TABLE OF CONTENTS

1 INTRODUCTION 11
1.1 OBJECTIVES OF THE STUDY 11
1.2 MARKET DEFINITION 11
1.3 SEGMENTATION AND COVERAGE 12
1.4 STAKEHOLDERS 13
1.5 BASE CURRENCY CONSIDERED FOR THE GUM ARABIC MARKET 13
1.6 ASSUMPTIONS 13
1.7 LIMITATIONS 14
2 RESEARCH METHODOLOGY 15
2.1 ARRIVING AT THE GLOBAL GUM ARABIC MARKET SIZE 17
2.1.1 RESEARCH METHODOLOGY 17
2.1.2 BOTTOM-UP APPROACH 17
2.1.3 DEMAND SIDE ANALYSIS 19
2.1.4 MACRO INDICATOR-BASED APPROACH 20
3 EXECUTIVE SUMMARY 21
4 MARKET OVERVIEW 23
4.1 INTRODUCTION 23
4.2 GUM ARABIC MARKET: COMPARISON WITH PARENT MARKET 24
4.3 KEY MARKET DYNAMICS 25
4.4 DEMAND SIDE ANALYSIS 30
4.5 MARKET DRIVERS AND INHIBITORS 31
4.6 OPPORTUNITIES 32
4.7 PORTER'S FIVE FORCES ANALYSIS 32
4.7.1 INTENSITY OF RIVALRY 32
4.7.2 BARGAINING POWER OF SUPPLIERS 33
4.7.3 BARGAINING POWER OF BUYERS 33
4.7.4 THREAT OF SUBSTITUTES 33
4.7.5 THREAT OF NEW ENTRANTS 33
5 GUM ARABIC MARKET, BY APPLICATION 34
5.1 INTRODUCTION 35
5.2 DEMAND SIDE ANALYSIS: KEY APPLICATIONS 37
5.3 GUM ARABIC IN CONFECTIONERY, BY GEOGRAPHY 38
5.4 GUM ARABIC IN BEVERAGE PRODUCTS, BY GEOGRAPHY 39
5.5 GUM ARABIC IN BAKERY PRODUCTS, BY GEOGRAPHY 41
5.6 GUM ARABIC IN DAIRY PRODUCTS, BY GEOGRAPHY 42
5.7 GUM ARABIC IN SAUCES AND DRESSINGS, BY GEOGRAPHY 44
6 GUM ARABIC MARKET, BY FUNCTION 46
6.1 INTRODUCTION 47
6.2 GUM ARABIC AS A THICKENER, BY GEOGRAPHY 49
6.3 GUM ARABIC AS A FAT REPLACER, BY GEOGRAPHY 51
6.4 GUM ARABIC AS A STABILIZER, BY GEOGRAPHY 52
6.5 GUM ARABIC AS A GELLING AGENT, BY GEOGRAPHY 54
6.6 GUM ARABIC AS A COATING AGENT, BY GEOGRAPHY 55
6.7 GUM ARABIC AS A TEXTURANT, BY GEOGRAPHY 57
7 GUM ARABIC MARKET, BY TYPE 59
7.1 INTRODUCTION 60
7.2 GUM ARABIC MARKET, TYPE COMPARISON WITH FOOD AND BEVERAGE INGREDIENTS MARKET 62
7.3 SENEGALIA SENEGAL GUM MARKET, BY GEOGRAPHY 63
7.4 VACHELLIA SEYAL GUM MARKET, BY GEOGRAPHY 64
8 GUM ARABIC MARKET, BY GEOGRAPHY 66
8.1 INTRODUCTION 67
8.2 NORTH AMERICA 69
8.2.1 NORTH AMERICAN GUM ARABIC MARKET, BY GEOGRAPHY 70
8.3 EUROPE 71
8.3.1 EUROPEAN GUM ARABIC MARKET, BY GEOGRAPHY 72
8.4 ASIA-PACIFIC 73
8.4.1 ASIA-PACIFIC GUM ARABIC MARKET, BY GEOGRAPHY 74
8.5 LATIN AMERICA 75
8.5.1 LATIN AMERICAN GUM ARABIC MARKET, BY GEOGRAPHY 76
8.6 ROW 77
8.6.1 ROW GUM ARABIC MARKET, BY GEOGRAPHY 78
9 COMPETITIVE LANDSCAPE 79
9.1 COMPANY SHARE ANALYSIS 79
9.2 COMPANY PRESENCE IN GUM ARABIC MARKET, BY TYPE 80
9.3 MERGERS & ACQUISITIONS 81
9.4 EXPANSIONS 81
9.5 INVESTMENTS 82

10 GUM ARABIC MARKET, BY COMPANY 83
(Business Overview, Product Portfolio, Financials, Related Developments and MnM View)*
10.1 GUM ARABIC COMPANY 83
10.2 NEXIRA 84
10.3 KERRY GROUP 86
10.4 TIC GUMS INC. 88
10.5 AGRIGUM INTERNATIONAL LIMITED 90
10.6 FARBEST BRANDS 91
10.7 ARCHER DANIELS MIDLAND COMPANY 93
10.8 ASHLAND INC. 95
10.9 HAWKINS WATTS 97
10.10 PRODIGY NIG LIMITED 98
*Details on Business Overview, Product Portfolio, Financials, Related Developments and MnM View might not be captured in case of unlisted companies.
11 APPENDIX 99
11.1 CUSTOMIZATION OPTIONS 99
11.1.1 TECHNICAL ANALYSIS 99
11.1.2 LOW-COST SOURCING LOCATIONS 99
11.1.3 REGULATORY FRAMEWORK 99
11.1.4 FOOD-GUM ARABIC USAGE DATA 99
11.1.5 IMPACT ANALYSIS 99
11.1.6 TRADE ANALYSIS 99
11.1.7 HISTORICAL DATA AND TRENDS 99
11.2 INTRODUCING RT: REAL TIME MARKET INTELLIGENCE 100
11.3 RELATED REPORTS 101


LIST OF TABLES

TABLE 1 ASSUMPTIONS OF THE RESEARCH STUDY 13
TABLE 2 LIMITATIONS OF THE RESEARCH STUDY 14
TABLE 3 GLOBAL GUM ARABIC APPLICATION MARKETS, 2014 (MT) 19
TABLE 4 GUM ARABIC MARKET, MACRO INDICATOR: POPULATION PROJECTION, 2014 (‘000) 20
TABLE 5 GUM ARABIC MARKET: COMPARISON WITH PARENT MARKET,
2013-2019 ($MILLION) 24
TABLE 6 GUM ARABIC MARKET: COMPARISON WITH PARENT MARKET, 2013-2019 (MT) 24
TABLE 7 GUM ARABIC MARKET, BY APPLICATION, 2013-2019 ($MILLION) 25
TABLE 8 GUM ARABIC MARKET, BY APPLICATION, 2013-2019 (MT) 26
TABLE 9 GUM ARABIC MARKET, BY FUNCTION, 2013-2019 ($MILLION) 27
TABLE 10 GUM ARABIC MARKET, BY FUNCTION, 2013-2019 (MT) 28
TABLE 11 GUM ARABIC MARKET, BY TYPE, 2013-2019 ($MILLION) 29
TABLE 12 GUM ARABIC MARKET, BY TYPE, 2013-2019 (MT) 29
TABLE 13 GUM ARABIC MARKET, BY GEOGRAPHY, 2013-2019 ($MILLION) 29
TABLE 14 GUM ARABIC MARKET, BY GEOGRAPHY, 2013-2019 (MT) 30
TABLE 15 GUM ARABIC MARKET: COMPARISON WITH APPLICATION MARKETS,
2013-2019 ($MILLION) 31
TABLE 16 GUM ARABIC MARKET, BY APPLICATION, 2013-2019 ($MILLION) 36
TABLE 17 GUM ARABIC MARKET, BY APPLICATION, 2013-2019 (MT) 37
TABLE 18 DEMAND SIDE ANALYSIS: KEY APPLICATIONS 38
TABLE 19 GUM ARABIC IN CONFECTIONERY, BY GEOGRAPHY, 2013-2019 ($MILLION) 38
TABLE 20 GUM ARABIC IN CONFECTIONERY, BY GEOGRAPHY, 2013-2019 (MT) 39
TABLE 21 GUM ARABIC IN BEVERAGE PRODUCTS, BY GEOGRAPHY, 2013-2019 ($MILLION) 40
TABLE 22 GUM ARABIC IN BEVERAGE PRODUCTS, BY GEOGRAPHY,2013-2019 (MT) 40
TABLE 23 GUM ARABIC IN BAKERY PRODUCTS, BY GEOGRAPHY, 2013-2019 ($MILLION) 41
TABLE 24 GUM ARABIC IN BAKERY PRODUCTS, BY GEOGRAPHY, 2013-2019 (MT) 42
TABLE 25 GUM ARABIC IN DAIRY PRODUCTS, BY GEOGRAPHY, 2013-2019 ($MILLION) 43
TABLE 26 GUM ARABIC IN DAIRY PRODUCTS, BY GEOGRAPHY, 2013-2019 (MT) 43
TABLE 27 GUM ARABIC IN SAUCES AND DRESSINGS, BY GEOGRAPHY,
2013-2019 ($MILLION) 44
TABLE 28 GUM ARABIC IN SAUCES AND DRESSINGS, BY GEOGRAPHY, 2013-2019 (MT) 45
TABLE 29 GUM ARABIC MARKET, BY FUNCTION, 2013-2019 ($MILLION) 48
TABLE 30 GUM ARABIC MARKET, BY FUNCTION, 2013-2019 (MT) 49
TABLE 31 GUM ARABIC MARKET AS A THICKENER, BY GEOGRAPHY, 2013-2019 ($MILLION) 50
TABLE 32 GUM ARABIC MARKET AS A THICKENER, BY GEOGRAPHY, 2013-2019 (MT) 50
TABLE 33 GUM ARABIC MARKET AS A FAT REPLACER, BY GEOGRAPHY,
2013-2019 ($MILLION) 51
TABLE 34 GUM ARABIC MARKET AS A FAT REPLACER, BY GEOGRAPHY, 2013-2019 (MT) 52
TABLE 35 GUM ARABIC MARKET AS A STABILIZER, BY GEOGRAPHY, 2013-2019 ($MILLION) 53
TABLE 36 GUM ARABIC MARKET AS A STABILIZER, BY GEOGRAPHY, 2013-2019 (MT) 53
TABLE 37 GUM ARABIC MARKET AS A GELLING AGENT, BY GEOGRAPHY,
2013-2019 ($MILLION) 54
TABLE 38 GUM ARABIC MARKET AS A GELLING AGENT, BY GEOGRAPHY, 2013-2019 (MT) 55
TABLE 39 GUM ARABIC MARKET AS A COATING AGENT, BY GEOGRAPHY,
2013-2019 ($MILLION) 56
TABLE 40 GUM ARABIC MARKET AS A COATING AGENT, BY GEOGRAPHY, 2013-2019 (MT) 56
TABLE 41 GUM ARABIC MARKET AS A TEXTURANT, BY GEOGRAPHY, 2013-2019 ($MILLION) 57
TABLE 42 GUM ARABIC MARKET AS A TEXTURANT, BY GEOGRAPHY, 2013-2019 (MT) 58
TABLE 43 GUM ARABIC MARKET, BY TYPE, 2013-2019 ($MILLION) 60
TABLE 44 GUM ARABIC MARKET, BY TYPE, 2013-2019 (MT) 61
TABLE 45 GUM ARABIC MARKET: TYPE COMPARISON WITH PARENT MARKET,
2013-2019 ($MILLION) 62
TABLE 46 SENEGALIA SENEGAL GUM MARKET, BY GEOGRAPHY, 2013-2019 ($MILLION) 63
TABLE 47 SENEGALIA SENEGAL GUM MARKET, BY GEOGRAPHY, 2013-2019 (MT) 64
TABLE 48 VACHELLIA SEYAL GUM MARKET, BY GEOGRAPHY, 2013-2019 ($MILLION) 65
TABLE 49 VACHELLIA SEYAL GUM MARKET, BY GEOGRAPHY, 2013-2019 (MT) 65
TABLE 50 GUM ARABIC MARKET, BY GEOGRAPHY, 2013-2019 ($MILLION) 67
TABLE 51 GUM ARABIC MARKET, BY GEOGRAPHY, 2013-2019 (MT) 68
TABLE 52 NORTH AMERICAN GUM ARABIC MARKET, BY GEOGRAPHY, 2013-2019 ($MILLION) 70
TABLE 53 NORTH AMERICAN GUM ARABIC MARKET, BY GEOGRAPHY, 2013-2019 (MT) 70
TABLE 54 EUROPEAN GUM ARABIC MARKET, BY GEOGRAPHY, 2013-2019 ($MILLION) 72
TABLE 55 EUROPEAN GUM ARABIC MARKET, BY GEOGRAPHY, 2013-2019 (MT) 72
TABLE 56 ASIA-PACIFIC GUM ARABIC MARKET, BY GEOGRAPHY, 2013-2019 ($MILLION) 74
TABLE 57 ASIA-PACIFIC GUM ARABIC MARKET, BY GEOGRAPHY, 2013-2019 (MT) 74
TABLE 58 LATIN AMERICAN GUM ARABIC MARKET, BY GEOGRAPHY, 2013-2019 ($MILLION) 76
TABLE 59 LATIN AMERICAN GUM ARABIC MARKET, BY GEOGRAPHY, 2013-2019 (MT) 76
TABLE 60 ROW GUM ARABIC MARKET, BY GEOGRAPHY, 2013-2019 ($MILLION) 78
TABLE 61 ROW GUM ARABIC MARKET, BY GEOGRAPHY, 2013-2019 (MT) 78
TABLE 62 GUM ARABIC MARKET: COMPANY SHARE ANALYSIS, 2014 (%) 79
TABLE 63 GUM ARABIC MARKET: MERGERS & ACQUISITIONS 81
TABLE 64 GUM ARABIC MARKET: EXPANSIONS 81
TABLE 65 GUM ARABIC MARKET: INVESTMENTS 82
TABLE 66 KERRY GROUP: KEY OPERATIONS DATA, 2009-2013 ($MILLION) 86
TABLE 67 KERRY GROUP: KEY FINANCIALS, 2009-2013 ($MILLION) 87
TABLE 68 ARCHER DANIELS MIDLAND COMPANY: KEY OPERATIONS DATA,
2010-2014 ($MILLION) 93
TABLE 69 ARCHER DANIELS MIDLAND COMPANY: KEY FINANCIALS, 2009-2013 ($MILLION) 94
TABLE 70 ASHLAND INC.: KEY OPERATIONS DATA, 2010-2014 ($MILLION) 95
TABLE 71 ASHLAND INC.: KEY FINANCIALS, 2009-2013 ($MILLION) 96


LIST OF FIGURES

FIGURE 1 MARKET DEFINITION AND SCOPE OF THE STUDY 12
FIGURE 2 INTEGRATED ECOSYSTEM 16
FIGURE 3 BOTTOM-UP APPROACH 18
FIGURE 4 DEMAND SIDE ANALYSIS 19
FIGURE 5 MACRO INDICATOR-BASED APPROACH 20
FIGURE 6 GLOBAL GUM ARABIC MARKET: SNAPSHOT, 2014 22
FIGURE 7 GUM ARABIC MARKET: GROWTH ASPECTS 23
FIGURE 8 GUM ARABIC MARKET, BY APPLICATION, 2014 VS 2019 25
FIGURE 9 GUM ARABIC FUNCTIONS, BY GEOGRAPHY, 2014 ($MILLION) 27
FIGURE 10 GUM ARABIC MARKET: GROWTH ANALYSIS, BY TYPE, 2014-2019 (%) 28
FIGURE 11 PORTER'S FIVE FORCES ANALYSIS 32
FIGURE 12 GLOBAL GUM ARABIC MARKET, BY APPLICATION, 2014 & 2019 ($MILLION) 35
FIGURE 13 GUM ARABIC MARKET, BY APPLICATION, 2014 & 2019 (MT) 36
FIGURE 14 GUM ARABIC MARKET IN CONFECTIONERY, BY GEOGRAPHY,
2013-2019 ($MILLION) 38
FIGURE 15 GUM ARABIC MARKET IN BEVERAGE PRODUCTS, BY GEOGRAPHY,
2013-2019 ($MILLION) 39
FIGURE 16 GUM ARABIC MARKET IN BAKERY PRODUCTS, BY GEOGRAPHY,
2013-2019 ($MILLION) 41
FIGURE 17 GUM ARABIC MARKET IN DAIRY PRODUCTS, BY GEOGRAPHY,
2013-2019 ($MILLION) 42
FIGURE 18 GUM ARABIC MARKET IN SAUCES AND DRESSINGS, BY GEOGRAPHY,
2013-2019 ($MILLION) 44
FIGURE 19 GUM ARABIC MARKET, BY FUNCTION, 2014 & 2019 ($MILLION) 47
FIGURE 20 GUM ARABIC MARKET, BY FUNCTION, 2014 & 2019 (MT) 48
FIGURE 21 GUM ARABIC MARKET AS A THICKENER, BY GEOGRAPHY, 2013-2019 ($MILLION) 49
FIGURE 22 GUM ARABIC MARKET AS A FAT REPLACER, BY GEOGRAPHY,
2013-2019 ($MILLION) 51
FIGURE 23 GUM ARABIC MARKET AS A STABILIZER, BY GEOGRAPHY, 2013-2019 ($MILLION) 52
FIGURE 24 GUM ARABIC MARKET AS A GELLING AGENT, BY GEOGRAPHY,
2013-2019 ($MILLION) 54
FIGURE 25 GUM ARABIC MARKET AS A COATING AGENT, BY GEOGRAPHY,
2013-2019 ($MILLION) 55
FIGURE 26 GUM ARABIC MARKET AS A TEXTURANT, BY GEOGRAPHY, 2013-2019 ($MILLION) 57
FIGURE 27 GUM ARABIC MARKET, BY TYPE, 2014 & 2019 ($MILLION) 60
FIGURE 28 GUM ARABIC MARKET, BY TYPE, 2014 & 2019 (MT) 61
FIGURE 29 GUM ARABIC MARKET: TYPE COMPARISON WITH FOOD AND BEVERAGE INGREDIENTS MARKET, 2013-2019 ($MILLION) 62
FIGURE 30 SENEGALIA SENEGAL GUM MARKET, BY GEOGRAPHY, 2013-2019 ($MILLION) 63
FIGURE 31 VACHELLIA SEYAL GUM MARKET, BY GEOGRAPHY, 2013-2019 ($MILLION) 64
FIGURE 32 GUM ARABIC MARKET: GROWTH ANALYSIS, BY GEOGRAPHY,
2014 & 2019 ($MILLION) 67
FIGURE 33 GUM ARABIC MARKET: GROWTH ANALYSIS, BY GEOGRAPHY, 2014 & 2019 (MT) 68
FIGURE 34 NORTH AMERICAN GUM ARABIC MARKET OVERVIEW, 2014 & 2019 (%) 69
FIGURE 35 EUROPEAN GUM ARABIC MARKET OVERVIEW, 2014 & 2019 (%) 71
FIGURE 36 ASIA-PACIFIC GUM ARABIC MARKET OVERVIEW, 2014 & 2019 (%) 73
FIGURE 37 LATIN AMERICAN GUM ARABIC MARKET OVERVIEW, 2014 & 2019 (%) 75
FIGURE 38 ROW GUM ARABIC MARKET OVERVIEW, 2014 & 2019 (%) 77
FIGURE 39 GUM ARABIC MARKET: COMPANY SHARE ANALYSIS, 2014 (%) 79
FIGURE 40 GUM ARABIC MARKET: COMPANY PRODUCT COVERAGE, BY TYPE, 2014 80
FIGURE 41 KERRY GROUP: REVENUE MIX, 2014 (%) 86
FIGURE 42 ARCHER DANIELS MIDLAND COMPANY: REVENUE MIX 2013 (%) 93
FIGURE 43 ASHLAND SPECIALTY INGREDIENTS: REVENUE MIX, 2014 (%) 95