Mastic gum is a resin extracted from the mastic tree that grows in the Mediterranean region. It possesses antimicrobial and anti-inflammatory properties which make it suitable for use in healthcare and food processing applications. Mastic gum is increasingly being used as a thickening agent and natural preservative in chewing gum, confectionery, bakery products, beverages and other food items. It provides texture and extends shelf life of products without using artificial preservatives. The gum also finds application in pharmaceutical industry for manufacturing of medicines and supplements owing to its antioxidant and healing properties.

The global Mastic Gum Market is estimated to be valued at US$ 345.03 Mn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The demand for mastic gum is mainly driven by its increasing application in food processing industry as a natural and sustainable alternative to artificial preservatives and thickeners. The gum helps manufacturers produce clean label products without using synthetic chemicals. It enhances product quality and shelf life. Various clinical studies have also proven antimicrobial efficacy of mastic gum against harmful pathogens. This is further expanding its use in dietary supplements and pharmaceutical formulations. Growing health conscious consumer base is creating opportunities for product innovation using mastic gum as a key ingredient.

Segment Analysis

The global mastic gum market is dominated by the food and beverage sub-segment. The food and beverage sub-segment accounts for over 35% of the total market share owing to wide usage of mastic gum in food products like bakery, confectionery, and beverages for its distinctive flavoring and richness. Mastic gum also finds application in personal care and healthcare owing to its anti-inflammatory and healing properties.

Key Takeaways

The Global Mastic Gum Market Size is expected to witness high growth over the forecast period of 2023 to 2030.

Regional analysis: The Asia Pacific region dominates the market and is expected to witness the fastest growth over the forecast period. Greater consumption of mastic gum in food and beverages in countries like Greece and Turkey drives the market in the region.

Key players operating in the mastic gum market are Acorda Therapeutics, Inc., Gilead Sciences, Inc., NGM Biopharmaceuticals, Inc., Intercept Pharmaceuticals, Inc., Dr. Falk Pharma GmbH. Mastic gum finds application as a food additive and for medicinal purposes owing to its healing properties. The demand for natural and herbal products is increasing globally which is expected to drive the growth of key players in the market.

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