What is the projected Gum Arabic Market valuation by 2025?
13-Mar-2020: The global gum arabic
market size is expected to reach USD 555.9 million by
2025, according to a new report by Grand View Research, Inc., exhibiting a 5.9%
CAGR during the forecast period. Gum arabic, also known as acacia gum, is a
natural emulsifier used in various applications such as food and beverage,
cosmetics, pharmaceuticals, and paints. It is primarily used as a filling and
thickening agent in most confectionery items.
The market is
driven by increasing consumer spending on dietary and fiber-rich food products,
especially in bakery applications. This can be attributed to growing purchasing
power of consumers, along with significant spending in the beverage and
confectionery industry in developing countries such as China and India. Rapidly
growing bakery industry in several Asian and South American countries and with
a rise in sales of natural and functional ingredients used in bakery products
are key trends benefiting this market. Moreover, the ability of this ingredient
to be instantly soluble in products and help retain flavors, colors, and aromas
in various foods and beverages is expected to support product demand.
The ingredient
plays a crucial role in dairy products, as an encapsulation medium and
stabilizer. Its air-holding ability improves freeze-thaw stability in ice
creams, yogurts, and other frozen desserts. Thriving e-commerce channels and
increasing number of domestic bakery vendors have been providing players major
opportunities for growth.
The market in North
America held the dominant share of over 35.0% in 2018 and this can be
attributed to a large consumer base, especially for beverages, confectioneries,
and pharmaceutical products. Soaring sales of dairy products, particularly in
countries like Japan, China, Australia, and India have been driving the Asia
Pacific market, enabling it to register the fastest growth over the forecast
period.
The market is
characterized by several growth initiatives, such as acquisitions, mergers,
online sales, and investment in research and development. Key players in the
market include Gum Arabic Company; Nexira; Kerry Group; Tic Gums Inc.; Agrigum
International Limited; Farbest Brands; Archer Daniels Midland Company; Ashland
Inc.; Hawkins Watts; and Prodigy NIG Limited.
In
depth research report on Gum Arabic Market
Further key findings from the report suggest:
·
In terms of revenue, dairy products are expected to emerge as
the fastest growing application segment, registering a CAGR of 7.4% over the
forecast period. The ingredient serves as an effective encapsulation medium and
stabilizer in dairy products
·
By source, acacia Senegal dominated the global market with a
share of 66.2% in 2018. These trees are known to yield in all seasons,
regardless of soil texture and condition
·
North America dominated the global market in 2018, accounting
for 35.7% of the overall revenue. Growing beverage and dairy industries, driven
by rising consumption of ready-to-eat foods, is expected to propel the gum
arabic market
·
The industry is highly competitive in nature. Key players
include Gum Arabic Company; Nexira; Kerry Group; Tic Gums Inc.; Agrigum
International Limited; Farbest Brands; and Archer Daniels Midland Company
·
Manufacturers are concentrating on new product launches,
capacity expansions, and technological innovation to estimate existing and
future demand patterns.
Grand View Research
has segmented the global gum arabic market on the basis of application, source,
and region:
Gum Arabic Application Outlook (Revenue, USD Million, 2015 -
2025)
·
Beverages
·
Dairy products
·
Confectionery
·
Pharmaceuticals
·
Others
Gum Arabic Source Outlook (Revenue, USD Million, 2015 - 2025)
·
Acacia Senegal
·
Acacia Seyal
Browse
more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For
more market analysis reports, please visit: http://www.grandviewresearch.com/
Comments
Post a Comment