Hydrocolloids are a group of long chain polymers that are generally known for their property of forming viscous dispersions and gels when dispersed in water. These polymers are derived naturally from the exudates of trees or bushes, extracts of plants and seaweeds, flours from seeds or grains, and from the gummy slimes from fermentation processes. The presence of a large number of hydroxyl groups in hydrocolloids and in water increases the affinity of hydrocolloids to bind the water molecules and form hydrophilic compounds. They also produce a dispersion which exhibits the properties of a colloid, and is in an intermediate state between a true solution and a suspension. These two properties have led to these polymers being popularly known as hydrophilic colloids or hydrocolloids. Hydrocolloids have numerous applications in food products, such as thickening, gelling, emulsifying, stabilization, and coating. Hydrocolloids are an integral part of the global food and beverage, pharmaceutical, and cosmetics industries among others. Companies worldwide are focusing their R&D efforts on technological innovations in order to expand the functionalities as well as applications of various types of hydrocolloids in several end-user industries
Technavio’s analysts forecast the global hydrocolloid market to grow at a CAGR of 10.16% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global hydrocolloid market for 2016-2020. To calculate the market size, the report considers the revenue generated through sales of hydrocolloids to end-users such as the food and beverage industry, the oil drilling industry, the pharmaceutical industry, the cosmetics industry, the textile industry and others.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Hydrocolloid Market 2016-2020
Technavio recognizes the following companies as the key players in the global hydrocolloid market: Archer Daniels Midland, Cargill, DuPont, FMC, and J.M. Huber.
Other prominent vendors in the market are: Altrafine Gums, Ashland, Ingredion, and Kerry Group.
Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is increasing demand for functional food. Functional foods and drinks aim at improving health conditions. With higher disposable income and increasing awareness, primarily in the developing and developed regions, the demand for functional food is expected to grow during the forecast period. The use of hydrocolloids in functional food helps in reducing incidences of diabetes, obesity, and several other diseases. Thus, hydrocolloids are used in several functional food and beverages.”
According to the report, one of the primary drivers in the market is increasing demand for convenience food. Convenience food or processed food is commercially prepared food that requires minimum or no further preparation in order to be consumed. This category includes packaged food or meals, canned food, frozen food, preserved food, and instant products. This category of food is called convenience food because it is easy to consume, portion-packed, time saving, has convenient packaging, and is freeze or thaw stable. With technological advancement in the packaging industry, the range of convenience has also expanded from frozen, chilled, shelf-stable, portion-ability, microwave-ability, prepared-mixes and others.
Further, the report states that one major challenge in the market is complexity in raw material sourcing. The major ingredients and raw materials used in hydrocolloids are mostly sourced from third-party suppliers. This increases the risk of contamination due to improper handling as hydrocolloids are mainly used in the food and beverage industry. Hydrocolloids are mostly obtained from plants, animals, and seaweeds. It is a challenging task for the vendors to obtain best-quality and naturally derived raw materials. Also, the process of collecting and processing hydrocolloids, especially from seaweeds is a complex task. As a result, there is scarcity of raw materials in the market, which is expected to increase the price of hydrocolloids, affecting the financial performance of the vendors.
Archer Daniels Midland, Cargill, DuPont, FMC, J.M. Huber, Altrafine Gums, Ashland, Ingredion, Kerry Group.