The Food Thickeners Market's Growth is estimated to Accelerate Largely Owing to the Rising Demand for Fruit Juices

There has been increased demand for the fruit juices such as orange, apple, mango, mixed fruit, and others due to their wide range of health benefits. With growing demand for fruit juices, the food thickeners are also anticipated to have an accelerated demand, thus resulting in growth of the market. Moreover, manufacturers are introducing a wide array of flavors and producing preservative-free and sugar-free fruit juices to expand the consumer base, boosting the overall demand for fruit juices worldwide. Therefore, the global food thickeners market is estimated to increase rapidly in the forecasted timeframe.

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Data Bridge Market Research analyses that the food thickeners market is expected to grow at a CAGR of 5.5% in the forecast period of 2021 to 2029 and is expected to reach USD 13,140.12 million by 2029. The per capita income directly impacts increased spending on health and wellness products of foods and beverages. This, in turn, boosts the demand for food thickeners. Hence, an increase in per capita income worldwide is expected to be a driving factor for the growth of the global food thickeners market.

Increasing Utilization across Food Applications Is Expected To Drive the Market's Growth Rate

Food thickeners are basically the food modifying agents that are used to modify the texture structure and increase the thickness of food and beverages, helping absorb the water content in the edibles once they are integrated into the products. These products are majorly utilized to modify the viscosity of these products, giving them a consistent overall structure. The market's most widely used food thickeners are starches, followed by hydrocolloids and proteins. Food thickeners are used in food applications such as bakery products, confectionery products, sauces, dressings, marinades, gravies, beverages, dairy, frozen desserts, convenience, and processed food. Therefore, the high utilization of food thickeners across food and beverages applications is projected to boost market growth.

Report Scope and Market Segmentation

Segment Analysis:

The food thickeners market is segmented on the basis of product type, wound type, wound class, end user and distribution channel.

• On the basis of type, the global food thickeners market is segmented into protein, starch, hydrocolloids, pectin, and others. In 2022, the hydrocolloids food thickeners segment is expected to dominate the market with the CAGR of 5.0% in the forecast period of 2022 to 2029. The high growth of this segment is attribute to its growing use in confectionery products, including jam, jelly, marmalade, chewing gum, and low sugar/calorie gels.
• On the basis of form, the global food thickeners market is segmented into gel, powder, granules, and others. In 2022, the powder food thickeners segment is expected to dominate the market with the CAGR of 5.9% in the forecast period of 2022 to 2029. The high growth of this segment is attribute to the easy-to-use nature of powder form and maintenance compared to other form food thickeners.
• On the basis of nature, the global food thickeners market is segmented into GMO and non-GMO. In 2022, the non-GMO food thickeners segment is expected to dominate the market with the CAGR of 5.5%

The Non-GMO Food Thickeners Segment is expected to dominate the Market with the CAGR Of 5.5%

In 2022, the non-GMO food thickeners segment is expected to dominate the market with the CAGR of 5.5% in the forecast period of 2022 to 2029. The high growth of this segment is attribute to the growing demand for organic, naturally grown foods as organically grown non-GMO foods are richer in nutrients such as omega fatty acids, several vital vitamins, and minerals. Non-GMO foods are free of chemicals, preservatives, and toxins that can be life-threatening to the body in the long run.

• On the basis of source, the global food thickeners market is segmented into plant-based, animal-based, marine, and microbial. In 2022, the plant-based food thickeners segment is expected to dominate the market with the CAGR of 5.8%.

The Plant-Based Food Thickeners Segment is expected to dominate the Market with the CAGR of 5.8%

In 2022, the plant-based food thickeners segment is expected to dominate the market with the CAGR of 5.8% in the forecast period of 2022 to 2029. The high growth of this segment is attribute to the growing popularity of plant-based food thickeners such as starch extracted from grains of corn, wheat, or rice and root vegetables such as potato, cassava, and arrowroot.

• On the basis of application, the global food thickeners market is segmented into food and beverages. In 2022, the food segment is expected to dominate the market with the CAGR of 5.7% in the forecast period of 2022 to 2029. The high growth of this segment is attribute to a rise in the benefits associated with the product offering more than just thickening capabilities.

Major Players

Data Bridge Market Research recognizes the following companies as the major food thickeners market players in food thickeners market are Ingredion (U.S.), Cargill, Incorporated (U.S.), CP Kelco U.S., Inc. (U.S.), Tate & Lyle PLC (U.K.), DuPont (U.S.), J&K Ingredients, Inc. (U.S.), Fiberstar (U.S.), Sunbloom Proteins GmbH (Germany), Fismer Lecithin (Germany), All American Foods (U.S.), Bob's Red Mill Natural Foods (U.S.), Cargill Incorporated (U.S.), Puratos (U.S.), Arla Foods amba (Denmark), ADM (U.S.), Glanbia Plc (Ireland), Kerry Group (Ireland),  Florida Food Products (U.S.) and Corbion (Netherlands), Emsland Group (Germany), Ashland (U.S.), ADM (U.S.), Jungbunzlauer Suisse AG (U.S.) and Solvay (Belgium).

Market Development

• In February 2021, Modern Foods was acquired by Grupo Bimbo. It was acquired from the homegrown private equity fund Everstone Capital of Grupo Bimbo. In addition, Everstone had acquired the brand from Hindustan Unilever in 2016. Everstone's bread and bakery platform Everfoods Asia consists of the Modern Bread brand and others like Cookie Man.
• In May 2021, Mondelez International (MDLZ) had acquired Chipita S.A. for approximately USD 2 billion. Chipita is a Greek snacking company that produces and markets savory and sweet snacks. Chipita's portfolio of croissant and baked snack brands includes 7Days, Chipicao and Fineti. The acquisition is a significant step forward in the Company's strategic plan, which is focused on accelerating growth in core snacking adjacencies while expanding its footprint in key markets.
• In September 2021, Finsbury Food Group expanded its Mary Berry supermarket cake range with the launch of Bundt cakes. The Bundt cakes come in two flavors – lemon and chocolate. The products are lemon sponge cake, lemon icing, lemon curd drizzle, and hand-decorated Belgian white chocolate curls; and chocolate sponge cake, featuring chocolate icing and hand-decorated with Belgian dark and white chocolate.
• In 2021, PepsiCo launched juice water called Frutyl, a mix of fruit juice, water, and electrolyte, helping keep the consumer hydrated. To provide flavorful hydration and a good source of vitamins C and E, Frutly is made with water, fruit juice, and electrolytes for taste. This fruit juice targets the teenager segment, who will be the primary consumers of the fruit juices. These fruit juices are available in three flavors and packed in 35oz bottles containing zero sugar and 60 calories.
• In 2020, Coca-Cola India launched two different products under its Minute Made brand to bring delightful fruit nutrition from the farm to the table. Vita Punch and Nutri Force are made from fruit juice with fortified nutrients such as vitamin C and iron.

Regional Analysis

Geographically, the countries covered in the food thickeners market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

Asia-Pacific is the dominant region in food thickeners market during the forecast period

Asia-Pacific dominated the food thickeners market owing to the growth in investments and collaborations in the food thickeners business. North America will continue to dominate the food thickeners market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. China is expected to dominate the global food thickeners market in the Asia-Pacific region owing to rising disposable incomes coupled with changing lifestyles due to rapid urbanization. 

North America is estimated to be the fastest growing region in food thickeners market

North America is expected to grow during the forecast period due to the growing fast foods and restaurant chains in this region.

COVID-19 Impact Analysis

The outbreak of COVID-19 impacted the food and beverages industry. The food thickeners market was, however adversely affected by it.  The outbreak of the COVID-19 pandemic has impacted all industries, including the food thickener market. The food thickener market is subjected to a negative impact due to the sudden outbreak of the pandemic. The governments in the region have put lockdowns across the globe, resulting in restrictions on movement, transportation, import, and export of goods, which has affected the supply chain and the process of food thickener market. Moreover, the lockdown has led to low raw material availability for manufacturing processes, labor shortage, and prices. COVID-19 has highly impacted the supply of raw materials of hydrocolloids, the food thickener. Moreover, the pandemic largely impacted the logistics of food thickeners, contributing to the increased prices of raw materials, which increases the cost for food thickeners manufacturers.

On the brighter side, there has been a decline in COVID-19 patients worldwide, which will result in revival of the market. Moreover, the restrictions and measures are likely to relax, which will help market to witness a slight increment, as the manufacturers are focusing on various developments and innovations, market trends, and other expansion strategies. Thus, the food thickeners market will grow at an accelerated pace post COVID-19.

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