Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Cassia gum is an additive derived from 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 industry. It also enhances the texture of food products such as frozen dairy desserts, cheese, and meat &poultry products.
The global Cassia gum market is projected to surpass US$ 21.5 million by the end of 2027, in terms of revenue, growing at CAGR of 6.5% during the forecast period (2020 to 2027).
Increasing use of cassia gum in place of gaur gum across the pharmaceutical, animal feed, and textile industry is primarily driving the market growth. Cassia gum is used as a stabilizer in the animal feed industry as they are 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 cassia gum.
High demand for cassia gum from the food industry is expected to foster the market growth of the cassia gum. They are widely used in the preparation of dairy, baby food, and bakery &confectionery products such as jellies, cookies, chocolates, and biscuits. Bakery &confectionery products are the leading application area of cassia gum. Thus, significant demand for the product from food &beverage is projected to foster the market growth of cassia gum.
Regionally, North America dominated the global cassia gum market in 2019, reporting 61% market share in terms of revenue, followed by Europe and Asia-pacific, respectively.
Figure 1. Global Cassia Gum Market, Revenue Share (%), By Region, 2019
The availability of substitutes such as other additives is expected to hinder the market growth of cassia gum. Moreover, the lack of specific guidelines &standards regarding the use of cassia gum is again expected to hamper the market growth of 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 an increase in the price of the product. This is expected to hinder the market growth of the cassia gum.
Cassia Gum Market Report Coverage
||Market Size in 2019:
||US$ 21.5 Mn
|Historical Data for:
||2016 to 2019
||2020 to 2027
|Forecast Period 2020 to 2027 CAGR:
||2027 Value Projection:
||US$ 13.0 Mn
- North America: U.S., Canada
- Latin America: Brazil, Mexico, Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
- Asia Pacific: China, India, Japan, Australia, Rest of Asia Pacific
- Middle East & Africa: South Africa, GCC Countries, Rest of Middle East & Africa
- By Application: Food & Beverage and Manufacturing Industry
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
- Increasing use of cassia gum in place of gaur gum across the pharmaceutical, animal feed, and textile industry
- High demand for cassia gum from the food industry
|Restraints & Challenges:
- Lack of specific guidelines &standards regarding the use of Cassia gum
Growing demand for cassia gum from the paper industry is expected to bring new opportunities to the market in the near future. It is used also used in the production of water-based paints and ceramics which is also projected to augment the market growth of the cassia gum. Moreover, growing demand for the product in the manufacturing of toothpaste as a gelling agent is further anticipated to fuel the market growth of the 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 opportunities to the market. Moreover, 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 cassia gum.
Figure 2. Global Cassia Gum Market – Opportunity Analysis
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 &beverage products. Thus, the growing demand for organic food additives is projected to spur the market growth of the cassia gum over the forecast period.
Alcohol consumption is a growing trend among millennial. Cassia gum is widely used in the preparation of alcohols where it is used as thickeners and increases the viscosity of the beverage. Moreover, it is also used in the preparation of non-alcoholic drink such as soft drinks and fruit beverages. Thus, increasing demand for alcoholic as well as non-alcoholic beverages is expected to augment the market growth of the cassia gum.
Figure 3. Global Cassia Gum Market, Revenue Share (%), By Application, in 2019
On the basis of application, food & beverages dominated the global cassia gum market in 2019 with around 71% of market share in terms of revenue, followed by manufacturing industry.
Global Cassia gum Market - Impact of Coronavirus (Covid-19) Pandemic
The demand for meat, dairy, and aquaculture products has witnessed a rise during coronavirus (Covid-19) pandemic amidst the coronavirus pandemic. 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 impact on consumers spending will dampen the demand for Global Cassia gum market during 2020-2021.
Key players are operating in the global ion exchange resins 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