CASSIA GUM MARKET ANALYSIS

Market Challenges And Opportunities

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 rise 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.