CASSIA GUM MARKET ANALYSIS

The global cassia gum market is projected to surpass US$ 24.5 million by the end of 2030, in terms of revenue, growing at CAGR of 6.1% during the forecast period (2023 to 2030).

Drivers

• Increasing use of cassia gum in place of gaur gum across the pharmaceutical, animal feed, and textile industry

Increasing use of cassia gum in place of gaur gum across the pharmaceutical, animal feed, and textile industries is driving the market growth. Cassia gum is used as a stabilizer in the animal feed industry as it is more economical as compared to other additives. This is also attributed to the growing consumption of meat products around the globe. All these factors are augmenting the market growth of global cassia gum.

• High demand for cassia gum from the food industry

The high demand for cassia gum from the food industry is expected to foster the market growth. Cassia gum is widely used in the preparation of dairy, baby food, and bakery and confectionery products such as jellies, cookies, chocolates, and biscuits. Bakery and confectionery products are the leading application area of cassia gum. Thus, significant demand for the product from the food and beverages industry is projected to foster the market growth of global cassia gum. For instance, the global cassia gum market is expected to grow by 5% between 2023 and 2026. While Asia Pacific continues to dominate the market, the U.S. Is predicted to rase by 5% during the same time period. It is also predicted that the China market would expand in the next few years.

Market Restraints

• Lack of specific guidelines &standards regarding the use of Cassia gum

The availability of substitutes such as other additives is expected to hinder the market growth of global cassia gum. Moreover, the lack of specific guidelines and standards regarding the use of cassia gum is again expected to hamper the market growth of global cassia gum.

Severe changes in climatic conditions such as droughts or floods hamper the production of cassia gum. This impacts the supply and price of the product, leading to increasing product prices. This is expected to hinder the market growth of the global cassia gum.

Market Opportunities

The growing demand for cassia gum from the paper industry is expected to bring new opportunities to the market in the near future. It is also used in the production of water-based paints and ceramics which is also projected to augment the market growth of cassia gum. Moreover, the growing demand for the product in the manufacturing of toothpaste as a gelling agent is further anticipated to fuel the market growth of the global cassia gum.

The growing use of cassia gum in the production of air fresheners where it is used as a thickening agent is expected to offer lucrative growth opportunities to the market. Moreover, the increasing use of cassia gum powder in the preparation of salads, sandwich ingredients, multi-course meat meals, and appetizers is also expected to bolster the market growth. All these factors are propelling the market growth of the global cassia gum.

Market Trends

• Demand towards organic food ingredients

The use of natural and organic food ingredients is a current trend in the market and this is attributed to the growing health concerns and rising awareness regarding the side-effects of synthetic food ingredients. Cassia gum is a natural gelling agent, thus gaining huge demand across food and beverage products. Thus, the growing demand for organic food additives is projected to spur the market growth over the forecast period.

• Millennial and Gen-zee alcohol consumption

Alcohol consumption is a growing trend among millennial. Cassia gum is widely used in the preparation of alcohol where it is used as thickeners and increases the viscosity of the beverage. Moreover, it is also used in the preparation of non-alcoholic drinks such as soft drinks and fruit beverages. Thus, the increasing demand for alcoholic as well as non-alcoholic beverages is expected to augment the market growth of the global cassia gum.

Market segment

Figure 1. Cassia Gum Market By Region, in 2022 

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Regionally, North America dominated the global cassia gum market in 2022, reporting a market share of 61% in terms of revenue, followed by Europe and Asia Pacific.

On the basis of application, the food and beverages segment dominated the global cassia gum market in 2022 with around 71% of market share in terms of revenue, followed by the manufacturing industry.

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Global Cassia gum Market - Impact of Coronavirus (Covid-19) Pandemic

The demand for meat, dairy, and aquaculture products increased during the coronavirus (COVID-19). However the supply chain across the globe suffered many disruptions, owing to which producers are facing difficulties in providing their products in the market. These factors will negatively impact consumer’s spending power and hamper the demand for global cassia gum market during 2021.

Competitive Section

The key players operating in global cassia gum market are Agro Gums, Avlast Hydrocolloids, Altrafine Gums, H. B. Gum Industries Private Ltd, Premcem Gums Pvt. Ltd., Agro Herb Gums, JD Gums And Chemicals, Dwarkesh Industries, Fooding Group Limited, Amba Gums & Feeds Products, and The Lubrizol Corporation

*Definition - Cassia gum is an additive derived from the endosperms of the seeds of Senna obtusifolia, also known as cassia tora. It is widely used as a gelling agent, stabilizer, and emulsifier in the food and personal care industries. It also enhances the texture of food products such as frozen dairy desserts, cheese, and meat and poultry products.