Research Nester has released a report titled “Europe Tamarind Gum Market – Demand Analysis & Opportunity Outlook 2028” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.
According to the Forschungsinstitut für biologischen Landbau (FiBL), the leading research institute for organic farming, in 2018, the organic market in Europe generated a revenue of almost USD 46 billion, increasing by up to 8% from previous year.
The statistics depict that the demand for nutritional foods in the Europe region has witnessed a notable hike since the last few years. As a result, the demand for tamarind gum is also surging owing to its health benefits, including antioxidant and anti-inflammatory properties. Furthermore, the growing number of applications of tamarind seed gum in textiles, pharmaceuticals, cosmetics and other industry verticals is anticipated to drive the growth of the market over the forecast period, i.e., 2020-2028. The Europe tamarind gum market is projected to grow with a CAGR of 7.7% throughout the forecast period, and reach a revenue of USD 15.8 million by the end of 2028, from USD 11.4 million in 2019. The market is estimated to expand further owing to the lower price of tamarind gum as compared with other alternatives, namely guar gum. Along with this, the thickening and gelling properties of tamarind are also expected to boost market growth in the near future.
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Tamarind gum has several applications in the pharmaceutical industry for drug development and treatment of diseases. Along with this, increasing emphasis of patients to treat diseases such as arthritis, cancer, high blood pressure and cardiovascular disorders with organic medication. This in turn is expected to drive the demand for tamarind gum in the region’s medical sector. Additionally, the usage of tamarind gum is also high in personal care & cosmetics industry, which can be credited to the growing utilization of organic products by cosmetic companies in the region.
Although Europe is a significant consumer of tamarind gum, the region doesn’t have any tamarind production of its own and is entirely dependent on Africa, South America and Asia Pacific to meet the product demand. Moreover, the market in the United Kingdom is predicted to gather a sizeable share and witness noteworthy growth over the forecast period accounting to the increasing to use naturally sourced products for consumer-packaged goods. Along with this, France, Germany and Italy also hold a significant position in the market in terms of share and are projected to offer ample growth opportunities to the Europe tamarind gum market in the upcoming years, backed by the surge in requirements for the gum from a plethora of industries.
However, the inconsistency in the production of tamarind, and stringent rules and protocols associated with the testing of natural supplements in Europe are expected to hinder market growth during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the Europe tamarind gum market, which includes company profiling of The Mysore Starch Manufacturing Company, Adachi Natural Polymer Limited, Premcem Gums Private Limited, Qingdao Libangda Marine Technology Co., Ltd, DSP Gokyo Food & Chemical Co., Ltd., Mahesh Agro Food Industries, Hindustan Gum & Chemicals Ltd, Chhaya Industries, JD Gums & Chemicals, and others.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Europe Tamarind Gum Market – Demand Analysis & Opportunity Outlook 2028”, analyses the overall Europe tamarind gum industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the Europe tamarind gum market in the near future.
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