About Food Binders
Food Binders are additives that help in enhancing or maintaining the texture of food products. This is also done to hold the food together such as dough which is later processed or baked. Food Binders are also used to increase the volume or to make soups thicker inconsistency. These binders come from different sources and offer varied textures to the food. The growth of fast food outlets and the processed food market has led to a rise in the demand for food binders. Plus the rise of vegan culture and allergies to gluten has led to innovative food binders being launched in the market. Most of the food binders are naturally sourced. The most common of these binders used in culinary practices around the world are starches, pectin, egg, milk, and agar agar. Gums segment food binders are mostly preferred for commercial use because of their superior qualities. The market of Food Binders is expected to ever grow with slow innovation cycles and shift to more organ and vegan-based binders in the coming years. Geographically, Asia Pacific is the biggest market due to large populations and huge food and beverages industry in the region. North America follows the Asia Pacific as the second-biggest market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.4% |
Competition among existing players is due to the Food Binders market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Food Binders. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Food Binders market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Cargill, Inc. (United States), International Flavors & Fragrances, Inc. (United States), A.F. SUTER & CO. LTD. (United Kingdom), Fufeng Group (China), LOTTE Fine Chemical (South Korea), Ettlinger Corporation (United States), Archer-Daniels-Midland Company (United States), Deosen Biochemical Ltd. (China), Tate & Lyle PLC (United Kingdom), Foodchem International (China) and Roquette Freres SA (France) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Euro Foods Pvt. Ltd. (India), SPAC Starch Products Pvt. Ltd. (India) and Bavaria Corporation International (United States).
Segmentation Overview
AMA Research has segmented the market of Global Food Binders market by , Application (Bakery and Confectionary, Dairy, Meat Products, Processed Foods, Beverages and Others) and Region.
On the basis of geography, the market of Food Binders has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Offline (E-Commerce Stores) will boost the Food Binders market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Packaging , the sub-segment i.e. Polypropylene Bags will boost the Food Binders market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Source, the sub-segment i.e. Plant-Based will boost the Food Binders market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Vegan Food Binders are rising in Popularity due to the Rise of Vegan Culture
Market Growth Drivers:
Growth of Food and Beverages Industry, Increase Demand in Processed Food and Change in Food Preferences of People
Challenges:
A Large Number of Local and Global Players are Present in the Market, Stimulating Innovations to Get a Competitive Edge and Adoption of E-Commerce Stores as Primary Distributers
Restraints:
Stringent Strict Regulations and Increasing Incidents of Adulteration and Presence of Counterfeit Products
Opportunities:
Strategic Acquisitions, Mergers, and Collaborations to Strengthen Capabilities
Market Leaders and their expansionary development strategies
In 2020, Cherkizovo Group, an industry leader in the Meat, and Poultry market in Russia has announced the acquisition of Cargill’s Compass Foods LLC and its poultry assets in Russia. The acquisition of additional poultry and meat processing facilities will enhance and strengthen Cherkizovo’s presence in the market.
Key Target Audience
Food Binders Manufacturers, Suppliers, and Distributors, Raw Material Suppliers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Use Industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.