The gellan gum market is estimated to be valued at US$ 216.82 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Gellan gum is a gelling agent and emulsifier used in various food & beverage products such as desserts, sauces, soups, and others. It has unique properties that provide required consistency and texture in foods. It is widely used in personal care products like hair gel, toothpaste, and cosmetics owing to its ability to form thermoreversible gels.
Market Dynamics:
The growth of the gellan gum market is attributed to its wide range of applications in various industries such as food & beverage, cosmetics, and pharmaceutical. Gellan gum is widely used as a thickening and gelling agent in soups, sauces, dressings, and dairy products. It helps to retain moisture and improve texture while reducing overall costs. Additionally, growing demand for vegan and plant-based foods is also driving the market growth. Properties of gellan gum like stabilizing, suspending, and thickening help in development of new food products. Another driver for this market is increasing expenditure on personal care and cosmetic products. Gellan gum is used in hair gels, makeup products, and creams owing to its gelling and stabilizing properties. It provides smooth texture to the final products.
SWOT Analysis
Strength: Gellan gum has unique functional properties such as hydrocolloid functionality, texturizing and stabilizing properties. It acts as an excellent thickening, gelling and stabilizing agent. Gellan gum can produce soft, elastic gels over a wide range of pH levels and temperatures. Gellan gum provides heat and freeze-thaw stability to food products.
Weakness: Fluctuations in the prices of raw materials required for the production of gellan gum and high dependency on few key market players pose challenges to market growth. Some health concerns related to its excessive consumption can also restrain the demand for gellan gum.
Opportunity: Growing demand for convenience and functional foods and beverages offers lucrative growth opportunities. Increasing usage of gellan gum in pharmaceuticals formulations for its benefits such as bioadhesive properties also provides growth prospects.
Threats: Presence of alternative gelling and thickening agents that can be potentially used by food manufacturers pose competitive threats. Stringent regulatory frameworks pertaining to the usage of gellan gum can also negatively impact the market.
Key Takeaways:
The Global Gellan Gum Market Size is expected to witness high growth, exhibiting CAGR of 12.% over the forecast period, due to increasing demand for convenience and functional foods. Gellan gum finds widespread application in food industries due to its viscosity-enhancing and stabilizing properties.
Regional analysis:
North America dominates the global gellan gum market and is expected to maintain its lead over the forecast period. This is attributed to increasing demand for healthy and functional food products. Asia Pacific exhibits the fastest growth rate owing to rising health awareness, growing disposable incomes and expansion of food processing industry in emerging countries of the region.
Key players:
Key players operating in the gellan gum market are DSM, CP Kelco, H & A Canada Inc., Nanjing Joyfulchem Co., Ltd., Dancheng Caixin Sugar Industry Co. Ltd., Zhengzhou Cinogel Biotech Co., Ltd., Hangzhou Gellan Solutions Biotec Co., Ltd., DuPont, Hebei Xinhe Biochemical Co. Ltd, and Nutricorn Co., Limited.
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