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Plant Based Thickener Market Size, Share Global Analysis Report, 2023 – 2030
Plant Based Thickener Market Size, Share, Growth Analysis Report By Application (Canned Soups & Sauces, Ice Cream, Cheese Cream, Meat Coating, Seasoning, Yogurt, Baked Goods, Jellies, Jams & Marmalades, And Others), By Type (Starch, Vegetable Gums, And Others), By Nature (Conventional And Organic Thickeners), By Price (Regular Thickeners And Premium Thickeners), And By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2023 – 2030
Industry Insights
[221+ Pages Report] According to Facts and Factors, the global plant-based thickener market size was valued at USD 3.49 billion in 2022 and is anticipated to reach USD 6.84 billion during 2023-2030. The plant-based thickener market is expected to grow at an annual compound rate of 8.86% during the forecast period.
The plant-based thickener industry report comprehensively analyzes the market’s growth factors, barriers, opportunities, and challenges during the forecast period. It also covers the geographical market and offers a comprehensive study of the competitive landscape in the global marketplace.
Market Overview
Plant-based thickeners are extracted from plant sources like seeds, legumes, vegetables, fruits, and others. The plant-based thickeners are viewed as sustainable alternatives to animal-sourced ingredients like animal fats and gelatin. These ingredients improve the consistency and texture of the food products.
Also, these are highly utilized to enhance the overall sensory appeal, stability, and mouth feel of a wide range of products to compete with their animal counterparts. Some of the widely used plant-based thickeners include guar gum, xanthan gum starches, pectin, arrowroot, etc.
Key Insights
- As per the analysis shared by our research analyst, the global plant-based thickener market size is estimated to grow annually at a CAGR of around 8.86% over the forecast period (2023-2030).
- In terms of revenue, the global plant-based thickener market size was valued at around USD 3.49 billion in 2022 and is projected to reach USD 6.84 billion by 2030.
- Rise in the vegan lifestyle is likely to drive the growth of the global plant-based thickener market.
- Based on the application, the baked goods segment accounts for the largest share of the global market.
- Based on the type, starch is the fastest-growing segment in the global market.
- Based on nature, the organic segment is likely to dominate the global market.
- Based on the price, the regular thickeners segment is anticipated to observe notable growth in the global market.
- Based on region, North America is expected to dominate the global market during the forecast period.
Growth Drivers
- Rise in the vegan lifestyle is likely to boost the growth of the global market.
An increasing number of people adopting a vegan lifestyle is likely to drive demand for plant-based food products like thickeners to cater to the surging demand from end users. Also, these plant-based ingredients are a good alternative for people with dietary restrictions. Manufacturers are offering gluten-free and allergen-free food options to appeal to a broader customer base which is also likely to support the growth trajectory of the global plant-based thickener market.
People are seeking transparency in food ingredients, and plant-based thickeners fit well within the clean label concept, which is another major reason for the fast growth of the industry. Increasing health and environmental benefits of consuming plant-based diets are allowing customers to explore the market and seek tasty & healthy alternatives.
However, such a landscape has significantly positively influenced the growth parameters in the industry. For instance, Cargill, in March 2019, successfully took over Smet to expand the company’s investment in food thickening agents. Smet is a Belgian supplier of sweets and chocolate decorations.
Restraints
- High cost and technological limitations are likely to restrain the growth of the global market.
The plant-based thickeners are quite expensive than their animal counterparts. The production and sourcing cost of plant-based ingredients is a little complex and, therefore, expensive, which is likely to restrict people from opting for plant-based diets.
However, technological limitation is another restraining factor in the plant-based thickener industry. Formulating plant-based thickeners to achieve consistency and texture very similar to conventional food requires complex technology. However, the lack of advanced technology in the food sector is expected to impact the growth of the industry in the coming years.
Opportunities
- Technology advancements in the food industry are likely to offer growth opportunities in the global market.
Manufacturers are investing heavily in the food industry to boost their research and development activities in order to come up with product innovations to acquire a larger marketplace. The food industry is witnessing the development of new plant-based thickeners with enhanced applications and functionalities to mimic the exact mouthfeel and texture of their animal counterparts.
However, such a landscape is likely to expand the market potential in the coming years. Government initiatives are further widening the scope of the industry. Government regulations are addressing health and sustainability concerns because of the high consumption of animal-based products, which in turn is expected to positively influence the growth of the plant-based thickener industry.
For instance, Cargill, on June 22, signed a binding agreement to buy Delacon, an Austrian-based global leader in photogenic additives, which are plant-based ingredients gaining popularity all across the global marketplace.
Challenges
- Consumer preference for familiar ingredients is a big challenge in the global market.
Consumers are still accustomed to conventional animal-derived thickeners because of their taste and mouthfeel. Therefore, people are a little hesitant to adopt plant-based thickeners because of their unfamiliar taste and texture, which in turn is a big challenge for manufacturers in the global plant-based thickener market.
Segmentation Analysis
The global plant-based thickener market can be segmented into application, type, nature, price, and region.
By application, the market can be segmented into canned soups & sauces, ice cream, cheese cream, meat coating, seasoning, yogurt, baked goods, jellies, jams & marmalades, and others. The baked goods segment accounts for the largest share of the global plant-based thickener market. Increasing urbanization globally is hitting the demand for processed foods.
Baked goods like pastries, cakes, bread, and cookies need certain thickening agents to achieve the required consistency and texture. However, the demand for plant-based baked goods is on the rise because consumers are becoming more health-conscious and environmentally aware.
By type, the market can be segmented into starch, vegetable gums, and others. The starch segment can further be bifurcated into tapioca starch, cassava starch, cornstarch, potato starch, and others. The vegetable gum segment can further be bifurcated into cellulose gum, locust bean gum, agar gum, xanthan gum, guar gum, and others. Starch is the fastest-growing segment in the plant-based thickener industry.
Starch-based thickeners are likely to witness a variety of applications in the food sector, like dairy alternatives, dressing, soup, sauces, baked goods, and more. Their versatility makes them ideal ingredients, thereby gaining much attraction among food manufacturers. Also, starch is viewed as a clean-label natural ingredient that fulfills the growing demand from consumers for recognizable food ingredients.
By nature, the market can be segmented into conventional and organic thickeners. The organic segment is likely to dominate the growth of the global plant-based thickener market during the anticipated period. Consumers are becoming highly aware of their health and environment, which is leading them to prefer more organic and natural products. Organic ingredients are viewed as a more sustainable and healthier alternative to the other options.
By price range, the market can be segmented into regular thickeners and premium thickeners.
The regular thickeners segment is anticipated to observe notable growth in the coming years. The high growth rate can be attributed to its versatility to be used in a wide range of food products. Also, they are more cost-effective than specialty thickeners and are an ideal choice for food manufacturers looking forward to economic solutions.
Report Scope
Report Attribute |
Details |
Market Size in 2022 |
USD 3.49 Billion |
Projected Market Size in 2030 |
USD 6.84 Billion |
CAGR Growth Rate |
8.86% CAGR |
Base Year |
2022 |
Forecast Years |
2023-2030 |
Key Market Players |
FMC Corporation, Roquette Frères, Ashland, Kerry Group, CP Kelco, Archer Daniels Midland (ADM), Tate & Lyle, DuPont, Ingredion, Cargill, and Others. |
Key Segment |
By Application, Type, Nature, Price, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options |
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Regional Analysis
- North America to lead the growth graph during the forecast period
North America accounts for the largest share of the global plant-based thickener market because of the shifting preference of people for more sustainable and natural food ingredients in the region. An increasing number of people are shifting to vegetarian diets. Therefore, manufacturers are coming up with unique thickeners that cater to their dietary preferences, like similar mouthfeel and texture as their animal counterparts.
However, it is likely to boost the demand for plant-best food thickeners in the region. Also, people in the region are becoming aware of their health, which in turn is boosting the need for clean-label ingredients. The clean label trend is gaining momentum in the region, which is expected to widen the scope of the industry in the forthcoming years.
For instance, Ingredion Inc, in March 2019, successfully took over Western Polymer. The latter has its headquarters in the United States, and the company deals in potato scratch.
Asia Pacific is also likely to grow steadily in the region because of its large population with diverse dietary preferences. The fast-expanding food industry in the region is anticipated to witness significant growth in the forthcoming years. There is an increased demand for plant-based food additives, thickeners, and other natural ingredients, which in turn will offer growth opportunities to manufacturers and suppliers in the industry during the anticipated period.
Europe is likely to see significant growth in the forthcoming years because the region is at the forefront of the plant-based food movement. An increasing number of consumers in the region are adopting vegan diets, which is likely to boost the demand for plant-based ingredients like thickeners in the coming years.
Competitive Analysis
The key leaders in the global plant-based thickener market include:
- FMC Corporation
- Roquette Frères
- Ashland
- Kerry Group
- CP Kelco
- Archer Daniels Midland (ADM)
- Tate & Lyle
- DuPont
- Ingredion
- Cargill
For instance, JUST, in May 2020, collaborated with Emsland Group to expand its protein processing capacity and offer the volume needed to address the surging global demand for award-winning.
The global plant-based thickener market is segmented as follows:
By Application Segment Analysis
- Canned Soups & Sauces
- Ice Cream
- Cheese Cream
- Meat Coating
- Seasoning
- Yogurt
- Baked Goods
- Jellies
- Jams & Marmalades
- Others
By Type Segment Analysis
- Starch
- Vegetable Gums
- Others
By Nature Segment Analysis
- Conventional
- Organic Thickeners
By Price Segment Analysis
- Regular Thickeners
- Premium Thickeners
By Regional Segment Analysis
- North America
- The U.S.
- Canada
- Mexico
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Content
Industry Major Market Players
- FMC Corporation
- Roquette Frères
- Ashland
- Kerry Group
- CP Kelco
- Archer Daniels Midland (ADM)
- Tate & Lyle
- DuPont
- Ingredion
- Cargill
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