Biosaccharide Gum Market Forecast and CAGR
According to the latest evaluation done on the biosaccharide gum market by Fact.MR, market is projected to grow with a higher single-digit CAGR of around 7% owing to strong demand for gum from the cosmetics and personal care industry. Moreover, the rising need for non-toxic products is also projected to drive the gum market over the projected forecast period.
What Has Been Driving the Biosaccharide Gum Market?
Biosaccharide gums find its extensive use as a moisturizing and skin-soothing ingredient. Gum has also been identified as an ingredient equipped with properties such as anti-irritant. Also, the hydrating properties of gums have made it possible to be used in various skin and hair care products.
Additionally, since gums are directly used in the manufacturing of cosmetic products, consumption of such products will have a direct impact on biosaccharide gum sales. For instance, the moisturizing lotion market was valued at around 12 Bn in 2020 which is further projected to grow with a CAGR of around 5.6% by 2031.
Moreover, the positive surge in popularity of skin hydrating products among the younger population is a major factor driving the gums market. Further, mounting investments in product development, to make cosmetic products toxin-free and skin-friendly are providing a major boost to the biosaccharide market.
Owing to these positive trends biosaccharide gums market is expected to see substantial growth over the projected forecast period.
Skin Care Industry to Bolster the Biosaccharide Gums Demand
Skincare is the most lucrative sector in the cosmetic industry which includes products such as moisturizers, lotions, beauty oils, face creams, and many more. Also, these products have been found to use these gums extensively as they enhance hydrating properties of creams.
Additionally, the increased popularity of face mask over the years have helped beauty industry to earn segmental revenue thus, in turn, driving the sales of biosaccharide as well.
Moreover, with an online sales channel in place, there has been a rise in sales of cosmetic products. For instance, in 2019 US consumers spent around US$ 14 Bn purchasing cosmetic products online.
Owing to the above-stated factors biosaccharide usage in skincare products is expected to drive the market and help earn high incremental growth through 2031.
COVID Impact on Biosaccharide Gum Market
Various industries were impacted due to the pandemic including the cosmetic industry which saw a rapid decline in its sales owing to the shutdown of supermarkets and retail shops. This in turn affected the revenue generation capacity of biosaccharide in short term.
However, penetration of online sales channels in the cosmetic industry has ensured the continued demand for gums thus positive growth for biosaccharide is projected over the medium term.
The online sales channel is projected to be the major growth driver for the cosmetic industry bolstering its demand among the younger generation thus also propelling the market growth for biosaccharide over the next decade.
Europe Biosaccharide Gum Market Outlook
Europe has a robust cosmetic industry in place and has established itself as a major exporter of cosmetic products. For instance, Europe’s skincare market is valued at around US$ 20 Bn, owing to the presence of major cosmetic manufacturers. Also, European manufacturers spend relatively more on R&D than their counterparts in other regions.
Additionally, European consumers tend to spend more than consumers of any other region. For instance, it has been observed that women in Europe spend 3x more on cosmetic products than women in the Asia Pacific.
Moreover, there is a growing trend of natural and non-toxic products and since biosaccharide is a naturally derived product, it has gained prominence in the skincare industry thus driving the gums market.
Asia Pacific Biosaccharide Gum Market Outlook
The Asia Pacific is projected to be the most lucrative market for biosaccharide owing to the rise in disposable income in the region. Additionally, Asia Pacific is seeing a mounting surge in the younger working population, and they have been increasingly adopting cosmetic products suited to customized requirements. This is being considered a major contributor to the growth of biosaccharide in the region.
For instance, in Malaysia female participation in the workforce has been around 46% which has helped the cosmetics and especially skincare segment earn high segmental revenue over the past decade.
The same trends are projected to provide the biosaccharide industry with growth opportunities to expand its business thus propelling its demand in the region over the forecast period.
Who are the Key Manufacturers and Suppliers of Biosaccharide Gum?
Some of the key manufacturers of biosaccharide gum are
- Blue Sun International
- The Solabia Group
- Aston Chemicals
- Manis Chemicals
- Aroma Zone
By Use Case
- Bath Products
- Skin care products
- Hair care products
By Product Type
- Biosaccharide Gum 1
- Biosaccharide Gum 2
- Biosaccharide Gum 3
- Biosaccharide Gum 4
- Biosaccharide Gum 5
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Argentina & Rest of Latin America
- Germany, France, Italy, Spain, U.K., Benelux, Russia, and Rest of Europe
- East Asia
- China, Japan, South Korea
- South Asia & Oceania
- India, Thailand, Malaysia, Indonesia, Australia & New Zealand and Rest of South Asia
- Middle East and Africa
- GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa
- North America
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