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The global market for carob bean gum is rapidly growing due to its rising applications in the growing food and beverage industry. It is widely used as a food binder, and it helps stabilise the freezing and melting properties of food. Apart from this, the product also helps in improving the taste of the food products. Carob bean gum is gluten-free and, thus, it is extremely useful for gluten-allergic consumers, and it is often used to provide chocolate flavour to food. While carob beans do not provide a lot of nutrients, they include a significant amount of dietary fibre that promotes health. With the rising health awareness, consumers are shifting towards healthier lifestyles and diets, which is boosting the demand for healthy food products, including carob bean gum.
In November 2017, DuPont de Nemours Inc (NYSE: DD), one of the leading key players in the global market, increased their carob bean gum price to adapt to dynamic market conditions. This hike in price would allow DuPont to continue offering high-quality carob bean gum services to its customers. It will also allow a continued emphasis on quality, safety, and efficiency to deliver the most sustainable solutions to the global food industry. This step helped the company grow in the historical period and is likely to continue supporting the growth of the company in the global market by gaining the trust of the consumers.
Market Analysis by Form, Application, and Region:
The forms of the product can be divided into powder and gel.
Carob bean gum finds applications in both food and non-food products. Food products include breakfast cereals, salad dressing, meat products, breads, and dairy products, among others. Non-food products can be divided into cosmetic, paper products, shoe polish, and others.
The regional markets for carob bean gum include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Key Findings of the Report:
Key Offerings of the Report:
The major players in the global carob bean gum market are Cargill, Incorporated, DuPont de Nemours, Inc., TIC Gums, Inc., Contined B.V., and Carob S.A., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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