Gellan Gum Market is Estimated to Witness High Growth Owing to Rising Demand from Food and Beverage Industry
Gellan gum is a water-soluble, anionic polysaccharide produced by the Sphingomonas elodea bacteria. It is used as a gelling agent, stabilizer and thickener in various applications such as food, cosmetics, pharmaceuticals and others. Gellan gum provides excellent heat and shear stability, film elasticity and forms strong transparent gels even at low concentrations. In the food industry, gellan gum is used in dairy products, bakery, soups, meat products, salad dressings and many others to improve texture, stabilize emulsions and suspensions, control crystal growth and prevent syneresis.
The global 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 Opportunity:
The rising demand for convenience, packaged and processed foods across the globe is a major factor driving the growth of gellan gum market. Gellan gum helps food manufacturers to develop innovative textures and provide mouthfeel, while maintaining nutritional value in food products. It plays an important functional role in everyday foods and beverages consumed worldwide. The texture, feel and sensory perception of food products can be significantly enhanced through strategic use of gellan gum. This unique functional ability and versatility opens up new opportunities for food processors and manufacturers to explore its potential in developing new and improved food formulations. The clean label trend also supports the demand for gellan gum, since it is naturally sourced and labeled as a vegetable gum. The market opportunity lies in continual innovation in food textures through gellan gum and leveraging its functional benefits across various food categories.
Porter's Analysis
Threat of new entrants: The gellan gum market size requires significant R&D investments and time to develop production facilities. Thus, the threat of new entrants is moderate.
Bargaining power of buyers: Buyers have moderate bargaining power as gellan gum has applications in various industries like food, pharmaceuticals, and personal care. Switching costs are low for buyers.
Bargaining power of suppliers: Leading gellan gum manufacturers control a major share of global supply. This gives them strong bargaining power over buyers.
Threat of new substitutes: Other hydrocolloids like xanthan gum, guar gum, and alginate can substitute gellan gum. However, substitutes are not exact replacements, giving gellan gum some protection.
Competitive rivalry: The global gellan gum market is moderately fragmented with large and small players. Market leaders focus on R&D and new product innovation to gain market share.
SWOT Analysis
Strengths: Wide applications in food, pharma, and personal care industries. Gellan gum has unique gelling and texturing properties.
Weaknesses: High production costs. Supply concentration increases supplier bargaining power.
Opportunities: Growth of food processing industry in developing nations. Rising personal care industry spending on natural ingredients.
Threats: Threat from substitutes like xanthan and guar gums. Stringent regulations around food additive approvals.
Key Takeaways
The global gellan gum market is expected to witness high growth over the forecast period of 2023 to 2030. The global 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.
The Asia Pacific region currently dominates the global gellan gum market owing to the large food processing industry and rising health awareness in countries like China and India.
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.
Get more insights on this topic: https://www.newswirestats.com/gellan-gum-market-size-and-opportunity-analysis-2023-2030/
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