According to the report by Expert Market Research (EMR), the global carob bean gum market size is being aided by the growth of the food additives market. Aided by the rising application of the product in the end-use industries, the food additives market is projected to further grow at a CAGR of 5.8% between 2024 and 2032.
Carob bean gum, also known as locust bean gum, is a natural thickening agent derived from the seeds of the carob tree. It is widely used in the food industry due to its ability to improve the texture and viscosity of various products, including ice cream, yoghurt, sauces, and baked goods. Beyond its role in food, carob bean gum also finds applications in industries such as pharmaceuticals, cosmetics, and pet food manufacturing due to its stabilising, thickening, and gelling properties.
The global health and wellness trend is leading consumers towards cleaner and more transparent labels, which, in turn, is fuelling the carob bean gum market demand. This ingredient is known for its excellent gelling properties and its ability to create a desirable texture in various food products without the use of synthetic agents. As the clean-label trend continues to grow, the demand for carob bean gum as a natural alternative to synthetic thickeners and stabilisers is likely to surge.
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In addition to its widespread use in the food and beverage industry, carob bean gum is increasingly finding applications in other sectors as well. In the pharmaceutical industry, for example, it is used as a binder and stabiliser in the formulation of tablets and capsules. Its ability to control the viscosity of formulations makes it a valuable addition to certain topical and oral medications.
As per the carob bean gum market analysis, the cosmetics industry also utilises carob bean gum for its moisture-retaining and stabilising properties, which are essential in the formulation of various skincare and haircare products. Furthermore, carob bean gum’s non-toxic and natural properties make it an essential component in the manufacturing of pet food, where it is used to improve the texture and palatability of the product.
Additionally, the global market is likely to witness opportunities stemming from the growing demand for plant-based and vegan products. As consumers increasingly seek out plant-based alternatives to traditional dairy and meat products, the demand for natural stabilisers and thickeners, including carob bean gum, is set to increase.
Europe is currently holding a large carob bean gum market share owing to the significant demand from the food and beverage industry, particularly in countries like Spain, Italy, and Greece, where carob trees are grown extensively. North America is also a significant market for carob bean gum, with steady demand driven by the health-conscious consumers and the burgeoning natural and organic food sector.
Asia-Pacific, led by emerging economies such as China and India, is anticipated to be the fastest-growing region in the carob bean gum market during the forecast period. The rising middle-class population, coupled with increasing awareness about clean-label products and natural ingredients, is expected to boost the carob bean gum market growth in this region.
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Carob Bean Gum Market Segmentation
The market can be divided based on form, application, and region.
Market Breakup by Form
- Powder
- Gel
Market Breakup by Application
- Food Products
- Breakfast Cereals
- Salad Dressing
- Meat Products
- Breads
- Dairy Products
- Others
- Non-Food Products
- Cosmetics
- Paper Products
- Shoe Polish
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global carob bean gum market. Some of the major players explored in the report by Expert Market Research are as follows:
- Cargill, Incorporated
- DuPont de Nemours, Inc.
- TIC Gums, Inc.
- Contined B.V.
- Carob S.A.
- Others
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