Global hydrocolloids market is anticipated to grow at a CAGR 4.0% to 5.0% during the forecast period 2019 to 2024. Factors driving the global market are, large numbers of applications increasing demand of natural hydrocolloids. Global Hydrocolloids Market is segmented on the basis of Source, Type and Applications. The major sources of hydrocolloids are Plant, Microorganisms, Animal, Seaweed and Synthetic process. The major type of hydrocolloids studied in the report are Gelatin, Xanthan Gum, Carrageenan, Alginates, Agar, Pectin, Guar Gum, Locust Bean Gum, Gum Arabic and CMC. By applications, the market is segmented as Bakery & Confectionery, Meat products, Sauces & Dressings, Beverages and Dairy products. The hydrocolloids market is studied for North America, Europe, Asia-Pacific and Rest of the world.
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The meat products application segment is anticipated to grow at a higher pace than other applications of hydrocolloids during the forecast period 2024. The growth of the application segment is triggered by its hydrocolloids imparts water-binding capacity of meat products, improves texture and removes excessive fat in meat products. Hydrocolloids widely used across the various application as a thickener. The thickener segment accounted largest market revenue share, followed by gelling agent and stabilizer in 2017. North America is the largest market of hydrocolloids accounted largest market share in 2017.
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