July 13, 2024
Food Stabilizer Market

Growing Demand from Convenience Food Products to Drive Growth of the Global Food Stabilizer Market

The global Food Stabilizer Market is estimated to be valued at US$ 5801.12 Bn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Food stabilizers are additives that are added to food products to maintain texture, consistency and stability over long periods of storage and under varying environmental conditions like extremes of temperature and humidity. They prevent food products from unwanted changes in their physical state such as sedimentation, agglomeration or crystal formation. The stabilizers provide sufficient viscosity to preserve appearances and ensure optimal mouthfeel of products. They are widely used in various convenience food products like yogurt, ice cream, salad dressings, sauces, dairy products, confectionery and other processed foods. With rapid urbanization and busier lifestyle, demand for convenience and packaged food products is on the rise globally. This has boosted the application of stabilizers in these products which maintain their quality and shelf life.

Market key trends:

One of the key trends in the food stabilizer market is the innovation of clean label and natural stabilizers. With growing health and wellness trend, consumers are increasingly preferring food and beverage products with simple and recognizable ingredients. Major players are focusing on developing novelstabilizers extracted from plants and other natural sources to replace synthetic variants. For instance, gum Arabic, guar gum, carrageenan, pectin and starch have gained popularity as clean label stabilizers. They are preferred for their functional properties and perceived natural image. Rising demand for natural stabilizers from food producers is expected to drive the market during the forecast period.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate. While creating brand awareness and gaining customers’ trust takes significant costs and time, large players already have strong infrastructure and distribution networks in place.

Bargaining power of buyers: The bargaining power of buyers is high due to the fragmented nature of buyers and existence of several substitute products. Buyers can negotiate on price and demand higher quality products.

Bargaining power of suppliers: Bargaining power of suppliers is moderate as suppliers of raw materials like hydrocolloids, proteins, starches etc are limited in number globally but alternatives do exist.

Threat of new substitutes: Threat of new substitutes is moderate as several substitute products exist that offer similar functionalities as food stabilizers while demand for clean label products is increasing.

Competitive rivalry: Competition in the industry is high as the market is dominated by few global players.

Key Takeaways

The Global Food Stabilizer Market Size is expected to witness high growth, exhibiting CAGR of 6.9% over the forecast period 2023 to 2030, due to increasing demand for convenience food products. The market size for 2023 is estimated to be US$ 5801.12 Bn.

North America dominates the food stabilizer market owing to increased consumption of processed food and beverages in the region. Asia Pacific is expected to register fastest growth on account of rising disposable income, rapid urbanization, and growing population in India and China.

Key players operating in the food stabilizer market are BASF SE, Cargill Inc., Celanese Corporation, Chr. Hansen A/S, DuPont, JEY’S F.I. INC, Kerry Group, Koninklijke DSM N.V, and The Archer Daniels Midland Company. These players are focusing on new product launches and expansion strategies to strengthen their market position.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it