Selbyville, Delaware, June 23, 2020 (GLOBE NEWSWIRE) --
Global Gum Fiber market value is expected to cross USD 1.8 billion by 2026, according to a new research report by Global Market Insights, Inc. Increasing demand for convenience foods coupled with rising oil & gas drilling and extraction activities globally will escalate the overall market growth.
Increasing penetration of gum fibers in food & beverages for adding texture, smoothness, and keeping the dietary requirement intact in foodstuff will drive the industry outlook. Key health benefits including reduction of risk of obesity, hypertension, cancers, diabetes, and strokes will proliferate the industry share. Moreover, high R&D investments for developing potential uses of gum fibers in various industries will propel business expansion. Growing applications in preparation of low glycemic–index food products due to its application as dietary fiber will foster the industry size.
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Locust bean gum will hold a revenue share of 19% in the global gum fiber market by 2026. Key functional properties including thickening, stabilizing, and water-binding characteristics have enhanced their usage in food preparations such as ice-creams, bakery items, dairy, and confectionary preparations for obtaining fine texture and good mouthfeel. It is also used in the pharmaceutical sector for manufacturing injectable systems and gel formulations. In textile sector, the product provides uniformity of shades, sharp outlines, and deeper penetration of dyes with high purity levels.
Some major findings of the gum fiber market report includes:
- Growing health conscious consumers across the globe along with introduction of natural and organic ingredients in convenience food & beverage products will foster the demand for gum fiber.
- Aging population and increasing prevalence of non-communicable diseases and chronic disorders are anticipated to fuel the growth of the pharmaceutical industry. This will support gum fiber industry growth over the forecast period
- Increasing consumer awareness of fiber intake levels for infants owing to a recommendation from government organizations for in infant formulae preparations will spur industry statistics.
- Increasing demand for natural ingredients in cosmetics owing to increasing consumer knowledge and favorable labelling norms is supporting product penetration.
- Surge in textile production in countries including China, India, U.S., Brazil & Pakistan owing to excellent export opportunities and easy raw materials availability will foster gum fiber market trends.
- Comprehensive functional properties of the product including non-toxicity, biodegradable, thickening, stabilizing, emulsification, film forming, and as gelling agents in mining applications will foster product demand.
- Increase in exploration and drilling activities for extraction of technically recoverable resources in the U.S, China, Canada, Argentina, Norway, Russia and India is expected to boost overall market outlook.
- Some of the key market players manufacturing gum fiber are Nexira, Lucid Group, Dupont, Vikas WSP, Cargill, LBG Sicilia and Neelkanth Polymers.
- Gum fiber industry for oil & gas application incurred the highest CAGR and the sector is further anticipated to witness significant gains due to substantial growth in adoption of hydraulic fracking and oil well drilling activities by the oil & gas industry.
- Asia Pacific region acquired significant share in the global market.
Browse key industry insights spread across 250 pages with 186 market data tables and 40 figures & charts from the report, “Gum Fiber Market Outlook By Product (Gum Arabic, Guar Gum, Locust Bean Gum), By Application (Food [Frozen Foods, Confectionary, Beverages, Dairy], Oil & Gas, Mining & Construction, Textile, Pharmaceutical, Personal Care & Cosmetics), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/gum-fiber-market
Gum fiber market from pharmaceutical application is anticipated to witness gains over 9% through 2026 due to increasing R&D investments and development of pharmaceutical supplements. It has ability to form viscous dispersions or gel in the aqueous media, hence are used as excipients and agents for controlling the rate of release of the drugs. They are also used as binders & disintegrate in medicines and tablets due to its excellent adhesive property. Increased consumer focus to maintain fitness and regulate body weight has enhanced product penetration in the dietary supplement industry.
Manufacturers are engaged in strategic expansion initiatives including partnerships, acquisitions, joint ventures, new product launch, and R & D activities to improve their market share and compete with major players. For instance, in October 2018, Nexira announced to enter into a partnership with Synthite, India-based spice oleoresins leader for the production of acacia gum. This s strategic collaboration will help the company to expand its presence in India and Asia Pacific region and enhance its overall market share.
The Asia Pacific gum fiber market is anticipated to witness over 10% CAGR through 2026. Increasing per capita incomes supported by penetration of large-scale multinational F&B manufacturers have shifted the consumer preference towards healthy products. Besides, rapid growth in oil & gas exploration activities and presence of enormous technically recoverable resources in India, China, & Australia will escalate the industry landscape in the region.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.