The UK food hydrocolloids market is anticipated to witness a CAGR of 5.5% during the forecasted period, 2020-2025.
Key Highlights
- Increased R&D and innovations in hydrocolloids mostly drive the market. Consumer preference for natural ingredients and the varied applications of hydrocolloids in the food and beverage industry are some of the reasons for the uptick in demand.
- The changing consumer demographics in terms of lifestyle changes and the growing working population resulting in consumer demand for convenience and processed foods are also boosting the market growth.
Key Market Trends
Growing Demand for Natural Ingredients
European consumers' attitudes and knowledge toward plant-based diets have been growing in the years. The unceasing innovation and developments in the additives market have been tapping the emerging food and beverage industries. Naturally-derived ingredients and additives in the food industry have emerged as a boon for businesses. Moreover, the rising vegan population in the country remains the primary factor boosting the market studied. In addition to this, the growing application areas of hydrocolloids majorly helping to control the thickening and gelling properties of aqueous foods, and the natural property of hydrocolloids is boosting the market growth.
Meat and Seafood Market Holds A Prominent Share
The meat and seafood segments hold a prominent share in the market with a large consumer base in the country. Premiumization, better standards, and more efficient processing operations are all expected to fuel market growth. In order to maintain customers, loyalty manufacturers have started highlighting their product differentiation to have superiority over white brands. This factor has led to an increase in sales of processed meat from branded players. In addition, the growth in a number of smaller shops and specialist shops has opened more opportunities for the manufacturers in the country. The enormous demand for processed meat in the country is expected to propel the hydrocolloid market growth in the country.
Competitive Landscape
The UK food hydrocolloids market is a fragmented market with the presence of various regional and global players operating in the market. To gain a competitive advantage in the market, players are expanding their product offerings to multiple applications.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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Table of Contents
Methodology
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