PUBLISHER: Mordor Intelligence | PRODUCT CODE: 965144
PUBLISHER: Mordor Intelligence | PRODUCT CODE: 965144
North America Food Thickeners Market is projected to grow at a CAGR of 4.24% during the forecast period 2020-2025.
There has been an increasing demand for corn starch as a food thickener in the North America food and beverage industry. According to the USDA (United States Department of Agriculture), the global consumption of corn stood at 44,511 million bushels out of which United States consumed 12,415 million bushels in 2018-2019 with 240 million bushels being used as starch during 2018, globally. Furthermore, the demand for corn-based starch, in the food industry, as a thickening agent in sauces, and gravies and pudding are driving the market. The starch is also used for filling the food items. The maize starch, popularly known as corn starch, is used in the baking industry on a large scale. Products delivering distinct organoleptic traits, along with cleaner ingredients, have witnessed wider reach and greater availability. Categories, such as plant-based, vegetarian, gluten-free, non-GMO, and convenient foods, have also penetrated significantly in the emerging markets.
Rising preference for organic, vegan, and clean-labeled food ingredients has created a significant impact on the food thickeners market dynamics in the United States. This factor is also encouraging key players, like Cargill, Ingredion, ADM, Kerry Group, etc., to introduce clean-labeled food thickeners in the market. For instance, in 2018, Ingredion launched new certified, clean-label organic starches (Novation Prima 309 and 609 organic functional native corn starches) in the United States. Moreover, the rising demand for nutritional foods and beverages has been stimulating the demand for gelatin, as it is rich in protein and easy to incorporate into functional and nutritional food and beverage products, which in turn, boosting the food thickeners market in the country.
The North America market for food thickener is competitive, owing to the presence of large regional and domestic players in different countries. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. Some of the major players in the market studied are Tate & Lyle PLC, Kerry Group PLC, Archer Daniels Midland Company, and Cargill Inc among others.