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Food Thickeners Market size was valued at USD 8.94 billion in 2023 and is expected to reach USD 18.61 billion by 2036, registering around 5.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of food thickeners is assessed at USD 9.35 billion.
Rising global food consumption levels and increasing affinity towards desserts and sugar-rich foods are some of the significant factors estimated to boost the market growth. Additionally, the growing vegan movement globally is expected to drive the market, on account of which the food thickeners market is estimated to grow with substantial CAGR during the forecast period,
Growth Drivers
Rising food consumption levels globally
According to FAO (Food and Agricultural Organization), the global food consumption levels have been increasing at a tremendous pace since the 1960s.. The kcal per capita per day measure is the metric that is used and the data shows that in 1960s the global dietary energy is average 2358 kcal per capita per day globally and by 2030 it is projected to be around 3050 kcal per capita per day. The data clearly indicates the huge rise in global food consumption levels in the upcoming years. Increase in disposable incomes leading to the rise in consumer spending especially on the products of FMCG is anticipated to positively influence the food thickeners market. These are some of the considerable factors that are estimated to promote the growth of the market. Additionally, this growth is backed by growing affinity towards bakery and confectionery products.
Veganism – a global movement
On the back of growing vegan activism across the world, there is a huge surge in demand for vegan products containing significant amounts of food thickeners especially plant extracted additives such as cornstarch and agar-agar which ensure stability and preservation. This, in turn, is estimated to drive the food processers to introduce vegan products as a part of their product portfolio.
Challenges
Rising Health Consciousness among People
It was reported by IHME, that in 2017, 4.7 million deaths globally were caused by obesity and majority of the cases were reported in urban areas of the world where reduced activity and poor diets were attributed to accelerate it. According to World Health Organization (WHO), in 2019, 38 million children under the age of 5 were overweight. The addition of these emulsifying agents results in higher fat and sugar content of the foods and eventually leads to obesity in children or CVDs in adults. The increasing health consciousness is expected to have a negative impact on the food thickeners market growth.
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Base Year |
2023 |
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Forecast Year |
2024–2036 |
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CAGR |
5.8% |
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Base Year Market Size (2023) |
USD 8.94 billion |
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Forecast Year Market Size (2036) |
USD 18.61 billion |
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Regional Scope |
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Based on type, the food thickeners market is bifurcated into polysaccharides and proteins, out of which, the largest share in the market is anticipated to be held by polysaccharides on the back of products like cornstarch and tapioca. This can be attributed to the properties of suspension and stability of these thickening agents in food processing. The market is further segmented by nature of the edible agents into organic and inorganic segments. Out of these segments, the organic segment was the largest revenue generating segment in 2019 owing to the availability of various buying options pertaining to the product category and preference of consumers. Additionally, the growing affinity towards desserts and sugar-rich foods is predicted to contribute to the growth of the segment.
Our in-depth analysis of the global food thickeners market includes the following segments:
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Product |
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Technology |
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Application |
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End-User |
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On the basis of regional analysis, the food thickeners market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America industry is estimated to account for largest revenue share by 2036, propelled by increase in demand for convenience food, beverages and veganism in the region. which manufacture and market these food thickeners. Moreover, the increase in demand for convenience food, beverages and veganism in this region is estimated to increase the product demand. The food thickeners market in Asia Pacific region is predicted to grow at the highest rate during the forecast period as a result of rising disposable incomes and food consumption levels. The rising affinity towards frozen desserts in the region, especially in countries such as China, India and Japan is further resulting in the increased demand for food thickeners.
Author Credits: Parul Atri
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