Locust Bean Gum and Carob Gum Market was valued at USD 1.5 Billion in 2022 and is projected to reach USD 2.5 Billion by 2030, growing at a CAGR of 7.0% from 2024 to 2030.
Between 2018 and 2022, Locust Bean Gum and Carob Gum's market expansion was heavily influenced by the rising demand for plant-based and natural food ingredients. The global food and beverage industry was one of the dominant consumers of these gums, with increasing adoption in dairy products, gluten-free products, sauces, and dressings. Moreover, industries like cosmetics and personal care adopted Carob Gum for its moisturizing properties, which contributed to its steady growth. On the other hand, Locust Bean Gum saw increased usage in the pharmaceutical industry for its applications as a stabilizing agent in tablet formulations.
Looking ahead to the years 2023 to 2033, market trends indicate a continuation of growth, with a shift towards greater sustainability and eco-friendly production methods. Advances in extraction technology are expected to reduce costs and improve the availability of both gums, which could further propel their demand. Additionally, the trend towards vegan, gluten-free, and plant-based products is likely to maintain pressure on the market for natural gums. In the coming decade, new applications, including the use of these gums in alternative proteins, nutraceuticals, and pet foods, may emerge, further expanding their reach across diverse sectors.
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The global market for Locust Bean Gum and Carob Gum witnessed significant shifts from 2018 to 2022, driven by factors like increasing demand from the food and beverage industry, rising health consciousness, and growing applications in pharmaceuticals, cosmetics, and other industries. Both Locust Bean Gum (LBG) and Carob Gum (CG) gained popularity due to their versatile properties as natural thickeners, stabilizers, and emulsifiers. As consumers increasingly sought cleaner labels and plant-based ingredients, the use of these gums became more prevalent in a variety of processed foods, dairy products, and confectioneries. The market during this period experienced steady growth, but with the evolving trends and the continuous exploration of new applications, the demand dynamics are anticipated to shift further between 2023 and 2033.
Cargill
Incorporated
CP Kelco
Ingredients Solutions
Inc.
Amstel Products BV
Altrafine Gums
AEP Colloids
Colony Gums
Inc.
Foodchem International Corporation
Nactis Flavours
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Locust Bean Gum and Carob Gum Market
Food & Beverages
Textiles
Energy & Mining
Pharmaceuticals
Cosmetics
Based on Types the Market is categorized into Below types that held the largest Locust Bean Gum and Carob Gum market share In 2023.
Food Grade
Technical/Industrial Grade
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Locust Bean Gum and Carob Gum Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Locust Bean Gum and Carob Gum Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Locust Bean Gum and Carob Gum Market, By Type
6. Global Locust Bean Gum and Carob Gum Market, By Application
7. Global Locust Bean Gum and Carob Gum Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Locust Bean Gum and Carob Gum Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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