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Locust Bean Gum Market Trends

Report ID: GMI9004
Published Date: Apr 2024
Report Format: PDF

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Locust Bean Gum Market Trends

An emergent trend in the locust bean gum industry, underscored by its escalating adoption in plant-based and clean label formulations across diverse industries, heralds’ significant potential for growth. With an increasingly health-conscious and environmentally aware consumer base, the demand for natural, sustainable ingredients in food, beverages, pharmaceuticals, and personal care products is on an upward trajectory.

Locust bean gum, derived from the seeds of the carob tree, seamlessly aligns with this paradigm shift owing to its innate origin and multifaceted functionalities as a thickener, stabilizer, and gelling agent. Its coveted clean label status further amplifies its appeal among consumers ardently seeking transparency and authenticity in product composition.

Moreover, as manufacturers pivot towards accommodating these evolving consumer preferences, an uptick in interest is observed towards integrating locust bean gum into innovative formulations, ranging from plant-based meat substitutes to dairy-free products and natural cosmetics. This transformative trend not only propels the expansion of the market but also unveils lucrative avenues for companies to leverage the burgeoning demand for clean labels and sustainable solutions across myriad industries.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of locust bean gum recorded USD 269 million in 2023 and is set to witness 2.4% CAGR from 2024 to 2032, owing to the rising demand for natural and plant-based ingredients in food, beverages, pharmaceuticals, and personal care products.

The powder segment accounted for USD 170 million in revenue in 2023, due to its rising preference in an array of industries spanning food, pharmaceuticals, and cosmetics.

North America market size was USD 87 million in 2023, led by the well-established food & beverage sector along with the high demand for natural and clean label ingredients.

Arthur Branwell & Co. Ltd., Cargill, Incorporated, DuPont de Nemours, Inc., Fiberstar, Inc., Galam Group, Gum Technology Corporation, Kerry Group, Lucid Colloids Ltd., Merrick and Company, Polygal AG, TIC Gums, and In Kemin Industries, Vosen. are some of the major locust bean gum companies worldwide.