Locust Bean Gum Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021
- Transparency Market Research
Locust bean gum is cost effective food additive that is used across different application of food in order to meet consumers demand. It is used as a gelling agent, thickener, stabilizers and fat replicators in food technology. Moreover it can be used as a chocolate substitute owing to its sweet flavor. The global locust bean gum market can be segmented on the basis of application, function and geography. The application segment is further bifurcated into food and beverages, pharmaceutical, textile, cosmetics and others. The function segment includes stabilizing function, texturing function, and coating function among others. In addition, the report provides a cross-sectional analysis of all the above segments with respect to different geographical regions including North America, Europe, Asia Pacific and Rest of the World (RoW).
Locust bean gum is replacing the application of guar gum in food and beverage industries due to its low price. This is expected to be the key factor boosting the growth of locust bean gum market globally. Moreover, increasing demand for convenience food also fuelling the demand for locust bean gum. Busy lifestyle and changing eating patterns are driving the growth of convenience food products which in turn is escalating the demand of locust bean gum on account of its increasing application as a thickener and gelling agent. In addition, the global locust bean gum market is expected to show a robust growth owing to the increasing demand for low cholesterol food products by health conscious customers. Locust bean gum has the ability to suppress the fat content of food products by dispersing in the water and acts as a fat replacer.
However the low price of the locust bean gum fetches very less profit to
the locust bean growers worldwide. This is predicted to hamper the future
supply of locust bean. Imbalance between demand and supply due to shortage
of resources is expected to hinder the growth of global locust bean gum
market. Moreover, Carob tree which is the main source of locust bean are
mainly grown in Mediterranean region. During winter, frost in this region
mostly damages the fruits of Carob trees which results in fewer yields of
locust beans. Owing to this, the prices of locust bean gum considerable
fluctuate, thus limiting industries to switch to locust bean gum.
In 2014, among the different application segment the food and beverage segment held the largest share in terms of locust bean gum market. Increasing application of locust bean gum in food and beverage industry as a fat replicators and stabilizer is expected to trigger the growth of locust bean gum in food and beverage segment.
Food and beverage industry is followed by textile industry. Use of
locust bean gum is rapidly increasing in textile industry as print paste
thickener and sizing agent.
Geographically, Europe held the largest market for locust bean gum in 2014. Among Europe, UK followed by Germany is the largest importer of locust bean gum owing to the high demand of from different application segment. Europe is followed by Asia Pacific region. The locust bean gum market is Asia Pacific region is primarily driven by China followed by India. Huge customer base in Asia Pacific region owing to increasing population coupled with rising disposable income provides better scope for food and beverage industries. This in turn is driving the global locust bean gum market. On the other hand North America is losing its market share due to high price of locust bean gum.
Some of the major key players in the global locust been gum market are Cargill, Kerry group, FMC Specialty Chemicals, Gum Technology Corporation and E.I. Dupont De Nemours & Company.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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