Food Binders Market Trend, Share, Growth, Size and Forecast 2030

Food Binders Industry Prospective:

The global food binders market size was evaluated at $6,800 million in 2022 and is slated to hit $11,400 million by the end of 2030 with a CAGR of nearly 6.9% between 2023 and 2030.

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Food Binders Market: Overview

Food binders are additives that are mixed with food to improve the texture of food products through thickening or binding of the food constituents together. These food binders are also referred to as food fillers as they possess inherent features such as the ability to increase the quantity & mass of a food without affecting the nutritive value of food. The product further maintains the shape of food and prevents oil separation in a slew of confectionary products including confectionary fillings and chocolate spread.

Key Insights

• As per the analysis shared by our research analyst, the global food binders market is projected to expand annually at the annual growth rate of around 6.9% over the forecast timespan (2023-2030)
• In terms of revenue, the global food binders market size was evaluated at nearly $6,800 million in 2022 and is expected to reach $11,400 million by 2030.
• The global food binders market is anticipated to grow rapidly over the forecast timeline owing to the rise in the use of the product in the fast-food sector.
• In terms of type, the protein type segment is slated to register the highest CAGR over the forecast period.
• Based on application, the restaurant segment is projected to dominate the segmental growth in the forecast timeline.
• Region-wise, the North American food binders industry is projected to register the fastest CAGR over the forecast timeline.

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Food Binders Market: Growth Factors

Large-scale product penetration in the fast-food sector to prop up the growth of the market globally

The global food binders market is expected to grow by leaps & bounds over the ensuing years due to the rise in the use of the product in the fast-food sector. Reportedly, food binders play a pivotal role in the fast food sector by enhancing the texture and improving the viscosity of food. Furthermore, the increasing trend of fast food culture, especially in developing economies along with growing fast-food chains has given a push to the demand for food finders in the fast-food business. An increment in the number of substitutes for meat products is likely to drive the global market trends. 

Growing demand for vegan and vegetarian food among the global population will spearhead the expansion of the market globally. New product launches are predicted to steer the expansion of the market globally. Citing an instance, in September 2023, FERM FOOD, a Denmark-based firm in the food & beverages business, launched cutting-edge & clean-label fermented items for the food sector.

Food Binders Market: Restraints

Suring product costs can curtail the growth of the industry globally over the forecast time interval

Food binders do not have the ability to add nutrition to food items and this can obstruct the expansion of the global food binders industry over the coming years. High product costs can further diminish the growth of the industry in the next couple of years. Growing health issues, changing life patterns, and low per capita income in emerging economies have resulted in to reduction in the processed food demand, thereby restraining the global industry surge.

Food Binders Market: Opportunities

An increase in disposable income & intake of processed foods can shape the growth of the global market by 2030

A rise in the per capita income and growing demand for processed diets is projected to open new growth opportunities for the global food binder market. Changing consumer dietary habits and rising expenditure on food are predicted to generate new avenues of growth for the global market.  

Food Binders Market: Challenges

Closure of restaurants & surging prices of food products can challenge the global industry surge over forecasting years   

Closure of bakeries, hotels, and fast-food restaurants along with rising food costs can pose a huge threat to the expansion of the global food binders industry. Lockdown due to the COVID-19 pandemic temporarily reduced the retail store business and this restricted the expansion of the industry across the globe.

Food Binders Market: Segmentation

The global food binders market is sectored into type, application, and region.                                    

In terms of type, the food binders market across the globe is segregated into sugar type, starch type, protein type, and gel type segments. Furthermore, the protein type segment, which acquired about 57% of the global market profits in 2022, is expected to register the fastest CAGR during the period from 2023 to 2030. Moreover, the segmental expansion in the coming eight years can be due to their cohesive nature and the rise in their demand as sports supplements.                

Based on the application, the global food binders industry is divided into household, food factory, and restaurant segments. Moreover, the restaurants segment, which led the application segment in 2022, is set to dominate the segmental growth over the forecast timeline. The growth of the segment in the ensuing years can be owing to the rise in the use of food binders in the processing of foods in restaurants as well as substitute products for meat.

Food Binders Market: Report Scope

Food Binders Market: Regional Insights

Asia-Pacific is expected to dominate the global food binders market growth over the period from 2023 to 2030

Asia-Pacific, which accounted for nearly 55% of the global food binders market share in 2022, will be the leading region in the coming seven years. Moreover, the regional market expansion over the forecast timespan can be credited to large-scale demand for the product in making potato chips, candies, and chewing gums, owing to its bonding properties across countries such as India, Thailand, Indonesia, and Sri Lanka. Easy product availability in supermarket stores in the region will steer the growth of the market in the region.

North American food binders industry is expected to record the fastest cumulative annual growth rate in the forecasting years. The growth of the industry in the sub-continent in the next few years can be due to the rising use of the product in the various kinds of sports nutrition for the sports persons participating in the events in countries such as Canada and the U.S. Moreover, a rise in the number of firms manufacturing the product will drive the industry growth in the region.

Food Binders Market: Competitive Space

The global food binders market profiles key players such as:

• ADM
• Bavaria Corp
• Advanced Food Systems
• Brenntag North America
• Ingredion
• Cargill
• Solvaira Specialties
• Nexira
• Innophos
• ICL Food Specialties
• Advanced Food Systems
• Newly Weds Foods
• SK Food International
• Franklin Foods West

The global food binders market is segmented as follows:

By Type

• Sugar Type
• Starch Type
• Protein Type
• Gel Type

By Application

• Household
• Food Factory
• Restaurants

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa