The Gum Arabic Market for 2022–2032: Key Players’ Sales, Positioning, and Future Prospects
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.
Gum arabic is a natural emulsifier obtained from acacia senegal and acacia seyal trees. It serves a variety of purposes in various industries. The majority of the world gum arabic is produced in Africa where countries like Sudan, Nigeria, and Chad have the highest production.
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.
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Gum Arabic Market Growth Driver
The diverse application of gum arabic is a significant factor fueling the growth of the market. Gum arabic is used in pharmaceuticals, food and beverages, and personal care industries. Also, gum arabic serve as a thickening agent in the productions of chewing gums, as a binder in watercolor paints, as an additive in ceramic glazes and the rolling papers used in cigarettes. Gum arabic is the most popular natural emulsifier known globally owing to its diverse application. Gum arabic diverse application is a fuel driving the growth of the industry.
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 global gum arabic market is projected to decline in growth globally owing to abiotic factors such as a climatic change in nations where gum arabic is produced. Also, political instability is a significant force fostering the retardation of the market. Countries that are producing gum arabic, especially Sudan, and Somalia, are faced with many challenges. These challenges will hurt the market in the future since production will be limited.
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.
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
- Kerry Group
- Tic Gums Inc.
- Agrigum International Limited
- Farbest Brands
- Archer Daniels Midland Company
- Ashland Inc
- Hawkins Watts
- Prodigy NIG Limited.
- 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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Global Gum Arabic Market Segment Analysis
The global gum arabic market can be segmented on the following basis:
- Gelling Agent
- Fat replacer
- Pharmaceutical Industry
- Food and Beverages Industry
- Printing & Painting
- Film forming
- Fat substitute
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