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Global Hydrocolloids Market to Reach USD 13.6 Billion by 2026, Aided by the Rising Pharma Expenditure

According to a new report by EMR titled, 'Global Hydrocolloids Market Report and Forecast 2022-2027', the global market for hydrocolloids reached a value of USD 9.3 billion in 2020. The market is further expected to grow at a CAGR of 6.5% in the forecast period of 2022-2027 to attain USD 13.6 billion by 2026.

The global market for hydrocolloids has North America as the largest consumer market for hydrocolloids. The market is being driven by the oil well drilling and huge pharma expenditure. The Asia Pacific and the United States are the leading producers and consumers of hydrocolloids. In Europe, Germany and France are the biggest consumers of the product, propelled by the rising pharmaceutical and food industries. Hydrocolloids refer to the colloid system that becomes a gel-like consistency when it comes into contact with water. It dilutes into the water and forms gel or solution on the basis of the availability of water. Hydrocolloids can be both reversible and irreversible. For example, agar is a reversible hydrocolloid of seaweed extract and can exist in the gel as well as solid-state and alter its states by heat inclusion or exclusion.

Kerry Group plc (LON: KYGA) and Archer Daniels Midland Company (NYSE: ADM) are the major key players in the market. In September 2016, Kerry Group’s seaweed processing facility was acquired by W Hydrocolloids, Inc. (WHI), which is a pioneer in the seaweed industry in the Philippines, along with being a front runner in food ingredients and systems innovation globally under the brand Rico Carrageenan. With the acquisition of Kerry Group, all assets come to WHI. WHI has a total of 3 fully owned seaweed processing facilities in the Philippines for the manufacture of well-refined carrageenan, which is a first fully automated carrageenan facility in Asia. Such mergers and acquisitions by the key players in the industry are expected to support the market growth in the coming years.

Market Analysis by Product and Region:

  • The hydrocolloids industry, on the basis of product, is divided into corn starch, guar gum, carrageenan, and xanthan gum, among others. 
  • Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for hydrocolloids is being driven by the oil well drilling and healthy pharma expenditure. 
  • The increasing demand from the oil and gas industry and food sector for the hydrocolloids products is aiding the market growth of hydrocolloids.
  • The rising health awareness among the consumers about the diverse functionality of hydrocolloids is enhancing the market growth.
  • The increase in the production of guar gum, which is affected by the oil and gas industry due to guar gum's ability to maintain viscosity and reduce the friction during the stimulation process and oil well fracturing, is aided the market growth. 
  • The sustainable qualities of guar gum, such as natural thickness and bio-degradability, is further invigorating the market growth of hydrocolloids.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for hydrocolloids for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the products and regional markets of hydrocolloids. 
  • It gives an in-depth look at the regional price trends in the global market for hydrocolloids for the periods (2017-2021) and (2022-2027).
  • It analyses the global trade data, looking into the value and volume of the significant importing as well as exporting countries.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

Cargill, Incorporated, Archer Daniels Midland Company, Ingredion Incorporated, Kerry Group plc, Lotus Gums & Chemicals, and Daicel Corporation, among others, are the key players in the global hydrocolloids market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.

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