The market for beverage stabilizers is estimated at USD 117.1 million in 2018, and it is projected to grow at a CAGR of 5.6% to reach a value of USD 153.8 million by 2023. The beverage stabilizers market is segmented on the basis of function, application, type, and region. The functions of beverage stabilizers include stabilization, texturization, viscosification, and others such as emulsification, thickening, and anti-crystallization. This market has also been segmented on the basis of application into fruit drinks, dairy products, soft drinks, alcoholic beverages, and others (which include tea & coffee and sports & energy drinks). This market is segmented on the basis of types into xanthan gum, carrageenan, gum arabic, carboxymethyl cellulose (CMC), and others (which include pectin, guar gum, and locust bean gum). On the basis of key regions, beverage stabilizers market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW), which includes South America and the Middle East & Africa.
The key drivers for the marketís growth are the rise in beverage consumption, the multi-functionality of beverage stabilizers, and the increase in the use of natural ingredients in foods due to the growth in consumer awareness about healthy diets. However, adherence to international quality standards and regulations for beverage additives such as stabilizers and the fluctuation of raw material prices act as restraints for the marketís growth. Innovation in technology and emerging applications using customized stabilizer blends are significant growth opportunities for the market.
Based on function, the stabilization segment is estimated to account for the largest market share in 2018. Stabilization is the key function of beverage stabilizers in various applications, as that improves the quality of the products. The function of beverage stabilizers such as hydrocolloids is to stabilize the emulsion and prevent separation of phases.
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On the basis of type, the gum arabic segment is projected to be the fastest-growing from 2018 to 2023, because it helps to stabilize the flavor and essential oils in the production of soft drinks or concentrated juices.
Based on application, the fruit drinks segment is projected to be the fastest-growing during the forecast period. This growth is mainly associated with the rise in the demand for natural products in the beverage industry.
The Asia Pacific region is projected to be the fastest-growing market for beverage stabilizers between 2018 and 2023. In 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.
The beverage stabilizers market is dominated by various players, depending on their core competencies. However, stringent international quality standards & regulations and fluctuating prices of raw materials limit the free entry for new players, which is a major factor restraining the growth of the market.
Key players in this market such as DowDuPont (US), Ingredion (US), Cargill (US), Palsgaard (Denmark), and CP Kelco (US) focus on increasing their presence through mergers & acquisitions and new product developments specific to consumer tastes in these regions. These companies maintained their positions in the market through strategic developments in the global beverage stabilizers market.
Beverage Stabilizers Market by Type (Xanthan Gum, Carrageenan, Gum Arabic, and CMC), Function (Stabilization, Texturization, and Viscosification), Application (Fruit Drinks, Dairy Products, and Soft Drinks), and Region - Global Forecast to 2023
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