Over the past couple of years, the specialty food ingredient market has been surging at a significant rate in terms of value sales which is attributable to the rise in awareness on the health benefits associated with the consumption of the product. Owing to the concerns over rising obesity rates, diseases caused on consumption of junk and unhealthy food products, consumers now desire for a healthy lifestyle when it comes to consumption of food. As a result, consumers now seriously considering natural food products in their regular diet. On the other hand, even the food manufacturers have been triggering demand for natural food ingredient in order to cater to the varying needs and demands of its target customers. Fenugreek gum is one such natural food product that has been gaining traction in the fields of food industry. Fenugreek gum is a soluble fiber extracted from fenugreek seeds. Fenugreek gum has a wide range of applications in the food industry. Due to high proportion presence of galactomannan as its major component in fenugreek gum, it has the function of controlling blood sugar and blood lipid. As a result, fenugreek gum has been sighting opportunities in the pharmaceutical industry as well.
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Growing Demand for Natural and Organic Products is Driving Demand for Fenugreek Gums
Health conscious consumers seek for natural, organic and unmodified products that meet their essential health and nutrition needs. Conscious consumers insist that companies reliably and accurately detail product features and benefits. As a result, confluence of these factors has been gradually triggering demand for natural food ingredient like Fenugreek gum in the food processing industry. Fenugreek gum has been extensively being used for preparing sweets, ice creams, chewing gums, pickles etc. Besides that Fenugreek gum is also being used in pharmaceutical industry for the treatment of diabetes, reduction of sugar level and help burning of unwanted cholesterol. Fenugreek gum has some specific features which helps drives the demand for the product such as good viscosity, easily soluble in water, longer shelf life etc.
Global Fenugreek Gums: Market Segmentation
On the basis of nature, the global Fenugreek Gums market has been segmented as –
On the basis of end use, the global Fenugreek Gums market has been segmented as –
- Food Industry
- Pharmaceutical Industry
- Dietary Supplements
On the basis of functions, the global Fenugreek Gums market has been segmented as –
- Thickening agent
- Stabilizing agent
- Emulsifying agent
On the basis of formats, the global Fenugreek Gums market has been segmented as –
Global Fenugreek Gums Market: Key Takeaway
The Asia Pacific regions accounts to comparatively higher value share as compared to other regions due to rise in demand for functional food products which paves a critical opportunity for fenugreek gums market to grow at a significant rate in terms of value and volume sales.
Global Fenugreek Gums Market: Key Players
Some of the key players operating in the global Fenugreek Gums market are Altrafine Gums, Natural Agro Products, Royal Agrofoods Pvt. Ltd., Air Green, Shaanxi Yuantai Biological Technology Co. Ltd., Aatish Industries, Emrald Seed Products Ltd., Monterey Bay Spice Company, among others.
Fenugreek Gums Market: Key Trends
The major shareholding companies in the Fenugreek Gums market have been strategizing extending its product portfolio as well promoting its products and services to its target customers.
Fenugreek Gums Market: Key Developments
- Natural Agro Products, has come up with three grades of fenugreek gums i.e. Grade A (More than 80% galactmannam content), Grade B (80 – 86% galactmannam content) and Grade C (60%-80% galactmannam content)
Opportunities for Fenugreek Gums Market Participants
India is being considered as the largest producer of Fenugreek crop in the world. As of 2016, India produced around 248,000 tons of Fenugreek with Rajasthan accounting to higher share of fenugreek production. Along with the production, Fenugreek consumption is also being considered high in the country. As a result, fenugreek gum as the food ingredient sights potential opportunity in the country. Moreover, Fenugreek gum is known for burning out unwanted cholesterol. Hence in the world where obesity being considered as the prime concern among the consumers, Fenugreek gum as the solution to the problem, sight another critical opportunity in the global market.
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Brief Approach to Research for Fenugreek Gums Market
FMI will follow a modeling-based approach and triangulation methodology to estimate data covered in this report. A detailed market understanding and assessment of the nature, formats, and application of the coconut water concentrate segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data are collected at a regional level, consolidated and synthesized at a global level to estimate the overall Fenugreek Gums market sizes.
Key Data Points Covered in the Report
Some of the key data points covered in our report include:
- An overview of the Fenugreek Gums market, including background and evolution
- Macroeconomic factors affecting the Fenugreek Gums market and its potential
- Fenugreek Gums Market dynamics, such as drivers, challenges, and trends
- Detailed value chain analysis of the Fenugreek Gums market
- The cost structure of the products and segments covered in the study for Fenugreek Gums Market
- In-depth pricing analysis, by key product segments, regions and by major Fenugreek Gums market participants
- Analysis of supply and demand, such as top producing and consuming geographies, imports/exports, and overall trade scenario for Fenugreek Gums
- Analysis of the Fenugreek Gums market structure, including a tier-wise categorization of key market participants
- Competitive landscape of the Fenugreek Gums market, including detailed profiles of the top players in this market