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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.
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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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