A new market report forecasts the Asia-Pacific region to experience the fastest market growth.
According to new report on the market for food texturizers (ingredients that are added to processed foods to enhance stability and palatability), world demand will swell to $11.8 billion by 2018 (+5% CAGR). According to the report from MarketsandMarkets (Dallas), demand will be driven by increased consumer demand for convenience foods such as baked goods, confectionery, and dairy foods.
The report listed North America (the U.S. specifically) as the current most geographically dominant market in terms of demand, with Europe and Asia-Pacific ranking second and third. Asia-Pacific was tapped to enjoy the fastest market growth thanks to its flourishing economy, followed closely by the Rest of the World (all markets not North America, Europe or Asia-Pacific).
Innovations in customizable texturizing ingredients and ingredient blends are also encouraging the category’s growth. The top texturizers in the category are gelling agents and emulsifying agents, respectively. The largest two global application markets are meat and poultry products and bakery and confectionery products.