The Tara Gum market is valued at USD 35.1 Million in 2022 and is projected to grow at a CAGR of 5.6% during the forecast period, reaching a value of USD 57.8 Million by 2032. Newly released data from Future Market Insights market analysis shows that global Tara Gum demand is projected to grow year-on-year (Y-o-Y) growth of 3.2% in 2022.
| Attributes | Details |
|---|---|
| Market Size Value in 2022 | USD 35.1 Million |
| Market Forecast Value in 2032 | USD 57.8 Million |
| Global Growth Rate (2022 to 2032) | 5.6% CAGR |
| Forecast Period | 2022 to 2032 |
| Collective Value Share: Top 3 Countries (2021A) | 42.4% |
Tara gum is a natural ingredient made by crushing the endosperm from the seeds of the Leguminosae family plant Caesalpinia Spinosa. The white to yellowish powder known as tara gum, also known as Peruvian carob, is soluble in hot water and just slightly soluble in cold water. Tara gum is a polysaccharide with a high molecular weight, primarily galactomannans. The Food Chemicals Codex has certified tara gum as a food additive, and it primarily serves as a thickening and stabilizer.
The qualities of tara gum are similar to those of guar gum and carob beans, which are widely used in various nations. Due to its use in creating low-fat and low-calorie foods, tara gum is in high demand in the food business, Blends typically contain tara gum.
Additionally, it can be found in cheese, ice cream, sauces, dressings, bakery goods, yogurt, sweets, infant food, and ready-to-eat soups. In the upcoming years, it is projected that the global tara gum market would expand significantly. Rising bread and confectionary demand will help the economy grow.
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The market grew with a CAGR of 3.7% between 2017 and 21, global demand for tara gum is rising as low-fat and low-calorie food products become more and more popular, and tara gum has been regarded as a potential replacement for guar gum, it has been observed that growing guar gum costs are the primary cause responsible for the expansion of the worldwide tara gum market.
Due to the growing need for low-fat and low-calorie meals, tara gum is in high demand in all major regional markets. Guar gum is frequently replaced with good results by tara gum. Rising guar gum prices are a crucial factor driving the growth of the global tara gum market because it has been identified as a viable guar gum substitute. In addition, the rapidly expanding need for tara gum in the global food and beverage industry is anticipated to boost tara gum demand and assist the expansion of the tara gum market.
In addition, consumer concerns about eating healthily to prevent diseases are boosting demand for tara gum, which is used by the food industry to make low-calorie products. Tara gums appeal to food makers since they are frequently utilized in fat replacement systems. Additionally, these natural additives are used in cosmetic applications because more and more cosmetic products are using natural ingredients. The global tara gum market is predicted to grow as a result of these factors.
Clean-label products are defined as products that contain fewer artificial ingredients and more natural ingredients. Claims essentially rely on complete transparency concerning the manufacturing process and the ingredients used in products. Consumers are increasingly preferring such products due to growing distrust of artificial ingredients and lax governmental regulations.
The Tara Gum has the potential to be an ideal ingredient for clean-label products. The use of grain-based flours and ingredients and flavors derived from plant-based sources ensures a strong natural claim, and also provides the underlying bakery product with a favorable aroma and structural integrity.
In addition, tara gums are used for their functional qualities in the beauty and personal care business because there are no synthetic substitutes available. Complex carbohydrates and considerable amounts of vitamins B and C are present in the final product. As a result, tara gum is much more than just a thickening agent and is recognized for its moisturizing and protecting qualities. In the cosmetic and personal care sector, it can also considerably increase a product's efficacy.
Another important factor projected to drive the global tara gum market is the use of tara gum in the animal feed industry to increase cattle and poultry growth and prevent animal illnesses. Additionally, it is anticipated that throughout the forecast period, the pharmaceutical industry's need for tara gum to make a variety of pharmaceutical supplements will encourage the growth of the worldwide tara gum market.
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Germany is anticipated to account for 32.1% of the European market's total revenue value shares by the end of 2032. Market expansion is anticipated to be fuelled by consumers' increasing adoption of a healthy lifestyle in the region and the presence of a well-established food and beverage industry.
The global tara gum market is anticipated to expand significantly throughout the forecast period, particularly in Asia Pacific countries like China and India. Over the anticipated period, the regional market is likely to be driven by rising demand for low-fat food products, high demand for natural ingredient medicines, and rising disposable income in emerging nations.
Furthermore, to gain market, share in these untapped regions, the key businesses active in the global tara gum market concentrate primarily on emerging markets.
Argos Peru SA, TIG Corporation, Molinos Asociados S.A.C., Gomas y Taninos, Priya International, and KALYS are the market's top competitors for tara gum. There are numerous worldwide and regional competitors in the extremely competitive global tara gum market. Market participants also place a lot of emphasis on offering consumers unique products that incorporate useful qualities.
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| Attribute | Details |
|---|---|
| Market Size Value in 2022 | USD 35.1 Million |
| Market Forecast Value in 2032 | USD 57.8 Million |
| Global Growth Rate | 5.1% CAGR |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | MT for Volume and USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; and Middle East & Africa (MEA) |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Argentina, Chile, Peru, Germany, France, Italy, Spain, UK, Netherlands, Belgium, Nordic, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Central Africa, North Africa, and others |
| Key Market Segments Covered | End Use Application |
| Key Companies Profiled | TIG corporation; Argos Peru SA; Molinos Asociados S.A.C.; Gomas y Taninos S.A.C.; Priya International; Innova Export Ltd.; AgriExport SRL; KALYS; Gelymar; Silvateam; Exandal Corp; Ingredients Solutions; UNIPEKTIN INGREDIENTS; Amstel Products; IHC Chempharm; HSH Chemie; Others |
| Pricing | Available upon Request |
The Tara Gum market is estimated to reach sales of nearly USD 35.1 Million by 2022.
Tara Gum market revenue is expected to increase at a CAGR of around 5.1% during the period 2022 to 2032.
Tara Gum sales increased a CAGR of around 3.7% over the past half-decade.
The global Tara Gum market value is estimated to be around USD 35.1 Million in 2032.
The top countries driving the Tara Gum demand are the US, Germany, China, and the UK.
1. Executive Summary
2. Industry Introduction, including Taxonomy and Market Definition
3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections
5. Pricing Analysis
6. Global Market Analysis and Forecast
6.1. End Use Application
7. Global Market Analysis and Forecast, By End Use Application
7.1. Bakery
7.2. Beverages
7.3. Confectionary
7.4. Dairy
7.5. Jams
7.6. Soups
7.7. Sauces, Dressings & Condiments
7.8. Processed Food & Beverages
7.9. Infant Formula
7.10. Beauty and Personal Care
7.11. Animal Feed
7.12. Pharmaceuticals
8. Global Market Analysis and Forecast, By Region
8.1. North America
8.2. Latin America
8.3. Europe
8.4. East Asia
8.5. South Asia
8.6. Oceania
8.7. Middle East & Africa (MEA)
9. North America Sales Analysis and Forecast, by Key Segments and Countries
10. Latin America Sales Analysis and Forecast, by Key Segments and Countries
11. Europe Sales Analysis and Forecast, by Key Segments and Countries
12. East Asia Sales Analysis and Forecast, by Key Segments and Countries
13. South Asia Sales Analysis and Forecast, by Key Segments and Countries
14. Oceania Sales Analysis and Forecast, by Key Segments and Countries
15. Middle East & Africa (MEA) Sales Analysis and Forecast, by Key Segments and Countries
16. Sales Forecast by End Use Application for 30 Countries
17. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
18. Company Profile
18.1. TIG Corporation
18.2. Argos Peru SA
18.3. Molinos Asociados S.A.C.
18.4. Gomas y Taninos S.A.C.
18.5. Priya International
18.6. Innova Export Ltd.
18.7. AgriExport SRL
18.8. KALYS
18.9. Gelymar
18.10. Silvateam
18.11. Exandal Corp
18.12. Ingredients Solutions
18.13. UNIPEKTIN INGREDIENTS
18.14. Amstel Products
18.15. IHC Chempharm
18.16. HSH Chemie
18.17. Others
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Tara Gum Market
