Gum Arabic Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2023
Albany, NY -- (SBWIRE) -- 12/15/2016 -- Gum Arabic is produced from two Acacia trees found in the region of Sub-Saharan Africa, i.e. Acacia Senegal and Acacia Seyal. Acacia Senegal is known to produce high quality gum whereas the gum produced from Acacia Seyal is of low quality. Gum Arabic is the complex mixture of polysaccharides and glycoproteins and is the original source of arabinose and ribose sugar.
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The various functionalities of gum arabic makes it an important component in various industries. It is used extensively in the food industry. Moreover, it is used for manufacturing soft drinks, cosmetics and pharmaceuticals among others. The various properties of gum Arabic includes the functionality of stabilizing, thickening, coating, gelling, fat replacing and texturizing among others. The gum arabic on the basis of product type can be segmented into Vachellia Seyal gum and Senegalia Senegal gum. By application, the gum arabic market can be segmented into bakery products, confectionery, sauces and dressings, beverage products and dairy products among others.
The demand for the gum arabic is expected to be driven by the increased consumption of confectionery products and drinks. Moreover, the gum arabic market is also growing as a result of the increasing demand for dietary and healthy foods. Gum arabic is rich in fibre contents and thus is used on the context of it being natural in nature. Furthermore, the health benefits associated with gum arabic is also boosting its demand in the pharmaceutical industry as well.
However, as a result of the unstable supply and variability in price and quality, the global gum arabic market has shown fluctuations and considerable variations in terms of growth. This acts as a restraint for the gum Arabic market. Moreover the availability of close substitutes also acts as threat to this market. The various substitutes are Biosynthetic polysaccharides and modified starches among others. Furthermore, the production of gum arabic is affected by factors such as climatic changes and insect attacks.
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The gum arabic market possess tremendous potential as the demand for natural ingredients is increasing considerably among the consumers. This makes the gum arabic being widely used in the food sector. Moreover despite the presence of various substitutes, other gums can not completely replace the gum arabic as they don't perform the same function.
North America held the largest market share of the the global gum Arabic market in 2014 in terms of revenue. The North American gum arabic market is followed by Europe on account of it being one of the largest market of bakery and confectionery products. In terms of growth, the Latin America market is expected to be the fastest growing market for gum Arabic..Countries such as Sudan, Chad, Nigeria and Senegal are the largest producers of gum Arabic. In terms of exports, Sudan was the largest exporting country in 2014 and it supplies high-quality gum arabic to the European and North American countries.
Some of the key players operating in the gum arabic market are Nexeria, Gum Arabic Company, Kerry Group PLC, Agrigum International Limited, TIC Gums Corporation, Hawkins Watts and Farbest Brands among others.others.