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Natural Gum Market to Reach USD 1,423 Million by 2028
According to analysts at Vantage Market Research, the natural gum market is expected to reach USD 1,423 Million by 2028, growing at a CAGR of 4.7% from 2021 to 2028. The increase in the adoption of natural gums is preferred natural gum as their critical ingredients and alternatives for synthetic additives. This is mainly because natural gums are cost-effective and renewable in nature. Synthetic gums are also said to cause eye irritation and oral toxicity which furthers helps in expanding the natural gum market as individuals are more healthy conditions.
Natural gum market Preview
Some of the key players in the natural gum market include Cargill, Deosen Biochemical, Fufeng Group Company, Gum Technology Corporation, Hebei Xinhe Biochemical, Jungbunzlauer, CP Kelco, Meihua Holdings Group, Pfizer, Kantilal Brothers, Qingdao Unichem, Archer Daniels Midland, DuPont Danisco, Qingdao Unionchem, Sancho and Lee, Solvay Group, Unionchem among others. Continuous research and development have led to improved devices for signaling in emergency situations. The market is comprised of a high degree of competition due to the presence of numerous key players.
The increasing demand from various end-use industries is anticipated to augment the growth of the natural gum market during the forecast period. Natural gum is widely used in various industries like the oil and gas industry, chemical industries, oil and gas, food and beverages, pharmaceutical, and cosmetics, among others. The oil and gas industry is one of the most important industries that is used for liquid storage and supply. It is further used for the preparation of diesel slurry, enhanced oil recovery, fracking processes, cross-linking agent, deep oil well drilling, plugging holes and pour point depressants, etc. Natural gum is also widely used in the food and beverages industry. It is used in frozen foods, ice cream, cakes, noodles, sauces, soups, gravies, and other products. Hence, the increasing applications of natural gum in several industries across the globe are anticipated to support the growth of the natural gum market in the years to come.
Asia Pacific region is poised to record the highest CAGR at 7.6% from 2021 to 2028, owing to the increasing demand in countries, such as India, China, and Japan, coupled with the growth of the region's overall standard of living. However, the advent of domestic versions has brought down the prices, which is expected to drive the deployment.
Natural Gum Market to Reach USD 1,423 Million by 2028
18 Nov 2021
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Historical Data | Base Year
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Natural Gum Market to Reach USD 1,423 Million by 2028
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