The demand for goods and services in the gum arabic market is projected to be worth US$ 897.3 million in 2022 and US$ 1,796.7 million from 2022 to 2032, growing at a CAGR of 7.2%. A CAGR of 5.9% was recorded for the market between 2016 and 2021.
The multiple applications of gum in various sectors are driving the massive rise of the Arabic gum market. Gum arabic is a natural and adaptable product that is utilised in the food and beverage, pharmaceutical, and cosmetic sectors. Manufacturers are looking for new applications in response to rising customer demand for natural and plant-based products, which is propelling the market’s global expansion.
Gum arabic market records a consistent increase in demand globally owing to its vast industrial uses from the food and beverage industry to the painting industry.
Gum Arabic Market Growth Driver
The wide variety of uses for gum arabic is a major driver of market expansion. Pharmaceuticals, food and beverages, and personal care products all contain gum arabic. Gum arabic is also used in the creation of chewing gum, as a binder in watercolour paints, as a component in pottery glazes, and as a component in cigarette rolling sheets. Because of its diverse applications, gum arabic is the most well-known natural emulsifier in the world. Gum arabic’s diverse applications are propelling the sector forward.
Gum arabic will register a tremendous growth over the forecast period due to the global demand for natural products in the food and beverage industry. Consumers have made a switch toward the consumption of natural food items because of the health benefits associated with natural foods.
Furthermore, gum arabic is used in traditional lithography and printing. It is usually used for the printing seen on newspapers. Gum arabic provides the ink with excellent adhesion power that aids
the permanence of the print. Therefore, the diversity in application of gum arabic is a strong force fueling the growth of the market globally.
Gum Arabic Market Restraint
The worldwide gum arabic market is expected to contract due to abiotic factors such as climate change in countries where gum arabic is produced. In addition, political insecurity is a crucial factor promoting market sluggishness. Gum arabic-producing countries, particularly Sudan and Somalia, confront numerous obstacles. Because output will be limited as a result of these issues, the market will suffer in the future.
Also, chemical manufacturers have produced a variety of synthetic substitute which can be used in place of gum arabic for emulsification. Although these substitutes can’t match gum arabic, they are a threat to the gum arabic industry owing to the low price. Consumers might favor opportunity cost ahead of quality.
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Gum Arabic Market: Region-wise Analysis
In 2018, the gum arabic market was dominated by the North America region, whose share of the market was 35.0% of the total revenue gathered throughout the year. The region is projected to remain in the dominance of the global gum arabic market since it is the area with the most extensive consumer base for food and beverage products.
The Asia Pacific is the fastest-growing region for the gum arabic market. It is expected to record a double-digit CAGR over the foreseeable period with Japan, India, China, and Australia acting as drivers due to the soaring sales of dairy products. Also, the increase in demand for confectionery items within the region has a positive impact on the growth of the gum arabic market. Europe, Africa and Latin America are small regions in the market projected to register a moderate growth over the forecast period.
Gum Arabic Market: Competitive Landscape
- Gum Arabic Company
- Nexira
- Kerry Group
- Tic Gums Inc.
- Agrigum International Limited
- Farbest Brands
- Archer Daniels Midland Company
- Ashland Inc
- Hawkins Watts
- Prodigy NIG Limited.
Region-wise Analysis
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
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Report Highlights
The research report presents a comprehensive assessment of market and contains thoughtful insights, facts, historical data, and statistically supported and industry validated market data and projections with suitable set of assumptions and methodology. Research report provides analysis and information by categories such as market segments, geographies, types, technology and applications.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographie
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