Presently, the demand for confectionery and beverage products is increasing in Asia-Pacific, mainly owing to the increasing disposable incomes of consumers from developing countries of the region. The confectionery segment is the largest application segment in the global gum arabic market, wherein it is used as a stabilizer, thickener, and texturant. With the rising disposable incomes of consumers and changing food habits towards processed food, there will be a positive impact on the gum arabic market in the near future. However, the unreliable supply and political instability in the gum arabic producing countries such as Sudan and Nigeria may affect the growth of the market. Development of new ways of gum arabic applications in the food & beverage industry is paving new opportunities for the gum arabic market.
The gum arabic market has been segmented on the basis of application into confectionery, beverage products, bakery products, dairy products, and sauces & dressings. The market has been segmented on the basis of type into Senegalia Senegal gum and Vachellia Seyal gum. On the basis of function, the market has been segmented into thickener, fat replacer, stabilizer, gelling agent, coating agent, and texturant.
Bottom-up and demand-side approaches were used to arrive at the market sizes and obtain the market forecast. Extensive secondary research was conducted to understand the market insights and trends, which were further validated through primary interviews.
The gum arabic market is projected to reach a value of $800.3 million by 2019, at a CAGR of 6.7% from 2014 to 2019. It is projected to grow as a result of new functions being discovered in different applications and companies expanding their footprints in new geographic regions.
The report provides both qualitative as well as quantitative analyses of the market for gum arabic. It includes the market dynamics, opportunities, trends, competitive strategies preferred by key market players, the driving factors that boost the growth of the gum arabic market, and restraints of the market.
To maintain a competitive edge in the gum arabic market, the key players invest heavily in the launch and development of new products, and also in expansions. The leading players, such as Gum Arabic Company (Sudan), Nexira (France), TIC Gums (U.S.), Kerry Group (Ireland), and Alland & Robert (France), have been profiled in the report. The report also provides a complete analysis of the prominent companies and a chronology of developments with respect to new products launched and their applications.
SCOPE OF THE REPORT
The research study categorizes the global gum arabic market on the basis of type, application, function, and region.
Gum Arabic Market
On the Basis of Type:
Senegalia Senegal Gum
Vachellia Seyal Gum
On the Basis of Application:
Sauces & Dressings
On the Basis of Function:
On the Basis of Region: