Gum Fiber Market size to exceed $1.8bn by 2026
Published Date: June 19, 2020 Authors: Kunal Ahuja, Amit Rawat
Gum Fiber Market size is set to surpass USD 1.8 Billion by 2026, according to a new research report by Global Market Insights, Inc.
Growing awareness regarding multifunctional properties exhibited by the product in numerous end-use application industries will drive the gum fiber industry growth. Consumers have started keeping track of dietary recommendations due to rise in health issues & ailments among both young and elderly populace across the globe. Introduction of natural and organic ingredients in convenience food & beverage products will foster the demand for gum fiber. Rising focus on development of certified seeds by research organizations and agricultural universities will further escalate industry growth.
Increasing mining operations owing to rising demand for metals, coal, oil shale, gemstones, limestone, rock salt, potash, gravel, etc. will bolster product demand. Moreover, surge in R&D initiatives to launch novel solutions in form of pharmaceutical supplements has enhanced product penetration in the dietary supplement industry. Stimulating government health programs and prolonged research for reducing the risk of major disorders such as cancer, obesity and cardiovascular diseases will augment gum fiber market growth.
Growing demand for guar gum in oil & gas and mining & construction industries will foster product demand
Guar gum plays a vital role in the oil & gas and mining & construction sector, as they possess excellent properties such as viscosity control, fluid & water loss control, lubrication in form of fracturing, bonding, and gelling agents. Rising demand for guar gum in construction industry owing to maintain structural integrity by prevention from water-related structural deterioration will promulgate the industry size. It helps to improve the performance of wall construction when applied in cement-gypsum based plasters, crack fillers, wall putty, texture plasters, and leveling compounds.
As per industry trends, rise in oil field, oil well drilling, fracturing & recovery activities across the globe will surge their utilization rates in form of flocculant and gelling agents. It helps in reducing water mobility and providing enhanced stability against shear, salt, and temperature. Due to its high viscosity, it is extensively used in hydraulic fracturing of rocks, geological drilling, water, and oil well drilling for enabling drilling fluids to remove drill waste from deep holes. They are also used in pumpable slurry explosives and gel sausage type explosives for preserving the explosive property even in wet conditions.
“As per industry forecasts, guar gum fiber market is forecast to witness over 9.5% CAGR between 2020 and 2026 owing to robust utilization in oil well drilling, and coal mining industries”
Browse key industry insights spread across 250 pages with 186 market data tables and 40 figures & charts from the report, “Gum Fiber Market Outlook By Product (Gum Arabic, Guar Gum, Locust Bean Gum), By Application (Food [Frozen Foods, Confectionary, Beverages, Dairy], Oil & Gas, Mining & Construction, Textile, Pharmaceutical, Personal Care & Cosmetics), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Increasing product utilization in food & beverage industry to fuel gum fiber industry statistics
Gum fibers are listed under dietary fibers, and hence provide the manufacturers with improved nutritional profile. It is commonly used as an additive for maintaining the viscosity, stability, and texture levels in food & beverage items. This has led to substantial demand for dietary fiber-based products as consumers have realized its benefits in reducing lifestyle diseases such as obesity, diabetes, bowel syndrome, and diarrhea. Global convenience food market is anticipated to witness significant gains over 5% through 2026. These factors will have a positive impact on gum fiber market growth.
“As per the analysis, gum fiber market from food application is forecast to grow over 9.5% through 2026 owing to increasing utilization in form of food additive in many processed food and beverage products”
Increasing consumption of bakery & confectionary, dairy, and beverage products with low-calorie and low-fat content in Europe will foster product demand
Countries including Germany, Italy, France, Spain, Russia, and the UK are among the key food & drink manufacturers in Europe. The region is characterized by availability of raw materials such as locust bean gum and gum arabic along with organized processed food industry. Shifting consumer preference towards consumption of nutritious food supported by a strong potential market for bakery & confectionery, frozen foods, soft drinks and pet food will provide numerous opportunities for the key industry players.
Key market participants in gum fiber market are Nexira, Vikas WSP, Lucid Group, Dupont, LBG Sicilia, Neelkanth Polymers, Shree Ram Industries, and Cargill.
According to market trends, several market players are also involved in various strategies and initiatives including product innovation, technological advancements, joint venture and mergers & acquisition in order to gain substantial market share.
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