Locust Bean Gum Market Size 2021 | Is Projected to Reach USD 40 MN With 5.6% CAGR by 2027

The locust bean gum market generated revenue of around USD 17 million in 2020 and anticipated to grow at a CAGR of over 5.6% during the forecast period from 2021 to 2027 to reach around USD 40 million in 2027.
By: Credence Research
SAN JOSE, Calif. - May 3, 2021 - PRLog -- Locust Bean Gum also named carob bean gum, is extracted from seeds of Ceratonia Siliqua. It has high molecular weight and high resemblance to guar gum. Unlike other hydrocolloids, it is partially soluble in water and with the addition of heat, dissolves fully in water above 80°C .

Key Trends in Global Locust Bean Gum Market

High Demand in Food & Beverage Industry

In the food and beverage industry, locust bean gum is commonly used as a thickening, stabilizing, and gelling agent, as well as an emulsifier. The emulsifier code E410 is used to identify locust bean gum all over the world. It is also a good water binder, which helps to avoid the issue of syneresis in food.

The gels produced with LBG are used in the manufacture of processed cheese, pet foods, cream cheese, and desserts. Locust Bean Gum prevents the development of ice crystals, making it useful in the production of ice cream as a stabilizing agent to keep the ice cream from melting too quickly.

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Impact of COVID 19 on Locust Bean Gum Market

In 2020, harvest season which started from September remained on average level. However, it didn't prevent seed and Carob pods prices. Further increase in rates can be seen for raw material LBG.

The key driving factor for high prices is pod and seed price. Additionally, these are considered as natural product and pose specific characteristics which have boosted its demand in the market.

Global Locust Bean Gum Market by Type Insights

Pale Gold Type, Copper Type, Rich Gold Type and Rich Pale Gold Type are some of the major types Locust Bean Gum. Rich Gold Type acquired highest share in 2020 and likely to remain in the forecast period.

Read more with COVID19 impact analysis:

Robson Tolson
Tags:Locust Bean Gum Market
Location:San Jose - California - United States
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