Gum Arabic Market Research, Key Players, Analysis And Forecast 2025: Grand View Research Inc.

 

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.

Amidst the global pandemic crisis and the indefinite lockdown across nations, the consumer food & beverage industry first witnessed high demand for household staples, healthy food items, and consumables with longer shelf lives. The demand for frozen food products, fruits & vegetables, eggs, flour, and whole grains, among others, witnessed a considerable increase during the early stages of the crisis. Presently, most companies in the industry are faced with low consumption of their products and supply chain challenges. The companies are focusing more on altering their supply chains in order to reinforce their online presence and delivery measures, in an attempt to adapt to the present business environment. The changes in consumer buying behavior and the dynamic shifts towards online and D2C distribution channels may have serious implications on the near future growth of the industry. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections.

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.

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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.

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.

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.

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The market is characterized by several growth initiatives, such as acquisitions, mergers, online sales, and investment in research and development. Manufacturers are also concentrating on new product launches, capacity expansions, and technological innovation to estimate existing and future demand patterns. 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. Key trend players have been relying on in the market is forming strategic partnerships to build and strengthen their network of high-quality raw material suppliers.

Grand View Research has segmented the global gum arabic market on the basis of application, source:

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

About Grand View Research

Grand View Research, Inc. is a 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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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