Gum Fiber Market Size By Product (Gum Arabic, Guar Gum, Locust Bean Gum, Others), By Application (Food [Frozen Foods, Confectionary, Beverages, Dairy], Oil & Gas, Mining & Construction, Textile, Pharmaceutical, Personal Care & Cosmetics), COVID-19 Impact

Gum Fiber Market Size By Product (Gum Arabic, Guar Gum, Locust Bean Gum, Others), By Application (Food [Frozen Foods, Confectionary, Beverages, Dairy], Oil & Gas, Mining & Construction, Textile, Pharmaceutical, Personal Care & Cosmetics), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 - 2032

Gum Fiber Market is set to witness massive growth between 2023 and 2032, primarily attributing to the rapid expansion of the oil and gas sector in the Middle East and North America regions. For instance, Saudi Arabia Ministry of Finance claimed that its revenue from oil increased by 75% in 2022.

Overall, the gum fiber market has been segmented in terms of product, application, and region.

On the basis of product, the gum fiber market is likely to be characterized by the locust bean gum segment, which will grow at more than 7.5% CAGR throughout 2023-2032. Since locust bean gums are used as a thickener in a range of food products, and by pharmaceutical companies to produce injectable systems and gels, their demand will increase with the rapid expansion of the pharma industry and food manufacturing units. Besides, they are also used as a sizing agent in the textile industry.

In the context of the application, the market will be driven by the food segment which comprises frozen food, confectionery, beverages, and dairy. Since gum fibers (especially guar gums) are widely used in the food manufacturing industry, owing to their applicability as thickeners, emulsifiers, and stabilizers, these are increasingly adapted in the food manufacturing industry. Besides, favorable government initiatives regarding the recognition of gum fibers will also influence the market expansion. For instance, in January 2022, it was reported that the FDA plans to recognize gum Arabic as a dietary fiber, based on its nutritional composition.

In the regional context, the Europe gum fiber market will grow at 7.5% CAGR over 2023-2032. The regional market growth can be attributed to the increasing adaptation of gum fibers by cosmetics manufacturing firms for the production of creams, toothpaste, and lotions. The growing product deployment can be credited to its certain thickening properties. Besides, the concept of dental hygiene is also rising among the general populace of Europe, which will foster the demand for products like toothpaste, which in turn will fuel the market demand for gum fibers.

In addition, low-calorie and low-fat food items are becoming increasingly popular in Europe. It has also been proven that guar gum reduces cholesterol, controls diabetes, and maintains bowel movement. Such medicinal properties associated with gum fibers will also drive the market during the next decade.