Sales of food thickening agents are predicted to surpass $4.4Bn by 2028 end, up from approximately $2.9Bn in 2018, according to a recent report. The food thickening agents market is substantially influenced by the broader trends of product innovations witnessed in the food and beverage industry.
The study finds that food thickening agents hold a significant position in the food and beverage industry as a large number of consumer’s exhibit marked affinity towards healthy food products. The report opines that in addition to these broader trends, demand for food thickening agents also remains influenced by explicit factors such as medical conditions and aging that cause dysphagia and prevent the ideal swallowing process among individuals.
According to the report, gains of the food thickening agents market have been complemented by rising sales of food thickening agents to enhance the viscosity of the food products without taking a toll on their flavor and taste. However, volatility in the raw material prices that cause instability in the prices of the finished product could impact the growth of the food thickening agents market during the predicted timeframe.
The report finds that the demand for food thickening agents has been on a surge, on account of the rising awareness among consumers pertaining to the clean label products. Stringent mandates legislated by the government against the use of chemical-rich additives that pose health threats have been causing a shift among the consumers towards clean and organic products. Additionally, increasing health consciousness among the consumers have compelled them to avoid food products with artificial additives that result in health issues in the long run. As a result, manufacturers of the food thickeners have been striving towards offering premium quality products, which in turn is anticipated to bode well for the growth of the food thickening agents market through 2028.
With rising trends of consumers drifting away from fried food products, bakery items have been reigning the food shelves. Realizing the demand for healthy products, manufacturers of the bakery items have been fueling innovation and expanding their product offerings. As a result, food thickening agents have been extensively used as fat replacers in the preparation of cakes, biscuits, and cookies. Launch of gluten-free thickeners has further surged the demand for food thickening agents in bakery and confectionery applications, which is predicted to drive upward growth of the food thickening agents market.
The study finds that Asia Pacific excluding Japan is anticipated to mark a high growth rate for the food thickening agents market on account of the following drivers:
- Dairy industry has been fueling the demand for food thickening agents with the growing scope of food innovation. As consumers tend to adopt a healthy lifestyle, there has been a rising demand for dairy products, which is predicted to uphold the sales of food thickening agents.
- With the rising number of supermarkets/hypermarkets and ecommerce portals, sales of food thickening agents have been surging with the effective product positioning strategy employed by the manufacturers.