Locust bean gum market has been
witnessing significant growth over the past few years on account increasing
demand form end-use industries including foods, paper and textiles, and this
trend is expected to continue over the next seven years. Locust bean gum has
wide applications in textile industry as a sizing agent to enhance the
handleability and bonding characteristics between resin systems. Locust bean
gum has been replacing guar gum applications in food & beverage industry
owing to its low price, which is expected to be the key driving factor for
market’s future growth. Increasing application scope of locust bean gum in oil
drilling fluids, pharmaceuticals and cosmetics is anticipated to have positive
impact on market growth over the next seven years. However, low prices result
in heavy losses to locust bean gum growers worldwide. This is anticipated to
result in future supply issues, which in turn is expected to hamper market
growth over the forecast period. In addition, carob trees are mainly present in
Mediterranean regions, where frost causes damage to the fruits of carob trees
resulting in fewer yields in winter season. Fluctuation of LBG prices between
seasons is also anticipated to restrain market growth.
Locust bean gum is used for
various functions such as thickening, fat replicators, stabilizations, gelling,
coating, texturants and sizing agents in various industries. Locust bean gum
has applications in confectionery, bakery, dairy products, pharmaceutical
excipients, fiber adhesion, meat & meat products, food & beverage
products and sauces, condiments & dressing.
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Based on end-use industries,
locust bean gum market can be segmented into food & beverages, textile,
pharmaceuticals, paper, oil drilling fluids and cosmetics. Food & beverage
industry emerged as the largest end-use segment for locust bean gum market
owing to widespread application base in this industry. Food & beverage
industry is expected to remain the largest end-use segment over the forecast
period on account of increasing locust bean gum application as thickening,
stabilizing, texturizing, gelling, and fat replicating agent in various food
& beverage products. Increasing application scope of locust bean gum in ice
creams, pet foods, and baby foods is the key factor to trigger the market
growth in this segment. Paper industry was the second major industry for the
market owing to its superior properties used in improving physical
characteristics of paper. However, paper industry has been losing its market
share owing to replacement of locust bean gum with other conventional material.
Textile industry has been witnessing considerable growth owing to strong demand
for locust bean gum as sizing agent. Other industries including pharmaceutical
and cosmetics are expected to witness considerable growth in near future.
Europe was the largest market for
locust bean gum in 2013. Within Europe, U.K. was the largest importer for
locust bean gum followed by Germany, owing to strong demand from end-use
industries present in these regions. Asia pacific was the second largest market
for locust bean gum owing to increasing demand from food & beverages
industries in China, India, and Japan. However, North America has been losing
market share over the past few years on account of prevailing high prices of
locust bean gum.
Key player in locust bean gum
market include Scalzo Food Industries, LBG Sicilia ingredients, G Araouzos
& Son, Gum Technology Corporation, Ceamsa, TIC Gums Incorporation, CP
Kelco, FMC Specialty Chemicals, Fiberstar Inc., Kerry Group and Cargill.
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