Between 2016 and 2022, the market is expected to grow at a CAGR of 5.95 percent. Driving this growth are factors such as the growing demand for convenience foods, increasing consumer awareness toward healthier diets, and the discovery of multiple functionalities and advantages associated with the use of food thickeners.
Food thickeners are substances which can increase the viscosity of a liquid without substantially changing its other properties. As such, they are commonly used to thicken sauces and soups, as well as in desserts such as puddings.
Food thickeners are commonly based on either polysaccharides such as starches, vegetable gums and pectin, or proteins.
The starch segment accounted for the largest share in the market in 2015, and is also projected to be the fastest growing. Driving this growth is the easy availability and abundant supply across regions, optimum functionality, and relative lower cost price (compared with other sources). They are also preferred because they do not negatively impact the organoleptic properties of food.
According to the market research firm, plant-sourced food thickeners will also see a strong growth in the forecast period. This will be due to: cost-effectiveness of plant sources; abundant supply and readily availability; comparable nutritional value to other sources; and greater acceptance by both vegan and non-vegan populations.
With respect to regions, the Asia-Pacific region is expected to see the largest growth in demand and use of food thickeners during the forecast period. There is a growing volume of consumption of various types of food thickeners as food and beverage manufacturers in the region focus on product innovation, health aspects, and improving functional characteristics such as texture, flavour, and other organoleptic properties of their products.