Sales of Food Thickening Agents Soar Steadily in Line with Upsurge in Demand from Bakery Products

DUBLIN 2, Ireland - March 31, 2020 - PRLog -- Remarkable expansion of the processed food sector has propelled the utilization of ingredients such as food thickening agents. Projecting the market growth at a steady CAGR of 4% during 2019 – 2028, a new market study by Fact.MR provides an inclusive analysis of the food thickening agents market. Unavailability of alternate food components and growing consumer inclination towards clean labeled products augur well for the market growth, says the report.

Food Thickening Agents Market - Key Takeaways

• Plant and seaweed-based thickening agents remain sought-after, with a collective share of 50% in market value.
• Applications in bakery & confectionery are projected to grow 1.6X over the forecast period.
• Leading manufacturers are investing heavily on increasing production capacities.
• North America and Europe to remain regional leaders in the food thickening agents market with a collective share of 60% in the global market.
• Asia Pacific region to exhibit tremendous growth and is projected to double its market share during the forecast period.
• Significant investments in the production of thickening agents such as guar complex in India is expected to further boost the market.

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Food Thickening Agents Market - Key Driving Factors

• The surge in production of bakery & confectionery items, sausages, dressings, and soups, coupled with lack of substitutes is escalating the demand for food thickening agents to cater to the growing urban consumption.
• Attributed by their trait to lower swallowing difficulties (dysphagia), food thickening agents have gained traction from processed food manufacturers, thereby boosting demand.
• Manufacturers - in the path of exploring new herbs to extract agents from - are introducing vegan and gluten-free products, further bolstering the market.

Food Thickening Agents Market - Key Restraint

• Fluctuations in prices of food thickening agents and high cost associated with research and development activities to produce new variants continue to challenge rapid market growth.

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Competition Landscape
Some of the key players in the food thickening agents market are CARGILL, Ingredion Inc., CP Kelco, Darling Ingredients, and Archer Daniels Midland Company (ADM), among others. These pleading players are predominantly present in North America, Europe, and Australia. In addition to research and development activities, the manufacturers are focusing on mergers, acquisitions, and joint ventures by top-tier players to increase their market share and global footprint in the food thickening agents market.