The global thickening agents market was valued at USD 18055 billion in the year 2018 and is anticipated to grow over USD 24.47 billion and record a CAGR of 5.7% during the forecast period of 2020-2025.
Global Thickening Agents Market Overview:
Thickening agents are substances utilized mainly for increasing the thickness of a fluid without altering its other properties. Food and beverages industry have great demand for these agents for increasing the thickness of food and beverages like sauces and soups without changing their tastes too. These agents also work as gelling agents in food products like hams, desserts and jellies. Moreover, they are also used as additives inks in cosmetics, paints and personal hygiene products. Thickening agents act as a stabilizer in personal hygiene products and cosmetics for an liquid. They also prevent clustering and settling in inks and paints. They are segmented into hydrocolloid and mineral thickening agents. Commonly used thickening agents include silica, cellulose, clay and starch.
Global Thickening Agents Market Dynamics:
Thickening agents change thickness in dietary makings consequently they benefit dysphagia sufferers with utilitarian features including ease of swallowing, bolus control and pulmonary aspiration hence booming the global market growth. Thickening agents are chiefly used in bakery application because of their properties like gelling and foaming to give cake and pastry batters proper mixing, low baking time and pH conditions. Increase in the count of specialized bakery product stores supported by growth in house baking developments will create positive effect on the global market. Adoption of healthier diet by consumers also contributes in increasing the market size of thickening agents. Another industry growing factor is increasing need for convenience nutrition products, which increased the use of thickeners because of their features such as palatability and ingredient emulsification hence increasing industry growth. The exciting features of nutritious products such as abundant supply, low price, easy availability and finest functionality make them popular among people. Mounting organic products have the potent to prevent illnesses like blood pressure, diabetes, obesity and high contagion problems in conventional dietary goods which will drive the market till the year 2025.
Global Thickening Agents Market Segmentation:
- Textile & fibers
- Food & beverages
- Paints & coatings
- Paper & paperboard
- Others (cosmetics, pharmaceuticals, and drilling fluids)
By thickening agent type
- Others (derivative, alginates and protein thickeners)
- Others (Ionic Minerals)
- synthetic polymer thickeners
- North America
Asia Pacific is among the fastest growing markets for thickening agents. There is growing demand for thickening agents in the regions like Europe and North America also because of the presence of food and beverages manufacturing industries in the regions. There is growing demand for thickening agents in Europe due to the huge manufacturing of paints as well as cosmetics. Because of the growth in food & beverages and Paints & coating industries in Asia Pacific, demand for thickening agents is anticipated to grow in the region. Hence, industry players are investing in the thickening agents greatly in rising countries for the expansion of their market place and share. Demand for thickening agents is increasing day by day due to their huge utilization in diversified functions. Increasing industrializing and changing living of standard are the important factors for increase in cosmetics and paints production and consequently driving the thickening agents market growth during the forecast period.
The global thickening agents market is extremely cutthroat with a huge number of industry players. Industry players adopt some crucial strategies such as acquisitions, agreements, collaborations, expansions, new product launches and joint ventures to attain growth in the market. There are many prominent key manufacturers of thickening agents operating in the market, which include the following:
- Cargill Incorporated
- CP Kelco
- The Dow Chemical Company
- BASF SE
- AKZO Nobel N.V.