July 16, 2024

Growing Demand For Convenience And Processed Foods To Drive Growth of the Global Food Stabilizer Market

The global Food Stabilizer Market is estimated to be valued at US$ 9.5 Billion 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 added to foods to maintain physical appearance and texture. They help stabilize emulsions and prevent ingredients from separating. Common stabilizers used in food processing include gelatin, pectin, carrageenan, guar gum, and carboxymethyl cellulose (CMC). The expanding processed food industry and rising demand for convenience foods rely heavily on food stabilizers to improve texture and extend shelf life. They are widely used in dairy products, confectionery products, convenience foods, bakery products, meat products, beverages, and sauces & dressings.

Market key trends:

The growing demand for convenience and packaged food due to fast-paced lifestyles is a major factor driving the growth of the food stabilizer market. Manufacturers are increasingly focusing on developing clean label and organic stabilizers to meet consumer demand for natural and organic ingredients. Growing application of food stabilizers in dairy products, convenience foods, meat products and beverages is supporting the market growth. Moreover, advancements in food processing technologies have also increased the utilization of stabilizers in new product developments. The market players are investing in R&D to develop stabilizers from novel sources such as plant extracts, algal polysaccharides and seaweed extracts to expand their product portfolio.

Porter’s Analysis

  • Threat of new entrants: The threat of entry in the food stabilizer market is moderate as it requires high capital investment for setting up manufacturing facilities and R&D. Existing players have established brand names.
  • Bargaining power of buyers: The bargaining power of buyers is high due to the presence of many manufacturers and suppliers providing food stabilizers. Buyers can negotiate on prices by comparing offers from different suppliers.
  • Bargaining power of suppliers: The bargaining power of suppliers is moderate. The availability of raw materials such as seaweed extracts, guar gum, carrageenan etc. impacts the cost of food stabilizers. Suppliers have limited control over prices due to availability of substitutes.
  • Threat of new substitutes: The threat of substitutes is low. There are limited substitute products that can replace food stabilizers for their intended functionality in food products.
  • Competitive rivalry: The competitive rivalry in food stabilizer market is high due to presence of major players competing on pricing and product innovation

Key Takeaways

The global food stabilizer market is expected to witness high growth, exhibiting CAGR of 6.9% over the forecast period, due to increasing demand for processed and convenience food products. The market size for food stabilizer was valued at US$ 9.5 Billion in 2023.

Regional analysis: Asia Pacific dominates the global food stabilizer market and is expected to be the fastest growing region during the forecast period. Large population, increasing disposable income and changing food consumption patterns in countries such as China and India are boosting the growth of the food stabilizer market in Asia Pacific.

Key players: 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 catering to diverse applications to strengthen their market position.