Introduction
Cassia gum is used as a binder, thickener and emulsifier in a variety of industries. These include the food, pharmaceuticals, cosmetic and paint industries. Manufacturers use cassia gum to improve product quality and consistency. In this report, we analyze the cassia gum market key trends, key findings, prior studies, applications, outlook and industry report to 2032. We also provide you with the key players in the market and their latest developments.
Product overview
The global cassia gum market is projected to grow at a CAGR of 7.4% during the forecast period 2019-2025. The primary drivers for this growth are increasing demand for enhanced chewing gum properties, increase in consumption of cassia gum across various applications, and increasing adoption of cassia gum in the pharmaceutical and food industries.
This report provides an overview of the global cassia gum market including its definition, key trends, major players, product specifications, and application areas. The report also includes a detailed analysis of the major markets comprising cassia gumDemand (by region), supply (by region), and industryal analysis with respect to key factors such as growth rates, product types, end user industries etc.
Key findings from this report include:
-Global cassia gum market has been growing in popularity owing to its enhanced chewing properties.
-Asia Pacific is expected to be the largest regional market for cassia gum owing to high population density and robust economic growth prospects in several countries in this region.
– North America is expected to be the second largest regional market for Cassia Gum owing to increasing demand from the food and beverage industry.
– Europe is expected to be the third largest regional market for Cassia Gum due to high population density and robust economic growth prospects in several countries in this region.
– Latin America is expected to be the fastest growing regional market for Cassia Gum owing to high population density and increasing demand from the food and beverage
Market dynamics
The global cassia gum market is expected to grow at a CAGR of 6.8% during the forecast period 2016-2021. The market is mainly driven by the increasing demand for consumer goods and pharmaceuticals owing to their antibacterial, antifungal, and antioxidant properties. Moreover, the high performance of these products in various end-user industries is also contributing to the growth of the cassia gum market.
The cassia gum market has been segmented into six major regions: North America, Europe, Asia Pacific (APAC), Latin America, and Middle East & Africa. North America dominated the market in terms of revenue share in 2015 followed by Europe. Asia Pacific isexpected to grow at a fastest rate during the forecast period 2016-2021 owing to its large population base and increase in healthcare spending.
Amongst the various types of cassia gums, woodgum accounted for the largest share of the overall market in 2015. This is attributable to its favorable geographical distribution across different regions and its higher price compared with other types of cassia gums. However, tapiocabased gums are expected to witness a significant growth during the forecast period 2016-2021 as they are gaining popularity owing to their low cost and extended shelf life.
Based on application, drug formulation was observed to be one of the most prominentend usersof cassia gumsand this is expected to continue over the next few years as more antibacterialdrug
Competitive landscape
The cassia gum market is growing at a fast rate, as the demand for natural ingredients increases. The industry is expected to grow from USD 2.5 billion in 2016 to USD 5.0 billion by 2021. This growth is attributed to the increasing awareness about the benefits of using natural ingredients in products and the trend of reducing environmental impact.
There are several factors that are propelling the growth of the cassia gum market. These include increasing demand for sustainable and environmentally friendly products, rising awareness about the health benefits associated with using natural ingredients, and increasing preference for healthy eating habits among consumers.
However, some restraints hamper the growth of this market. These include limited availability of high-quality cassia gum due to its rarity and high price, which is also a deterrent to product adoption by manufacturers. Furthermore, certain regulatory barriers need to be cleared before this market can take off in Asia Pacific region owing to stringent food safety regulations in this region.
Regional analysis
The cassia gum market is expected to grow at a CAGR of 5.5% during the forecast period (2018-2025). The growth is attributed to factors such as rising consumption of food products, increasing demand from the pharmaceutical and biotechnology industry, and growing adoption in the automotive sector.
This report covers:
Regional analysis: North America, Europe, Asia Pacific, Latin America
Key trends: Emerging markets, technological advancements
Key findings: Market size, market share by region, market growth drivers
Prior studies: In-depth analysis of key players and their market shares in the cassia gum market
Applications: Dietary supplements, animal feed additives, personal care products
Market segmentation
The cassia gum market is segmented on the basis of end user, application, and region. End users include food & beverage, healthcare and personal care products industry. Application segments include chewing gum, dental floss, and other oral hygiene products. Regional segments include North America (NA), Europe (EU), Asia Pacific (APAC), and Rest of the World (RoW).
The global cassia gum market was valued at $2.48 billion in 2016 and is projected to grow at a CAGR of 7.5% during 2017-2022. This growth can be attributed to increasing consumer awareness about the benefits of using cassia gum such as preventing tooth decay and freshening breath. The key factors driving this growth are increasing population rates, rising incidence of tooth decay, rise in demand for oral hygiene products among women, growing preference for natural ingredients in various applications across end users, and expansion of the global chewing gum market into new geographies.
The major players in the cassia gum market are Mondelēz International LLC., Mars Incorporated., Kraft Foods Group LLC., The Hershey Company, Frito-Lay Company, Unilever PLC., General Mills Inc., Colgate-Palmolive Co., Ltd., Novartis AG., Henkel AG., Beecham Plc., Abbott Laboratories LLC., Asahi Kasei Corporation Limited.), San Miguel Corporation (), Nippon Suisan Kaisha (), Tic Tac Holdings NV
Market trends
The global cassia gum market is expected to grow at a CAGR of over 7% during the forecast period 2017-2021. The market is driven by the increasing demand for health supplements and food & beverage products owing to their antibacterial, antifungal, and anti-inflammatory properties. The increasing awareness about the importance of maintaining good health is also contributing to the growth of the cassia gum market.
Some of the key trends that are driving the growth of the cassia gum market include:
1) Rising demand for health supplements and food & beverage products owing to their antibacterial, antifungal, and anti-inflammatory properties
2) Increasing awareness about the importance of maintaining good health
Porter’s five forces analysis
The global cassia gum market is valued at xx million US$ in 2018 and is expected to grow at a CAGR of xx% between 2019 and 2024. This report covers the present scenario and growth prospects of the cassia gum market for the next four years.
The key factors that are driving the growth of the cassia gum market are increasing demand from various industrial sectors such as automotive, construction, oil & gas, paper & pulp, food & beverage, and others. These factors are also contributing to the increased adoption of cassia gum in various products.
Some of the major players in the global cassia gum market are ExxonMobil Corporation (US), The Jardiance Group (US), ICI PLC (UK), Akzo Nobel N.V. (NL), and more. These companies are focusing on enhancing their product offerings and expanding their business operations across various regions in order to gain a rightful share of this lucrative market.
SWOT analysis
The global cassia gum market is projected to grow at a CAGR of 7.2% from 2018 to 2023. The reasons for this growth are the increasing demand for natural gum products owing to the rising awareness about health benefits, as well as the increasing preference for eco-friendly products.
Some of the key trends that will drive the cassia gum market are the increasing popularity of functional foods and beverages, expansion of the pharmaceutical and nutraceutical industries, and increased focus on sustainable products.
In terms of applications, the cassia gum market is divided into personal care and feed additives. The personal care segment is estimated to account for more than half of the total market volume by 2023. This is because cassia gum is used in skin care products such as lip balm and moisturizers, hair care products such as shampoos and conditioners, and oral hygiene products such as toothpaste and dental floss. The feed additives segment is projected to dominate the cassia gum market due to its use in poultry feeds, livestock feeds, fish feeds, and agricultural crops.
The global cassia gum market has been classified into five geographic regions—North America, Europe, Asia Pacific (APAC), Latin America, and Middle East & Africa (MEA). North America dominates the overall market with a share of over 45%. This dominance is attributed to factors such as high consumer spending on food items containing natural ingredients, large number of functional foods manufacturers in North
Conclusion
The global cassia gum market is estimated to grow at a CAGR of 7.5% during the forecast period 2019-2032. The growth is mainly driven by the increasing demand for strengthened products and products that are used in adhesives and coatings. In this report, you will find key trends, key findings, prior studies, applications, outlook, and industry report to 2032 on the cassia gum market.
