Demand for thickening agents to drive hydrocolloids market
The bakery and confectionery segment is expected to consume a large share of microbial source hydrocolloids, according to a report from Persistence Market Research.
The analysts find the demand for microbial source hydrocolloids will witness significant growth in terms of both, volume and value through 2018–2026, owing to the increasing demand for thickening agents from the bakery and confectionery segments.
The presence of organised players present in the microbial source hydrocolloids market is expected to accelerate the development of various novel and innovative products, the report added.
By product type, the xanthan gum segment is expected be a prominent segment in the microbial source hydrocolloids market, with a market share of 55.5% in terms of sales revenue by the end of 2018 in the global microbial source hydrocolloids market.
This segment’s share is expected to rise to 57.7% by the end of 2026, and exhibit slow growth in the overall global microbial source hydrocolloids market.
The gellan gum segment holds the second-largest market share in the overall microbial source hydrocolloids market, expected to account for a market share of 38.2% by the end of 2018 in terms of value, and is expected to be 36.8% by the end of 2026 in the global microbial source hydrocolloids market.
By application, the thickeners segment is expected to remain dominant in the overall global microbial source hydrocolloids market, with a significant market share of 38.2% by the end of 2018 in terms of value in the global microbial source hydrocolloids market. This segment is expected to reach 36.8% by the end of 2026 in terms of value in the global microbial source hydrocolloids market.
By end-use, the bakery and confectionery segment is expected to hold a prominent share in the overall global microbial source hydrocolloids. It is expected to hold a market share of 33.2% by the end of 2018 in terms of value, and is expected to reach 36.5% by the end of 2026 in the global microbial source hydrocolloids market.
