Global Gellan Gum Market Size, Share, Growth Analysis, By Type(Low Acyl Gellan Gum, High Acyl Gellan Gum), By Application(Food Additives Industry, Daily-Chemical Industry) - Industry Forecast 2024-2031

Global Gellan Gum Market size was valued at USD 192.04 million in 2022 and is poised to grow from USD 216.81 million in 2023 to USD 572.32 million by 2031, growing at a CAGR of 12.90% during the forecast period (2024-2031).

The increasing adoption of gellan gum across food, beverage, pharmaceutical, and cosmetic sectors is anticipated to drive market expansion in the foreseeable future. Derived from the fermentation of specific bacteria, gellan gum is a microbial polysaccharide renowned for its distinctive gelling, thickening, and stabilizing attributes. Widely utilized to enhance the texture, mouthfeel, and shelf life of various products like desserts, processed foods, and dairy alternatives, gellan gum exhibits versatility in forming both firm and elastic gels under diverse temperature and pH conditions. Moreover, its role as a suspending and emulsifying agent in pharmaceutical liquid formulations ensures uniform dispersion of active ingredients in medications and vaccines, while in the cosmetics industry, it lends structural support to personal care products. With its compatibility with vegan and vegetarian diets aligning with the growing popularity of plant-based lifestyles, the pervasive use of gellan gum across multiple consumer goods sectors is poised to be a key driver of market advancement in the long term.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Gellan Gum Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Gellan Gum Market Segmental Analysis

Global organic light emitting diode market is segmented based on product type, technology, end use, and region.Based on product type, Organic Light Emitting Diode Market is segmented as display, lighting. Based on technology, Organic Light Emitting Diode Market is segmented as PMOLED, AMOLED, Transparent OLED, Top emitting OLED, Foldable OLED, White OLED. Based on end user, Organic Light Emitting Diode Market is segmented as consumer electronics, automotive, retail, industrial, commercial, aerospace and defence, healthcare, others. Based on region, Organic Light Emitting Diode Market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East Africa.

Drivers of the Global Gellan Gum Market

Expansion of the LED and OLED display market is essential to create favorable growth opportunities for market participants. OLEDs offer versatility, simplicity, and function as a surface light source. Both established players and emerging businesses offer LED and OLED products, presenting promising avenues for development. While LED lighting products are experiencing growth, their market size still lags behind fuel-based lighting systems, giving LED manufacturers ample room for innovation and expansion.

Restraints in the Global Gellan Gum Market

The increased expense of LED and OLED displays has led consumers to favor LCDs, despite the superior performance offered by LED and OLED technologies. This preference stems from the LCD's satisfactory performance at a lower price point. Consequently, the growth of the LED and OLED display and lighting market in Africa is expected to be constrained during the forecast period. Additionally, a lack of awareness among consumers regarding the benefits of advanced lighting solutions is anticipated to hinder market expansion in the foreseeable future.

Market Trends of the Global Gellan Gum Market

Flexible OLED displays boast an unbreakable surface paired with a lightweight plastic overlay window, enhancing their durability and strength compared to traditional glass displays. The rising preference for screens resilient to external pressure and less prone to breakage is anticipated to fuel the demand for flexible OLED technology. Moreover, the drive to minimize distortion and enhance device flexibility contributes to market revenue growth projections. Additionally, the increasing demand for ultra-thin, foldable, and transparent displays to deliver superior image quality is poised to further bolster market revenue during the forecast period