According to a new report, published by KBV research, The Global Gelatin Substitutes Market size is expected to reach $3.2 billion by 2028, rising at a market growth of 6.3% CAGR during the forecast period.
The Guar Gum segment is showcasing a CAGR of 7.1% during (2022 - 2028). It is an agrochemical that has numerous uses in the processing of food. The increased usage of guar gum in the pharmaceutical industry is also attributed to its positive effects on health, including the management of obesity, bowel movements, diabetes, and heart disorders through lowering high blood pressure and cholesterol. During the forecast period, it is expected that these factors will support the segment's expansion.
The Food & Beverage segment acquired maximum revenue share in the Global Gelatin Substitutes Market by Application in 2021 thereby, achieving a market value of $1.2 billion by 2028. The segment expansion is expected to be fueled by the increased demand for bakery goods, confectioneries, functional foods, and desserts. Due to the product's superior heat resistance and stabilizing qualities, the bakery and confectionery sectors are seeing an increase in demand for it in ice creams, pie fillings, meringues, and other sweets.
The Stabilizing segment has shown the growth rate of 6.7% during (2022 - 2028). In order to boost shelf life and viscosity by preventing ice crystallization while being stored, stabilizers, including pectin, guar gums, agar-agar, and xanthan gums, are frequently employed in food and beverage applications. These are also utilized as stabilizers in personal care and cosmetic products, such as creams, lotions, and toothpaste, to promote stability and uniformity. As the demand for these products increases, it will propel the demand for stabilizing agents more and would ensure the growth of the segment.
The North America market dominated the Global Gelatin Substitutes Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.1 billion by 2028. The Europe market is exhibiting a CAGR of 6.1% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 6.9% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/gelatin-substitutes-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of NOW Foods, Inc., Cargill, Incorporated, Gelita AG, B&V S.r.l, Agarmex, S.A. DE C.V., Java Biocolloid (Hakiki Group), Great American Spice Company, Special Ingredients Ltd, Brova Limited, and A.F. Suter and Co. Ltd.
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