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Locust bean gum is cost effective food additive that is used across different application of food in order to meet consumers demand. It is used as a gelling agent, thickener, stabilizers and fat replicators in food technology. Moreover it can be used as a chocolate substitute owing to its sweet flavor. The global locust bean gum market can be segmented on the basis of application, function and geography. The application segment is further bifurcated into food and beverages, pharmaceutical, textile, cosmetics and others. The function segment includes stabilizing function, texturing function, and coating function among others. In addition, the report provides a cross-sectional analysis of all the above segments with respect to different geographical regions including North America, Europe, Asia Pacific and Rest of the World (RoW).

Locust bean gum is replacing the application of guar gum in food and beverage industries due to its low price. This is expected to be the key factor boosting the growth of locust bean gum market globally. Moreover, increasing demand for convenience food also fuelling the demand for locust bean gum. Busy lifestyle and changing eating patterns are driving the growth of convenience food products which in turn is escalating the demand of locust bean gum on account of its increasing application as a thickener and gelling agent. In addition, the global locust bean gum market is expected to show a robust growth owing to the increasing demand for low cholesterol food products by health conscious customers. Locust bean gum has the ability to suppress the fat content of food products by dispersing in the water and acts as a fat replacer.

However the low price of the locust bean gum fetches very less profit to the locust bean growers worldwide. This is predicted to hamper the future supply of locust bean. Imbalance between demand and supply due to shortage of resources is expected to hinder the growth of global locust bean gum market. Moreover, Carob tree which is the main source of locust bean are mainly grown in Mediterranean region. During winter, frost in this region mostly damages the fruits of Carob trees which results in fewer yields of locust beans. Owing to this, the prices of locust bean gum considerable fluctuate, thus limiting industries to switch to locust bean gum.
In 2014, among the different application segment the food and beverage segment held the largest share in terms of locust bean gum market. Increasing application of locust bean gum in food and beverage industry as a fat replicators and stabilizer is expected to trigger the growth of locust bean gum in food and beverage segment.

Food and beverage industry is followed by textile industry. Use of locust bean gum is rapidly increasing in textile industry as print paste thickener and sizing agent.
Geographically, Europe held the largest market for locust bean gum in 2014. Among Europe, UK followed by Germany is the largest importer of locust bean gum owing to the high demand of from different application segment. Europe is followed by Asia Pacific region. The locust bean gum market is Asia Pacific region is primarily driven by China followed by India. Huge customer base in Asia Pacific region owing to increasing population coupled with rising disposable income provides better scope for food and beverage industries. This in turn is driving the global locust bean gum market. On the other hand North America is losing its market share due to high price of locust bean gum.

Some of the major key players in the global locust been gum market are Cargill, Kerry group, FMC Specialty Chemicals, Gum Technology Corporation and E.I. Dupont De Nemours & Company.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Locust Bean Gum Market