SAN FRANCISCO, Aug. 13, 2019 /PRNewswire/ -- The global gum arabic market size is expected to reach USD 555.9 million by 2025, according to a new report by Grand View Research, Inc., exhibiting a 5.9% CAGR during the forecast period. Gum arabic, also known as acacia gum, is a natural emulsifier used in various applications such as food and beverage, cosmetics, pharmaceuticals, and paints. It is primarily used as a filling and thickening agent in most confectionery items.
Key suggestions from the report:
- In terms of revenue, dairy products are expected to emerge as the fastest growing application segment, registering a CAGR of 7.4% over the forecast period. The ingredient serves as an effective encapsulation medium and stabilizer in dairy products
- By source, acacia Senegal dominated the global market with a share of 66.2% in 2018. These trees are known to yield in all seasons, regardless of soil texture and condition
- North America dominated the global market in 2018, accounting for 35.7% of the overall revenue. Growing beverage and dairy industries, driven by rising consumption of ready-to-eat foods, is expected to propel the gum arabic market
- The industry is highly competitive in nature. Key players include Gum Arabic Company; Nexira; Kerry Group; Tic Gums Inc.; Agrigum International Limited; Farbest Brands; and Archer Daniels Midland Company
- Manufacturers are concentrating on new product launches, capacity expansions, and technological innovation to estimate existing and future demand patterns.
Read 80 page research report with TOC on "Gum Arabic Market Size, Share & Trends Analysis Report By Application (Beverages, Dairy Products, Confectionery, Pharmaceuticals), By Source (Acacia Senegal, Acacia Seyal), By Region, And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/gum-arabic-market
The market is driven by increasing consumer spending on dietary and fiber-rich food products, especially in bakery applications. This can be attributed to growing purchasing power of consumers, along with significant spending in the beverage and confectionery industry in developing countries such as China and India. Rapidly growing bakery industry in several Asian and South American countries and with a rise in sales of natural and functional ingredients used in bakery products are key trends benefiting this market. Moreover, the ability of this ingredient to be instantly soluble in products and help retain flavors, colors, and aromas in various foods and beverages is expected to support product demand.
The ingredient plays a crucial role in dairy products, as an encapsulation medium and stabilizer. Its air-holding ability improves freeze-thaw stability in ice creams, yogurts, and other frozen desserts. Thriving e-commerce channels and increasing number of domestic bakery vendors have been providing players major opportunities for growth.
The market in North America held the dominant share of over 35.0% in 2018 and this can be attributed to a large consumer base, especially for beverages, confectioneries, and pharmaceutical products. Soaring sales of dairy products, particularly in countries like Japan, China, Australia, and India have been driving the Asia Pacific market, enabling it to register the fastest growth over the forecast period.
The market is characterized by several growth initiatives, such as acquisitions, mergers, online sales, and investment in research and development. Key players in the market include Gum Arabic Company; Nexira; Kerry Group; Tic Gums Inc.; Agrigum International Limited; Farbest Brands; Archer Daniels Midland Company; Ashland Inc.; Hawkins Watts; and Prodigy NIG Limited.
Grand View Research has segmented the global gum arabic market on the basis of application, source, and region:
- Gum Arabic Application Outlook (Revenue, USD Million, 2015 - 2025)
- Dairy products
- Gum Arabic Source Outlook (Revenue, USD Million, 2015 - 2025)
- Acacia Senegal
- Acacia Seyal
- Gum Arabic Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- South Africa
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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