Market Snapshot
| Study Period: | 2016 - 2026 |
| Base Year: | 2020 |
| Fastest Growing Market: | Europe |
| Largest Market: | Asia Pacific |
| CAGR: | 6.2 % |
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Market Overview
The global cassia gum market is growing at a CAGR of 6.2% during the forecast period (2019-2024).
- The market growth is attributed to the wide range of functions it offers including thickener, emulsifier, foam stabilizer, moisture retention agent and texturizing agent that can be used in food & beverage, pharmaceutical, and personal care products. In addition, favorable regulatory guidelines are fueling the market. For instance, FAO has approved the intended use of cassia gum is a thickener, emulsifier, foam stabilizer, moisture retention agent and/or texturizing agent in cheese, frozen dairy desserts and mixes, meat products and poultry products.
- However, the health hazards that arise from its consumption such as swelling of the intestine, slow absorption of sugar are restraining the market. Also, the availability of substitute products such as guar gum is a major challenge for the xanthan gum market.
Scope of the Report
Global cassia market has been segmented by application into food & beverage, pharmaceuticals, animal feed, personal care, and others. The food segment can be further bifurcated into bakery & confectionery, dairy, meat industry, and others. By geography, the market can be segmented into North America, Europe, Asia-Pacific, South America and the Middle East and Africa.
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Key Market Trends
Increased usage in bakery and confectionery products
In desserts, it is used for emulsification, foam stabilization, moisture retention, and texture improvement. Due to the increase in demand for new products in the bakery and confectionery sector that offer refreshing taste, constant strides in upgrading the processing and freezing technology and developed ingredients used such as cassia gum, bakery products import has witnessed a significant increase in this segment in the successive years. Also, the growing popularity of convenience foods due to fast-paced and hectic lifestyles, speed of preparation, easy product availability, low costs, and extended shelf life. According to the US Census Bureau, the value of U.S. product shipments of frozen cakes and other pastries witnessed a significant increase in recent years, thus showing an increase in demand for the frozen bakery.
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Asia-Pacific to the drive the market
Asia Pacific region accounts for the largest share in the market owing to its increased demand for bakery and confectionery products. Also, urbanization, a rising standard of living, expansion of retail stores, availability of disposable income and supportive economic factors are pairing to boost the market growth. In Asia-Pacific, China and India account for the largest share of the market as they are the major producer and suppliers of cassia gum.
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Competitive Landscape
The cassia gum market is highly competitive in nature having a large number of domestic and multinational players competing for market share and with innovation in products being a major strategic approach adopted by leading players. Additionally, merger, expansion, acquisition, and partnership with other companies are the common strategies to enhance the company presence and boost the market.
Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Application
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5.1.1 Food & Beverage
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5.1.1.1 Bakery & Confectionery
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5.1.1.2 Dairy
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5.1.1.3 Meat industry
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5.1.1.4 Others
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5.1.2 Pharmaceuticals
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5.1.3 Animal feed
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5.1.4 Personal Care
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5.1.5 Others
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5.2 Geography
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5.2.1 North America
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5.2.1.1 United States
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5.2.1.2 Canada
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5.2.1.3 Mexico
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5.2.1.4 Rest of North America
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5.2.2 Europe
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5.2.2.1 Spain
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5.2.2.2 United Kingdom
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5.2.2.3 Germany
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5.2.2.4 France
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5.2.2.5 Italy
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5.2.2.6 Russia
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5.2.2.7 Rest of Europe
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5.2.3 Asia Pacific
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5.2.3.1 China
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5.2.3.2 Japan
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5.2.3.3 India
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5.2.3.4 Australia
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5.2.3.5 Rest of Asia-Pacific
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5.2.4 South America
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5.2.4.1 Brazil
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5.2.4.2 Argentina
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5.2.4.3 Rest of South America
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5.2.5 Middle East and Africa
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5.2.5.1 South Africa
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5.2.5.2 United Arab Emirates
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5.2.5.3 Rest of Middle East and Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Most Active Companies
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6.2 Most Adopted Strategies
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6.3 Market Share Analysis
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6.4 Company Profiles
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6.4.1 Agro Gums
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6.4.2 Amba Gums & Feeds Products
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6.4.3 Jinan Farming Star Imp&Exp Co. Ltd
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6.4.4 Avlast Hydrocolloids
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6.4.5 Altrafine Gums
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6.4.6 Premcem Gums Pvt. Ltd.
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6.4.7 Dwarkesh Industries
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6.4.8 Wuzhou Jufeng Trading Co., Ltd.
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*List Not Exhaustive -
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Cassia Gum Market market is studied from 2016 - 2026.
What is the growth rate of Cassia Gum Market?
The Cassia Gum Market is growing at a CAGR of 6.2% over the next 5 years.
Which region has highest growth rate in Cassia Gum Market?
Europe is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Cassia Gum Market?
Asia Pacific holds highest share in 2020.
Who are the key players in Cassia Gum Market?
Agro Gums, Amba Gums & Feeds Products, Jinan Farming Star Imp&Exp Co. Ltd, Avlast Hydrocolloids, Altrafine Gums are the major companies operating in Cassia Gum Market.
