Food Texturants Market Size 2020- COVID-19, Regional Trend, Status, Outlook By 2024

 

Market Overview

Food texturants are additives used in increasing the density of foods. Low-sugar foods have found to be using food texturants to increase the appeal of foods. For instance, Cargill offers chicory root fiber for dairy and non-dariy foods for provides a sugary taste while keeping in mind the waistlines of customers. The global food texturants market report by Market Research Future (MRFR) looks at the various developments in bulking materials as well as the demand of processed and ready-to-eat foods by consumers. It contains drivers and obstacles for the period of 2019 to 2024 (forecast period). The impact of the COVID-19 pandemic and its effects have been written in detail in the report.

Market Scope

The global food texturants market is expected to reach a value of USD 6.6 billion by 2024. It can exhibit a growth rate of 3.2% over the forecast period. Increasing use of food additives for increasing the appeal of foods is one of the biggest drivers of the market. Investments in research and development for offering foods with transparency and emphasis on clean labeling can fuel the market growth. Awareness among consumers on the use of ingredients and need for a healthy lifestyle can work in favor of the market.

The need for milk and its value-added products will trigger the need for food texturants. Consumption of beverages, yogurt, and flavored milk can bode well for the market till 2024. Research on local tastes and launch of appropriate flavors can drive the revenue of the global food texturants market. Inclination towards healthy foods as well as cognizance of food allergies can pave open new growth avenues.

But raw material prices and restrictions on the use of synthetic materials can hamper market growth.

Segmentation

The global food texturants market has been segmented based on type, category, and application.

By type, the global market has been classified as hydrocolloids, emulsifiers, stabilizers, and others. The hydrocolloids segment gained major market share in 2018 and is also expected to grow during the review period.

The global market has also been divided, on the basis of category, natural and synthetic. The synthetic market accounted the largest market share. However, the natural segment is expected to be the fastest growing segment from 2019 to 2024.

By application, the global market has been segmented into soups, sauces, & dips, sweet and savory snacks, meat, poultry, & seafood, dairy & frozen desserts, bakery & confectionery, beverages, and others. The bakery and confectionery market held the major market share and is also estimated to be the fastest growing segment during the forecast period.

Regional Analysis

The global food texturants market has been studied with regard to four key regions—North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).

North America is expected to be at the forefront in the market owing to investments in development of new foods, penchant for exotic tastes by customers, and changing lifestyles of consumers.

But APAC is portended to lead by the end of 2024 due to demand for food texturants in sweet and savory snacks, meat, poultry, bakery products, and other items. China and India are expected to contribute majorly to the market.

Competition Outlook

Archer Daniels Midland Company, Fiberstar Inc., Tic Gums Inc., Kerry Group, Danisco A/S, BASF, Cpkelco, Tate & Lyle PLC., Gelita AG Eberbach, Ingredion Incorporated, Csm NV, Cargill Inc., Südzucker AG, Ajinomoto Co Inc., and Royal DSM are key players of the global food texturants market.

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