Hydrocolloids Market Analysis Report 2021 to 2022
Hydrocolloids Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 13,563.87 Million |
| Market Size by 2030 | US$ 20,851.46 Million |
| Global CAGR (2022 - 2030) | 5.5% |
| Historical Data | 2021-2022 |
| Forecast period | 2022-2030 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
COVID-19 Impact:
The COVID-19 pandemic affected almost all industries in various countries in North America, Europe, Asia Pacific (APAC), South & Central America (SAM), and the Middle East & Africa (MEA). Lockdowns, travel restrictions, and business shutdowns in these regions hampered the growth of the food & beverages and pharmaceuticals & nutraceuticals industries. The shutdown of manufacturing units disturbed global supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. Various companies witnessed and announced delays in product deliveries, along with the projection of a slump in sales of their products in 2020. All these factors had a negative impact on the global hydrocolloids market.
The demand for natural and clean-label products increased dramatically during the COVID-19 pandemic as consumers perceive natural products to be healthier than conventional ones. This factor propelled the demand for hydrocolloids in the food & beverages sector. Also, the demand for personal care products with vegan, cruelty-free, natural, and herbal claims increased during the pandemic owing to increased sustainability concerns. This factor indicate strong growth potential for the natural hydrocolloids market in the personal care and cosmetic space. Further, in 2021, the governments of various countries announced relaxations in the restrictions such as lockdowns, trade barriers, and business shutdowns, which led to a recovery in the marketplace. Also, the manufacturers were permitted to operate with full employee strength, which helped them overcome the demand–supply gap.
Competitive Landscape and Key Companies:
The Top 10 companies operating in the global hydrocolloids market are Cargill Incorporated, ADM, Ingredion, DSM, J M Huber, Tate & Lyle Plc, Kerry Group Plc, Gelita AG, International Flavors & Fragrances Inc, and American International Foods Inc. These players focus on developing plant-based, natural, organic, and clean-label flavor masking ingredients, which is expected to open new growth opportunities in the coming years.
Get Free Sample For