VALLEY COTTAGE, New York, March 17, 2016 /PRNewswire/ --
According to the latest market report published by Future Market Insights (FMI) titled "Cassia Gum Market: Global Industry Analysis and Opportunity Assessment 2015-2025", the cassia gum market was valued at US$ 10.1 Mn in 2015. It is expected to expand at a CAGR of 6.5% from 2015 to 2025, accounting for US$ 18.9 Mn by 2025.
Cassia gum made from the endosperm of Senna obtusifolia (also called Cassia obtusifolia or Cassia tora) is used as a food additive in food & beverage and manufacturing industry. Cassia gum is used as a gelling agent, stabilizer and thickener in food & beverage industry. Various technical applications of cassia gum are foam stabilization, emulsification, moisture retention and texture improvement. Key macroeconomic indicators directly influencing the global cassia gum consumption are growth in dairy ingredients market, confectionery market and growth in pet food market.
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Till now cassia gum was preferred to be used as an alternative to gaur gum because of limited awareness and limited research and development activities. However with regulations approvals in various regions around the world and innovations in cassia gum formulations in dairy & confectionery products and pet food, cassia gum is expected to experience an upward trend during the forecast period. Companies are increasingly introducing Cassia in their new products, particularly in baby food, dairy and confectionery products such as chocolates, jellies, biscuits. Effective guidelines & standards are crucial across the cassia gum supply chain both for suppliers as well as international buyers. In countries such as India and China; which are the major producer and supplier of cassia gum, there is a near total absence of cassia gum specific rules and standards addressing both production and processing phase. This often hampers quality of Cassia Gum being imported by customers. Some other market restraints for cassia gum market are overdependence of Cassia Gum farmers on monsoon and availability of Alternatives at lower price points.
On the basis of food & beverage industry, the cassia gum market has been segmented into animal food (dog food, cat food, and animal feed), dairy & confectionery products, meat products and instant mixes. In animal food segment, dog food sub- segment is anticipated to account for a major share in the cassia gum market by 2025, in terms of value. The instant mixes segment is expected to witness the highest CAGR of 7.1% in terms of value, during the forecast period (2015-2025).
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On the basis of manufacturing industry, the cassia gum market is segmented into cosmetics, pharmaceuticals, paper, textile, chemical processing and others (Mining, Oil & Gas). Demand for cassia gum in cosmetics sub-segment is expected to increase rapidly in the near future with over 48% share, in terms of value by 2025. Increase in demand of natural hair care formulations offering improved hair conditioning is also driving the usage of cassia gum in cosmetics sub-segment. Cassia hydroxypropyltrimonium chloride polymers are naturally derived from cassia gum which are for use in conditioning shampoo formulations. Cassia hydroxypropyltrimonium chloride polymers offer unique sensory experience, improved deposition and enhanced conditioning. Demand for pharmaceuticals sub-segment is expected to witness a CAGR of 6.3% during the forecast period.
The report provides detailed information about various trends driving each segment and offers insights and analysis about market trends in specific regions. The report also includes key market regulations regarding the application of cassia gum in aforementioned food & beverage and manufacturing industry applications. On the basis of region, the market is segmented into seven regions. North America is expected to dominate the market with 29.1% share by the end of 2015. APEJ and Western Europe markets are collectively estimated to account for 34.8% of the total cassia gum market value.
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The report also delivers global cassia gum market opportunities, future outlook, trends, BPS analysis, market attractiveness analysis and competitive landscape of the key players in the cassia gum market. The key players in the report have been profiled on the basis of company overview, financials, operating segment share, product and service offerings and key developments.
Key players in the global cassia gum market include Agro Gums, Amba Gums & Feed Products, Avlast Hydrocolloids, Altrafine Gums, Premchem Gums Pvt. Ltd., Dwarkesh Industries, H.B. Gum Industries Private Limited, Fooding Group Limited, J D Gums and Chemicals.
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