The Europe Bean Gum Market was worth USD 1.56 billion in 2016 and estimated to be growing at a CAGR of 5.77%, to reach USD 2.07 billion by 2021.
This market is expected to have a significant growth in the forecast period due to rising demand from end-users like paper, textiles, food and beverages based industries and others.
Bean Gum are food additives which are used in foods for various forms such as stabilizers, thickening agents, texture modifiers, fat replicators and sizing agents in order to meet the customer demand. A few options like Locust Bean Gum can also be used as a replacement for chocolate since it tastes very similar.
They can be used as fat replacers since they displace the fat present in food.
They are added in cigarettes to improve the taste.
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The Europe market for Bean Gum is chiefly driven by factors like busy lifestyle, low price, rising demand for cholesterol free items by health conscious customers, convenience in using them, changing eating trends among other factors. However, this market is constrained by factors like small margins which is also going to affect its future supplies and disparity between supply and demand due to shortage in resources.
These factors will hinder the growth of this market in the future.
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The Europe Bean Gum market is segmented by type into Guar Gum, Locust Bean Gum, Gum Arabic, Tara Gum, Gellan Gum and other gum. By application this market is divided into fruit juices, soft drinks, bread and pastry, baby foods, confectionaries, ice creams and other foods.
By end users, the market is divided into food and beverages, pharmaceuticals, paper, textiles, cosmetics and oil drilling fluids. By function they are segmented into stabilisation, texturing, coating, gelling and fat replacer.
By end users food and beverages segment has the largest market share owing to their wide spread application in foods. It is followed by paper industry.
However, the paper industry is losing its share as Bean Gum are being replaced by other materials. Textile industry is picking up its growth as they are using Bean Gum as sizing agents.
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The Europe market for Bean Gum is geographically segmented into United Kingdom, Germany, France, Spain, Italy and others. France holds the largest market share in this region.
Germany has a large market in Gelatin and Pectin segments. Italy and Spain are primarily driven by huge ready to eat industry and people’s preference for natural foods.
UK holds the largest share for Pectin segment.
Some of the major companies dominating the Europe Bean Gum market are Cargill, Kerry group, Scalzo Food Industries, LBG Sicilia ingredients, G Araouzos & Son, Ceamsa, TIC Gum Incorporation, CP Kelco, Fiberstar Inc., FMC Specialty Chemicals, Gum Technology Corporation and E.I. DuPont De Nemours & Company.
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