The hydrocolloids market was valued at USD 9.7 billion in 2020 and is projected to reach USD 12.6 billion by 2025, at a CAGR of 5.3%. The growth of the hydrocolloids market is driven by factors such as the expansion of the processed food industry due to the increasing demand for convenience foods in regions such as the Asia Pacific, South America, and the Middle East & African. Apart from this, manufacturers are engaged in R&D to offer high-quality hydrocolloids due to its multi-functionality in the food industry.
The key players in the hydrocolloids market include Dupont (US), Ingredion (US), Cargill (US), Kerry (Ireland), Archer Daniels Midland Company (US), Palsgaard (Denmark), Darling Ingredients (US), CP Kelco (US), Ashland (US), BASF (Germany), Tate & Lyle (UK), Glanbia (Ireland), Fuerst Day Lawson (UK), Koninklijke DSM N.V (Netherlands), and Nexira (France) are the players that hold a significant share in the hydrocolloids market.
Ingredion (US) is a major player in the hydrocolloids market. The company sells its hydrocolloids products in over 120 countries at a global level. The company offers hydrocolloids such as agar, sodium alginate, carrageenan, microcrystalline cellulose, cellulose gum, pectin, and xanthan gum under its brand, Coyote. These hydrocolloids are used as stabilizers in the food industry. The company caters to over 120 countries and is present in all major regions, such as North America, South America, Europe, Asia Pacific, and the Middle East & Africa
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Ingredion has 37 manufacturing facilities, 6 R&D centers, and sales offices in over 40 countries. The company has its global presence and has a wide geographic reach. During November 2019, Ingredion Inc. expanded its presence in Mexico by inaugurating a new plant of Allulose. The facility would aim at manufacturing various specialty ingredients.
DuPont is a multinational conglomerate that operates in the animal nutrition & health, dietary supplements ingredients, fabrics and fibers, microbial control solutions, and packaging materials & solutions industries. DuPont Nutrition & Biosciences provides hydrocolloids, food flavors, and ingredients. Danisco A/S operates as one of the subsidiaries of DuPont and is a food ingredient solutions provider for the group. The company is a part of the nutrition & biosciences division of the group and is structured into two business lines, namely, food ingredients and industrial enzymes. The company serves more than 70 countries. It has its presence in North America, Asia Pacific, Europe, the Middle East, Latin America, and Africa. In December 2019, DuPont’s Nutrition and Biosciences business segment merged with International Flavors & Fragrances (IFF) (US). The deal was sealed with USD 45.4 million. This merger will boost the company’s global reach and enhance its innovation and thus strengthen its product portfolio to provide a wide variety of products for the food & beverage industry.