Growing Demand For Convenience Foods Across The Globe To Foster Gum Fiber Market Outlook Over 2020-2026
New Delhi, July 30, 2020: The gum fiber market growth graph is slated to gain substantial momentum over the coming years owing to the increasing oil & gas drilling as well as extraction activities. Additionally, growing demand for convenience foods across the globe is also projected to foster industry expansion. As per market analysis, rising penetration of gum fibers in F&B for adding in texture, smoothness, and also keeping the dietary need intact in foodstuff will boost the market growth.
Significant health benefits, which includes reduced risk of obesity, strokes, diabetes, and cancers will further increase the market share.
Increasing research & development investments towards the development of potential usages of gum fibers across numerous industries will also drive business growth. Furthermore, mounting applications towards the preparation of food products with low glycemic–index,owing to its application as essential dietary fiber, will stimulate the industry size.
As per a research report by Global Market Insights, Inc., gum fiber market is estimated to surpass $1.8 billion by 2026.
In addition, several industry players are actively employing strategies such as acquisitions, joint ventures, partnerships, R&D, and new product launches to stay ahead of their competition, which is foster industry growth. For instance, in December 2019, Batory Foods, a leading food ingredients distributor in the U.S. acquired the assets of Polypro International, a well-known supplier of Procol, which is a food grade guar gum that is used as a binding, suspending, stabilizing, and thickening agent. The acquisition allowed Batory to establish itself as the biggest clean label texturants distributor in the U.S.
In terms of product, locust bean gum segment is likely to hold a revenue share of around 19% bythe end of the forecast timeframe. Prominent functional properties such as stabilizing, thickening,as well as water-binding features have improved their useacross food preparations like confectionary preparations, dairy, bakery items, and ice-creams for providing a fine texture along with a good mouthfeel.
The product is also utilized in the pharmaceutical sector, usually to manufacture gel formulations and injectable systems. In the textile sector, these bean gum delivers sharper outlines, consistency of shades, and deeper penetration of dyes along with high purity levels.
In terms of application, the pharmaceutical application segment is expected to witness gains of nearly 9% by the end of the projected time period owing to the growing research & development investments and creationof pharmaceutical supplements. It further has the capability to form gel or viscous dispersions inside aqueous media, which enables it to be utilized as agents and excipients in order to control the rate of drug release.
Furthermore, gum fibers are also utilized as disintegrate and binders in tablets and medicines owing to their exceptional adhesive properties. Rising consumer focus towards maintaining fitness and regulating body weight has improved the product penetration throughout the dietary supplement market.
Considering the product’s favorable characteristics, which give it a substantial scope of growth in the pharmaceutical and F&B sector, various industry players are using different strategies to leverage them for business growth. Citing an example, in April 2019, France based,Alland & Robert reportedly announced the signing of a JV with Sayaji Industries for the production of acacia gum in India.
On the geographical front, APAC gum fiber market is likely to witness growth of more than 10% by the end of the forecast timeframe. Growing per capita incomes coupled with the rising penetration of numerous multinational F&B industry manufacturers have driven consumer inclination towards healthy food products.Additionally, fast growth in oil & gas exploration activities coupled with the presence of vast technically recoverable resources acrossAustralia, China, and India will surge the market growthin the region.
Some of the key players operating in the gum fiber market are LBG Sicilia, Dupont, Cargill, Neelkanth Polymers, Nexira, Vikas WSP, and Lucid Group among others, are. Overall, the market is likely to be driven by new product launches, acquisitions, mergers among manufactures and increasing product demand among consumers.
Source: – https://www.gminsights.com/industry-analysis/gum-fiber-market
Corporate Comm India (CCI Newswire)
