SEATTLE--(BUSINESS WIRE)--The global gellan gum market was valued at US$ 153.4 Mn in 2018, and is expected to exhibit a CAGR of 11.8% over the forecast period (2019–2027), in terms of revenue.
Key Trends and Analysis of the Global Gellan Gum Market:
Global gellan gum market is expected to witness significant growth over the forecast period, owing to factors such as rapidly growing food and beverage industry, vegan alternatives for animal-based products, and increasing mergers and acquisitions by market players. For instance, according to a report titled 'Sector Trend Analysis of Bakery Products' published by the Agricultural and Agri-food department of Canada in December 2016, the global bakery market in terms of retail value reached US$ 338.7 billion in 2015 from US$ 321.8 billion in 2014, with a CAGR of 4.7% for the period 2010-2015.
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High acyl gellan gum is a type of gellan gum that is used to improve the taste of the product, and also used as a thickener and stabilizer. In fruit juices, high acyl gum is used to form elastic gels or can be mixed with other hydrocolloids to produce juices with different texture. High acyl gellan gum is used as a suspension agent in milk products, plant-based protein drinks, fruit juices, and other beverages.
Moreover, increasing disposable income is expected to boost growth of the for food & beverages industry, which will further fuel demand for gellan gum in North America. For instance, according to Trading Economics Statistics on United States Disposable Personal Income, the disposable personal income in the U.S. averaged US$ 5,200.2 billion in 1959, which increased to US$ 15,742.81 billion in November 2018.
However, various substitutes such as pectin, xanthan gum, guar gum, and locust bean gum among others are available in the market that can easily replace gellan gum. Increasing availability of substitutes is expected to hamper growth of the gellan gum market during the forecast period.
Key Market Takeaways:
- The global gellan gum market is expected to exhibit a CAGR of 11.8% during the forecast period in terms of revenue. The global gellan gum market is expected to witness significant growth over the forecast period, owing to increasing application of gellan gum in the food and beverage industry. For instance, according to a report on United Arab Emirates (UAE) Sector Trend Analysis of Confectionery products published in April 2017 by the Department of Agriculture & Agri-food, Canada, in UAE, confectionery sales were valued at US$ 481.9 million in 2016, which are expected to surpass US$ 800 million in 2021.
- Based on application, in 2018, food and beverage segment accounted for the largest share of 72.9% in terms of revenue in the global gellan gum market. For instance, according to the National Chicken Council (NCC), per capita consumption of poultry products in the U.S. was 108.5 lbs. in 2017, and is expected to reach 110.4 lbs. by 2019.
- Key players operating in gellan gum market are focused on expanding their market presence to meet increasing demand. In November 2017, DSM and Zhejiang Haixing Investment Co. Ltd. acquired maximum stakes of the China-based company, Inner Mongolia Rainbow Biotechnology Co. Ltd., and renamed it as DSM Rainbow (Inner Mongolia) Biotechnology Co., Ltd. The shares were divided in three parts, where DSM owned 65% of the shares, Haixing owned 27% of the shares, and Gu Li Quan, the founder of Rainbow, owned 8% of the shares. This acquisition helped DSM to strengthen its gellan gum hydrocolloid business in the global market.
- Key companies operating in global Gellan Gum market include DSM, CP Kelco, H & A Canada Inc., Nanjing Joyfulchem Co., Ltd., Dancheng Caixin Sugar Industry Co. Ltd., Zhengzhou Cinogel Biotech Co., Ltd., Hangzhou Gellan Solutions Biotec Co., Ltd., DuPont, Hebei Xinhe Biochemical Co. Ltd, and Nutricorn Co., Limited.
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Global Gellan Gum Market, By Product Type:
- High Acyl Content
- Low Acyl Content
Global Gellan Gum Market, By Application:
Food & Beverages
- Bakery & Confectionery
- Dairy Products
- Meat & Poultry
- Sauces & Dressings
- Cosmetics & Personal Care
- Others (Biotechnology and Others)
- Food & Beverages
Global Gellan Gum Market, By Region:
- South Korea
Middle East & Africa
- South Africa
- North America
- Company Profiles