by Gellan gum is a high-molecular-weight extracellular polysaccharide that is produced by the fermentation of the microorganism Sphingomonas elodea. Gellan gum has wide application in various food products such as dairy products, desserts, soups, sauces, pet foods, and as a stabilizing agent. It provides desirable textural properties to the foods and helps in water retention.
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 Dynamics
The wide application scope of gellan gum in various food products is expected to drive the global gellan gum market growth over the forecast period. Gellan gum is used as a stabilizer, thickening agent, and gelling agent in various dairy products like yogurt and ice cream to give a smooth texture. It is also used in bakery products, desserts, sauces, soups for its gelling and stabilizing properties. Growing demand for convenience and packaged food and beverages across the globe is fueling the demand for gellan gum. Changing lifestyle and hectic schedules have increased the consumption of packaged and convenience food which in turn is boosting the gellan gum market growth.
Another driver for the market growth is growth of the personal care and cosmetic industry. Gellan gum finds application in cosmetics and personal care products as an emulsifier and thickening agent. It is used in formulations like creams, gels, and oils. Expanding personal care industry globally is positively impacting the market growth of gellan gum over the forecast period.
Segment Analysis
The gellan gum market is segmented by function into stabilizer, gelling agent and thickener. The thickener segment dominates the market and holds around 40% share due to wider application in several food and beverages for providing thickness and stabilization properties. It acts as an effective thickening agent and widely used in sauces, soups, salad dressings, dairy products and others.
PEST Analysis
Political: The government regulations regarding usage of additives and stabilizers in food and beverages impact the market.
Economic: Rise in disposable income increases expenditures on packaged food and beverages which drives the demand for thickeners and stabilizers like gellan gum.
Social: Changing lifestyle and busy schedule increase demand for convenience food which requires additives like gellan gum for desired texture.
Technological: Advanced production techniques help manufacturers reduce production costs and develop new application of gellan gum in food processing industry.
Key Takeaways
The global gellan gum market is expected to witness high growth. 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.
North America dominates the global gellan gum market owing to widened application in food and beverages industry in the region. Asia Pacific is the fastest growing market for gellan gum due to rising economies like India and China with increasing expenditures on packaged food.
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, Telstra Corporation Limited, Tata Communications Limited. Among them, CP Kelco is a prominent manufacturer and supplier of gellan gum globally.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
