Food Thickeners Market Analysis
The food thickeners market is set to witness a spend growth of over USD 3 billion with spend momentum to accelerate at a CAGR of more than 5% between 2019-2024. An increase in the occurrence of dysphagia in aging adults is resulting in the adoption of food thickeners. These are known to decelerate the transit of fluids and food, providing more time to coordinate the swallowing process. Spend growth in the food thickeners market is credited to consumer's preference for food thickeners derived from derived from plant and vegetable sources over artificial additives and ingredients.
Top Spending Regions in the Food Thickeners Market
The global preference towards food ingredients that are healthy, natural, and are gluten-free is expected to serve as the primary spend accelerator in the food thickeners market during the forecast period.
Europe
The health-conscious demography in countries like Germany, France, and Italy are exhibiting a high demand for gluten-free food products which is driving adoption in the food thickeners market. The frequency of consumption of bakery products is also resulting in the adoption of food thickeners that are used to enhance the appearance of bakery products.
North America
The food thickeners market in this region is gaining prominence in the years to come owing to the presence of a relatively mature processed food and beverage market. The penchant of consumers towards functional ingredients that are natural, safe, and healthy is driving the adoption of this product at a substantial rate.
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What are the Key Price Trends in this Market?
- The price of raw materials, such as starch, wheat, and guar gum, used in the manufacturing of food thickeners are expected to increase owing to disruptive trade policies being implemented by the major raw materials exporting countries.
- The manufacturing process is typically labor-centric. The dwindling labor pool will result in a sharp rise in food thickener suppliers' employee expenses which will propel their OPEX.
- The costs of equipment and automated processes are some of the major cost components of suppliers' overall manufacturing expenditure. Food thickeners suppliers extensively use processing equipment to prepare compounds that perform functions such as thickening and gelling agents. These costs are expected to increase during the forecast period.
Download the free sample of this report to know what the key food thickeners procurement best practices that you must adopt to address price dynamism in this market.
Insights Offered in this Food Thickeners Market Report
- Global and regional spend potential for the food thickeners market for the period of 2019-2024
- Supplier relationship management practices in the food thickeners market
- Supplier margins and selection criteria in the food thickeners market
- Top food thickeners suppliers and their cost structures
- Top food thickeners suppliers in the US and their cost structures
- Food thickeners market spend analysis in the US
- Food thickeners price trends, and forecasts
- Cost drivers influencing the food thickeners prices
Insights into Food Thickeners Supply Market
- Suppliers are adopting natural masking technology to maintain the taste and flavor of food products that use plant-based food thickeners. Buyers face the issue of change in taste when switching to natural and plant-based food thickeners as compared to other food thickeners such as corn flour and arrowroot. Hence, the adoption of natural masking technology is helping suppliers hide the flavor of natural and plant-based food thickeners thereby, assuring consistency in flavor to buyers
- Buyers are advised to partner with food thickeners suppliers who can provide packaging options that are suited to the unique requirements of buyers. Suppliers should ensure that packaging partners address customer requirements based on factors such as temperature and packaging regulations. This will allow buyers to enhance quality and shelf-life of the product.
- Global suppliers have vertically integrated production operations. These suppliers manufacture food thickeners as by-products during their other end-product production processes. Their ability to use food thickeners for other end-product's production enables them to have better control over events such as production surplus. These factors enable global suppliers to operate on higher profit margins than their smaller regional counterparts.
Insights into Some of the Leading Food Thickeners Suppliers
The supply market dynamics hint at a substantial hike in suppliers' OPEX which will drive buyer's procurement spend. Keeping such dynamics in mind, strategic selection of suppliers and maintaining an effective supplier relationship management are observed to facilitate buyers with optimized procurement expenditure and better category management in the food thickeners market. This food thickeners market procurement intelligence report has enlisted the top suppliers and their cost structures, SLA terms, best selection criteria, and negotiation strategies for the top food thickeners suppliers. The top food thickeners suppliers highlighted in this report include:
- Cargill Inc.
- Ingredion Inc.
- CP Kelco US Inc.
- Darling Ingredients Inc.
- Archer Daniels Midland Co.
- Kerry Group Plc
Criteria to select suppliers in this dynamic food thickeners market is subject to change based on the day-to-day market outlook. Get a free demo of our procurement platform to gain immediate access into real-time insights to the changing suppliers selection criteria.
