Global locust bean gum market is expected to grow significantly over the forecast period owing to the increasing demand from various industries including textiles, food and paper. Increasing demand in the food industry on account of its usage as a food additive is expected to be the key driver for marker growth. Locust bean gum’s increasing use as a thickener in dairy desserts, ice cream, cream cheese and condiments is anticipated to surge the demand over the forecast period. Moreover, it is used for numerous functions including thickening, coating, stabilizations, fat replacers, sizing agents, gelling and texturants in various industries including foods & beverages and pharmaceutical, which is expected to drive market demand. Locust bean gum find application in confectionery, dairy products, food & beverage products, bakery, pharmaceutical excipients, meat & meat products, fiber adhesion and sauces, condiments and dressing. Increasing scope in pet foods, ice creams and baby foods is expected to boost the market growth over the forecast period. Furthermore, increasing consumption as a cholesterol reducing compound in growing diabetic foods is expected to augment the demand over the forecast period. Rising demand in the textile industry as a print-paste thickener and a sizing agent to provide uniformity and increase handle ability is predicted to increase the market growth over the next seven years. In addition, accelerating demand in oil drilling fluids, paper, cosmetics and pharmaceutical sector is expected to propel the market growth. However, poor harvest, lower inventories and fluctuating prices is expected to restrain the market over the forecast period. Europe is expected to grow significantly over the projected period owing to the increasing demand from food & beverage industry particularly in the UK and Germany. Asia Pacific is expected to provide immense opportunity for locust bean gum market growth owing to the rising demand from pharmaceutical and food & beverages industries particularly in China, Japan and India. However, North America is expected to have a moderate growth as a result of high prices of locust bean gum over the projected period.
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Global key players of locust bean gum include Scalzo Food Industries, LBG Sicilia Ingredients, Gum Technology Corporation, TIC Gums Incorporation, CEAMSA, CP Kelco, Fiberstar Inc., Cargill, FMC Specialty Chemicals, Tate & Lyle and Kerry Group. Tate & Lyle offers a completely natural product, Cesagum, which is a locust bean gum produced from the seeds of the carob tree. It is used as a thickener in dairy desserts, cream cheese, condiments and ice-cream without adding calories to the end product.
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