A novel low-carbohydrate digestible hydrocolloidal composition is separated from a cereal-based substrate by means of a specific sequence of steps for treating an aqueous slurry of the substrate. These all-natural compositions are low in digestible carbohydrates, principally starches, and rich in soluble fiber, principally .beta.-glucan, as well as proteins. The hydrocolloidal products are recovered in high yields, are smooth in texture, have unexpected thickening properties, have a bland flavor, and are useful for texturizing food, especially bakery products. These hydrocolloidal products can also be used as food ingredients for increasing the nutritional level of foods and supplements.