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
- The Food Grade segment is projected to expand at the fastest over the forecast period owing to the standards set by various governing authorities and the safety of the ones consuming these food-grade natural gums.
- Natural gums are primarily used in the food industry as thickening agents, gelling agents, emulsifying agents, and stabilizers
- The Food and Beverages segment held a market share of around 39.8% in 2020. This share is due to the rise in consumption by millennials.
- The Asia Pacific is expected to expand fastest among regions and is projected to have a share of about 35%. This surge is attributed to the rising demand for natural gum in developing economies such as China and India and with an increase in the standard of living in these areas.
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.
The Natural Gum is segmented as follows:
Global Natural Gum Market: Type Segment Analysis
- Food Grade and Industry Grade
Global Natural Gum Market: Application Segment Analysis
- Oil and Gas
- Food and Beverages
Global Natural Gum Market: Segment Analysis
Global Natural Gum Market: Segment Analysis
Browse market data Tables and Figures
Pages and in-depth TOC on "Natural Gum Market by Type (Food Grade and Industry Grade) by Application (Oil and Gas, Food and Beverages, Pharmaceutical, Cosmetics) , by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa): Global Market Assessment, 2021 – 2028"
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
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