The report "Food Stabilizers (Blends & Systems) Market by Source (Plant, Microbial, Seaweed, Synthetic, and Animal), Application (Dairy, Bakery, Confectionery, Beverages, Convenience Foods, Meat, and Sauces & Dressings), Function, and Region - Global Forecasts to 2023", The global food stabilizers (blends & systems) market is estimated to be valued at USD 2.3 billion in 2018 and is projected to reach USD 2.8 billion by 2023, at a CAGR of 4.0% during the forecast period.
Based on source, the plant segment is projected to be the fastest-growing during the forecast period. This segment is rapidly growing majorly due to the rise in demand for natural ingredients and increase in trend for vegan food. Consumer’s perception towards the nutritional properties of plant-sourced food stabilizers has also been boosting the adoption rate of naturally sourced stabilizers. Food & beverage manufacturers prefer plant-sourced food stabilizer to fulfill the consumer's demand for natural food additives.
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Based on function, the texturizing segment is estimated to account for the largest share in the food stabilizers (blends & systems) market in 2018. In the food industry, the use of food stabilizers helps in improving the appearance of the product, which, in turn, encourages consumers to purchase the said products. Hence, the demand for stabilizers in the food industry is increasing.
On the basis of application, the food stabilizers (blends & systems) market was led by the dairy & dairy products segment. There has been an increasing application of food stabilizers in dairy products such as ice-cream and frozen dessert, and flavored milk. Stabilizers such as guar gum and carrageenans are the majorly used ingredients for dairy applications, and with the rising innovations in dairy product industry, the market for dairy & dairy products is estimated to dominate in 2018. In the food industry, the demand for dairy & dairy products is growing due to changing lifestyles and eating habits.
The Asia Pacific region is projected to be the fastest-growing market for food stabilizers (blends & systems) for the next five years. The abundant availability of raw materials such as seaweed and guar gum, along with the growing popularity of dairy products, beverages, and convenience food, is a growth driver in the Asia Pacific food stabilizers market. Developing economies such as China, India, and Japan are potential markets for the food stabilizers. The main driving force for the growing market is the scope and range of innovative system solutions and food processing technologies.
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This report includes a study of the development strategies adopted by leading companies and their product portfolios. It includes major players such as Cargill (US), DowDuPont (US), Tate & Lyle (UK), Kerry (Ireland), CP Kelco (US), Palsgaard (Denmark), Ashland (US), ADM (US), BASF (Germany), Ingredion (US), Hydrosol (Germany), and Nexira (France). These players are focusing on mergers, acquisitions, expansions, investments, joint ventures, partnerships, and new product developments to strengthen their customer base and market position in the food stabilizers market.