April 15, 2024
Gellan Gum Market

Gellan Gum Market Is Estimated To Driven By Increasing Usage Of Plant-Based Thickeners

Gellan gum, often used as a food additive, is a high-acyl polysaccharide gelling agent and stabilizer that is obtained through the fermentation of Sphingomonas elodea microorganisms. It is commonly used as a thickening, stabilizing and gelling agent in food products such as desserts, dairy products, beverages, sauces, soups and dressings. The benefits it provides include clarity, texture improvement, stabilization and moisture retention. The global food industry’s move toward using more plant-based thickeners and stabilizers instead of animal-derived ones has increased the demand for gellan gum.

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 22%  over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Some of the important trends that are driving the gellan gum market include rising health consciousness and clean label movement. Consumers are increasingly demanding higher nutritious food products free of additives and preservatives, which is fueling the demand for natural and clean label gelling and stabilizing agents like gellan gum. Additionally, increasing application of gellan gum in pharmaceutical and personal care industries owing to its thickening, stabilizing and soft gel suspension properties is projected to fuel the market growth over the forecast period. Furthermore, growing demand for plant-based and vegan food products is also driving the adoption of gellan gum made from fermented sugar instead of animal-derived gelatin. These key trends are expected to define the market growth trajectory in the coming years.

Porter’s Analysis

Threat of new entrants: The global gellan gum market requires significant capital investments, which poses a barrier for new players. Strict regulations regarding approval and quality standards for food additives further limit threat of new entrants.

Bargaining power of buyers: Buyers in the gellan gum market have moderate to high bargaining power due to availability of substitutes. However, unique properties of gellan gum reduce impact of buyer power.

Bargaining power of suppliers: Leading gellan gum producers have significant supplier power due to limited number of manufacturers globally and reliance of buyers on few suppliers.

Threat of new substitutes: Although several hydrocolloids compete with gellan gum, its versatile functional properties pose low-moderate threat from substitutes.

Competitive rivalry: The global gellan gum market is consolidated in nature with top players accounting for major share. Intense competition exists based on product differentiation, quality, and pricing.

Key Takeaways

The global Gellan Gum Market Demand is expected to witness high growth over the forecast period. 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 22%  over the forecast period 2023 to 2030.

Asia Pacific dominates the market and is expected to maintain its leading position throughout 2023-2030. This can be attributed to rising food processing industry and increasing demand for gums and hydrocolloids in the region. North America and Europe are other major consumers of gellan gum. Growth in these regions is driven by expanding pharmaceuticals industry utilizing gellan gum’s thickening and stabilizing properties in various medications.

Key players related content comprises: Key players operating in the gellan gum market are AT&T Inc., Verizon Communications Inc., NTT Communications Corporation, China Telecom Corporation Limited, Deutsche Telekom AG, British Telecommunications plc. (BT), Orange S.A., Telefonica S.A., Sprint Corporation (now part of T-Mobile), CenturyLink (now rebranded as Lumen Technologies), Vodafone Group plc, SoftBank Group Corp., Level 3 Communications and Telstra Corporation Limited, Tata Communications Limited. These leading players account for a sizable share and are focusing on new product launches and expansion in emerging regions.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it