Carob Bean Gum Market Overview:
Carob Bean Gum Market was at USD x.xx billion in 2020 and is anticipated to rach an extent of USD x.xx billion, registering a considerable CAGR throughout the outlook period 2021-2026.
Carob gum is a food additive with natural properties and it is made from carob seeds. The carob tree has pods that include both seeds and pulp. The seeds of the carob tree dry when they are removed. The dehydrated seeds are heated to release their natural oils and become tastier before being crushed into a precipitate known as Carob bean gum (CBG). Carob bean gum occurs as a white to yellow-white precipitate. It is specifically the endosperm of the seed that grows crushed to create Carob bean gum powder. The carob bean gum market recognizes CBG as a thickening and stabilizing ground cocoa powder, but it is lower in fat and calories than cocoa. CBG acts as a water carrier in frozen dairy products, dairy products, and sugary foods. Carob bean gum improves the water retention capacity and stabilizes the freezing and melting properties of food products. It has been found to have applications in the textile industry as a sizing agent that improves bonding characteristics between resin systems. Carob bean gum is gluten-free and is sometimes used in foods to impart a chocolate flavor. Although Carob bean gum does not contain a ton of nutrients, it does contain a substantial amount of dietary fiber that is beneficial to health.
Recent Developments
DuPont has announced that it will increase the price of carob gum following a poor carob harvest in the Mediterranean basin this year and extremely low stocks.
Market Drivers and Restraints:
Carob Bean Gum surpasses in the food industry due to its natural properties as a food additive. Commercial grade foods where flavors and flavor enhancers play a potential role is promoting the growth in the global carob bean gum market. In addition, these additives improve the structures and aromas to improve the nutritional value of the consumables. Additionally, food manufacturers have gradually started to prefer natural and custom enhancers and additives to artificial enhancers, promoting healthy additives on the market and providing opportunities to market participants for Carob bean gum. It has been able to enter the market for carob gum, where it is used as a healthier substitute for cocoa powder in baked goods or desserts. The main growth factor of CBG in recent years is attributed to the substitution of guar gum application in food and beverages. However, the carob tree that is the basis of CBG is grown natively in the Mediterranean region. The region during winters damages the carob fruits, which translates into a lower carob yield. The creation of an imbalance between supply and demand due to limited resources may hamper the growth of the global carob bean gum market.
Market Segmentation:
The world market for Carob bean gum is segmented by form and application. According to the form, it is divided into powder and gel. Depending on the application, it is divided into food and non-food applications. Food applications are further segmented into breakfast cereals, salad dressings, meat products, breads, dairy products and others. Depending on the form, the gel form is the most widely used due to its wide use in food processing and the textile industry. Depending on the application, food applications occupy the majority of the market due to its use as a thickener and as a sweetener and substitute for chocolate. In non-food applications, the textile industry dominates the market, while the cosmetics segment is expected to experience the fastest growth.
Regional Analysis:
On the basis of geographic analysis, the market is divided into the regions of North America, Latin America, Europe, Middle East and Africa and Asia-Pacific. Europe has the largest market share due to the presence of market leaders and the intensive use of Carob bean gum in food products and food processing. Asia-Pacific is the fastest growing region due to increasing adoption rate and increasing demand for natural additives and activators.
Impact of covid-19 on Carob Bean Gum Market
COVID-19 likely to influence the food and beverage industry and all its associated industries. Meeting short-term demands shouldn't be a major challenge for most companies in the food industry, but industry experts and analysts have expressed a lack of clarity about the extent and extent of germs impact. Due to this uncertainty, the F&B sector experienced product supply delays. Many companies have launched contingency plans to build deep supply chain facilities around the world. Food manufacturers in different countries started working with local suppliers to overcome ingredient shortages. The F&B culture has emerged over the last few years but will see some challenges with the coronavirus outbreak.
Regional Analysis:
The global market for Carob Bean Gum has been categorized by geography into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa. The Mediterranean region is the main producer of Carob bean gum, which includes countries such as Italy, Portugal, Spain and Morocco. These countries produce almost 70 to 75% of the world's Carob bean gum. European countries are the main producers and consumers of Carob bean gum, followed by North America. The consumption of carob gum in the United States is high and is due to the food industry followed by the cosmetic industry. The United States, Italy, Spain, Germany, the United Kingdom and France are the main manufacturers of Carob bean gum products. Carob bean gum consumption is growing faster in Asian countries and is driving sales among end-use industries. Today, the food and beverage and cosmetic industries use Carob bean gum in large quantities in Asia, followed by the textile and paper and pulp industries. New investments in end-user related manufacturing projects in Asian countries are expected to drive the global Carob bean gum market during the forecast period. Carob bean gum exports to Southeast Asian countries are gaining momentum and the manufacture of Carob bean gum products is expected to face competitiveness. This will drive the global market throughout the forecast period.
Leading Company
Scalzo Food Industries had the largest share of the Carob Bean Gum Market in terms of sales revenue in 2019.
Key Players
Key players in the Carob Bean Gum Market include Kerry Group, Fiberstar Inc., FMC Specialty Chemicals, CP Kelco, TIC Gums Incorporation, Gum Technology Corporation, G Araouzos and Son, Cargill, LBG Sicilia ingredients, and Scalzo Food Industries.
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Carob Bean Gum Market, By Type
6.1.1 Powder
6.1.2 Solid
6.1.3 Market Size Estimations & Forecasts (2019-2024)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Carob Bean Gum Market, By End-Use
6.2.1 Mining Industry
6.2.2 Leather Industry
6.2.3 Cosmetic Industry
6.2.4 Food and Beverages Industry
6.2.5 Textile Industry
6.2.6 Market Size Estimations & Forecasts (2019-2024)
6.2.7 Y-o-Y Growth Rate Analysis
6.2.8 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Type
7.2.3 By End-Use
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Type
7.3.3 By End-Use
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Type
7.4.3 By End-Use
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Type
7.5.3 By End-Use
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Type
7.6.3 By End-Use
8. Key Player Analysis
8.1 Scalzo Food Industries
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Kerry Group
8.3 Fiberstar Inc
8.4 FMC Specialty Chemicals
8.5 CP Kelco
8.6 TIC Gums Incorporation
8.7 Gum Technology Corporation
8.8 G Araouzos and Son
8.9 Cargill Inc
8.10 LBG Sicilia Ingredients
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
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