Market Analysis —
Food texturants are food additives, which help to modify the physical properties of food and beverages. Food texturants are gaining popularity in the food and beverage industry as the texture is an integral part defining the quality of the product. A product with an undesirable texture can easily deter a consumer from repurchase, even if it has great flavor and color. Therefore, food manufacturers are inclined towards food texturants, which is driving the growth of the market. The most common types of the food texturants include hydrocolloids, gums, stabilizers, and others.
The changing lifestyle and food habits are the key drivers of the market fueling the demand for food texturants. The consumers are better informed and aware about the effects of food additives. Therefore, organic food texturants have catapulted the market growth in response to the demand for clean label food. The application of texturant in enhancing the taste of food is a significant factor for propelling expansion of the global market. Another factor responsible for the growth of the market is increased disposable income of the consumers coupled with an inclination towards eating healthy and scrumptious meals. The booming food & beverage sector with bullish trend witnessed in industries such as bakery and confectionery, dairy and frozen desserts, oil and fats, sweet and savory snacks, etc. has catapulted the revenue generation of the market.
The stringent laws and regulations may hamper the growth of the market moderately during the projection period from 2017 to 2023.
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Leading Key Players Analysis
The competitive landscape of Global Food Texturants Market represents fierce competition where the prominent players of the market strive to gain an edge over others by responding to changing market trends. The market operators undertake initiatives such as research & development, innovative production technology, mergers & acquisitions, etc. to strengthen their footholds in the market. Some of the top-notch players profiled by MRFR in its report are
• EST Archer Daniels Midland Company (U.S.),
• DuPont Nutrition & Health (Denmark),
• INGREDION INCORPORATED (U.S.),
• Kerry Group PLC (Ireland),
• Cargill Incorporated (U.S.),
• AJINOMOTO (Japan),
• Tate & Lyle PLC. (U.K.)
DuPont Nutrition & Health (N&H) has received necessary approvals from the European Commission (EC) for divesting its heritage DuPont N&H Alginates business to JRS Group, which is a manufacturer of functional additives sourced from plant-based raw materials. The divestiture is expected to be completed by third quarter of 2018. The transaction encompasses alginate business which consists of pure and buffer alginates, a core portfolio of pectin-alginate blends, along with associated customer relationships and Landerneau production site.
By type, the Food Texturants Market is segmented into Hydrocolloids, Gums, Stabilizers and others. Hydrocolloids segment holds a significant share in the market owing to factors such as easy availability, optimum functionality, and relatively lower price of starch in the market.
By application, the market is segmented into bakery and confectionery, dairy and frozen desserts, beverages, oil and fats, sweet and savory snacks, meat products, and others. The market will be dominated by oil and fats segment while plausible growth will be demonstrated by bakery and confectionery segment trailed by dairy and frozen desserts segment.
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By region, the global Food Texturants Market has been segmented into North America, Europe, Asia Pacific and Rest of the World (RoW). Europe segment will dominate the market owing to factors such as increasing demand for clean label products, booming food & beverage sector, raising awareness, changing food habits, etc. North America segment holds the second spot in the market due to growing demand for processed food and inclination towards food additives. Other factors responsible for the market growth in this segment are adoption of next-gen technology, concentration of significant players, increased research & development activities, raising awareness about healthy lifestyle, etc.
Asia Pacific segment is poised to be the fastest growing segment with major revenue contributions from countries like India and China. Brazil will also exhibit moderate growth due to increasing demand for texturants and emulsifiers. The Rest of the World (RoW) segment is expected to expand moderately due to growing demand for food texturants.
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