The gum arabic market is projected to reach a value of $800.3 Million by 2019. In 2014, the market was dominated by North America, followed by Europe, in terms of consumption. The Latin American market is projected to grow at the fastest CAGR, owing to the rapid growth in the gum arabic markets of developing countries such as Brazil and Argentina. Furthermore, the growing awareness about multi-functionality of gum arabic and the associated medicinal benefits of gum arabic are also driving these markets.
Dallas, TX -- (SBWIRE) -- 07/30/2015 -- The report "Gum Arabic Market - Global Forecast to 2019", defines and segments the market on the basis of type, application, function, and region, along with analyses and projections of the market size of each of these segments in terms of value and volume. It also identifies the driving and restraining factors for the gum arabic market with an analysis of the trends, opportunities, burning issues, and winning imperatives.
Browse 68 market data tables and 41 figures spread through 110 pages and in-depth TOC on "Gum Arabic Market - Global Forecast to 2019"
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Gum arabic can be defined as the hardened sap obtained from acacia trees, from arid areas in Africa. It is used to perform various functions and has numerous applications in the food & beverages industry. A proper understanding of the functions of gum arabic allows food & beverage producers to use their potential contributions to meet the consumer demands. The functions of gum arabic include thickening, stabilizing, gelling, coating, texturizing, and fat replacing. The changing lifestyles and rising disposable incomes among consumers are some of the major factors fueling the market for gum arabic.
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On the basis of type, the market has been segmented into Senegalia Senegal gum and Vachellia Seyal gum. On the basis of application, the gum arabic market has been segmented into confectionery, sauces and dressings, bakery products, dairy products, and beverage products, among others. According to functions, the gum arabic market has been categorized into thickener, fat replacer, stabilizer, gelling agent, coating agent, and texturant.
The Gum Arabic Market is projected to reach $800.3 Million by 2019, at a CAGR of 6.7% from 2014 to 2019. In 2014, North America was the largest market for gum arabic. The North American gum arabic market is closely followed by Europe, as it is one of the largest consumers of bakery and confectionery products. Latin America is projected to be the fastest-growing market for gum arabic during the review period. The growth of the global market is driven by the rising income levels, multiple functionalities of gum arabic in the food & beverages industry, and the rising awareness regarding the medicinal benefits of gum arabic.
The report includes marketing and development strategies, along with the product portfolio of the leading companies in the market. It includes the profiles of the leading companies, such as Gum Arabic Company (Sudan), Nexira (France), TIC Gums (U.S.), Kerry Group (Ireland), and Alland & Robert (France), among others. These key players in the market are focusing on new product launches and expansion of their facilities to sustain and strengthen their positions in the global market.
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