Projected for a healthy revenue growth of over 7% year over year in 2019, the global consumption of food texturizing agents is likely to represent a value of over US$ 10.5 Bn.
Consistent functional evolution of food texturizing agents and a growing number of sources delivering food texturizing agents of superior quality and desired functionality will continue to further augment consumption at a global level.
As indicated by a newly published research intelligence by Persistence Market Research, the global market for food texturizing agents is primarily driven by the sustained issue of difficulty swallowing – more prominently in geriatric population.
“Nestlé Health Science S.A. has been initiating collaborative deals with healthcare providers, for strategic portfolio expansion. The company along with respective healthcare companies intends to step in the development of different texturizing thickeners for dysphagia patients,” explains a senior market research analyst at PMR.
Largest Volumes of Texturizing Agents Are Poured in Bakery & Confectionary
Escalating consumption of convenience foods, dramatically growing innovation and demand for bakery and confectionary products, and rapidly improving prospects for daily industry in the modernized F&B industry are cited as the key factors driving demand for volumes of food texturizing agents worldwide.
While the modern consumer insists adherence to a decent nutritional profile, shelf stability, transparent labels, and competitive prices while purchasing processed foods, research repeatedly highlights that the texture and taste remain non-negotiable. Food texturizing agents are thus most likely to continue witnessing robust demand over the foreseeable future.
With a prominent functional versatility that covers gelling, emulsification, texture modification, thickening, and protein stabilization, food texturizing agents find a wide applicability in an extensive selection of processed packaged foods and beverages – such as gravies, soups, sauces and dressings, jams and jellies, toppings, marmalades, dairy products, fruits juices, and other beverage products.
- The end use assessment of food texturizing agents landscape uncovers that bakery and confectionary is the only end use segment that reflects healthy yearly growth prospects and a hefty incremental opportunity in 2019 and ahead – the current market value share is more than 35%.
- Other end use segments including dairy, meat & poultry, sports nutrition, beverages, and sauces & dressings are likely to observe sluggish growth, as indicated by the report. Dairy however holds a sizable share in the market at present, says research.
Thickeners Remain Most Favored, Animal-sourced Texturizing Agents to Arise
Functionally, thickeners and gelling agents continue to dominate the food texturizing market scenario. However, a relatively higher incremental opportunity is indicated by the report for thickeners that currently hold a market value share of more than 40%.
Based on the source-wise analysis of food texturizing agents market, plant and seaweed sources cumulatively cover more than 75% share of the total market revenue. However, the report indicates a lucrative incremental opportunity for animal source – prominently owing to the considerably high demand for gelatin, especially in the bakery and confectionary section.
Key Market Players to Target Healthful Consumables
Key players are augmenting investments in R&D of healthful products that specifically cater to the evolving demands of an expanding health conscious consumer chunk. Companies are experimenting with novel formulations of texturizing agents – boosting growth of the food texturizing agents landscape.
Of late, instant consumables such as RTE foods and RTD beverages such as coffee and tea are trending the food texturizing agents market. While flavor innovations have been a key consideration for manufacturers over the years, functional application of food texturizing agents in a range of healthful foods and drinks is briskly emerging as a popular trend among manufacturers of processed food and beverage products, as well as texturizing agents.
Low-fat and low-sugar products that are constantly enjoying higher adoption in recent past are likely to boost consumption of calorie and sugar replacing texturizing agents, says the report.
Opportunities in Infant Food and Pet Food Are Still Relatively Untapped
Lucrative opportunities reside in the baby food/infant formula segment, as texturizing agents tend to effectively address the most common baby health issues such as gastro esophageal reflux and dysphagia. The availability of innovative products in the infant formula line points to a heap of untapped opportunities for texturizing agent manufacturers, according to the report.
Texturizing agents maintain their stability during the entire food processing cycle. In addition, texturizing agents enhance the shelf life of products. These two attributes account for superior quality product stabilizations, thus pointing to multiple investment opportunities lying in the canned pet food section, a relatively niche segment.
Elaborating on the recent happenings that are shaping the competition landscape of food texturizing agents market, the analyst explains, “Earlier this year, Cargill, Incorporated introduced an innovative offering to their Satiagel Seabrid range. The new carrageenan extract is entirely based on cultivated seaweed and is claimed to be an economical and sustainable texturizing alternative especially for dairy manufacturers. With this new product launch, the company intends to expand the existing Seabrid™ portfolio that has been delivering premium texturizing solutions to manufacturers of creamy dairy desserts”.
Adding to this, “Darling Ingredients Inc. also launched a new gelatin solution – SiMoGel recently. Two new instant starch products have been added to Tate & Lyle PLC’s portfolio. The company has introduced these products under the name – Claria,” says the analyst.
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North America and APAC Remain Hotspots of Market Growth
- Growing R&D investments for NPD and a rising trend of strategic deals with leading food ingredients manufacturing companies continue to uplift North America’s food texturizing agents market.
- Whereas, the market for food texturizing agents in Asia Pacific is likely to gain a major boost by consistent R&D of region-specific products. Improving distribution network is also presented as a strong factor driving market growth across Asian economies, in the report.
- With a massive incremental opportunity anticipated for next few years, APAC is positioned on the track heading towards 1/4th share of the total market revenue.