LONDON–(BUSINESS WIRE)–SpendEdge has been monitoring the global food thickeners market and the market is poised to experience spend growth of more than USD 3 billion between 2019-2024 at a CAGR of over 5% during the forecast period. Request Free Sample Pages.
Read the 127-page research report with TOC and LOE on “The Global Food Thickeners Market – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, and insights into best practices to optimize procurement spend.”
Food thickeners are widely being used in consumable products for aging adults suffering from dysphagia. These ingredients slow the transit of fluids and food, providing more time to coordinate the swallowing process. This is driving spend growth in the global food thickeners market. The growing preference of consumers for food thickeners derived from plant and vegetable sources than artificial additives and ingredients is contributing to the demand growth in this market.
In Europe, the increase in demand for gluten-free food products is resulting in exponential demand growth in the food thickeners market. The frequency of consumption of bakery products is also resulting in the adoption of food thickeners that are used to enhance the appearance of bakery products.
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Insights into the market price trends
- Disruptive trade policies implemented by the major exporters of raw materials, such as starch, wheat, and guar gum are resulting in a sharp rise in the raw material prices. This is exerting an inflationary impact on the supplier’s OPEX.
- Food thickeners suppliers extensively use processing equipment to prepare compounds that perform functions such as thickening and gelling agents. The cost of this processing equipment is expected to increase during the forecast period.
What are the strategies to adopt to optimize procurement spend in this market?
Adopt the volume-based pricing model
Buyers are advised to adopt the volume-based pricing model while negotiating with suppliers. In this model, prices are fixed as per the contract clause. This pricing model will protect buyers from price fluctuations. Moreover, buyers will have the liberty to demand high discounts when the purchase quantity is high.
Engage with suppliers who have vertically integrated production operations
These suppliers manufacture food thickeners as by-products during their other end-product production processes. The ability of these suppliers to use food thickeners for other end-product’s production enables them to have better control over events such as production surplus and price fluctuations.
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Some of the key topics covered in this report are:
- Food thickeners market spend segmentation by region
- Total cost of ownership analysis in the food thickeners market
- Regional spend opportunity for food thickeners suppliers
- Food thickeners suppliers cost structure
- Food thickeners pricing models analysis
- Food thickeners procurement best practices
- Category management objectives
- Cost saving opportunities in the food thickeners market
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