NEW YORK, Feb. 11, 2019 /PRNewswire/ -- Persistence Market Research's latest report titled 'Food Grade Gellan Gum Market: Global Industry Analysis 2013–2017 and Forecast 2018–2026' states that the food grade gellan gum market is expected to be valued at US$ 136.6 Mn at the end of 2018 in terms of sales revenue and reach US$ 187.4 by the end of 2026 in terms of value. The overall global sales revenue of the food grade gellan gum market is expected to grow at a CAGR of 3.9% in terms of value from the estimated year 2018 to the forecast year 2026.
Increasing Demand for Gelling Agents from Confectionary Manufacturers to Drive Growth of Global Food Grade Gellan Gum Market
The global food grade gellan gum market is characterized by fragmentation and stiff competition. The confectionery industry registers for large-scale consumption of food grade gellan gum, when compared with other end-use segments such as bakery, meat & poultry, beverage, dairy, sauces and dressings. Moreover, attributing to the increase in the demand for gelling agents from confectionery manufacturers, it is expected that the food grade gellan gum market will witness significant growth in terms of both value and volume during the forecast period (2018–2026).
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Competition in the food grade gellan gum market is high with the presence of various organized players. This accelerates the development of various innovative and novel products, which is one of the major factors expected to enhance the growth of the food grade gellan gum market in terms of value and volume during the forecast period (2018–2026).
Low Acyl Food Grade Gellan Gum Segment to Remain Prominent With a 73.4% Value Share by the End of 2026
Among the segments by product type, the low acyl food grade gellan gum segment is expected to remain prominent with a significantly high market share of 72.9% in terms of value by the end of 2018. The segment's share is expected to rise to 73.4% by the end of the forecast period. The high acyl food grade gellan gum segment in the overall food grade gellan gum market is expected to account for a market share of 27.1% in terms of value by the end of 2018 and reach 26.6% by the end of 2026.
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Gelling Segment to Remain Prominent With a 37.2% Value Share by the End of 2026
Among the segments by application, the gelling segment is expected to remain prominent in the overall global food grade gellan gum market with a market share of 37.2% by the end of 2018. The segment is expected to reach a value share of 38.3% by the end of 2026. The texturizing segment is pegged to be next in line with a significantly high market value share of 25.5% by the end of 2018. It is expected to reach a share of 26.3% in terms of value by the end of 2026.
Confectionery Segment to Hold a Significant Value Share of 36.7% by the End of 2026
Among the segments by end use, the confectionery segment is expected to hold a prominent market share of 36.0% by the end of 2018 and reach 36.7% by the end of 2026. The baking segment is pegged to be next in line with a significant market value share in the global food grade gellan gum market.
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Key Producers of Food Grade Gellan Gum
Some of the key players included in the food grade gellan gum market report are CP Kelco, DowDuPont Inc., Cargill, Inc., Ingredion Inc., Hawkins Watts, Fufeng Group, Koninklijke DSM N.V., Dancheng Caixin Sugar Industry Co. Ltd., Zhejiang Tech-Way Biochemical Co., Ltd., Hangzhou Gellan Solutions Biotec Co., Ltd., Hebei Xinhe Biochemical Co., Ltd., Meron Group, Lidgen Hangzhou Gellan Solutions, and Biopolymer International.
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The Global Food Grade Gellan Gum Market has been segmented as presented below:
Global Food Grade Gellan Gum Market, By Geography:
- North America
- Latin America
- South East Asia & Other APAC
- Middle East & Africa
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