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By 2026, Europe Food Thickeners Market Value to Surge Over USD 2.5 Bn
Published Date: 2020-09-30
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According to the Graphical Research new growth forecast report titled “Europe Food Thickeners Market Growth By Product (Starch [Corn, Potato], Hydrocolloids [Xanthan, Gelatin Gum, Guar Gum, Carrageenan, Agar Agar], Protein [Egg white, Gelatin, Collagen]), By Source (Plant, Microbial, Animal), By Application (Bakery & Confectionery, Food & Nutrition, Beverages, Dairy & Frozen Desserts, Sauces & Dressings, Meat)”, Estimated to Exceed USD 2.5 Billion by 2026.
Europe is one of the key food & beverages manufacturers globally, which offers lucrative growth opportunities for food thickeners market. Aging population along with growing focus on health among consumers in the region has prompted demand for healthier, fresh, organic and value added baked goods which use thickeners in their preparations. Thickening agents or thickeners are used in pudding, pie, fillings and stews. Products including corn starch can be used as a thickening agent in stews and apple pie. These products can also be used in cream based bakery products including puddings, cream rolls and banana cream pie. These factors may fuel market growth in forecast timeframe.
Increasing disposable income and shifting lifestyle supported by cultural changes and immigration is anticipated to propel bakery products demand, which will thereby drive market size in anticipated timeframe. Bakery products including breads and biscuits are popular among European consumer. These products are heavily dependent upon thickening agents due to the need for controlling viscosity of the solution through which bakery products are manufactured.
Increasing consumer inclination towards chemical free and safe products is likely to drive Europe food thickeners market size in the forecast timeframe. Companies are focusing on R&D activities in order to cater the growing product demand along with new product launches for sustaining in the market.
Protein based food thickeners segment will witness a growth of 5.5% over the forecast period, accounting for market revenue of USD 3,007.8 Million in 2019. Protein thickeners are predominantly incorporated in bakery products for icing of cakes & pastries. These thickeners are even utilized as foaming agents owing to its superior foaming attributes. Gluten incorporated bakery products poses numerous side effects including headaches, diarrhoea and abdominal pain owing to which there has been rising trend of replacing gluten with safer food additives including thickeners. Thus, these factors are driving market in forecast timeframe.
Europe nonalcoholic beverages market is expected to reach over USD 633 billion by 2023. Shifting regional consumer preference towards nonalcoholic from alcoholic beverages owing surging ill health and addiction risks should accelerate regional nonalcoholic beverages market growth. The beverages application segment occupied a market share of around 19.9% in the market. These thickeners are being predominantly utilized in various beverages including fruit pulps, juices, and energy drinks, which help to achieve desired viscosity and enhanced foodstuff texture without deteriorating their nutritional value which should propel industry growth. Growing nutritional and energy drinks consumptions due to booming health awareness will foster non-alcoholic beverage manufacturing thereby, fortifying product demand.
Key players in the Europe food thickeners market are Ingredion, Darling Ingredients, Jungbunzlauer, Ashland, Food Group, CP Kelco, ADM, Cargill, DSM and DuPont.