Gum Hydrocolloid Market Scope
Market Research Future (MRFR) expects the gum hydrocolloid market to capture a growth rate of 4.7% over the evaluation period, which is between 2020 and 2027.
The global gum hydrocolloids market is expected to grow at a Significant CAGR During the Forecast Period. The market functions are witnessing a rise in productive market factors like the growing health-consciousness among consumers in North America and Europe.
The population in these regions is demanding natural products has driven the demand for natural food additives, especially during the ongoing forecast period. This rise in demand followed by the development of other market trends has driven the interest of food & beverage manufacturers to use natural gums in food. Natural gums, as a part of the global market, are useful as functional ingredients and as natural sources of soluble dietary fiber and are considered healthy ingredients. The rising awareness followed by the growing demand for a low-calorie diet has also been driving the Gum Hydrocolloid Market Size.
Prominent firms in the global market for hum hydrocolloid include Darling Ingredients Inc. (the U.S.), CP Kelco (the U.S.), Cargill, Inc (the U.S), and Rico Carrageenan. (Philippines), Kerry Group PLC (Ireland), Ingredion Incorporated (the U.S.), Ashland Inc. (the U.S.), and more.
Type, application, and functionality are the key segments that have been studied in the MRFR report, to present an exhaustive outline of the global market for gum hydrocolloid.
The major gum hydrocolloids available in the global market are guar gums, xanthan, gellan gum, alginate, carrageenan, Arabic gum, and others. Xanthan gum is the top segment in the market and will carry on thriving throughout the analysis period, owing to this type’s extensive use in food, medicines, toothpaste, and various personal care items.
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Primary applications of gum hydrocolloid are personal care products, dairy products, meat processing, confectionery, pharmaceuticals, bakery, and more. The leading spot has been captured by the bakery segment, while the confectioneries segment is positioned second. But the fastest growth trajectory will be charted by the personal care segment, on account of the technological advances in the cosmetic sector worldwide.
Functionality-wise, the segments considered in the report are a stabilizing agent, gelling agent, thickening agent, and others.
Asia Pacific/APAC, North America, Europe, as well as RoW/rest of the world are the prominent markets for gum hydrocolloid.
Most of the manufacturers in North America are focused on conducting exhaustive R&D and catering to the soaring demand for gum hydrocolloid in numerous end-use industries. Surging preference for natural food products in the face of rising adoption of a healthy lifestyle among consumers also benefits the regional market. As a result, the global market is currently headed by North America, while the US happens to be the most lucrative market for gum hydrocolloid in the region. The country is a major consumer of carrageenan and Xanthan gum, with the demand continuously rising in the food and beverage industry for different functionalities and applications.
In the Asia Pacific, the market size is burgeoning rapidly, thanks to the changing food consumption habits of the consumers influenced by the surging disposable income. China should expect to attain the leading position in the region, on account of the extensive product use in the food and beverage sector. The booming population and the abundance of key raw materials available in the country also add to the market strength. The Philippines happens to be the biggest producer of carrageenan and is one of the leading exporters to other regions.
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Industry News Update
These firms are channelizing their attempts at creating new technologies and products, utilizing innovative techniques to produce cost-effective products. They also strive to bring down risks in their supply chains to strictly adhere to the delivery needs. Big multinational firms are collaborating with smaller vendors to gain a stronghold in regional markets. Another strategic move made by these companies is focusing on expanding their production capacity, to accommodate the rapid increase in the product demand.
To illustrate, in June 2021, CP Kelco, a world-renowned developer of product ranges including gellan gum, xanthan gum, distant gum, and carrageenan that are nature-based, has set up an innovation facility. The new facility is part of the company’s expanding network of technical support and innovation units. The new facility also has research and development centers, a food and beverage plant, as well as a sensory assessment space to carry out sensory studies for comprehending consumer preferences and tastes.
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