Food
segment to play a crucial role in changing the climate of the global
gellan gum market
Sales
of gellan gum is projected to cross US$ 60 Mn by 2026. Sales revenue
is likely to record a CAGR of 4.3% over the forecast period. Among
the various applications, the food segment dominated the global
gellan gum market with more than 50% market share in 2016.
Owing to increasing use of gellan gum in food and beverages products
globally, the market for food and beverages products is witnessing
significant growth. Presently, gellan gum is widely used as an
alternative for various hydrocolloids such as carrageenan gum in
various dairy products, protein enriched drinks and other beverages.
Gellan gum enables uniform dispersion and suspension of insoluble
particulates in protein-fortified beverages and nut milks.
Manufacturers of gellan gum are expanding their production capacity
to meet the increasing market demand. Various international events
are organised to promote the usage of gellan gum and to increase its
customer base around the globe.
In
2015, the food segment was valued at more than US$ 23 Mn and is
likely to project good growth throughout the forecast period. This
segment is anticipated to cross US$ 40 Mn by the end of 2026 and
record a CAGR of 4.7% over the assessment period. Personal care and
cosmetics segment is expected to increase 1.3X in terms of value over
the forecast period, registering a CAGR of 3.2% and this segment is
likely to be valued at around US$ 6 Mn by the end of the assessment
period. Industrial and household segment will perform well in 2017 by
creating a standard absolute dollar opportunity of more than US$ 0.1
Mn. In 2015 the pharmaceuticals segment was valued at more than US$ 3
Mn and this segment is likely to rise above US$ 7 Mn by expanding at
a CAGR of 3.9% till the end of 2026.
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Region
wise performance analysis of the application category
In
terms of value, the food segment is expected to hold a significant
market share of the North America market during the forecast period.
In North America, the food segment is anticipated to increase 1.4X in
terms of volume. In Latin America, the food segment is anticipated to
register significant revenue share during the forecast period.
Amongst the various sub-segments of the food application segment, the
food and beverages sub-segment is anticipated to record a high CAGR
during the forecast period in the Latin America region. The food
segment will dominate a considerable share of the Western Europe
market throughout the assessed period. Amongst the sub-segments, the
dairy products sub-segment will showcase better results and will
record a good CAGR by the end of the assessment period. In Western
Europe, the volume of the food segment will spike 1.4X during the
forecast period. In Eastern Europe, the dairy products sub-segment is
anticipated to register a high CAGR during the forecast period. The
food segment will expand 1.2X till the end of 2026 in Eastern Europe.
In
terms of value, China will spearhead the APEJ gellan gum market till
the end of the forecast period. APEJ is anticipated to be the fastest
growing market for gellan gum in terms of volume, registering a CAGR
of 4.6% over the forecast period. In the APEJ region, the food
segment will expand at a CAGR of 5.7% till the end of the projected
period. Amongst the food sub-segments, the beverages sub-segment will
record a CAGR of 6.4% by the end of 2026. In Japan, the food
application segment is anticipated to register a significant market
share during the forecast period.
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