Report Highlights
Global Gum Arabic Market
By Type (Vachellia Seyal Gum, Senegalia Senegal Gum), By Function (Coating Agent, Fat Replacer, Thickener, Gelling Agent, Texturant, Stabilizer, Others), By Application (Beverage products, Dairy products, Confectionery, Sauces and Dressings, Bakery Products, Others), By Region (Asia-Pacific, North America, Europe, Latin America, Rest of the World)
Market Overview:
The Global Gum Arabic Market was valued at USD 662.5 million in 2016 and is projected to reach USD 1167.7 million by 2025, growing at a CAGR of 6.50% from 2017 to 2025.
Gum Arabic is mostly obtained from the sap of the Acacia trees. These are majorly found in parts of Africa including countries like Nigeria and Chad. Gum Arabic binds all the food particles together, and also maintains all the physical qualities in that product. Gums, Toffees, and black beverages use major chunks of gum Arabic for emulsification and stabilization. Gum Arabic plays a major part in the food and beverage industry. A lot of pharmaceutical formulations also use gum Arabic to hold the ingredients in the drug.
Market Dynamics:
1. Market Drivers
1.1 Rising demand in end user industries (food and beverages, textiles and pharmaceuticals).
1.2 Shift from synthetic chemicals to natural products will increase the demand for gum Arabic in the market.
2. Market Restraints
2.1 Major climatic changes due to global warming.
2.2 Exploiting acacia forests.
Market Segmentation:
The Gum Arabic Market is segmented on the basis of Type, Function, Application and Region.
1. By Type:
1.1 Vachellia Seyal Gum
1.2 Senegalia Senegal Gum
2. By Function:
2.1 Coating Agent
2.2 Fat Replacer
2.3 Thickener
2.4 Gelling Agent
2.5 Texturant
2.6 Stabilizer
2.7 Others
3. By Application:
3.1 Beverage Products
3.2 Dairy Products
3.3 Confectionery
3.4 Sauces & Dressings
3.5 Bakery Products
3.6 Others
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
Competitive Landscape:
The major players in the market are as follows:
1. Prodigy NIG Limited
2. Gum Arabic Company
3. Hawkins Watts
4. Nexira
5. Ashland Inc.
6. Kerry Group
7. Archer Daniels Midland Company
8. Tic Gums Inc.
9. Farbest Brands
10. Agrigum International Limited.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Gum Arabic Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
To know more about the Research Methodology of Verified Market Intelligence and other aspects of the research study, kindly get in touch with our sales team.
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