by 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 12. % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Gellan gum is a high molecular weight extracellular polysaccharide produced by the microorganism pseudomonas elodea. It is used as a vegetarian gelling agent and stabilizer in food products. Gellan gum forms clear, strong gels with a wide range of applications in Food & Beverages industry such as dairy products, bakery, confectionery, meat & poultry products etc. It helps in maintaining the texture and stability of food products. It is also used in pharmaceuticals as a thickening and suspending agent in medications.
Market key trends:
One of the major trends in the Gellan gum market is its increasing usage in various food applications such as dairy alternatives. Rising vegan population is fueling the demand for plant-based milk alternatives such as almond milk, soy milk etc. Gellan gum helps in providing a creamy texture in these non-dairy beverages. It is also used as a replacement for egg in vegan baked goods. Growing awareness about health benefits of plant-based diets is propelling the growth of vegan food industry worldwide. This in turn is positively impacting the consumption of gellan gum.
Porter’s Analysis:
Threat of new entrants: The threat is moderate as the gellan gum industry requires high capital investments for research and production facilities. However, the growing market demand represents opportunities for new players.
Bargaining power of buyers: The bargaining power is moderate to high as buyers can switch between gellan gum manufacturers easily based on price and quality.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as the raw materials required for gellan gum production are commoditized and available from multiple sources globally.
Threat of new substitutes: The threat is low as gellan gum has unique properties and applications in food and pharmaceutical industries. No direct substitutes are available currently.
Competitive rivalry: High as the industry players compete based on product quality, consistency, price, reliability of supply and innovation.
Key Takeaways:
The Global Gellan Gum Market Size is expected to witness high growth, exhibiting CAGR of 12% over the forecast period, due to increasing demand from food and pharmaceutical industries. Gellan gum is widely used as a gelling agent and stabilizer in various products.
North America dominates the global gellan gum market currently. The region accounts for over 30% market share due to high demand from food processing companies. Asia Pacific exhibits fastest growth on back of expanding food manufacturing sector in China and India.
Key players operating in the gellan gum market are DSM, CP Kelco, H & A Canada Inc., Nanjing Joyfulchem Co., Ltd., Dancheng Caixin Sugar Industry Co. Ltd., Zhengzhou Cinogel Biotech Co., Ltd., Hangzhou Gellan Solutions Biotec Co., Ltd., DuPont, Hebei Xinhe Biochemical Co. Ltd, and Nutricorn Co., Limited. These players compete based on product portfolio, price, innovation and regional expansion.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
