The gum fiber market is expected to witness substantial growth by 2027 driven by the surging product demand from diverse end-use verticals. Moreover, increasing research focus on expanding the scope of utilization of gum fiber in food products, is projected to further fuel market growth through the forecast period.
Recently, gum fiber has been gaining significance as a key fiber source in different foods. Gum Arabic, also known as acacia gum, is considered as a source of soluble fermented dietary fiber and has been safely used in food products in recent years due to its several functional properties.
Notably, it is also being used in sugar-free food and beverages for its ability to compensate the loss of texture, volume, and mouthfeel in products with reduced sugar content. Moreover, with the advent of the ???clean labels??? movement, industry players have been working on including more natural ingredients in their innovative plant-based products.
For instance, in June 2021, Nowadays, an alternative protein company, introduced its frozen plant-based chicken nuggets. The nuggets have been made using an ???ultra-short??? list of ingredients, including gum arabic, mushroom extract, and whole wheat flour, among others, without any added sugar, salt, starch, or methylcellulose.
For comprehensive assessment, the gum fiber market has been segmented on the basis of product, application, and region. In terms of product, the market has further been bifurcated into gum arabic, locust bean gum, guar gum, and others. The gum fiber market from the others sub-segment is anticipated to grow at a CAGR of around 8.5% through the assessment period.
From the application perspective, the gum fiber market has been divided into food (confectionary, frozen foods, dairy, beverages, others), mining & construction, oil & gas, textile, pharmaceutical, personal care & cosmetics, and others.
The gum fiber market valuation from the beverages application segment is expected to surpass USD 120 million by 2027. Increasing organic beverages demand owing to rising health awareness among the population, along with the soaring purchase parity among consumers, is expected to propel segmental growth through the analysis time period. The others food application segment is projected to witness lucrative growth by 2027, progressing at a CAGR of approximately 9% through the estimated timeline.
With respect to region, the LATAM gum fiber market is anticipated to observe steady growth at over 9.5% CAGR through the forecast time period. The expanding pharmaceutical sector driven by the mounting domestic demand for effective medications is expected to fuel regional market growth through the following years.
The MEA gum fiber market was valued at more than USD 20 million in 2020 and is calculated to progress at a considerable pace through 2021-2027. Supportive government initiatives have boosted the construction of attractive buildings and commercial spaces in the region, which is anticipated to support market adoption through the assessment period.