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.
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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.
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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.