Global Tara Gum Market: Overview
Caesalpinia spinosa, which is also known as Tara, is a leguminous tree that is widely found in Peru. Tara gum, which is derived from this tree, finds common usage as a natural food additive. The substance is procured by finely grinding to a powder the endosperm of Caesalpinia spinosa seeds. Thus, tara gum is a powder characterized by white to yellowish color and solubility in hot water. The powder is also soluble in cold water, but only moderately. Chemically, tara gum is composed of polysaccharides. The polysaccharides contained in tara gum have a high galactomannan content.
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 demand for tara gum has risen rapidly over the years in the food industry, especially in low-fat and low-calorie beverages and foods. It has become a popular ingredient in blends as well. Besides these applications, the ingredient is also used in making ice cream, cheese, bakery products, sauces and dressings, desserts, yogurt, baby food, and ready soups. All of these varied uses of tara gum will are helping to make it an important ingredient in the F&B industry, which has grown at a significant pace in recent years. Growth will also be fostered by the increasing usage of tara gum in the bakery and confectionary sector.
Global Tara Gum Market: Segmentation
The worldwide market for tara gum can be broadly segmented basis applications into the following segments: sauces and condiments (ketchup and mayonnaise, salad dressings, and bakery, which is further segmented into cakes and pastries), processed fruit and vegetables, and dairy. The global tara gum market is likewise segmented basis F&B applications to include the following segments: liquid milk, frozen desserts, water-based flavored drinks, prepared dishes, mixed foods, and sauces and condiments. The cosmetic industry is also an application segment of the tara gum market.
Global Tara Gum Market: Drivers and Opportunities
The heightened demand for low-cal and low-fat foods is helping intensify the demand for tara gum in every major national market. Another market dynamic that will work in favor of the global tara gum market is the rising guar gum prices, which has created a favorable environment for the global tara gum market. Tara gum has widely been accepted as a close substitute of guar gum. In addition to this factor, the briskly escalating demand for tara gum in the worldwide F&B industry will foster tara gum demand, thus bolstering this market’s growth over the forecast period. The demand from the baby food segment will also augur well for the growth of the global tara gum market.
Global Tara Gum Market: Regional Outlook
Geographically, the market can be segmented into: Japan, Asia-Pacific region, North America, Western and Eastern Europe, Latin America, Middle East and Africa. The report finds that Latin America accounted for the largest share in this market on account of the abundant availability of raw material required for producing tara gum. The use of tara gum has only recently gained momentum in Asia and the Middle East and Africa. It is expected to grow rapidly in the futurein APAC.
Key players identified in the global tara gum market are: Argos Peru SA, TIG corporation, Gomas y Taninos, Molinos Asociados S.A.C., KALYS, and Priya International. These companies are shifting their focus on developing economies to capitalize on the higher opportunities here.
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
- 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.