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Hydrocolloidal Market Expected to Reach $18.7 Billion by 2032—Allied Market Research

 
2022
Hydrocolloidal Market

Report Code : A271233

quote The global hydrocolloidal market is expected to witness high growth potential in coming years due to growth in pharmaceutical and healthcare industries coupled with rising demand for processed and convenience foods. However, fluctuations in raw material prices are anticipated to hamper market growth. Nevertheless, the growing demand for plant-based and natural ingredients offers a significant opportunity for the hydrocolloidal market. quote

Yerukola Eswara Prasad - Manager
Materials and Chemicals at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Hydrocolloidal Market," The hydrocolloidal market size was valued at $10.9 billion in 2022, and is estimated to reach $18.7 billion by 2032, growing at a CAGR of 5.6% from 2023 to 2032.

Hydrocolloidal refers to substances or materials that have properties resembling both a colloid and hydrophilic (water-attracting) characteristics. Hydrocolloids are commonly used in various industries, including food, pharmaceuticals, cosmetics, and medical applications. They serve different purposes, such as thickening, gelling, stabilizing, or providing specific properties to products.

Rise in popularity of functional foods, which offer health benefits beyond basic nutrition, augments the demand for hydrocolloids. These ingredients are often incorporated into functional foods for their texture, stability, and health-promoting properties. Hydrocolloids, such as gums and starches, are commonly used in the food industry for their ability to modify texture, enhance stability, and provide other functional properties. They play crucial roles in the formulation of various processed and convenience food products.

Besides, in processed foods, hydrocolloids act as stabilizers by preventing the separation of ingredients, improving the shelf life of products. They contribute to the desirable texture and mouthfeel of many processed foods, including sauces, dressings, and bakery items.

Furthermore, hydrocolloids help maintain the quality of processed foods during storage and transportation. They prevent the formation of ice crystals in frozen foods, control moisture content, and enhance the overall sensory experience of the final product.

Hydrocolloids find applications in a wide range of processed foods, including ready-to-eat meals, snacks, dairy products, and beverages. The versatility of hydrocolloids allows food manufacturers to achieve specific product characteristics that meet consumer expectations for taste, texture, and convenience.

However, the fluctuation in raw material prices is expected to act as a major restraint for hydrocolloidalmarket growth. Many hydrocolloids are derived from natural sources such as seaweed, plants, and microbial fermentation. The availability and prices of these raw materials are subject to factors such as weather conditions, harvesting practices, and geopolitical influences. Moreover, natural disasters, climate variations, or changes in global trade dynamics impact the supply chain of these raw materials. For example, adverse weather conditions affecting seaweed harvests or disruptions in supply chains due to geopolitical events lead to fluctuations in raw material prices.

Moreover, hydrocolloid manufacturers are sensitive to the cost of raw materials, as it significantly influences their production costs. Sudden spikes in the prices of key raw materials squeeze profit margins for manufacturers, especially if they are unable to pass on these cost increases to consumers. On the other hand, the rise in demand for plant-based and natural ingredients is anticipated to offer many opportunities for market growth in the coming years.

The demand for plant-based and natural ingredients encourages innovation in product development. Manufacturers explore novel applications and formulations of hydrocolloids to meet the diverse needs of the plant-based food and beverage market.

The hydrocolloidal market is segmented on the basis of product type, function, end-use industry, and region. By product type, the market is bifurcated into seaweed and others. By function, the market is categorized into thickening agent, gelling agent, stabilizing agent, and others. By end-use industry, the hydrocolloidal market is classified into food and beverage, pharmaceutical, cosmetics, and others. By region, the hydrocolloidal market share is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key players in the hydrocolloidal industry include Ashland Inc., Cargill, Incorporated, Kerry Group plc., BASF SE, Jungbunzlauer Suisse AG, Koninklijke DSM N.V., Glanbia Nutritionals, Inc., Palsgaard, DuPont, and Archer Daniels Midland Company.

Key Regulations:

Some key regulations and standards related to hydrocolloidal include:

  • Hydrocolloids used in the food industry are subject to regulations that vary by country. For example, in the U.S., the Food and Drug Administration (FDA) regulates food additives, including hydrocolloids. The European Food Safety Authority (EFSA) oversees regulations in the European Union. Some hydrocolloids may have Generally Recognized as Safe (GRAS) status, indicating that they are considered safe for use in food.
  • Hydrocolloids used in pharmaceuticals may be subject to regulations regarding excipients. Excipients are substances added to drugs to facilitate the manufacturing process or to improve product performance. Hydrocolloids used in pharmaceuticals must comply with GMP standards to ensure product quality and safety.
  • Hydrocolloidal dressings used in wound care fall under regulations for medical devices. In the U.S., the FDA regulates medical devices through the Center for Devices and Radiological Health (CDRH). In the European Union, the European Medicines Agency (EMA) may also be involved in regulation. Hydrocolloidal materials used in medical devices may undergo biocompatibility testing to ensure they are safe for use in contact with the human body.

Key Findings Of The Study:

  • By product type, the seaweed segment was the highest revenue contributor to the market in 2022.
  • Based on function, stabilizing agent segment was the highest revenue contributor to the market, growing with a CAGR of 5.4%. 
  • On the basis of end-use industry, the food and beverage and pharmaceutical segments are expected to witness considerable CAGRs of 5.9% and 5.7%, respectively, during the forecast period. 
  • Region wise, Asia-Pacific was the highest revenue contributor in 2022.

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quote Hydrocolloidal Market by Product Type (Seaweed, Others), by Function (Thickening Agent, Gelling Agent, Stabilizing Agent, Others), by End-use Industry (Food and Beverage, Pharmaceutical, Cosmetics, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032 quote

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