Global Natural Gum Market - Industry Analysis and Forecast| Technavio
Technavio has published a new market research report on the global natural gum market from 2018-2022. (Graphic: Business Wire)
According to Technavio analysts, the global natural gum market will grow at a CAGR of around 8% during the forecast period. One of the major factors driving the growth of the market is that natural gums are more cost-effective than synthetic alternatives.
Many natural gums are more cost-effective than their synthetic counterparts. For instance, Hydroxypropyl methylcellulose is a synthetic substitute for natural gums and is used as an emulsifier and a thickening agent and is priced high. On the contrary, a natural gum such as guar gum provides several health-promoting benefits and is available at a lesser cost. This indicates that natural gums are a more cost-effective option as they offer the same thickening, stabilizing, suspending, and binding properties as their chemical substitutes.
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In this report, Technavio highlights the increasing demand from non-core markets as one of the key emerging trends driving the global natural gum market:
Increasing demand from non-core markets
Over the years, natural gum has found application in products that are manufactured by various industries. Some of the unconventional industries where natural gums find widespread application include pharmaceutical and other industries. Gums have prominent application in pharmaceutical formulations. They are used in different medicines for their demulcent properties, which help in cough suppression. These gums are also used as a bulk laxative. The gums are hydrophilic polymers, which are helpful in binding tablets, periodontal films, buccal tablets, and other pharmaceutical products.
“Gums such as acacia, tragacanth gum, and karayagum gum are used in cosmetics. Tamarind gum is used in textiles, acacia gum, and tragacanth gum are used in adhesives, and for lithography. Several other gums are used in manufacturing paints, paper, and others. This indicates the diverse market that the gum manufacturers serve. Natural gums such as carrageenans are also used as an ingredient in air freshener, oral care, pharmaceutical formulations, biotechnology research, and other industrial consumer product applications,” says a senior analyst at Technavio for research on food.
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Global natural gum market segmentation
This market research report segments the global natural gum market into the following applications (food and beverages, personal care, and pharmaceuticals) and key regions (the Americas, APAC, and EMEA).
The food and beverages segment held the largest market share in 2017, accounting for nearly 52% of the market. However, this application segment is anticipated to witness steady growth during the forecast period.
The Americas was the leading region for the global natural gum market in 2017, accounting for a market share of more than 38%. The market share for this region is expected to decrease slightly during the forecast period. However, this region will dominate the market through the forecast period.
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