Minerals Thickening Agents Market, By type (Clays, Silicas, Other), By Application (Food & Beverages, Paper & Paperboard, Paints & Coatings, Textile & Fibers, Other), and Regional Insights and Forecast to 2033

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MINERALS THICKENING AGENTS MARKET OVERVIEW

The global Minerals Thickening Agents Market in terms of revenue was estimated at USD 1.1 billion in 2024. Over the forecast period from 2024 to 2033, the market is anticipated to grow at a CAGR of 6.4%, reaching an estimated valuation of around USD 1.9 billion by 2033.

It provides the user with a lot of features that make this particular product service work efficiently and effectively. Compounds known as food thickeners are added to food and drink to alter their texture, most notably by making them thicker or more viscous. These additives enhance the sensory qualities, stability, and quality of a variety of goods, making them crucial in the formulation and processing of food. Food thickeners achieve specific textural properties, enhance mouthfeel, and stop component separation. This factor has augmented the Minerals Thickening Agents Market growth.

The anticipated rate of growth for this particular product service is due to quality level of assurance. Prosperity has been observed for this particular product market with amusing numbers. The benefits and variety of uses of food thickeners, along with the increase in disposable income, boost the global market share. Additionally, the rise in consumer health consciousness will probably present major growth opportunities for companies operating globally. The market's growth, however, might be constrained by the price swings of food thickeners and the high R&D expenses associated with their manufacture.  This has ultimately outraged the sales and demand for this particular market growth and prosperity.

COVID-19 IMPACT

Market Growth Obstructed by Pandemic due to Lockdown

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

This has affected the overall supply and demand chains of the particular market. As a result of the government's lockdown and other steps to stop the coronavirus from spreading, all supply activities were postponed, which decreased the amount of product related to semiconductor and electronics. Therefore, a small influence from COVID-19 is anticipated on the Minerals Thickening Agents Market share.

LATEST TREND

Inventive Use Of Substitute Ingredients to Drive Market Growth

A latest trend has been witnessed to proliferate the market growth. This particular trend has been recorded to be the most profiting trends that have been upgraded to augment the overall market growth. Novel hydrocolloids or plant-based substitutes are examples of innovative thickeners that present opportunities for differentiation and meeting specific dietary needs. A popular substitute for conventional thickeners is konjac flour, which is made from the roots of the konjac plant. These thickeners' gelling and stabilizing properties make them popular in vegetarian and vegan dishes. Nielsen projects that sales of plant-based products in the US will rise by 27% in 2020, suggesting that there is a sizable market for plant-based thickeners. This specific trend has influenced the market growth so much so that the revenue and share numbers of this particular product is touching the skies and soaring over.

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MINERALS THICKENING AGENTS MARKET SEGMENTATION

By Type

Based on Type, the global market can be categorized into Clays, Silicas, Other.

• Clays:  These are inorganic substances, like clays. The market for food thickeners is anticipated to be driven by increased consumer awareness.

• Silicas: These are inorganic substances, like silica is a prominent segment of the numerous application industries and are anticipated to exhibit a similar trend during the projection period

By Application

Based on application, the global market can be categorized into Food & Beverages, Paper & Paperboard, Paints & Coatings, Textile & Fibers, Other.

• Food & Beverages: The market for food thickeners is anticipated to be driven by increased consumer awareness of products with unconventional and traditional flavors as well as an increase in demand for convenience meals throughout the course of the forecast period. In beverages, thickeners are commonly employed to improve texture, mouthfeel, and particle suspension. They include meal replacement shakes, smoothies, dairy-based drinks, and fruit juices.

• Paper & Paperboard: Because high-quality paper products are required, sizing agents are employed to increase the strength and printability of paper.

• Paints & Coatings: Due to its increasing use in automotive, electrical and electronics, and building and construction components, the paint and coating segment leads the market. Additionally, it is anticipated that rising infrastructure investments would support the segment's expansion over the course of the projected period. The paints and coatings business has grown as a result of the government's increasing investments in infrastructure construction and the growing demand for automobiles. The market for thickening and sizing agents is expanding as a result of this. Paints & coatings are a prominent segment of the numerous application industries and are anticipated to exhibit a similar trend during the projection period.

• Textile & Fibers:  Due to its increasing use in automotive, electrical and electronics, the Textile & Fibers segment leads the market. In the textile industry, sizing agents are crucial for enhancing the strength and manageability of yarns during weaving.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.

Driving Factors

Rise In The Demand For Processed Foods to Boost the Market

This is the major factor attributing the growth of this particular market. This factor is majorly involved in taking the revenue numbers above the skies and soaring greater heights and also the sales and demands have been proliferation and increased its value to greater extent. Compounds known as food thickeners are added to food and drink to alter their texture, most notably by making them thicker or more viscous. These additives enhance the sensory qualities, stability, and quality of a variety of goods, making them crucial in the formulation and processing of food. Food thickeners achieve specific textural properties, enhance mouthfeel, and stop component separation. Common processed foods with consistent textures and scents are instant soups and sauces. To get the right creamy or thick consistency, food thickeners such hydrocolloids or modified starches are used. Common condiments like mayonnaise, ketchup, and salad dressings depend on food thickeners to prevent separation and maintain the proper viscosities.  This particular product has recorded to be profiting for the market growth. This particular factor has been proved to a boon for this particular product market. These factors are anticipated to drive the Minerals Thickening Agents Market growth during the forecast period.

Expanding Global Population to Expand the Market

This is the second major factor attributing the growth of this particular market and has resulted in the hike of revenue numbers so much so that they are touching the skies. Clients benefit from it. This particular product market has touched new levels of lucrative revenue numbers and has also recorded to be the boon for this particular product market growth. The key market players have established a giant commercial platform in the global company sectors due to the ongoing requirement for manufacturing work and the increasing understanding of emerging technologies in the current industry. The expanding global population is one of the main factors influencing the desire of the majority of industry experts and major investors to take part in the sizeable sizing and thickening agent market. This factor has attributed the overall growth of this market and helped with the hike of revenue numbers as well. These factors are anticipated to drive the Minerals Thickening Agents Market growth in the present times and also during the forecast period.

Restraining Factor

High Cost of Raw Materials to Impede Market Growth

These particular solutions have been very helpful yet extremely costly as well. Shortly after the lockout, the cost-effectiveness of raw materials and industrial production accessories varied significantly on the global market. Due to price hikes for several items of equipment, the majority of investors are also facing a labor scarcity in their businesses. Together, these elements have created a sizable market barrier for the global market for thickening and sizing agents. This particular factor is anticipated to restrain the market growth and drastically reduce the sales and demands of this particular product market. 

Opportunity

Industrialization To Create Opportunity for the Product in the Market

This particular opportunity has been attributing the market growth immensely. The global market offered the market's most prominent competitors a plenty of opportunities shortly after lockdown was released. The market trends for sizing thickening agents have opened up considerably, which has increased demand for maximum production.

Challenge

Stoppage of International Commercial Vehicles Could Be a Potential Challenge for Consumers

This particular factor has been drastically challenging for the market growth and has become another major restraining factor. The pandemic has significantly impacted the size and thickening agent industry globally. Every business and sector wishes to avoid this situation. Due to the stoppage, the majority of international commercial vehicles fail to reach their destination on schedule. Some industries have seen lower production rates as a result of a lack of raw materials and other essential industrial equipment.

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MINERALS THICKENING AGENTS MARKET REGIONAL INSIGHTS

• Asia

The Asia Pacific region has augmented a lot in the past few years in this particular product market. The Asia Pacific Minerals Thickening Agents Market has anticipated to augment immensely over the forecast period. Almost all of the worldwide revenue share came from Asia Pacific. With a significant share of the worldwide market, Asia Pacific is expected to maintain its leadership position during the projection period. The region's emerging end-user sectors, like the building and automotive industries, are anticipated to support market expansion. Additionally, because of the advantageous government policies, the manufacturing base has shifted to Asia Pacific, which has further fueled market expansion. China, Japan, and India are the main nations responsible for the expansion of thickening and sizing agents in this area.

• North America

North America is anticipated to expand at the fastest rate during the projection period due to a rise in the demand for cutting-edge technologies. The market for thickening agents and sizes is dominated by North America. The primary drivers of the market's expansion are the established end-user industries and the expanding use of thickening and sizing agents. The United States and Canada are the two main nations responsible for this rise.

• Europe

The European market for this particular market has been accounted for attributing the overall global shares for this particular product service market. The advanced automotive and cosmetics industries are the primary drivers of the European market for sizing and thickening agents. Furthermore, the market expansion is anticipated to benefit from the rising demand for food and drink that can be consumed on the go.

KEY INDUSTRY PLAYERS

Leading Players adopt Acquisition Strategies to Stay Competitive

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Top Minerals Thickening Agents Companies

• ADM (U.S.)
• Dupont (U.S.)
• CP Kelco (U.S.)
• Dow (U.S.)
• FMC (U.S.)
• BASF (Germany)
• Ashland (U.S.)
• Ingredion (U.S.)
• Akzo Nobel (Netherlands)
• Cargill (U.S.)

KEY INDUSTRY DEVELOPMENT

September 2023: This particular company has attributed the market growth in terms of revenue and shares system. This particular development and investment the global market has been recorded to be a boon for the market growth. In response to customer demands for creativity, inspiration, and a quicker time to market, Cargill established its first European Protein Innovation Hub in Saint-Cyr en Val, France.

REPORT COVERAGE

This research profiles a report with extensive studies that take into description the firms that exist in the analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change market affecting the forecasting period. With detailed studies done, it also offers a comprehensive.