Europe Carob Bean Gum Marketis predicted to reach USD 82.43 million in 2024 and USD 97.98 million by 2032, growing at a CAGR of 36.5% during the forecast period.
Carob bean gum, which is commonly referred as Locust Bean Gum (LBG) is a vegetable gum that is extracted from seeds of the carob tree. After drying the seeds of carob tree, they are heated to release their natural oils and are ground up into a precipitate known as carob gum. Its powdered form is sweet with a flavor similar to chocolate and used as a substitute to chocolate and also used in cosmetics, cigarettes, and others. Carob Bean Gum is a food additive that is used as a thickening and gelling agent.The Growth of market is driven by factors like the taste enhancing and thickening properties of Carob Bean Gum, shifting manufacturer and consumer focus towards natural and customized enhances and additives over artificial enhancers. However, factors like seasonal availability of carob beans and supply-demand disparities due to shortage of resources may hamper the growth of market.
Food application is further segmented as Breakfast cereals, Salad Dressings, Meat Products, Breads, Dairy Products and Others. Non Food Applications is further segmented as Cosmetics, Paper products, Shoe polish, Textiles and Others.
U.K. holds the major share in the market due to the presence of market leaders as well as extensive use of Carob Bean Gum in the food products and food processing. Germany is the fastest-growing region due to increasing adoption rate and increasing demand for natural additives and enhancers. Based on Form, Gel form is the most widely used due to extensive use in food processing and textile industry. Based on Application, Food applications occupy the major share in the market due to its use as a thickening agent as well as a sweetener and a chocolate substitute. In the Non food applications textile industry is leading the market while cosmetic segment is expected to grow the fastest.
Key Players In Europe Carob Bean Gum Market are Scalzo Food Industries, LBG Sicilia ingredients, G Araouzos and Son, Gum Technology Corporation, Ceamsa, TIC Gums Incorporation, CP Kelco, FMC Specialty Chemicals, Fiberstar Inc, Kerry Group and Cargill.
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