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Global Tara Gum Market InsightMarch 29, 2022 Comments
According to the WK-chem Research “Global Tara Gum Professional Survey Report 2022, Forecast to 2027”, The demand for the Tara gum as Food Chemical Codex has approved it as a food additive. It is a natural ingredient and used in making ice cream, cheese, bakery products, sauces and dressings, desserts, yogurt, baby food, and ready soups. Another driving market factor is the rise in the price of the guar gum which has given an opening to the market of the Tara gum. Tara gum has been considered and accepted as the closest substitute of the guar gum. The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 3.7% base on WK-chem Research regression analysis model.
“The heightened demand for low-cal and low-fat foods is helping to increase the demand for Tara gum in every major national market. Another factor that is adding the advantage of the global Tara gum market is the rising guar gum prices, which created a favorable environment for the global Tara gum market. Tara gum is accepted as a close substitute for guar gum. In addition to this, the escalating demand for Tara gum in the worldwide F&B industry is poised to foster Tara gum demand, thus bolstering this market’s growth over the forecast period 2022-2027. The demand from the baby food segment is also set to help for the growth of the global Tara gum market.” said Jane Jones, Senior analyst, Chemical & Material Market Research Center in WK-chem Research.
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.
In 2017, Ingredion acquired TIC Gums as well as Sun Flour Industry Co, and got Tic Pretested® Tara Gum 100. It used in combination with other hydrocolloids, can bring soft and stable gel structures to jams and jellies. In dairy, it can stabilise cream cheeses and prevent crystal formation in ice creams. It can also bring thickness and smooth creamy mouthfeel to soups and sauces.
This WK-chem Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading Tara Gum companies that include Molinos Asociados S.A.C, TIG Corporation, Argos Peru SA, Gomas y Taninos S.A.C, AgriExport SRL, Priya Multinational, Innova Export and KALYS.
Segmentation of Tara Gum Market:
By Type, the Tara Gum market can be divided into Low Viscosity Tara Gum, Medium Viscosity Tara Gum, High Viscosity Tara Gum. Among them, Low Viscosity Tara Gum occupies the main market. The use of tara gum is boosted by the fact that the Food Chemicals Codex has approved it as an additive for food products. In the food industry, tara gum is added to thicken and stabilize various products. In some regions, the tara gum is also commonly known as Peruvian carob. This is because certain properties of tara gum are close in nature to the properties displayed by carob beans as well as guar gum. Both of the latter are used extensively in various countries.
The application type of Tara Gum Market is segmented based on Food & Beverages, Pharmaceuticals, Personal Care, Animal Feeds, and others. Increase in use of Tara Gum in preparation of sauces and condiments, processed fruit and vegetables, and dairy. In addition to F&B applications like liquid milk, frozen desserts, water-based flavored drinks, prepared dishes, mixed foods, and sauces and condiments has made the Food & beverage segment occupy the largest market share. Pharmaceuticals segment is set to grow the fastest, owing to high demand from pharmaceuticals, industry for the production of various pharmaceuticals supplements is poised to drive the growth of this market over the forecast period 2022-2027. While Consumers becoming more conscious about health, the demand for healthy and all-natural food products is set to help in the growth of the market in the forecast period (2022-2027).
Tara Gum Market: Regional Analysis
In terms of geography, the global Tara Gum market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. The major share of the tara gum market was accounted for by Peru owing to high availability of raw material as well as high demand in the medicinal industry. It had been introduced to parts of Asia, the Middle East and Africa. Asia Pacific is expected to be the fastest-growing market over the next few years. Rapid economic development in these countries, increase in demand for medicines derived from natural ingredients, growing demand for low-fat food products, and augmented disposable income of consumers in these countries is expected to further escalate the demand for tara gum over the forecast period. Major players of the tara gum market operating in the cosmetic industry are primarily focus on developing countries in order to gain market share in these untapped markets. Other regions including Middle East and Africa are likely to witness substantial growth over the projected period on account of increasing awareness among consumers for naturally derived food and cosmetic products.
Largest share area：South America
Largest share country：Peru
Product Type：Low Viscosity Tara Gum, Medium Viscosity Tara Gum, High Viscosity Tara Gum
Application：Food & Beverages, Pharmaceuticals, Personal Care, Animal Feeds, and Others
Leading Company：Molinos Asociados S.A.C, TIG Corporation, Argos Peru SA, Gomas y Taninos S.A.C, AgriExport SRL