NEW YORK, Feb. 23, 2016 /PRNewswire/ --"Hydrocolloids market projected to grow at a CAGR of 5.80%"
The hydrocolloids market is estimated to be valued at USD 5.70 billion and is projected to reach a value of USD 7.56 billion by 2020. This report analyzes the hydrocolloids market, in terms of type, application, source, function, and region. The hydrocolloids market has grown steadily in the last few years and this trend is projected to continue until 2020. The primary factor driving the global success of hydrocolloids is the increasing application in the food & beverages industry due to multi-functional nature of hydrocolloids.
"Dairy products accounted for the largest market share in 2014"
On the basis of application, it is segmented into bakery, confectionery, meat & poultry products, sauces & dressings, beverages, dairy products, and others. Hydrocolloids are used in various dairy products, such as ice cream, and milk, where they act as a stabilizer, thickener, and gelling agent. Dairy products accounted for the largest market share in 2014 due to increasing consumer preference for functional dairy products.
"Thickener segment leads the market with the largest share"
On basis of function, it is further segmented into thickener, stabilizer, gelling agent, fat replacer, coating material, and others. It is further segmented on the basis of regions into North America, Europe, Asia-Pacific, and Rest of the World (RoW). With the increasing health consciousness among the consumers and multi-functionality of hydrocolloids, the demand for hydrocolloids is expected to enhance the market growth in the near future.
"China: The future of the hydrocolloids industry"
North America dominated the global hydrocolloids market in 2014. The Asia-Pacific region was the fastest growing market in 2014. The market is growing in China due to the increasing disposable income of the people, the growth of urban population, and increasing expansions of the key players including Cargill, Incorporated (U.S.) and CP Kelco (U.S.) in China for profitable returns.
Break-up of Primaries:
- By Company Type: Tier 1 – 45 %, Tier 2 – 35%, and Tier 3 – 20%
- By Designation: C level – 28%, Director level – 22%, and Others – 50%
- By Region: North America - 45%, Europe – 25%, APAC – 18%, and RoW – 12%
Leading players include Cargill, Incorporated (U.S.), Ingredion Incorporated (U.S.), E. I. du Pont de Nemours and Company (U.S.), Darling Ingredients Inc. (U.S.), and Kerry Group plc (Ireland).
Reasons to buy this report:
- To get a comprehensive overview of the global hydrocolloids market
- To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
- To gain insights into the major countries/regions in which the hydrocolloids industry is flourishing
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