Market Overview:
Food texturants are food additives used for providing texture and mouthfeel to the food dishes. The texture of the food products should be appealing enough to grab the attention of the consumers. The texture is one of the delivery mechanisms for taste. Rising number of ingredients used in the production process of any food products is creasting a need for food texturants in the market. The common food texturants include hydrocolloids, gums, stabilizers and others. They are widely used in various industries such as bakery and confectionery, dairy and frozen desserts, beverages, oil and fats, sweet and savory snacks, meat products, and others.
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Food texturants are primarily extracted from a natural substance and used as a direct additive in products to provide the required physical appearance to the food products. Increasing inclination towards processed foods in developed countries is driving the market for food texturants. Consumers are constantly looking for new and satisfying sensory eating and drinking experiences which is influencing the food manufacturers for increasing the demand for food texturants.
Growing demand for processed meat and seafood is adding fuel to the growth of food texturants market. Moreover, new processing techniques used for product development have also perpetually raised the market for food texturants. However, few stringent laws and regulations may restrain the growth of the market during the estimated period. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 6.3% of food texturants market during the forecast period 2017-2023.
Downstream Analysis:
Based on the type, food texturants market is segmented into hydrocolloids, gums, stabilizers, and others. Among all, hydrocolloids are projected to dominate the market in which starches are projected to gain substantial growth based on its easy availability, optimum functionality, and relatively low price in the market. Moreover, xanthan gum is gaining popularity in salad dressings, chocolate milk, bakery fillings, puddings and other foods to add texture.
On the basis of application, food texturants market is segmented into bakery and confectionery, dairy and frozen desserts, beverages, oil and fats, sweet and savory snacks, meat products, and others. Among all, the bakery and confectionery segment is dominating the market followed by the dairy and frozen desserts market. In bakery and confectionery, texturants are gaining popularity to assist with uniform distribution and suspension of fruit or other inclusions such as nuts and chocolate chips.
Competitive Analysis:
The major players in the Food Texturants Market:
Archer Daniels Midland Company (U.S.)
Kerry Group PLC (Ireland)
Cargill Incorporated (U.S.)
DuPont Nutrition & Health (Denmark)
AJINOMOTO (Japan)
INGREDION INCORPORATED (U.S.)
Tate & Lyle PLC. (U.K.)
Regional Analysis:
The global food texturants market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Europe is dominating the market followed by North America. High inclination towards processed foods in developed countries such as Canada and the U.S. is driving the food texturants market in North America. Germany and the U.K. are the major contributors to food texturants market, in Europe.
The Asia Pacific is expected to be the fastest growing market over the forecast period owing to changing lifestyle and consumption pattern in developing countries such as China and India. Moreover, Latin American, the Middle East, and African countries are projected to witness an increased demand for texturants during the estimated period. Market Segmentation:
Food Texturants Market is Segmented on the basis of Type, Application, and Region.
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