The food thickening agents market is set to grow by $1 billion by 2028, driven by increased demand for processed foods and innovations in plant-based and seaweed-based thickeners.
A notable surge in urban consumption has led to heightened demand for processed food. Consequently, this has propelled the utilization of allied ingredients such as food thickening agents. In the absence of close substitutes for food thickening agents, per ton increase in production of bakery and confectionery items, sausages, dressings, and soups are directly augmenting the demand for food thickening agents. Alongside, processed food manufacturers are focusing on making their products more functional. Food thickening agents possessing attributes to address dysphagia, have garnered attention of processed food manufacturers, which has boosted its demand in the past half-decade. On the back of these dynamic consumption and production trends, demand for food thickening agents is expected to register a steady CAGR of 4%.
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Key Trends of Global Food Thickening Agents Market
Food thickening Agents Market: Segmentation
Fact.MR’s study has done the segmentation of food thickening agents market on the basis of application, source, and region.
Application
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Source
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Penetration into Newer Markets to Shape Competitive Landscape
With established regions reaching maturity in terms of demand for food thickening agents, market leaders have been penetrating newer regions to generate revenue streams. Archer Daniels Midland is one of the prominent companies, which has been highly active in acquisitions and partnerships. Other companies like Tate & Lyle PLC have invested heavily in order to increase production capacities of food thickening agents. These regional capacity expansions and investments by food thickening manufacturers has been done to establish their presence and gain foothold in newer regions.
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The post Global Food Thickening Agents Market to Witness an Absolute Dollar Opportunity of US$ 1 Bn Between 2019 and 2028 appeared first on The Cloud Tribune.
The article discusses the growth of the global food thickening agents market, projected to reach $1 billion by 2028.
Increased urban consumption and demand for processed foods are key drivers of market growth.
North America and Europe together hold around 60% of the market share.
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