Locust Bean Gum Market Size, Share, Growth, and Industry Analysis by Type (Powder, Particles, Flat Sheet), by Application (Paper, Textile Sizing, Industrial Applications, Food), Regional Insights, and Forecast To 2032

Updated On: 08 April 2024

LOCUST BEAN GUM MARKET REPORT OVERVIEW

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The global locust bean gum market size was USD 262.8 million in 2022 and market is projected to touch USD 358.25 million by 2032 at CAGR 3.1% during the forecast period.

Locust Bean Gum is a natural gum made from the seed of the Carob tree. It is soluble in water and has a high viscosity. Locust Bean Gum is used as a thickener, stabilizer, and emulsifier in food, pharmaceuticals, and other industries. Locust bean gum is majorly used for various functions such as replicators, gelling, coating, textures, sizing agents, stabilizations, in several industries. Locus bean gum has applications in condiments & dressing, food & beverages products & sauces, bakery, confectionery, bakery, pharmaceuticals excipients, fiber adhesion, meat & meat products and more others. The market for gluten-free products is still expanding, and locust bean gum is frequently used to enhance the texture and rise of bread and other baked products. Because locust bean gum is inherently plant-based and gluten-free, it is frequently used in gluten-free and vegan food products as a replacement for substances like gluten and thickeners originating from animals.

Participants are fixing their efforts on encouraging R&D. Technological development are supporting the regional market growth. Manufacturers need to stay updated with changing market trends and develop products that meet growing consumer needs. Companies coming up with progressive technological solutions for firming their positions.

COVID-19 Impact:  Pandemic Hampered The Market Due To Unexpected Disruption In The Sector

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

COVID- 19 pandemic has extremely affected the whole world. It caused many unexpected disruption and affected the industry. COVID- 19 had negative impact on the market due to economic slowdown, unpredictability in financial sector and high unstable market. The pandemic resulted in decreased demand due to a disrupted supply chain, drop in sales of products, delivery schedules. Travel bans imposed affected business collaboration and partnership. Demand had recently reduced due to travel bans and lockdown during the COVID-19 pandemic. The continuous loss in the business due to the lockdown measures is projected to directly influence the growth of the investments in the market.

LATEST TRENDS

Use Of Innovative Products To Boost The Market Growth

Technological improvement and development will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market. Technological advancement will improve performance and propel the market growth. Technological advancement with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings. Constant innovation in manufacturing of products is anticipated to stimulate product demand.

LOCUST BEAN GUM MARKET SEGMENTATION

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• By Type Analysis

According to type, the market can be segmented into powder, particles, flat sheet.

Powder will capture the maximum market share through forecast period.  

Powder – Powder is the most common type of locust bean gum. It is a fine, white powder with a slightly sweet taste and no aftertaste. The powder is used in food products such as ice cream, cakes, and cookies. It can also be used as a thickener or stabilizer for dressings, sauces, and marinades.

Particles – The particles type of locust bean gum is a coarse, off-white powder. It has a slightly sweet taste and no aftertaste. The particles are used in food products such as jams, jellies, and preserves.

Flat Sheet- The flat sheet type of locust bean gum is made up of thin sheets that dissolve quickly in water. This type has a sweet taste with a slightly bitter aftertaste. The flat sheet is used in food products such as ice cream, cakes, and cookies. It is also used in pharmaceuticals and other industries.

• By Application Analysis

According to application, the market can be segmented into paper, textile sizing, industrial applications, food

Locust bean gum market players cover segment as paper will dominate the market share during forecast period.

Paper - The use of locust bean gum in paper products helps to improve the strength, smoothness, and appearance of papers. It also helps to reduce the porosity and surface roughness of papers.

Textile Sizing - The use of locust bean gum in textile sizing improves the absorbency, durability, finish, and colourfastness of textiles. It also reduces wrinkling and shrinking in textiles.

Industrial Applications - The use of locust bean gum in industrial applications helps to improve the strength, smoothness, and appearance of papers. It also helps to reduce the porosity and surface roughness of papers.

Food- The use of locust bean gum in food products helps to improve the texture, flavour, and stability of foods. It also helps to reduce the fat and calorie content of foods.

DRIVING FACTORS

Increasing Demand For Natural & Plant Based Ingredients To Boost The Market Growth

Consumers are increasingly seeking natural and plant based alternatives I their food and beverages choices. The use of locust bean gum in food products helps to improve the texture, flavor, and stability of foods. Being a natural ingredient it meets the demand and offers a clean label solution for manufacturers.

Technological Advancement and Innovation To Upsurge The Market

Technological advancements and innovation activate unique revenue augmenting opportunity which will upsurge the locust bean gum market growth. Growing investment in research and development activities and growing awareness about benefits are expected to deliver profitable opportunities for the market. Constant development are one of the trends in the market in variety of practices. Market players are investing in research and development activities to explore new applications and improve the functionality.

RESTRAINING FACTOR 

Price volatility To Hamper The Market Growth

Variations in crop output, shifts in market demand, and adjustments to supply conditions can all affect the price of locust bean gum. Food makers may find it difficult to forecast and control ingredient costs as a result. Technical difficulties will reduce the industry revenue.

LOCUST BEAN GUM MARKET REGIONAL INSIGHTS

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North America to Dominate the Region Due To The Growing Food Processing Industry

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East and Africa.

North America is further expected to witness growth in the locust bean gum market share. The region is dominating the market due to the growing food processing industry, along with a shift towards natural and healthy food ingredients.  The rising inhabitants and increasing income levels are also contributing to the development of the market. Upsurge in investments by key market players for the R&D undertakings and enlargement of their production abilities and product portfolios are projected to upsurge the growth. The expansion of regional market is being aided by technological developments.

KEY INDUSTRY PLAYERS

Key Players Focus On Partnerships To Gain Competitive Advantage

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger. The collective efforts of these major players expressively impact the competitive landscape and future path of the market.

List Of Market Players Profiled

• INCOM A.S (China)
• Carob SA (Spain)
• Nepa Trital (Portugal)
• LBG SICILIA SRL (Italy)
• Tate & Lyle (U.K.)

INDUSTRIAL DEVELOPMENT

November 2021: CarobWay, an Israeli agritech company, collaborated with Israeli farmers for research and development to launch a new range of carob products.

REPORT COVERAGE

The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.