DUBLIN, July 28, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/bzl8kx/gum_arabic_market) has announced the addition of the "Gum Arabic Market by Type (Senegalia Senegal, Vachellia Seyal), Application (Confectionary Beverage Products, Bakery Products, Dairy Products), Function (Thickener, Gelling Agent, Stabilizer, Fat Replacer), & by Region - Global Forecast to 2019" report to their offering.
The market for gum arabic is estimated to reach $800.3 Million by 2019, at a CAGR of about 6.7% from 2014 to 2019
The gum arabic market is fueled by the growing awareness about the multi-functionality of gum arabic and the associated medicinal benefits. Globally, the multiple functions of gum arabic to enhance the quality of the food products have led the large-scale adoption of gum arabic in various applications. Gum arabic also exhibits some medicinal benefits, such as reduction in dental plaque and healing of wounds, which are encouraging the application of gum arabic in the pharmaceutical sector, thereby driving the growth of the global market for gum arabic.
The gum arabic market has been segmented on the basis of application into confectionery, beverage products, bakery products, dairy products, and sauces & dressings. The market has been further segmented on the basis of type into Senegalia Senegal gum and Vachellia Seyal gum. On the basis of function, the market has been segmented into thickener, fat replacer, stabilizer, gelling agent, coating agent, and texturant. The market has also been segmented on the basis of regions into North America, Europe, Asia-Pacific, Latin America, and Rest of the World (RoW). This report includes market sizes in terms of value ($million) and volume (MT).
The market for gum arabic is projected to grow significantly in the coming years owing to the increasing use of gum arabic in different applications and the rising opportunities in countries, such as India, China, Italy, and Brazil. In 2014, the North American region dominated the global market for gum arabic. The market in Latin America is projected to grow at the fastest CAGR during the forecast period.
The gum arabic market is fragmented and competitive, with a large number of players operating at regional and local levels. Over the past few years, the key players in the market have adopted new product launches and expansions as their preferred strategies to strengthen and sustain their positions in the global market.
The key players of the market include Gum Arabic Company (Sudan), Nexira (France), TIC Gums (U.S.), Kerry Group (Ireland), and Alland & Robert (France), among others.
Scope of the Report
The research study categorizes the market on the basis of type, application, function, and region.
Gum Arabic Market
On the basis of type, the market has been segmented as follows:
- Senegalia Senegal Gum - Vachellia Seyal Gum
On the basis of application, the market has been segmented as follows:
- Confectionery - Beverage Products - Bakery Products - Dairy Products - Sauces & Dressings - Others
On the basis of function, the market has been segmented as follows:
- Thickener - Fat Replacer - Stabilizer - Gelling Agent - Coating Agent - Texturant - Others
- Agrigum International Limited - Alland & Robert - Farbest Brands - Gum Arabic Company - Hawkins Watts - Ingredion Incorporated - Kerry Group - Nexira - Prodigy Nig Limited - Tic Gums Inc.
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SOURCE Research and Markets