Gellan Gum Market Size was valued at $238,457.00 thousand in 2020, and is estimated to reach $420,950.00 thousand by 2030, growing at a CAGR of 6% from 2021 to 2030.
The food service industry has been significantly contributing toward growth of the gellan gum market as hotels, restaurants, and fast-food outlets are labeling their products with plant-based ingredients or vegan and are serving food with vegan sauces as appetizers. Furthermore, growth in urbanized and millennial population, which are potential and targeted consumers, majorly influence the product growth. Young population is concerned regarding heath and are getting aware regarding benefits of plant-based dairy and meat products including cheese and butter milk.
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Growth in flexitarian and vegan population, rise in efforts against animal slaughtering, and concerns about their welfare majorly propel demand for plant-based food products, which boosts Gellan Gum Market demand in the process. Furthermore, lactose intolerance and dairy allergic people are increasingly inclining toward plant-based foods as plant-based food products provide proteins, vitamins, and carbohydrates like dairy products.
The gellan gum market is segmented on the basis of type, application, and region. On the basis of type, the market is divided into high-acyl content and low-acyl content. On the basis of application, it is classified into foods & beverages, pharmaceuticals, cosmetics & personal care, and others. Region wise, the Gellan Gum Industry is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, ASEAN, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, the UAE, Saudi Arabia, South Africa, and rest of LAMEA).
On the basis of type, the high acyl content segment has the major Gellan Gum Market Share. This is attributed to rise in demand for plant protein-based beverages and high acyl gallen gum is utilized in production of these beverages to contrive its taste.
On the basis of application, the food & beverage segment dominated the global market in 2020. This is attributed to the shift of consumers toward vegan diet, which is leading them to avoid any animal-based products and adopt plant-based diet in their regular consumption.
On the basis of region, Asia-Pacific is the dominating region, owing to its high population and the growing foods & beverages industry.
Players operating in the global gellan gum market have adopted various developmental strategies to increase their market share, gain profitability, and remain competitive in the market. The players operating in the global gellan gum market have adopted various developmental strategies to increase their market share, gain profitability, and remain competitive in the market. Key players operating in the market include Dancheng Caixin Sugar Industry Co. Ltd., DuPont de Nemours, Inc., H & A Canada Inc., Hebei Xinhe Biochemical Co. Ltd, J.M. Huber Corporation, Koninklijke DSM N.V., Nanjing Joyfulchem Co. Ltd., OPAL Biotech, Shanghai Bichain Industrial Chemical Co., Ltd. , and Zhengzhou Cinogel Biotech Co. Ltd.
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