by The global Cassia Gum Market is estimated to be valued at US$ 16.2 Mn or Million in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cassia gum is a food additive derived from the bark of the Cassia obtusifolia tree. It is used as a thickening, emulsifying and stabilizing agent in various food and beverage applications. Cassia gum helps improve texture, stability and shelf life of food products.
Market key trends:
One of the key trends driving the growth of the cassia gum market is its increasing demand from the food and beverage industry. Cassia gum is widely used as a replacement for guar gum in several food applications due to its lower price and availability. It is used in dairy products like ice creams, yogurts and creams to modify viscosity. Cassia gum is also utilized in bakery products such as breads and cakes to enhance texture and moisture retention. Growing health-consciousness among consumers has bolstered the demand for plant-based and clean label food ingredients like cassia gum. The rising demand for convenient packaged food products worldwide acts as a major growth driver for the cassia gum market.
Market key trends:
The cassia gum market has been witnessing increasing demand from food & beverage industry for its various functional properties. Cassia gum is widely used as thickening and gelling agent in food products. It provides excellent texturizing and stabilizing properties to food products without altering their flavor and color. Growing demand for clean label and organic products free from artificial ingredients is also driving the utilization of cassia gum in various food formulations. Food companies are increasingly opting for cassia gum as a superior flavor-retaining substitute to carboxymethyl cellulose in bakery, confectionery and other products.
SWOT Analysis
Strength: It is functionally versatile and can be used across various food applications as gelling, thickening and stabilizing agent. It has excellent texturizing properties.
Weakness: It is more expensive than other alternatives like xanthan gum and guar gum. It is not suitable for products that require transparent gels.
Opportunity: Increasing popularity of organic and natural ingredients in food industry presents an opportunity for cassia gum. Rise in demand for clean label and vegan food products also favors the market growth.
Threats: Availability of cheaper substitutes and fluctuation in raw material prices can threaten the cassia gum market.
Key Takeaways
The global Cassia Gum Market is expected to witness high growth, exhibiting CAGR of 6.1% over the forecast period, due to increasing demand from food processing industry for its various functional properties. The market size for 2023 is estimated at US$ 16.2 Mn.
Regionally, Asia Pacific dominated the global cassia gum market in 2022. Countries like India, China, Indonesia are the key producers of cassia gum. India accounted for over 30% of global cassia gum production in 2022.
Key players operating in the 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.
