Gum Hydrocolloid Market: Global Segments, Top Key Players, Size And Recent Trends By Forecast To 2033
The gum hydrocolloid market is projected to be US$ 11,983 million in 2023. The value in 2022 was US$ 11,342 million. The forecast of the market is average as the CAGR during the period from 2023 to 2033 is 5.2%. By the end of the forecast period in 2033, the market’s valuation is tipped to have reached US$ 19,873 million.
Growing health trends are seeing a large customer base form
for natural-based products. Gum hydrocolloid is emerging as a popular
plant-based ingredient. The product is used in several foods, such as bakery,
dairy, confectionery, and processed meats. Thus, there is a strong demand for
gum hydrocolloid.
Get a Sample of the Report! https://www.futuremarketinsights.com/reports/sample/rep-gb-596
However, the application of gum hydrocolloid is not limited
to the food & beverages industry. Gum hydrocolloids are also being used in
cosmetic products. Chemical cosmetic products are being rejected in favor of
naturally-sourced products. Gum hydrocolloids are predicted to play a big part
in cosmetic product manufacture. Similarly, gum hydrocolloids also find
application in the pharmaceutical sector.
There are hindrances to the growth of the market, however.
Gelling agents are regulated strictly by authorities and the pace of products
getting approval is sometimes slow. Difficulties with the supply of raw
materials, which can be seasonal, are a further challenge for the market.
“Through investment in Research & Development,
manufacturers are improving the quality of the product. Gum hydrocolloids are
already renowned for being high in fiber and low in calories but companies are
looking to further increase benefits. Thus, the adoption of gum hydrocolloid as
a fat substitute is gaining momentum. Companies can tap into the
ever-increasing health benefits of gum hydrocolloid as an opportunity to
further appeal to consumers,” says an analyst at FMI.
Key Takeaways from the Gum Hydrocolloid Market
- The
gum hydrocolloid market is anticipated to have reached a valuation of US$
11,983 million in 2023.
- Xanthan
Gum is the most popular of the product types of gum hydrocolloids. In
2023, xanthan gum is projected to contribute to 17.90% of the market
share.
- In
terms of source, the plant is the leader. Plant as a source is expected to
account for 29.80% of the market share.
- Germany
has enormous potential for the market. The CAGR for Germany over the
forecast period of 2023 to 2033 is an outstanding 14.0%.
- Japan
is a lucrative region in the market. The Japanese market is expected to
progress at an extraordinary CAGR of 13.0% over the forecast period.
- The
market is expected to gain speed rapidly in Australia. The CAGR for
Australia during the 2023 to 2033 period is tipped to be a remarkable
12.2%.
Competition Analysis of the Gum
Hydrocolloid Market
The fragmented nature of the market means that while
established players thrive, smaller players have scope too. The fragmented
nature also ensures the market is highly competitive. Some of the prominent
companies in the market are Cargill Inc., Kerry Group PLC, Archer Daniels
Midland Company (ADM), and E. I. Du Pont De Nemours & Company.
Recent Developments in the Gum
Hydrocolloid Market
- In
January 2023, French players Alland & Robert introduced the Syndeo
Gelling product in the market. Syndeo Gelling contains a mix of gum acacia
and plant-based hydrocolloids.
- In
October 2021, Ingredient Solutions, Inc. was acquired by Tilley Co. Using
the acquirement, Tilley Co. stepped into the gum hydrocolloid market.
- In
September 2021, reputed player Cargill Inc. opened a plant in Brazil. The
plant is focused on producing the hydrocolloid pectin.
Key Companies in the Gum Hydrocolloid Market
- Cargill
Inc.
- Kerry
Group PLC
- Archer
Daniels Midland Company (ADM)
- E.
I. Du Pont De Nemours & Company
- Royal
DSM
- Danisco
A/S
Key Segments
By Product Type:
- Gelatin
- Xanthan
gum
- Carrageenan
- Alginates
- Agar
- Pectin
- Guar
gum
- Locust
bean gum (LBG)
- Gum
Arabic
- Carboxymethyl
cellulose (CMC)
- Microcrystalline
cellulose (MCC)
By Source:
- Plant
- Microbial
- Animal
- Seaweed
- Synthetic
By Region:
- North
America
- Latin
America
- Europe
- South
Asia
- East
Asia
- Oceania
- Middle
East and Africa (MEA)
Information Source:
https://www.futuremarketinsights.com/reports/gum-hydrocolloid-market
Comments
Post a Comment