Asia Pacific Carob Bean Gum Market

Asia Pacific Carob Bean Gum Market Size and Growth Analysis:

Asia Pacific Carob Bean Gum Market was worth USD XX million in 2022 and is estimated to be growing at a CAGR of XX%, to reach USD XX million by 2027. Carob Bean Gum is a food additive that is used as a thickening and gelling agent.

Asia Pacific Carob Bean Gum Market Overview:

Carob bean gum, which is commonly referred as Locust Bean Gum (LBG) is a vegetable gum that is extracted from seeds of carob tree. After drying the seeds of carob tree, they are heated to release their natural oils and are ground up into a precipitate known as carob gum. Its powdered form is sweet with a flavor similar to chocolate, and used as a substitute to chocolate and also used in cosmetics, cigarettes, and others.The Growth of the market is driven by factors like the taste-enhancing and thickening properties of Carob Bean Gum, shifting manufacturer and consumer focus towards natural and customized enhances and additives over artificial enhancers. However, factors like the seasonal availability of carob beans and supply-demand disparities due to shortage of resources may hamper the growth of market.

Asia Pacific Carob Bean Gum Market Segmentation:

• Form

• Application

Based on Form

• Powdered
• Gel

Based on Application

• Food

• Non Food Applications.

Food application is further segmented as Breakfast cereals, Salad Dressings, Meat Products, Breads, Dairy Products and Others. Non Food Applications is further segmented as Cosmetics, Paper products, Shoe polish, Textiles and Others.

Asia Pacific Carob Bean Gum Market Regional Analysis:

• China

• India

• Japan

• South Korea

• Australia

China holds the major share in the market due to the presence of market leaders as well as extensive use of Carob Bean Gum in food products and food processing. India is the fastest-growing region due to the increasing adoption rate and increasing demand for natural additives and enhancers. Based on Form, Gel form is the most widely used due to its extensive use in food processing and textile industry. Based on Application, Food applications occupy the major share in the market due to its use as a thickening agent as well as a sweetener and a chocolate substitute. In the Nonfood applications, textile industry is leading the market while cosmetic segment is expected to grow the fastest.

Asia Pacific Carob Bean Gum Market key players:

1. Scalzo Food Industries

2. LBG Sicilia ingredients

3. G Araouzos and Son

4. Gum Technology Corporation

5. Ceamsa, TIC Gums Incorporation

6. CP Kelco

7. FMC Specialty Chemicals

8. Fiberstar Inc.

9. Kerry Group and Cargill