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The unprecedented COVID-19 pandemic has affected the global economy to a great extent. Considering the food industry, one of the most important sectors of the economy, a tremendous impact has been witnessed on the entire process from the field to the consumer. The restrictions in the movement of workers, closure of food production facilities, and changes in consumer demand have put excessive pressure on the food industry.
The report offers actionable and valuable market insights of Plant Based Food Thickening Agents. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Plant Based Food Thickening Agents Market across various industries and regions.
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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Plant Based Food Thickening Agents market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Plant Based Food Thickening Agents
This newly published and insightful report sheds light on Market Insights of Plant Based Food Thickening Agents, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Plant Based Food Thickening Agents Market.
The recent past has witnessed significant investments in research and development of food thickening agents. Manufacturers have been exploring new herb variants to create new specifications in order to differentiate their product portfolio.
A comprehensive estimate on food thickening agents market has also been made accessible by the experts, who have considered the market estimates on the basis of a likely scenario, an optimistic scenario, and a conservative scenario regarding sales of food thickening agents during the forecast period. Analysis and estimation of price point comparison by region and by product with the global average price has been included in this study.
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Food thickening Agents Market: Segmentation
Fact.MR’s study has done the segmentation of food thickening agents market on the basis of application, source, and region.
- Bakery & Confectionery
- Meat & Poultry
- Sauces & Dressings
- Dairy Products
- Guar Gum
- Gum Arabic
- Locust Bean Gum
- Gellan Gum
- Xanthum Gum
- Animal (Gelatin)
- Carboxy Methyl Cellulose (CMC)
- Methyl Cellulose
- North America
- Latin America
- Western Europe
- Eastern Europe
- Middle East & Africa
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Key Takeaways of Global Plant Based Food Thickening Agents Market
- The demand for plant-based and seaweed-based food thickening agents is projected to capture more than 50% market share and is anticipated to show a steady growth curve in food thickening agents market during forecasted period.
- Bakery & confectionery application is forecasted to grow 1.6X over the forecast period.
- North America and Europe together hold around 60% of market share in food thickening agents market, whereas, Asia Pacific are projected to present high growth rate.
- Countries like Canada, Mexico and Poland are forecasted to show prominent growth rate in food thickening agents market.
“Plant based food thickening agents are expected to augur well in North America and Asia-Pacific. Investments in organic and vegan labels for new products as well as products in the existing portfolio is expected to reap long term returns”, says the Fact.MR analyst.
Inorganic Strategies to Keep Market Growth on Track
Tier 1 players account for ~ 30% of revenue share in the food thickening agents market. Key companies in food thickening agent market are CARGILL, Ingredion Inc., CP Kelco, Darling Ingredients, Archer Daniels Midland Company (ADM).
These companies are primarily concentrated in regions such as North America, Europe, and Australia.
Various strategy implementations like mergers, acquisitions, and joint ventures by top-tier players has increased their market share and global presence in the food thickening agents market. On the back of these factors, the market is expected to move towards consolidation.
- In January 2020, ADM acquired Portugal-based Yerbalatina Phytoactives, a natural plant-based extracts and ingredients manufacturer.
- In March 2019, ADM acquired Germany based citrus-ingredient supplier Erich Ziegler which provides compounds in the flavor, food, and beverage industries
- In March 2019, Ingredion Inc. acquired potato starch manufacturer USA-based Western Polymer. Western polymer is the largest cationic potato starch supplier.
- In March 2019, Cargill Acquired Smet, a Belgium Chocolate and Sweets Decorations Supplier. This acquisition is expected to increase investments of the company in food thickening agents.
- In July 2018, ADM entered into a joint venture with Aston Foods Inc. to establish the presence of the company in Russia.
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Key Question answered in the survey of Plant Based Food Thickening Agents market report:
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- Growth of Plant Based Food Thickening Agents Market
- Market Analysis of Plant Based Food Thickening Agents
- Market Insights of Plant Based Food Thickening Agents
- Key Drivers Impacting the Plant Based Food Thickening Agents market
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- Restraints Shaping Market Growth
- Market Survey of Plant Based Food Thickening Agents
More Valuable Insights on Plant Based Food Thickening Agents Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Plant Based Food Thickening Agents, Sales and Demand of Plant Based Food Thickening Agents, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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