Locust Bean Gum Market Size, Share, Growth and Industry Analysis by Type (Powder, Particles, And, Flat Sheet) By Application (Paper, Textile Sizing, Industrial Applications, and, Food) Regional Forecast To 2032

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LOCUST BEAN GUM MARKET REPORT OVERVIEW

The global Locust Bean Gum Market size was USD 262.8 million in 2022 and the market is projected to touch USD 358.2 million by 2032, exhibiting a CAGR of 3.1% during the forecast period.

Locust bean gum is an ingredient obtained from seeds of carob tree, which is used as thickening and stabilizing agent in food processing. With rich fiber content, it has the ability to improve the mouth feel of different products such as ice cream, dairy and bakery items. Other than using it in the preparation of food, the substance has uses in cosmetics and in the production of drugs because of its ability to emulsify.

COVID-19 impact: Volatile Demand and Supply Chain Disruptions during Pandemic Decreased Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Disruption in supply chain and volatile demand in the locust bean gum market during the pandemic greatly impacted the market. Restrictions in the movement of people, including through lockdowns disrupted the supply chain by causing delays in the procurement of raw materials to manufacture products for distribution. At the same time, consumers’ changing attitudes to their health and the growing trend towards companies providing clean label ingredients such as locust bean gum fared well in foods. But times were not always good; fluctuations in the international market and volatility in the economy brought some difficulties, particularly to regard to the pricing and the accessibility of the products. This was further brought out by the current pandemic situation where industries required more robust supply chains.

LATEST TRENDS

"Refinement of Extraction Techniques to Accelerate Market Growth"

New improvements of locust been gum in the recent past are in terms of their functions and more sustainability. Scientists are working toward refining the extraction techniques in order to increase both yield and purity and make the extraction method more suitable for application in the food industry. Other innovations include co-products of locust bean gum with other natural gums in order to have synergistic effect and enhanced textural stability in many products such as plant based on dairy products. Also, further improvement in farming techniques of the products is being researched to create a more sustainable supply chain since there is an increasing demand for products with sustainable sources. These trends are driving the locust bean gum market growth.

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LOCUST BEAN GUM MARKET SEGMENTATION

By Type

Powder, particles, and, flat sheet

• Powder: Is a derivative of locust bean which is very useful as a thickening and stabilizing agent since it is available in the form of powder that dissolves easily in liquids that is used in the production of foods. It is another common ingredient which is usually added into dairy substitutes, in sauces, and baked foods because of its fine texture.

• Particles: It should also be noted that locust bean gum forms particles of granular structure: therefore, they can controlled release or slow dissolving products like pharmaceuticals and certain food items.

• Flat Sheet: Flat sheet locust bean gum is employed in packaging and edible films thereby making it a natural substitute for conservation trays and foils when processing foods.

By Application

Paper, textile sizing, industrial applications, and, food

• Paper: LBG can be applied in the paper industry where it serves as a natural binder and can also be used as a coating to strengthen, smoothen and improve the printability of the paper.

• Textile Sizing: In textiles, locust bean gum is used as a sizing agent, and helps make yarns stronger and better during weaving because of the shield that covers them.

• Industrial Applications: Locust bean gum has numerous commercial applications; it acts as a thickener in the drilling fluids and stabilizes in adhesives due to its natural properties such as viscosity and ability to bind.

• Food: In food processing, it is used as a thickener and stabilizer, it is used in ice cream, sauces and dairy products such as frozen products including ice cream.

DRIVING FACTORS

"Natural and Organic Features of Locust Bean Gum to Propel Market Growth"

Locust bean gum is in demand because it is natural and organic and is in line with the emerging trend of healthy and lean food. This property makes it to be consistently used worldwide in food and beverages as a thickening, stabilizing and gelling agent. Further, the growing trends in the consumption of plant-based and gluten-free products have boosted its application as a replicate to chemicals. The continued development of its uses in the pharma and cosmetics fields, in addition to further applications in industry, a continuing process of development and the search for sustainable sources of raw materials contribute toward demand. All of the above-mentioned factors are driving the locust bean gum market share.

"Compatibility of These Gums with Other Natural Gums to Propel Market Growth "

Other driving factors for locust bean gum are functional and consist of; longer shelf life and improvements in processed foods. Its usage also increases with the shift towards organic and non-GMO products as it can be labeled as clean-label. Besides, their compatibility with other natural gums and its function as a safe fat and sugar replacer for low calorie foods also makes locust bean gum valuable. The rising consumer concern towards utilization of effective methods that can minimize wastes especially in the food sector and pressure towards adoption of sustainable farming practice have added to the demand for locust bean gum in food and other related industries.

RESTRAINING FACTOR

"Fluctuating Prices of Raw Materials to Decrease Market Growth"

Disadvantages of the locust bean gum market are the fluctuating prices of raw materials since carob trees are not grown in a stable manner hence affecting the supply. Dependence on certain areas also bears risks in regards to climate and issues affecting agriculture. Also, guar gum and xanthenes gum are the other hydrocolloids that can be used; this competition may hold down the market’s growth. Governing policies, along with the high amount of processing that is often required, make production even more costly, leaving it as unattractive for some manufacturers as a search for efficient solutions for production.

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LOCUST BEAN GUM MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa

"Europe to Dominate Market Share Due to Suitable Climatic Conditions"

The major producer of locust bean gum is the European region which comprises Spain, Italy and Morocco due to its suitable climatic conditions for the growth of carob tree. Spain stands as the largest producer and exporter since culture carob tree and it has the best processing factories. The region benefits from high growth conditions, has skills in carob harvesting and gum extraction which makes it occupy a leading position in the world market. Another advantage is the nearness to the European markets that enable it to supply natural food ingredients demand in the region.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market. This report provides a detailed view on how the industries implement these strategies

List of Market Players Profiled

• INCOM A.S (Turkey)
• Carob SA (Spain)
• Nepa Trital (Greece)
• LBG SICILIA SRL (Italy)
• Tate & Lyle (UK)
• PEDRO PEREZ MARTINEZ S L U (Spain)

INDUSTRIAL DEVELOPMENT

May 2022: One of the significant transformation experiences that transpired in the locust bean gum market in 2022 was the introduction into the market by a popular food manufacturing firm of a dairy product. This product used locust bean gum and other natural hydrocolloids to get the nice creamy texture and mouth feel of this customary dairy. The idea was to improve the solidity and standard deviation of plant-based yogurts and drinks to make the greatest impact on consumers’ satisfaction. This development was showcasing the multi-functionality of locust bean gum and the increased application in plant protein products segment.

Report Coverage

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.