SELBYVILLE, Del., July 1, 2021 /PRNewswire/ — The gum fiber market value is projected to cross USD 1.97 billion by 2027, according to a new research report by Global Market Insights Inc. Growing demand for fiber-rich products and functional properties associated with gum fiber is projected to fuel the market demand across the globe.
The gum fiber industry from food applications is anticipated to surpass USD 500 million by 2027. As it is predominantly used in food manufacturing as stabilizers, thickeners and emulsifiers, gum fibers find application in food products including frozen foods, beverages, and dairy. Guar gums are predominantly used in this industry. Moreover, gum fibers are majorly used in confectionery product manufacturing. Gum Arabica is commonly used for this type of product manufacturing. This product is used to improve texture, provide long-lasting flavor release and improve processability & yield in extruded confectionery application, which should promote product demand.
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Some major findings of the gum fiber market report include:
- Gum fibers are used for explosives manufacturing as a water binding agent for aqueous slurry explosives. Thus, these factors should accelerate gum fibers industry demand from other applications and is set to register over 8% CAGR through 2027.
- Gum fiber demand from the frozen foods segment is projected to witness over 9.5% CAGR owing to the increasing demand for convenient foods.
- Some of the key players operating in the market are Lucid Group, ABDULLABHAI ABDUL KADER (VATVA GIDC), BASF SE, Ashland, Dupont, Cargill, Vikas WSP, Nexira, Neelkanth Polymers and Solvay.
- The Europe gum fiber market has the dominant market share, and the industry is further estimated to grow owing to increasing its usage in cosmetic application.
- The gum fiber industry from cosmetic application is set to exceed USD 65 million by 2027, propelled by increasing individual spending on personal care products.
Browse key industry insights spread across 255 pages with 186 market data tables and 40 figures & charts from the report, «Gum Fiber Market Statistics By Product (Gum Arabic, Guar Gum, Locust Bean Gum), Application (Food [Frozen Foods, Confectionary, Beverages, Dairy], Oil & Gas, Mining & Construction, Textile, Pharmaceutical, Personal Care & Cosmetics), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027» in detail along with the table of contents:
The Europe gum fiber market is expected to witness a considerable CAGR of 10% in the coming years, driven by rising awareness of beauty product uses among the population. Gum fibers’ thickening properties are used in the cosmetic sector for manufacturing creams, lotions, shaving creams, and toothpaste. Rising grooming trends among people and inclination towards using skin care products to improve appearance will have a positive impact on regional industry expansion.
The consumers’ awareness of what they eat in their diet are currently moving toward deep-seated transparency. In addition, consumers have access to smart labels and other required options for product labeling. The rise in the demand for transparency and rise in lifestyle diseases have increased the demand for labels on products. Thus, the manufacturers are specifically concentrating on label claims and gum fiber poses as very striking for these claims.
Browse the Toc of this report @ https://www.gminsights.com/toc/detail/gum-fiber-market
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Gum Fiber Industry Forecasts 2021-2027
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