Edible Thickening Agents Market Trends

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.