Food Binders Market:
Growth Opportunities in the food binder market look promising over the next six years. This is mainly due to the rising demand for ready-to-eat and packaged food, increasing influence of western culture, rapid urbanisation, changing consumption pattern of consumers, and growing trend of fast food culture.
Food Binders Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Augmenting demand for packaged and ready-to-eat food products owing to the improving lifestyle of consumers and rising disposable income are the major factors fuelling the growth of the global food binder’s market growth. Also, factors like altering consumption patterns of consumers, rapid urbanization, rising influence of western culture, and the surging demand for processed food boosts the growth of the market.
The increasing demand for meat substitutes, food products that are not derived from meat but simulate meat and meat products will further propel the market share of the global food binder’s market. Moreover, food binders are being increasingly used for different purposes because of their texture and the viscosity improvement properties offered by them without hampering its nutritional content of the end product. This factor is expected to expand the market growth over the coming years. However, the increasing vegan population may hinder the demand for products derived from animal sources such as Gelatin.
Application Segment Drivers
Based on the Application, the Meat Products & Meat Analog segment is expected to grow at a faster CAGR over the forecast period owing to the increasing demand for meat analogs guided by the propensity of consumers towards animal welfare and environmental sustainability. In addition to this, food binders being an essential ingredient in meat substitute products also raises the market size.
On the basis of region, the Asia-Pacific region is projected to expand at a higher CAGR in the global food binders due to the increasing urbanization, surging per capita income, and expanding demand for high protein content products among consumers. Furthermore, the widespread awareness related to the usage of food binders in different applications will also propel the market growth. Increasing demand for food binders in various countries like Japan, India, and South Korea, will also strengthen the market growth in the Asia-Pacific region.
Food Binders Market’s leading Manufacturers:
- Roquette Ferres SA.
- Fufeng Group
- Tate & Lyle
- Archer Daniels Midland Company
- Deosen Biochemical Ltd
- Bavaria Corp
Food Binders Market Segmentation:
Segmentation by Source:
- Guar Gum
- Cellulose Gum
- Xanthan Gum
- Agar Agar
Segmentation by Application:
- Meat Products and Meat Analogs
- Processed Foods
- Sports Nutrition Products
Segmentation by Region:
- North America
- United States of America
- Asia Pacific
- Rest of APAC
- United Kingdom
- Rest of Europe
- South Africa
- Saudi Arabia
- Rest of the world (remaining countries of the LAMEA region)
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