Dubai, UAE — Remarkable expansion of the processed food sector has propelled the utilization of ingredients such as food thickening agents. Projecting the market growth at a steady CAGR of 4% during 2019 – 2028, a new market study by Fact.MR provides an inclusive analysis of the food thickening agents market. Unavailability of alternate food components and growing consumer inclination towards clean labeled products augur well for the market growth, says the report.
Food Thickening Agents Market – Key Takeaways
- Plant and seaweed-based thickening agents remain sought-after, with a collective share of 50% in market value.
- Applications in bakery & confectionery are projected to grow 1.6X over the forecast period.
- Leading manufacturers are investing heavily on increasing production capacities.
- North America and Europe to remain regional leaders in the food thickening agents market with a collective share of 60% in the global market.
- Asia Pacific region to exhibit tremendous growth and is projected to double its market share during the forecast period.
- Significant investments in the production of thickening agents such as guar complex in India is expected to further boost the market.
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