Tara Gum Market is Segmented By Type (Low viscosity tara gum, Medium viscosity tara gum, High viscosity tara gum), By Application (Food & Beverages, Pharmaceuticals, Personal Care, Animal Feed, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Report Overview
The Global "Tara Gum Market" is Predicted to reach at a high CAGR during the forecast period (2024-2031)
Tara gum is a natural additive made from the endosperm of Caesalpinia Spinosa seeds, which belong to the Leguminosae family. Tara gum, commonly known as Peruvian carob, is a white to yellowish powder that is slightly soluble in cold water and soluble in hot water. Tara gum is in high demand now that the Food Chemical Codex has certified it as a food ingredient. It's a natural element found in ice cream, cheese, bakery items, sauces and dressings, sweets, yogurt, baby food, and ready-to-eat soups. Tara gum has long been considered and approved as a guar gum alternative.
Source: DataM Intelligence Analysis (2022)
Market Dynamics
Increasing demand for low calorie and low-fat foods
Tara gum is in high demand in every major regional market due to the increased demand for low-calorie and low-fat meals. Tara gum is commonly used as a near alternative for guar gum. In addition, the rapidly increasing need for tara gum in the global F&B industry would support tara gum demand, boosting the market's growth over the forecast period. Consumer concerns about eating a healthy diet to avoid disease are boosting demand for tara gum, which is used in the food industry to make low-calorie foods and propels the worldwide tara gum market forward. Tara gums are widely employed in fat replacement systems, appealing to food companies. Due to the increasing use of natural substances in cosmetic goods, these natural additions are used in cosmetic applications.
The important element responsible for the market's growth is the rising prices of guar gum, as the latter has been regarded as a worthwhile substitute for guar gum, creating a favorable environment for the market's expansion. Tara gum is in high demand due to the growing desire for low-fat and low-calorie foods worldwide. It has been observed that growing guar gum prices are a primary driver driving the worldwide tara gum industry since it has been accepted as a possible guar gum substitute. Apart from that, rising demand for tara gum in the food and beverage industry is expected to fuel demand for tara gum and propel the worldwide tara gum market forward.
Market Segmentation Analysis
Food industry is expected to dominate the market in 2022
The food industry has been dominating demand for tara gum over the past few years owing to its numerous applications in the manufacturing of low fat and low-calorie foods. It is also anticipated to be the fastest-growing sector over the forecast period, giving rise to demand for tara gum. It is used in many food and beverage applications including water-based flavored drinks, liquid milk, frozen dairy desserts, bread and bakery, mixed foods, prepared dishes, sauces, and condiments. Because of its extensive applications in the creation of low fat and low-calorie goods, the food industry has dominated demand for tara gum in recent years. Water-based flavoured drinks, liquid milk, frozen dairy desserts, bread and bakery, mixed foods, prepared entrees, sauces, and condiments are only a few of the applications.
Personal care industry held significant share of XX% in the year 2021. In the personal care industry, tara gums are used for their functional characteristics owing to lack of availability of synthetic substitutes. The end product is high in vitamins C and B, as well as complex carbohydrates. As a result, tara gum is known for its moisturizing and protecting properties, making it more than just a thickening agent — it can really improve the efficacy of a product playing a important role in personal care sector.
Market Geographical Share
Asia Pacific is expected to be the fastest growing region during the forecast period
Asia Pacific is predicted to be the most rapidly increasing market. Demand for tara gum is predicted to increase in the future as a result of rapid economic development, increased need for natural-based medications, and increased demand for low-fat food products. To obtain market share in these available markets, key tara gum market players in the cosmetics industry are concentrating their efforts in Asia Pacific. Because of demand in the food and beverage industries, the market in North America is predicted to account for the second-largest revenue share.
Source: DataM Intelligence Analysis (2022)
Market Companies and Competitive Landscape
The global tara gum market is fragmented. The global tara gum market is competitive and comprises numerous regional and international competitors. Players are also extensively focusing on providing consumers with innovative offerings while including functional benefits in their products. Furthermore, while engaging the consumers with innovation and expansion strategies, key players capitalize on the market revenue. Tic Pretested® Tara Gum 100 was developed when Ingredion purchased TIC Gums and Sun Flour Industry Co in 2017. When combined with other hydrocolloids, it can give jams and jellies soft and stable gel structures. It can help stabilize cream cheeses and avoid the production of crystals in ice creams. Soups and sauces can benefit from their thickness and creamy mouthfeel.
COVID-19 Impact: Negative impact on the Tara gum market
The novel coronavirus outbreak impacted supply chains all around the world, resulting in decreasing packaged food and beverage consumption. Although demand for product delivery to the home increased, the market for outside food consumption declined more, affecting manufacturer earnings. Inadvertent reduction in food and beverage production could negatively impact tara gum demand. The pharmaceutical industry witnessed a considerable change in demand, research and development focus, approval delays, another short-term impacts which may have affected tara gum market growth. However, in addition to consumption from various applications, consistent growth in chronic illnesses and incessant demand for pharmaceuticals will support the demand for tara gum in the coming years.
Why Purchase the Report?
- Understand the current market scenario and viability of global tara gum market over the forecast period
- Visualize the composition of the global tara gum market in terms of type, and application to identify major players, growth potential, and market strategies
- Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period
- Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market
What we offer?
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
- Excel data sheet with valuable data points of the global tara gum market – Regional and Country level segmentation
- Product mapping in excel for the key products of all major market players
- Market Share Analysis covering business revenues ($) and revenue share (%) of key market players
The global tara gum market report would provide an access to approximately 45 market data tables, 45 figures and 180 pages
Target Audience
- Food and Beverage Companies
- Pharmaceutical Industry
- Cosmetics Manufacturers
- Industry Investors
- Education & Research Institutes
- Research Professionals
