The new report by the Food and Beverage Market Reports has been published today. It provides updated in 2018 year analysis of food and beverage industries.
The global cassia gum market was valued at USD 10.1 million in 2015 and is estimated to witness a CAGR of XX.XX% during 2017-2022 (forecast period).
Cassia gum is preferred as an alternative to guar gum, owing to the limited awareness and limited R&D activities. The approval of regulations in various regions, around the world, drive the market. Another concerning factor is the innovation in cassia gum formulations in dairy & confectionery products and pet food, owing to which cassia gum is expected to experience an upward trend during the forecast period.
The cassia gum regulations approval has spread across many regions, worldwide, thus, adding to the global demand. Companies are increasingly using cassia in most of their new products, such as baby foods, and dairy products, as well as confectionary foods, such as jellies and biscuits. The primary reasons for preferring cassia gum powder is its affordability, availability and efficiency. Many countries in the European region, China and Japan have approved the use of cassia gum powder. In countries, which are the major producers and suppliers of cassia gum, such as India and China, there is a complete absence of cassia gum specific rules and standards addressing both, production and processing phase. It often hampers the quality of cassia gum that is imported by customers. Some other restraints for the cassia gum market are overdependence of the farmers on monsoon and availability of alternatives at lower price points.
The cassia gum market can be segmented by application and geography. By application, cassia gum finds a market in the food & beverage and manufacturing industries. Regarding the food and beverage market usage, cassia gum has been grouped into animal food, dairy, confectionary products, meat products and instant mixes. The dog food subsection under the animal food segment is anticipated to account for a major share of the demand, regarding value, by 2022. The instant mixes sub-segment is expected to witness the highest CAGR of up to 4.2%, by value, during 2014-2022.
In the manufacturing industry, the cassia gum market can be classified into the cosmetics, paper, textile, pharmaceuticals, chemical processing and others. The demand for cassia gum in the cosmetics sub-segment is also expected to advance rapidly in the years to come, with a 36% increase. In the area of natural hair care formulations, cassia gum powder is important in the improvement of hair conditioning, which has also contributed to the increased demand from the cosmetic segment. The pharmaceutical products sub-segment is expected to witness a CAGR of 3.9 %, regarding demand, during the forecast period.
The global cassia gum market is segmented geographically into North America, South America, Europe, Asia-Pacific, and Africa.
On a regional basis, the market is segmented into several regions, such as North America; which is expected to dominate the market share by approximately 30%, by 2017; followed by Asia-Pacific, Africa, and Western Europe. The demand in Western Europe is expected to remain at 34.8% of the total market, by value. The APEJ and Western European markets are, collectively, estimated to account for 34.8% of the total cassia gum market value.
Companies are increasingly introducing Cassia in their new products, particularly in baby food, dairy, and confectionery products, such as chocolates, jellies, biscuits. It is crucial to have effective guidelines & standards across the cassia gum supply chain, both, for suppliers, as well as international buyers.
Some of the key players of the cassia gum market include:
Amba Gums & Feed Products
Premchem Gums Pvt. Ltd
B. Gum Industries Private Limited
Fooding Group Limited
J D Gums and Chemicals
Our report on the cassia gum market covers the following:
MRO market trends & dynamics
Latest News & cassia gum market developments
Porter’s five forces analysis