Gellan Gum Market Research, 2030
The global gellan gum market Size was valued at $238,457.00 thousand in 2020, and is projected to reach $420,950.00 thousand by 2030, growing at a CAGR of 6% from 2021 to 2030. Gellan gum is a vegan thickening agent added to foods to create and maintain a desired consistency and it is added to a variety of foods as an emulsifier and stabilizer.
Food industries are promoting their food product by labeling vegan, owing to growing veganism and rise in trend of flexitarian diet. Growth in the food industry and dynamic changes in consumption pattern is generating the demand for plant-based food products, which, in turn, spur growth of the Gellan Gum Market Forecast Period. Growth in urbanization and awareness regarding harmful effects of chemical added artificial ingredients based food products creates massive demand for Plant-based ready-to-eat and functional drink products, packaged food products, and frozen food products, as it indirectly adds to the growth of the global gellan gum market.
Gellan gum is said to be an efficient food stabilizer, however, the knowledge regarding production, consumption, and benefits of gellan gum still remains in nascent stages in the developing countries. In addition, lack of awareness regarding health benefits of the gellan gum consumption and considerably low supply of similar ingredients and high cost of these products majorly impacts growth of the global gellan gum market during the forecast period.
In addition, growth of online retail platform is likely to boost the Gellan Gum Market demand and supply during the forthcoming time period. Currently, many retailers are collaborating or operating their own web-based retail stores where customers can learn more about the organization and its products. The availability of diverse product options and price comparison on online shopping sites has resulted in an increase in the number of online shoppers. Furthermore, it also leads to ease in accessibility and availability of the products required which is as a result will boost the Gellan Gum Market Growth in the future.
The gellan gum market is segmented on the basis of type, application, and region. On the basis of type, the market is divided into high-acyl content and low-acyl content. On the basis of application, it is classified into foods & beverages, pharmaceuticals, cosmetics & personal care, and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, ASEAN, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, the UAE, Saudi Arabia, South Africa, and rest of LAMEA).
On the basis of type the high acyl content has the major Gellan Gum Market Share. This is attributed to the rising demand for plant protein based beverages and high acyl gallen gum is utilized in the production of these beverages in order to contrive its taste.
On the basis of application food & beverage segment dominated the global gellan gum industry. This is attributed to the consumer’s shift towards vegan diet, which is leading them to avoid any animal based product and adopt plant based diet in the regular consumption.
On the basis of region Asia-Pacific is the dominating region owing to its high population ratio and growing food & beverage industry.
The players operating in the global gellan gum market have adopted various developmental strategies to increase their market share, gain profitability, and remain competitive in the market. The key players operating in the market include- Dancheng Caixin Sugar Industry Co. Ltd., DuPont de Nemours, Inc., H & A Canada Inc., Hebei Xinhe Biochemical Co. Ltd, J.M. Huber Corporation, Koninklijke DSM N.V., Nanjing Joyfulchem Co. Ltd., OPAL Biotech, Shanghai Bichain Industrial Chemical Co., Ltd. And Zhengzhou Cinogel Biotech Co. Ltd.
COVID-19 impact analysis
- The COVID-19 pandemic has a positive impact on the global market.
- The demand for gellan gum increased in the residential segment during the pandemic as people were preferring to have products which are healthy and has plant based ingredients.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the gellan gum market analysis from 2020 to 2030 to identify the prevailing Gellan Gum Market Opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the gellan gum market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global gellan gum market trends, key players, market segments, application areas, and market growth strategies.
Gellan Gum Market Report Highlights
Key Market Players
Sinofi Food Ingredients, Zhengzhou Cinogel Biotech Co. Ltd., Hebei Xinhe Biochemical Co. Ltd, Dancheng Caixin Sugar Industry Co. Ltd., Nanjing Joyfulchem Co. Ltd., CP Kelco, DSM Corporation, OPAL Biotech, H & A Canada Inc., DuPont
According to CXOs of leading companies, the gellan gum market is expected to grow at a high rate during the forecast period, owing to various factors such as change in lifestyle patterns of consumers, increase in demand for convenience foods, and consumer preferences for healthier food products. In addition, rise in number of vegan population and awareness regarding benefits of plant-based food products and organic products are expected to support growth of the global market during the forecast period. In addition, according to the Research Institute of Organic Agriculture (FIBL), the global revenue generated from organic market in 2019 was $123 million with 3.1 million producers of organic agriculture worldwide. Furthermore, Australia has the largest organic agricultural land of 35.7 billion hectares and Europe has 16.5 million hectares, which is equivalent to more than 60% of the global organic area followed by Latin America and Asia with 11% and 5.9%, respectively. FIBL has further estimated that globally 1.5% of the farmland is organic and owing to the rise in demand for organic products this share is also rising. Therefore, the global demand for organic products is rising in the market, which is expected to boost the demand for organic gellan gum in the market.
CXOs further added that Asia-Pacific is projected to register highest growth rate as compared to saturated markets of Europe and North America, owing to increase in penetration of a wide range of vegan bakery and confectionary and beverage products in tier 2 & 3 cities of China and India.