According to “The Insight Partners” latest study on “The global Gum Arabic Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Type (Senegalia Senegal Gum and Vachellia Seyal Gum), Function (Thickener, Stabilizer, Gelling Agent, and Others), and Application (Bakery and Confectionery, Beverages, Dairy and Frozen Products, and Others),” the market was valued at US$ 759.74 million in 2019 and is projected to reach US$ 1,206.35 million by 2027; it is expected to grow at a CAGR of 6.1% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
The diverse applications of gum Arabic boost the growth of the global gum arabic market. Gum Arabic is used in food and beverages, pharmaceuticals, and personal care industries. Gum Arabic is used 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. Also, it is the most popular natural emulsifier known globally. The market of gum arabic would grow in the coming year owing to the rising demand for natural products in the food and beverage industries across the world.
Also, it is used to bind the sweeteners and flavorings in soft drinks. Gum Arabic is added to milk and milk products to produce the desired beverage or dish.. Ink made with gum arabic provides the excellent adhesion power that aids the permanence of the print. Therefore, it is used in traditional lithography and printing. It is mostly used to print newspapers. Thus, the diversity in the application of gum Arabic is driving the growth of the market globally.
Gum Arabic is extensively used in several applications in the food & beverages industry as it acts as a binding agent to bind together the food ingredients by retaining their physical characteristics. It is mainly used to prepare toffees, pastilles, gums, and flavored beverages. The Gum Arabic market is witnessing significant growth owing to an increasing consciousness toward the multi-functionality of gum Arabic. Moreover, the rising applications of Gum Arabic across the pharmaceutical sector offer lucrative opportunities for the key players operating in the Gum Arabic market.
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AEP Colloids; Agrigum International Limited; Alland & Robert; Farbest Brands; Hawkins Watts Limited; ISC Gums; Kerry Group; Nexira; Somar Corp; and TIC Gums, Inc. are among the well-established players in the global gum arabic market.
Impact of COVID-19 Pandemic on Gum Arabic Market
The COVID-19 outbreak was first reported in Wuhan, China, during December 2019. As of December 2020, the US, Brazil, India, Russia, Spain, and the UK are among the worst affected countries in terms of COVID-19 confirmed cases and reported deaths. The outbreak is affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Food & beverage is one of the world’s major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns.
For instance, China is the global manufacturing hub and largest raw material supplier for various industries and it is also one of the worst affected countries. The lockdown of various plants and factories in China is restricting the global supply chains and hindering manufacturing activities, delivery schedules, and various materials sales. Numerous companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are hampering the business collaborations and partnerships opportunities. All these factors are restraining the growth of various markets related to the food and beverage industry.
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