Gum Arabic Market Size Worth $ 1,206.35 Million By 2027 | CAGR 6.1%: The Insight Partners
November 25, 2021
Increasing Application of Gum Arabic in Various Industries to Escalate Gum Arabic Market Growth at CAGR of 6.1% during 2020–2027
NEW YORK, UNITED STATES, November 25, 2021 /EINPresswire.com/ -- According to our latest market study on “Gum Arabic Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Type (Senegalia Senegal Gum and Vachellia Seyal Gum), Function (Thickener, Stabilizer, Gelling Agent, and Others), and Application (Bakery and Confectionery, Beverages, Dairy and Frozen Products, and Others),” the market was valued at US$ 759.74 million in 2019 and is projected to reach US$ 1,206.35 million by 2027; it is expected to grow at a CAGR of 6.1% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
Report Coverage Details
Market Size Value in- US$ 759.74 Million in 2019
Market Size Value by- US$ 1,206.35 Million by 2027
Growth rate- CAGR of 6.1% from 2020-2027
Forecast Period- 2020-2027
Base Year- 2020
No. of Pages- 143
No. Tables- 81
No. of Charts & Figures- 83
Historical data available- Yes
Segments covered- Type , Function , and Application
Regional scope- North America; Europe; Asia Pacific; Latin America; MEA
Country scope- US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage- Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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Gum Arabic, also known as acacia gum, gum sudani, Arabic gum, gum acacia, acacia, Indian gum, Senegal gum, and by other names, is a natural gum produced from the sap of the Acacia trees. Gum arabic is extensively used in several applications in the food & beverages industry. It is used to prepare toffees, pastilles, gums, and flavored beverages. The gum arabic market is witnessing significant growth due to increasing consciousness toward gum arabic's multi-functionality.
The diverse application of gum Arabic is an essential factor boosting the growth of the market. Gum Arabic is used in food and beverages, pharmaceuticals, and personal care industries. Gum Arabic serves as a thickening agent in the productions of chewing gums, as a binder in watercolor paints, as an additive in ceramic glazes, and the rolling papers used in cigarettes. Also, gum Arabic is the most popular natural emulsifier known globally, owing to its diverse application. Gum Arabic will register enormous growth in the upcoming year due to the global demand for natural products in the food and beverage industries. Consumers have switched to consuming natural food items because of the health benefits that are associated with natural foods. Globally, the multiple functions of gum Arabic to enhance the quality of the food products have led to the large-scale adoption of gum Arabic in various applications. Also, gum Arabic is used as an emulsifier, stabilizer, and thickening agent in icing, soft candy, fillings, chewing gum, and other confectionery, and to bind the sweeteners and flavorings in soft drinks. Gum Arabic is also added to milk and milk products to produce the desired beverage or dish. It includes applications where the gum Arabic is used to check the ingredients and impart richness and body to the drink.
Effect of COVID-19 on Gum Arabic Market
The COVID-19 outbreak was first reported in Wuhan, China, in December 2019. As of December 2020, the US, Brazil, India, Russia, France, the UK, Italy, Spain, Argentina, Colombia, Germany, and Mexico are among the worst affected countries in terms of COVID-19 confirmed cases and reported deaths. The COVID-19 pandemic is adversely affecting economies and industries in various countries due to lockdowns and business shutdowns. The food & beverages is one of the significant industries facing severe disruptions such as office and factory shutdown and supply chain break, which is restraining the growth of the global gum arabic market.
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Based on type, the gum arabic market is bifurcated into Senegalia Senegal gum and Vachellia Seyal gum. In 2019, the Senegalia Senegal gum segment dominated the market. Senegalia Senegal gum is a substance used in adhesives, pharmaceuticals, inks, confections, and other products. Acacia Senegal trees yield in all types of seasons, regardless of soil texture and climatic conditions. They are drought-tolerant, which proffers them suitable to grow in the drier parts of the globe. All these factors are driving the growth of market for Senegalia Senegal gum segment.
Gum Arabic Market: Competitive Landscape and Key Developments
AEP Colloids; Agrigum International Limited; Alland & Robert; Farbest Brands; Hawkins Watts Limited; ISC Gums; Kerry Group; Nexira; Somar Corp; and TIC Gums, Inc. are among the players serving the global Gum Arabic demands.
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