India Gum Arabic Market Shipment Analysis
India Gum Arabic Market registered a growth of 0.38% in value shipments in 2022 as compared to 2021 and a decrease of -0.76% CAGR in 2022 over a period of 2017. In Gum Arabic Market India is becoming less competitive as HHI index in 2022 was 2890 while in 2017 it was 2536. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market. India has reportedly relied more on imports to meet its growing demand in Gum Arabic Market.
India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Gum Arabic Market in 2022 was 6.11 while in 2017 it was 9.56. Sudan, Mali, Senegal, France and Chad were among the top players of the market in 2022, where Sudan acquired the largest market share of 45.29% with a shipment value of 12.89 million USD in 2022 Sudan also offered the product above the average market price, but remained at the leadership position indicating the trust it holds in the Gum Arabic Market. In 2017 Sudan had the largest market share of 36.3% with the shipment value of 10.78 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As Sudanprice is lower than the average price, it provided a significant edge among other competitor in 2017.
India Gum Arabic Market Synopsis
India gum arabic market was worth US$ 4.8 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 8.8% during the forecast period 2021-2026, thus reaching US$ 7.3 million by 2026. The market is primarily driven by increasing demand for confectionery products and pharmaceuticals among consumers across India.
Market Drivers of the market
The India gum arabic market is witnessing growth primarily driven by the expanding food and beverage sector. Gum arabic, also known as acacia gum, is extensively used as an emulsifier and stabilizer in the food industry, particularly in beverages, confectionery, and bakery products. The increasing demand for natural and clean-label ingredients is further boosting the adoption of gum arabic as it is a plant-based additive. Additionally, the rising awareness about the health benefits of gum arabic, such as its prebiotic properties, is contributing to its market growth.
Challenges of the Market
Gum Arabic is widely used as a thickening and stabilizing agent in the food and beverage industry. The India gum arabic market has experienced growth, but it faces challenges concerning the sourcing of raw gum arabic from specific acacia tree species, which can be influenced by environmental factors and geopolitical issues in the regions of production. Additionally, fluctuating prices and variations in gum arabic quality create uncertainties for manufacturers and end-users.
Covid-19 Impact on the Market
The gum arabic market in India has seen moderate growth due to its applications in the food, pharmaceutical, and cosmetic industries. Gum arabic, also known as acacia gum, is used as a thickening agent and emulsifier in various products. The market faced challenges during the Covid-19 pandemic as disruptions in the supply chain and reduced economic activity impacted its demand from different industries.
Key Players of the Market
Gum arabic has found extensive application in the food and beverage industry, leading to a surge in demand in India. Key players in the India gum arabic market are involved in sourcing and processing gum arabic for commercial use. Some of the significant players in the India gum arabic market are GumSource, ArabicaGum Co., AcaciaExtracts, and GumHub India.
Key Highlights of the Report:
- India Gum Arabic Market Outlook
- Market Size of India Gum Arabic Market, 2021
- Forecast of India Gum Arabic Market, 2028
- Historical Data and Forecast of India Gum Arabic Revenues & Volume for the Period 2018 - 2028
- India Gum Arabic Market Trend Evolution
- India Gum Arabic Market Drivers and Challenges
- India Gum Arabic Price Trends
- India Gum Arabic Porter's Five Forces
- India Gum Arabic Industry Life Cycle
- Historical Data and Forecast of India Gum Arabic Market Revenues & Volume By Type for the Period 2018 - 2028
- Historical Data and Forecast of India Gum Arabic Market Revenues & Volume By Senegalia for the Period 2018 - 2028
- Historical Data and Forecast of India Gum Arabic Market Revenues & Volume By Senegal for the Period 2018 - 2028
- Historical Data and Forecast of India Gum Arabic Market Revenues & Volume By Vachellia for the Period 2018 - 2028
- Historical Data and Forecast of India Gum Arabic Market Revenues & Volume By Seyal for the Period 2018 - 2028
- Historical Data and Forecast of India Gum Arabic Market Revenues & Volume By Function for the Period 2018 - 2028
- Historical Data and Forecast of India Gum Arabic Market Revenues & Volume By Thickeners for the Period 2018 - 2028
- Historical Data and Forecast of India Gum Arabic Market Revenues & Volume By Stabilizers for the Period 2018 - 2028
- Historical Data and Forecast of India Gum Arabic Market Revenues & Volume By Gelling Agent for the Period 2018 - 2028
- Historical Data and Forecast of India Gum Arabic Market Revenues & Volume By others for the Period 2018 - 2028
- Historical Data and Forecast of India Gum Arabic Market Revenues & Volume By Application for the Period 2018 - 2028
- Historical Data and Forecast of India Gum Arabic Market Revenues & Volume By Food & Beverages for the Period 2018 - 2028
- Historical Data and Forecast of India Gum Arabic Market Revenues & Volume By Pharmaceuticals & Nutraceuticals for the Period 2018 - 2028
- Historical Data and Forecast of India Gum Arabic Market Revenues & Volume By Personal Care for the Period 2018 - 2028
- Historical Data and Forecast of India Gum Arabic Market Revenues & Volume By others for the Period 2018 - 2028
- India Gum Arabic Import Export Trade Statistics
- Market Opportunity Assessment By Type
- Market Opportunity Assessment By Function
- Market Opportunity Assessment By Application
- India Gum Arabic Top Companies Market Share
- India Gum Arabic Competitive Benchmarking By Technical and Operational Parameters
- India Gum Arabic Company Profiles
- India Gum Arabic Key Strategic Recommendations
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