New York, US, Sept. 02, 2022 (GLOBE NEWSWIRE) -- Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Gum Arabic Market Information by Type, Function, Application, and Region- Forecast till 2030”, the market is estimated to acquire a size of over USD 1,653.88 million by the end of 2030. The report further predicts the market to thrive at a healthy CAGR of over 6.78% during the review timeframe.
Market Synopsis
Acacia species, particularly Senegalia (Acacia) Senegal and Vachellia (Acacia) Seyal, are the source of gum arabic. West Africa, central Sudan, and central Africa all include these trees. Insoluble medications frequently contain Gum Arabic as a suspending agent. Medicinal, personal care, and food and beverage sectors frequently employ it as stabilizers and emulsifiers. The substance detoxifies the body while acting as a prebiotic to support digestive health.
Additionally, it eases diarrhea and constipation and lessens gastrointestinal inflammation. This fiber is simple to consume because it is readily soluble in water. Consumer expenditure on nutritious and fiber-rich food products is rising, notably in baking applications, which drives the global market. This might be linked to rising consumer spending power and large expenditures in developing nations' beverage and confectionery sectors. Any increase in this business positively affects product demand because the component is utilized as a filler and thickening agent in most confectionery and bakery items. The increased preference for variety in food items will further create unparalleled opportunities in the Gum Arabica Market.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 1,653.88 Million |
| CAGR | 6.78 % (2020–2030) |
| Base Year | 2019 |
| Forecast Period | 2020-2030 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Function, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Used in chewing gums production as a thickening agent |
| Used for ceramic glazes as an additive |
Market Competitive Landscape:
The illustrious contenders in the Gum Arabic market are:
- Ashland Global Specialty Chemicals Inc
- Agrigum International Limited
- Farbest Brands
- Alpha Agricultural Processing Co. LTD
- SOMAR Corporation
- Kerry Group plc Tic
- Gums Inc
- The Gums and Colloids Group
- Nexira
- Archer Daniels Midland Company
- Hawkins Watts Limited
- E. Roeper GmbH
- Alland & Robert S.A Dar Savanna Ltd
- Harvest Gum Ltd
Market USP Covered:
Market Drivers:
As an alternative, the gum Arabic is frequently employed as a thickening ingredient in the manufacture of chewing gums. Gum arabic powder is also used as a stabilizer in ceramic glazes, as a glue in rolling papers, and as a holder in the production of watercolor paints. Additionally, the food industry heavily utilizes gum Arabic as a microencapsulating agent in the production of confections, beverages, baked goods, and dairy products. As a result, gum arabic goods had the quickest rate of growth during the assessment. The number of domestic vendors is expanding, and more e-commerce platforms are available, which means that important players and manufacturers have more options to grow.
Another significant factor creating prospects for the producers and other key stakeholders of gum arabic liquid is customers' growing demand for natural ingredients. Gum arabic is used more frequently as a functional ingredient in soft drinks, milkshakes, fruit-flavored drinks and beverages, and various soft-alcoholic drinks by beverage producers and producers of edible flavors syrups, and concentrates.
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Market Restraints:
Due to a deficiency of raw materials and fluctuating gum Arabic product prices, there may be limitations on the worldwide gum Arabic market. Coronavirus has recently presented a significant challenge to the worldwide gum Arabic market. Nearly all of the global market's producers and manufacturers have been impacted by this pandemic, which has directly impacted global market demand.
COVID 19 Analysis
Few competitors were willing to invest in Arabic gum goods, and the global market was losing money. As a result, the major players on the international stage have embraced some sensible concepts and strategies to boost the stagnant demand for gum Arabic goods. According to the current situation, the global market is expected to increase its market revenue during the anticipated period. Although there is a reasonably high demand for gum arabic as a natural binder in the baking and confectionery industry, it has no health risks when consumed, in contrast to synthetic binders that will further drive market growth.
Market Segmentation
By Type
For the duration of the forecast, it is anticipated that the Senegalia (Acacia) Senegal type segment will account for the greatest market share. It has also been forecasted that the global market will have the fastest growth.
By Function
The largest market share over the predicted period belongs to the thickeners or thickening function.
By Application
The market for food-grade gum arabic is expected to grow most strongly in the food and beverage application category.
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Regional Insights
For the duration of the research, North America is anticipated to account for the biggest market share for food-grade gum arabic. The US and Canada are making greater contributions to expanding this region's global gum Arabic market. Additionally, it is anticipated that Asia-Pacific will see the largest growth rate in the gum arabic market during the evaluation period. Due to the expanding use of gum arabic in the personal care and pharmaceutical industries, this region is expanding. In addition, it is estimated that the growing use of gum arabic in printmaking, pottery, and painting will significantly contribute to the growth of the gum arabic industry in this region.
Additionally, gum arabic is widely utilized to replace the loss of mouthfeel, consistency, and body in lower-calorie confectionery items. This typically happens as a result of artificial sweeteners replacing sugar. Gum arabic is also frequently used in chewing gum as a coating agent and pigment stabilizer. Additionally, a high rate of consumption growth is anticipated for gum arabic due to expanding industries in the Asia-Pacific region and the food and beverage sector in the gum arabic market in North America. A thriving pharmaceutical industry contributes to regional development as well. The chemical is used in many pharmaceutical formulations; therefore, demand for it is anticipated to stabilize over the years.
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