Tara Gum Market size was valued as $325.3 million in 2019 and is poised to grow at a CAGR of 3.6% during the forecast period 2020-2025. Tara Gum is a hydrocolloid derived from a leguminous tree, which is found in Peru. Tara is also known as Caesalpinia Spinoza. Tara gum is a powder of the endosperm of the seeds of the Tara. Where this powder is soluble in hot water and is yellowish in color. The powder is moderately soluble in the cold water.
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.
By Application Type- Segment Analysis
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 and is poised to continue for the forecast period (2020-2025) Pharmaceuticals segment is set to grow the fastest with a CAGR of 2.8% during the forecast period 2020-2025, 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 2020-2025. 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 (2020-2025).
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By Geography – Segment Analysis
Geographically, the market is dominated by North America with a revenue share of 43% in the year 2019, owing to abundant availability of raw material required for producing Tara gum and innovative methods used by the industries. The market in Europe is poised to account for second-highest revenue share in the market, owing to high demand in food & beverage industries in countries in the region. The use of tara gum has only recently gained momentum in Asia and the Middle East and Africa and it is poised to grow rapidly in the future in the Asia Pacific.
Drivers – Tara Gum Market
Demand for Low-Cal and Low-Fat foods
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 2020-2025. The demand from the baby food segment is also set to help for the growth of the global Tara gum market.
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Challenges – Tara Gum Market
Lack of Availability
The production of Tara gum and availability of various synthetic gums in the market has not reached the demand and this is a key factor restraining the growth of the global tara gum market over the forecast period (2020-2025).
Tara Gum industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Tara Gum Market. Key companies of this market are Argos Peru SA, TIG corporation, Gomas y Taninos, Molinos Asociados S.A.C., KALYS, and Priya International.
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.
Geographically, Tara Gum Market share is high in North America in 2019, owing to the presence of various manufacturers in the region.
Increasing demand for the Tara gum market in beverages as thickeners, gelling agents, and stabilizers and in cosmetics to produce skincare products are important factors expected to support the growth of the market.
The rising focus on research and development coupled with the briskly escalating demand for Tara gum in the worldwide F&B industry is set to increase Tara gum demand.
Related Reports :
A. Guar Gum Market
B. Carrageenan Gum Market
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