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Europe Is Projected To Dominate the Food Stabilizers (Blends & Systems) Market From 2018-2023
The growth of the food stabilizers (blends & systems) market is driven by the rising demand for prepared and convenience food products. The rise in customized launches food stabilizer products, along with an increase in consumer demand for naturally sourced food ingredients, has fueled the food stabilizers (blends & systems) market.
The market for food stabilizers (blends & systems) was valued at USD 2.3 billion in 2018, and it is projected to grow to USD 2.8 billion by 2023, at a CAGR of 4.0%. The key drivers for the market’s growth are the increase in beverage consumption, the multifunctionality of food stabilizers, and the rise in the use of natural ingredients in foods due to increasing consumer awareness about healthy diets. However, adherence to international quality standards and regulations for food additives such as stabilizers and the fluctuation of raw material prices act as restraints for the market growth. Innovation in technology and emerging applications using customized stabilizer blends & systems are significant growth opportunities for the market. Recently, USDA banned the use of “carrageenan,” a seaweed-based food stabilizer in organic food products.
Based on function, the texturizing segment is estimated to be the fastest-growing from 2018 to 2023. Texturizing is an important function in the food stabilizers market for various applications, as they improve the physical characteristics of food products. The function of food stabilizers such as guar gums and xanthan gum prevents crystal formation in ice creams. They are flavorless and alter the texture of ice creams in several ways.
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On the basis of source, the plant segment is projected to be the fastest-growing from 2018 to 2023, due to increase in the demand for natural-based food additives in developed as well as emerging markets of Europe and Asia Pacific. The growth in investments made by pectin manufacturers and the increase in demand for pectin in confectionery products, beverages/juices, and dairy drinks are major factors driving the growth of the plant-based food stabilizers market.
Based on application, the beverages segment is projected to be the fastest-growing from 2018 to 2023. This growth is mainly associated with the growing demand for beverages such as sports drinks and energy drinks, which, in turn, has increased the demand for stabilizers used in beverages.
The Asia Pacific region is projected to be the fastest-growing market for synthetic sourced food stabilizers between 2018 and 2023. The Asia Pacific region is currently undergoing a dramatic transformation in response to rapid urbanization, diet diversification, and the liberalization of foreign direct investment in the food & beverage sector. Asian countries, especially China, have emerged as leading destinations, thereby facilitating the market shift from developed economies to developing economies.
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Key market players are offering customized blends & systems of food stabilizers to fulfill the requirements of food & beverage manufacturers. In the Asia Pacific region, every country has different food habits, and some companies offer country-specific food stabilizers; for instance, in India, people prefer vegetarian food, due to which stabilizer manufacturers offer plant-based food stabilizers. Some companies offer product-specific food stabilizers as well, such as beverage stabilizers, bakery stabilizers, and dairy & dairy product stabilizers.
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