Hydrocolloids Market to Grow at 4.95% CAGR by 2030
Increasing use of hydrocolloids in the food and beverage industry has played a significant role in the hydrocolloids market growth.
According to a new research report by Next Move Strategy Consulting, the global Hydrocolloids Market was valued at USD 13.14 billion in 2021 and is expected to reach 20.20 billion by 2030, at a CAGR of 4.95% during the forecast period 2022–2030.
With the increasing sales of processed food as well as the rising hydrocolloids use in the oil and gas industry, hydrocolloids sales are experiencing rapid growth. Furthermore, hydrocolloids dressings are used to provide care for surface wounds, skin ulcers, first and second-degree burns, and abrasions or wounds, thereby driving the growth of the hydrocolloids market.
On the contrary, factors such as unskilled labour force and government regulations related to restrictions of hydrocolloids are hampering the hydrocolloids market growth to some extent. However, rising adoption of ready meal products and convenience food that uses hydrocolloids to enhance quality and shelf life of food products provides opportunities for the hydrocolloids market growth in the future.
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According to the report, some of the leading market players in the hydrocolloids market are Cargill Inc., CP Kelco Inc., Kerry Group PLC, DSM N.V, Archer Daniels Midland Company, Ashland Global Holdings Inc., Hawkins Watts Ltd., Gelnex Industria e Comercio Ltd., Taiyo Kagaku Co. Ltd. and Fiberstar Inc.
Key Insights from the Hydrocolloids Market Report:
The information related to key drivers, restraints, and opportunities and their impact on the hydrocolloids market is provided in the report.
Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.
- The market share of the players in the global hydrocolloids market along with their competitive analysis is provided in the report.