DUBLIN, June 09, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/3g5p7b/north_america) has announced the addition of the "North America Food Hydrocolloids Market-Growth, Trends And Forecast (2015-2020)" report to their offering.
The food & beverage hydrocolloids market in North America is estimated to $2,836 million by 2020, at a CAGR of 4.8% from 2015 to 2020.
The market is largely driven by increased Research & Development and innovations in hydrocolloids. Consumer preference for natural ingredients and the varied applications of hydrocolloids in the food and beverage industry are some of the reasons for the uptick in demand. The changing consumer demographics in terms of lifestyle changes and growing working population resulting in consumer demand for convenience and processed foods. This is seen as an opportunity for the manufacturers to adopt hydrocolloids in their manufacturing process. However, the market is mainly constrained by the demand - supply imbalances. Seasonal changes cause volatility in the raw material pricing, thus raising costs for manufacturers. In spite of restrains, the market sees huge potential for growth.
The market is segmented based on type which includes gelatin, xanthan gum, starch, carrageenan and others. Majority of the hydrocolloids require raw materials to be sourced from seaweeds, plants, animals and microorganisms. Hydrocolloids are used for a wide range of applications, such as bakery, confectionery, meat & poultry, beverage, and dairy & frozen products. Bakery and Confectionary dominate the market share for hydrocolloids. I
n 2013, North America was the largest market for hydrocolloids followed by Europe. In North America, the U.S. market accounted for the largest share that is of 84.11% in the year 2013. Canada and Mexico dominate the market for Gelatin and Pectin.
The major players in the food hydrocolloids market include CP Kelco, Cargill Inc., Ashland Inc., Kerry Group, Hawkins Watts, DuPont, and Royal DSM .
The key strategies being used by these market players are that of focusing on expansion of new facilities and launching new products & Services.
- Cargill Inc
- CP Kelco
- Kerry Group
- Royal DSM
- Hawkins Watts
- Behn Meyer
- TIC Gums corporation
- Darling Ingredients Inc
- Penford Corporation
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SOURCE Research and Markets