The gum arabic 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. Gum Arabic, also known as acacia gum, gum sudani, Arabic gum, gum acacia, acacia, Indian gum, Senegal gum, and by other names, is a natural gum produced from the sap of the Acacia trees.
New York, Jan. 25, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Gum Arabic Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type, Function, and Application" - https://www.reportlinker.com/p06010061/?utm_source=GNW
Gum arabic is extensively used in several applications in the food & beverages industry.
It is used to prepare toffees, pastilles, gums, and flavored beverages. The gum arabic market is witnessing significant growth due to increasing consciousness toward gum arabic’s multi-functionality.
Based on type, the gum arabic market is bifurcated into Senegalia Senegal gum and Vachellia Seyal gum.In 2019, the Senegalia Senegal gum segment dominated the market.
Senegalia Senegal gum is a substance used in adhesives, pharmaceuticals, inks, confections, and other products.Acacia Senegal trees yield in all types of seasons, regardless of soil texture and climatic conditions.
They are drought-tolerant, which proffers them suitable to grow in the drier parts of the globe. All these factors are driving the growth of market for Senegalia Senegal gum segment.
By regions, the gum arabic market is segmented into North America, Europe, Asia Pacific (APAC), South America, and Middle East & Africa (MEA).Asia Pacific is estimated to register the fastest CAGR in the market during the forecast period.
The increasing awareness about gum arabic’s multi-functionality and its associated medicinal advantages are bolstering the market in Asia Pacific.The multiple uses of gum arabic to enhance the quality of food products have led to the large-scale adoption of gum arabic in numerous applications.
Moreover, the rising applications of gum arabic in the pharmaceutical and personal care sectors and surging use of gum arabic in printmaking, ceramics, and painting are driving the market growth in Asia Pacific.
The COVID-19 outbreak was first reported in Wuhan, China, in December 2019.As of December 2020, the US, Brazil, India, Russia, France, the UK, Italy, Spain, Argentina, Colombia, Germany, and Mexico are among the worst affected countries in terms of COVID-19 confirmed cases and reported deaths.
The COVID-19 pandemic is hindering economies and industries in various countries due to lockdowns and business shutdowns. The food & beverages is one of the significant industries facing severe disruptions such as office and factory shutdown and supply chain break, which is restraining the growth of the gum arabic market .
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 key players operating in the global gum arabic market.
The overall global gum arabic market size has been derived in accordance with to both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the global gum arabic market.
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