Food Grade Gellan Gum Market to Achieve US$ 284.2 Million at a CAGR of 4.4% by 2034: Fact.MR Study
Rising Popularity of Plant-Based Substitutes and Clean-label Products Accelerate Demand for Food Grade Gellan Gums in Nutraceuticals and Functional Foods
Rockville, Jan. 03, 2024 (GLOBE NEWSWIRE) — According to Fact.MR, a provider of market research and competitive intelligence, the global Food Grade Gellan Gum Market size is poised for significant growth, attaining US$ 184.2 million in 2024. The sales of food grade gellan gum are expected to witness a robust CAGR of 4.4% from 2024 to 2034. By 2034, the demand for food grade gellan gum is anticipated to reach US$ 284.2 million.
Demand for stabilizers and thickeners is rising in the food and beverage industry, propelling the steady rise of the global food grade gellan gum market. A significant factor in food grade gellan gum’s growing appeal is how well it improves texture and stability in various culinary items.
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Key Segments of Food Grade Gellan Gum Industry Research Report
The rising popularity of plant-based substitutes and clean-label products fuels market growth of food grade gellan gum. Food grade gellan gum is becoming a growing trend due to improvements in shelf life and food processing technology.
A few obstacles the food grade gellan gum industry must overcome are strict regulatory requirements and volatile raw material prices. It is up to manufacturers to overcome the difficulties to maintain the market’s upward trajectory from the growing demand for food grade gellan gum in various culinary applications.
- The adoption of food grade gellan gum in the Asia Pacific area is aided by growing consumer awareness of clean-label and plant-based ingredients, indicating a move toward natural and healthier food compositions.
- Food makers use the unique qualities of hydrocolloids to improve texture, stability, and mouthfeel in various food applications, which drives the Europe food grade gellan gum market.
- The adoption of food grade gellan gum is driven by the well-established processed food sector in North America, which benefits from the gum’s capacity to improve the texture and stability of various food and beverages.
- The bakery segment in the application category is set to grab a share of 32.67% in 2024.
- In the type category, the low acyl segment leads the market by product.
- The bakery segment in the application category is expected to exhibit a CAGR of 4.1% from 2024 to 2034.
- In the type category, the low acyl segment is projected to escalate at a CAGR of 4.5% through 2034.
- The North America food grade gellan gum industry is anticipated to surge at a CAGR of 4% in 2024.
- The East Asia food grade gellan gum market is expected to develop at a CAGR of 5% through 2024.
- China’s food grade gellan gum sales are expected to surge at a CAGR of 4.8% until 2034.
- Japan’s food grade gellan gum industry is anticipated to boost at a CAGR of 6.3% by 2024.
- South Korea’s food grade gellan gum market to exhibit a CAGR of 3.9% by 2024.
- The United States food grade gellan gum market is anticipated to surge at a CAGR of 4.3% by 2024.
- Canada’s food grade gellan gum industry to develop at a CAGR of 3.8% through 2024.
- Mexico’s food grade gellan gum market is expected to surge at a CAGR of 1.6% until 2034.
“The food grade gellan gum market is anticipated to increase steadily because of its rising demand from the food and beverage sector. The market is expanding due to the rising consumer preference for plant-based components and their beneficial qualities, which offers lucrative opportunities for food grade gellan gum manufacturers.” comments an analyst
There are several food grade gellan gum vendors in the market, which creates a competitive environment. Product innovation, price tactics, and distribution network growth are some of the elements that fuel fierce competition among food grade gellan gum suppliers. Major food grade gellan gum manufacturers concentrate on research and development to improve product quality and satisfy a wide range of consumer tastes.
The food grade gellan gum sector is characterized by a dynamic and competitive environment, influenced by various factors such as growing customer needs, regulatory standards, and sustainability considerations.
- The 50% ownership share of RHI Magnesita (RHIM) in the 50/50 joint venture MAGNIFIN Magnesiaprodukte GmbH & Co. K.G. was acquired by Huber Engineered Materials in January 2022.
- The gellan gum production capacity of CP Kelco, a firm that provides nature-based ingredient solutions, was increased at its plant in Okmulgee, Oklahoma, in August 2019. Due to this expansion, CP Kelco fortified its food grade gellan gum business in the North American market.
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|Value Projection (2034)
|USD 284.2 Million
|Growth Rate (2024-2034)
|No. of pages
|No. of Tables
|No. of Figures
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