Pune, India, February 04, 2019 -- /360iResearch/ -- The report "Global Biogum Market - Premium Insight, Industry Trends, FPNV Positioning Matrix, Competitive News Feed Analysis, Company Usability Profiles, Market Sizing & Forecasts to 2024 (Q4 2018 Update)", published by 360iResearch, states that the global market was valued at USD 720.55 million in 2017 and is projected to reach USD 2,836.05 million by 2024, growing at a CAGR of 21.62% from 2017 to 2024.
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The major forces driving the growth of the biogum market include the preference towards natural, healthier and sustainable consumption and increasing growing demand for plant-based ingredients. Moreover, understanding on the benefits of biogums and increased uses in plant protein applications, drinkable yogurt, drinkable jellies, sports nutrition are also some of the factors that are driving the market growth. However certain factors such as the less expensive counterfeit products may hinder the market growth. In the middle of difficulty lies opportunity such as the new product innovation, increased demand for foods that satisfy consumers with dysphagia, and growing demand for personal care and other industrial application. The possible challenges for the market growth is pitfalls in bio-separation processes. But key players in the market are overcoming the challenges with continual improvement and innovation.
Based on type, the global biogum market is studied across Cellulose Gum, Diutam Gum, Gellan Gum, Pectin, and Xenthun Gum. Based on application, the global biogum market is studied across Chemicals, Food & Beverages, Medical & Pharmaceuticals, Oil & Petrochemicals, and Printing & Dyeing. Based on geography, the global biogum market is studied across Americas, Europe, Middle East & Africa, and Asia-Pacific.
The report features a competitive scenario of the biogum market and provides inclusive analysis of key growth strategies adopted by major players. Key company profiled in the study are Archer-Daniels-Midland Company, BioSYLx LLC, CP Kelco U.S., Inc., Cargill, Incorporated, DSM Rainbow Biotechnology Co., Ltd., DuPont Nutrition & Health, Fufeng Group Limited, Hebei Xinhe Biochemical Co., Ltd, Jianlong Biotechnology Co., Ltd., Jungbunzlauer Suisse AG, Meihua Holdings Group Co., Ltd, Solvay SA, and Zibo Zhongxuan Biochemical Co., Ltd..
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