Cellulose Gum Market Analysis
The cellulose gum market is set to witness a spend growth of more than USD 230 million with spend momentum to accelerate at a CAGR of over 4% between 2019-2024. The recent increase in the demand for gluten-free products will pave the way for an extensive utilization of cellulose gum in the production of gluten-free food products, such as bread. This will contribute to spend growth in the cellulose gum market. The thickening and film-forming properties of this product will result in its extensive usage in the beauty and personal care industries.
Top Spending Regions in the Cellulose Gum Market
An exponentially increasing demand from the food and beverage industry will drive the spend momentum in the cellulose gum market across the key geographies during the forecast period.
The United States
The increase in the health-conscious demography is resulting in a stark rise in the demand for gluten-free food products. This is driving the demand for cellulose gum and is contributing to the market’s spend momentum. The US is home to one of the largest F&B markets which is expected to grow at a CAGR of about 6% during the forecast period, owing to increasing user penetration. This will contribute to the demand growth in the cellulose gum market in the region.
APAC
The rising urbanization is resulting in an increase in the demand for processed foods in countries such as India, China, the Philippines, and Malaysia. This growth of the food processing industry in the emerging economies of APAC is propelling the demand growth in the cellulose gum market in this region.
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What are the Key Price Trends in this Market?
- Forecasts of increase in the prices of key raw materials, such as wood and cottonseed will add to the production expenditure incurred by cellulose gum suppliers. This is expected to have an inflationary impact on the market price.
- The rise in the shortage of labor globally is compelling suppliers to increase wages. This will lead to an increase in the labor cost of suppliers during the forecast period.
- An increase in investments to develop improved cellulose grades is estimated to drive this cost component during the forecast period.
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Insights Offered in this Cellulose Gum Market Report
- Global and regional spend potential for the cellulose gum market for the period of 2019-2024
- Supplier relationship management practices in the cellulose gum market
- Supplier margins and selection criteria in the cellulose gum market
- Top cellulose gum suppliers and their cost structures
- Top cellulose gum suppliers in the US and their cost structures
- Cellulose gum market spend analysis in the US
- Cellulose gum price trends, and forecasts
- Cost drivers influencing the cellulose gum prices
Insights into Cellulose Gum Supply Market
- Turkey, the Netherlands, Finland, Italy, Brazil, China, and India are some of the major cellulose gum-producing countries. Regions such as North America, MEA, and South America rely on Europe and APAC for the procurement of cellulose gum.
- Cellulose gum suppliers are focusing on increasing their business operations in APAC owing to the forecasts of market spend growth in this region. To increase their clientele and revenue, suppliers are increasingly providing solutions to buyers such as assistance in the development of customized grades of cellulose gum to suit buyer requirements, consulting solutions pertaining to product development, and supply chain financing.
- In the cellulose gum market, it is prudent of buyers to partner with suppliers who redistribute the spend on raw materials between regional and global vendors. Such a redistribution of spend helps reduce the risks associated with the shortage and the price hike of raw materials, thereby reducing the impact on the product prices.
Insights into Some of the Leading Cellulose Gum Suppliers
The supply market dynamics hint at a substantial hike in suppliers’ OPEX which will drive buyer’s procurement spend. Keeping such dynamics in mind, strategic selection of suppliers and maintaining an effective supplier relationship management are observed to facilitate buyers with optimized procurement expenditure and better category management in the cellulose gum market. This cellulose gum market procurement intelligence report has enlisted the top suppliers and their cost structures, SLA terms, best selection criteria, and negotiation strategies for the top cellulose gum suppliers. The top cellulose gum suppliers highlighted in this report include:
- J.M. Huber Corp.
- Akzo Nobel NV
- Ashland Global Holdings Inc.
- Ingredion Inc.
- Nippon Paper Industries Co. Ltd.
- Lamberti Spa
Criteria to select suppliers in this dynamic cellulose gum market is subject to change based on the day-to-day market outlook. Get a free demo of our procurement platform to gain immediate access into real-time insights to the changing suppliers selection criteria.
