages; dairy & frozen desserts; and convenience & processed food. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Food thickeners are mainly composed of starch, protein, and hydrocolloid. Starch accounts for major market share in terms of revenue and volume, followed by hydrocolloids and protein. Hydrocolloids are expected to witness fastest growth rate during the forecast period.

By source, the market is segmented into plant, animal, and microbial. Plant segment is leading the food thickeners market share, however, microbial as a source is the fastest growing segment owing to increased advancements in technologies and improved R&D. Asia-Pacific and Europe collectively accounted for about 50% share of the microbial food thickeners market in 2020. LAMEA and Asia-Pacific are expected to witness significant growth rates during the forecast period.

By application, the market is classified into bakery, confectionery, sauces, dressings, marinades & gravies, beverages, dairy & frozen desserts, and convenience & processed food. Dairy and frozen dessert segment dominates the market; however, beverages sector is anticipated to be the fastest growing segment during the forecast period (2022-2031) owing to increased westernization and development of novel drinks in the market.

Archer Daniels Midland Company, Cargill, Inc., E. I. DuPont de Nemours and Company, Ingredion Incorporated, Kerry Group Plc., CP Kelco, Darling Ingredients, Tate & Lyle PLC., Ashland Specialty Ingredients, and TIC Gums and others and others are some of the key players in the industry.

Key Benefits for Stakeholders

• The report provides a quantitative analysis on food thickeners market, market trends, estimations, and dynamics of the food thickeners market size from 2020 to 2031to identify the prevailing food thickeners market opportunity.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
• In-depth food thickeners market analysis, the market size, and segmentation assist to determine the prevailing food thickeners market opportunities.
• The major countries in each region are mapped according to their revenue contribution to the food thickeners market.

The market player positioning analysis facilitates benchmarking and provides a clear understanding of the present position of the market players in the food thickeners industry.

 Food Thickeners Market Report Highlights