Market Size of Australia Food Hydrocolloids Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.20 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Australia Food Hydrocolloids Market Analysis
Australia food hydrocolloids market is forecasted to grow at a CAGR of 4.2% during the forecast period (2020 - 2025).
- The growing food industry along with the overall food retail sector has a major role to play in the growth of the thickeners segment for hydrocolloids. Besides this, it is the changing consumer preference favouring the dense ready-to-eat products, functional food and beverage products is another key factor driving the overall growth of the market in the country.
- However, the market is mainly constrained by the demand-supply imbalances. Seasonal changes cause volatility in raw material pricing, thus raising costs for manufacturers. Despite restrains, the market sees huge potential for growth. The demand for hydrocolloids is projected to increase primarily due to some of the functions that make usage of hydrocolloids popular in the food and beverage sector of the country includes increasing the viscosity, improving mouth feel, and enabling fiber addition. Agar and gelatin remain some of the most widely used products in the food & beverage application of hydrocolloids.
