Report Description Table of Contents 1. Introduction and Strategic Context The Global Gum Arabic Market will witness a steady CAGR of 6.1% , valued at USD 865.7 million in 2024 , and projected to reach around USD 1.23 billion by 2030 , confirms Strategic Market Research. Gum arabic , a natural gum sourced primarily from Acacia senegal and Acacia seyal trees, has evolved from a commodity-based ingredient to a strategic component in food, beverage, pharmaceuticals, and even industrial formulations. Historically valued for its emulsifying and stabilizing properties, gum arabic is now part of broader conversations around clean-label ingredients, dietary fiber enrichment, and sustainable sourcing. Between 2024 and 2030, its market relevance is being reshaped by demand from both ends of the spectrum — global food giants reformulating to meet labeling standards, and local producers in Africa seeking value chain upgrades. What's shifting? Several forces are at play. On the demand side, food and beverage companies are using gum arabic as a plant-based, multifunctional alternative to synthetic additives. With pressure mounting from regulators and conscious consumers, ingredient lists are under scrutiny — and gum arabic delivers on functionality without sounding like a chemistry experiment . It’s now used in everything from soft drink syrups and gummy supplements to premium confectionery and gluten-free baking. Supply-side dynamics are just as interesting. Over 80% of global gum arabic output comes from Sudan, Chad, and Nigeria — regions experiencing political instability, climate stress, and infrastructure constraints. That’s turning ingredient security into a boardroom issue for multinationals. So, we’re seeing more direct sourcing partnerships, agroforestry investments, and traceability programs. In short, gum arabic is no longer a low-margin input — it's a risk-managed resource. Stakeholder activity is diversifying fast. OEMs in food processing are adjusting formulations to accommodate natural gums. FMCG manufacturers are embedding gum arabic into clean-label strategies. NGOs and governments are supporting sustainable gum harvesting to stabilize rural incomes in Africa’s Sahel belt. And investors , especially those focused on ESG mandates, are starting to recognize gum arabic as a sustainable supply chain asset. To be honest, this market used to fly under the radar — seen as a dusty ingredient from a distant supply base. But with ESG scrutiny rising, and plant-based systems gaining ground, gum arabic is entering a new era. It’s no longer just about function in a product. It’s about provenance, resilience, and transparency. 2. Market Segmentation and Forecast Scope The gum arabic market cuts across multiple dimensions — from botanical source to industrial function to end-use application. This segmentation isn’t just useful for analysts. It reflects how companies actually structure sourcing contracts, product development, and risk mitigation strategies. Here's how the forecast has been structured: By Type Acacia Senegal Considered the premium variety, Acacia Senegal gum offers superior emulsification and higher solubility. It’s the preferred choice for beverage concentrates, spray-dried flavors , and pharmaceutical coatings. Though it accounts for only about 42% of global supply (2024), its price point is significantly higher. Acacia Seyal More widely available and cost-effective, this type is used in bakery, dairy stabilizers, and powdered supplements. It’s less emulsifying but high in fiber , making it popular for nutrition applications. Acacia Senegal continues to dominate high-margin applications, but Seyal is gaining traction due to supply scale and fiber content. By Function Emulsifier Still the largest functional segment, gum arabic helps stabilize oil-in-water emulsions in beverages and flavor systems. It's used in citrus concentrates, essential oil carriers, and aroma encapsulation. Stabilizer Growing demand for natural stabilizers in dairy, sauces, and non-dairy alternatives is expanding gum arabic's role in texture management. Dietary Fiber Source With prebiotic interest rising, gum arabic is being repositioned as a fiber additive in wellness beverages, bars, and nutraceuticals. Film-Former / Binder Used in tablet coatings, confectionery glazes, and printing inks — this function is particularly strong in pharma and industrial use. Fiber-enhanced applications are growing fastest, especially in functional foods and gut-health beverages. By Application Food & Beverages The largest application category by volume and value. Gum arabic is widely used in soft drinks, confectionery, bakery, and flavor microencapsulation. Pharmaceuticals Used as a binder, demulcent, and emulsifier in tablets, syrups, and lozenges. Also valued for being non-reactive and biocompatible. Cosmetics & Personal Care Functions as a natural thickener or film-former in serums, masks, and lotions. Printing & Industrial Used in lithographic printing, ceramic glazes, and ink formulation — though this segment is mature and largely flat. Food and beverage leads , but pharma and cosmetics are increasingly seeking natural ingredient substitutes — gum arabic fits. By Region North America Driven by clean-label reformulation in beverages and functional snacks. U.S. remains a major importer of high-grade Acacia Senegal. Europe Focused on organic, non-GMO, and fiber -enriched product categories. EU regulations favor natural additives over synthetics, making gum arabic a staple. Asia-Pacific Fastest-growing region due to rising demand from India, China, and Southeast Asia in processed snacks and wellness foods. LAMEA (Latin America, Middle East, Africa) Africa is the production hub, but local consumption is still low. Latin America is beginning to explore gum arabic in beverages and emulsified flavor systems. Scope Note: While gum arabic is classified by source and use, there’s a growing commercial segmentation around grade and traceability . Exporters now offer “sustainable” or “wild-harvested” labels. Expect more demand stratification over the forecast period. 3. Market Trends and Innovation Landscape The gum arabic market isn’t just growing — it’s evolving. The shift from commodity stabilizer to strategic, multifunctional input has triggered a wave of innovation across sourcing, formulation, and product development. Below are the core trends redefining how this ingredient is perceived and deployed in 2024 and beyond. Clean-Label and Functional Repositioning Gum arabic is being rebranded — not just as a stabilizer, but as a natural dietary fiber , prebiotic , and clean emulsifier . Food brands are increasingly leaning into the “plant-based” and “origin-traceable” narrative to meet evolving consumer preferences. In beverage categories, especially in citrus and cola drinks, brands are removing synthetic emulsifiers like brominated vegetable oil (BVO) and replacing them with gum arabic . One R&D executive from a European soft drink manufacturer shared: “We’re not just switching to gum arabic — we’re marketing it on the label. Consumers are reading.” Rise of Prebiotic and Gut Health Applications Scientific studies are reinforcing gum arabic’s role as a soluble dietary fiber with prebiotic potential. This is pushing adoption in functional bars, RTD wellness beverages, and fiber -enriched gummies. It’s also being tested in infant nutrition formulations where mild prebiotics are preferred over harsher alternatives. Major food labs are now experimenting with gum arabic as a fiber booster in low-calorie and diabetic-friendly product lines — particularly in Southeast Asia and Europe. Traceability and Blockchain in Sourcing With over 80% of global gum arabic sourced from Africa’s “Gum Belt,” ethical sourcing and transparency are becoming selling points. Sudan, Chad, and Nigeria are under pressure to modernize supply chains. That’s opening the door to blockchain traceability initiatives, co-op based harvesting models, and agroforestry-linked certifications. An emerging differentiator in B2B supply contracts is now: “Can you trace this gum back to the harvester?” This is especially relevant for buyers under ESG mandates or for brands positioning themselves around regenerative supply chains. Microencapsulation and Flavor Delivery Gum arabic remains a gold standard for flavor encapsulation — especially for heat-sensitive compounds, spray-dried citrus oils, and vitamin additives. Recent innovations have improved payload efficiency and thermal stability, making it a top pick for powdered beverage mixes, instant teas, and dry sachets. Companies are pairing gum arabic with other natural gums (like guar or xanthan) for hybrid delivery systems that meet both functional and cost targets. Industrial and Non-Food Expansion: Still Niche, But Evolving In industrial sectors like lithographic printing and textiles, gum arabic is still used — but innovations here are more about sustainability than performance. In printing, for instance, water-based ink systems are leveraging gum arabic as a biocompatible dispersing agent. However, growth here remains modest compared to food and wellness categories. Innovation Partnerships Gaining Ground Leading suppliers and food brands are now co-investing in formulation labs to develop gum arabic variants optimized for niche uses: Low-viscosity gum for clear beverage emulsions High- fiber blends for health shots and fortification kits Spray-dried complexes that integrate actives like vitamins or plant-based flavors Expect more vertical integration between African cooperatives, EU-funded ingredient accelerators, and F&B innovation hubs in the next 2–3 years. Bottom line: Gum arabic is entering a reinvention cycle. From being seen as just a stabilizer, it’s now viewed as a clean, traceable, functional platform ingredient — one that can carry health claims, improve mouthfeel, and support ESG narratives all at once. 4. Competitive Intelligence and Benchmarking The gum arabic market doesn’t have the glossy visibility of mainstream food ingredients — but that doesn’t mean the competition is soft. In fact, the most successful players are those that combine deep sourcing roots in Africa with robust formulation support for global food and pharma brands. Here's how the top competitors are positioning themselves in 2024. Nexira A long-standing market leader, Nexira has deep relationships with African harvesting communities, particularly in Chad and Sudan. What sets them apart is not just volume — it’s their vertical integration. Nexira has invested in traceable sourcing programs, on-the-ground training for harvesters, and R&D support labs in Europe and North America. Their product line covers both Acacia Senegal and Acacia Seyal , with specialized variants for encapsulation, fiber enrichment, and emulsification. They also push hard on sustainability — often bundling gum arabic offerings with carbon offset and biodiversity metrics. Nexira's strategy is premium positioning backed by ESG credentials and application-specific customization. Kerry Group Kerry doesn’t produce gum arabic directly, but they’re one of the largest users — particularly in beverage systems, flavor carriers, and microencapsulation platforms. What gives Kerry its edge is its proprietary formulation expertise. They often blend gum arabic into multi-ingredient matrices and offer it as part of turnkey solutions to beverage and snack clients. They’re also active in exploring gum arabic alternatives, which puts them in both the demand driver and substitution innovator category. For clients who want a drop-in, ready-to-scale formulation, Kerry is often the partner of choice. Alland & Robert This French company focuses entirely on natural gums and is a top global supplier of gum arabic . Unlike some competitors, Alland & Robert remains deeply specialized — they don’t diversify across unrelated ingredients. That focus allows them to offer high-purity grades, excellent lot-to-lot consistency, and custom blends for niche applications like printing inks, confectionery glazes, and pharma coatings. They also work closely with academic partners on gum characterization, which has helped them build credibility in the pharmaceutical and nutraceutical segments. They’re the go-to for R&D-driven clients who want precision, consistency, and regulatory support. TIC Gums (a part of Ingredion) Now operating under the Ingredion umbrella, TIC Gums offers multi-functional gum systems and is pushing gum arabic as part of its clean-label portfolio. Their strength lies in product development labs that help formulators quickly iterate across texture, stability, and shelf life using gum arabic in combination with starches or proteins. They are also strong in North America, where gum arabic applications in plant-based beverages and sauces are on the rise. TIC/Ingredion is focused on functionality-first formulations that hit texture and stability KPIs for large-scale food manufacturers. Importers and Aggregators (e.g., Dar Savanna, Moubarmij , African Commodities Group) These regional players operate closer to the source — aggregating raw gum arabic from harvesting regions in Sudan, Nigeria, and Chad. While they don’t offer formulation expertise or global distribution networks, they’re key suppliers for bulk buyers looking for price efficiency. That said, these players are under pressure to modernize. Many lack the traceability tools or certifications now demanded by global food brands. For cost-sensitive buyers who want raw gum arabic in large volumes, these are essential — but not future-proof. Competitive Dynamics at a Glance Nexira and Alland & Robert dominate premium and pharma-grade segments. TIC Gums and Kerry are strong in formulation bundles and ready-to-deploy systems. Local exporters still serve bulk demand but are being edged out of premium segments due to traceability gaps. Innovation is moving upstream — toward source mapping, quality consistency, and ESG integration. At the end of the day, this market doesn’t reward the lowest cost. It rewards consistency, compliance, and creativity — and the top players all bring those to the table. 5. Regional Landscape and Adoption Outlook The global gum arabic market is shaped by an unusual dynamic: supply is concentrated in a few politically sensitive regions, while demand is geographically widespread and diversifying fast. This supply–demand mismatch is driving distinct regional strategies, depending on whether countries are importing, consuming, or producing gum arabic . Here’s how it breaks down. North America This region — led by the United States — remains one of the largest importers of gum arabic , especially Acacia Senegal . U.S. food and beverage companies use gum arabic widely in citrus drinks, emulsified syrups, and wellness powders. But the real game-changer is regulation. The FDA’s stance on clean-label and “natural additive” compliance continues to drive demand away from synthetic emulsifiers. Gum arabic is now seen as a safe harbor ingredient — functional, compliant, and label-friendly. There’s also rising interest from dietary supplement manufacturers, who are blending gum arabic into fiber -enhanced gummies, chewables , and gut-health products. Formulation labs in Chicago and California are quietly becoming R&D hubs for gum arabic –based beverage innovations. Europe Europe’s adoption is driven by two forces: regulatory alignment with natural inputs and a strong fiber -health culture. Countries like Germany, France, and the UK are integrating gum arabic into clean-label reformulations and prebiotic product lines. Moreover, Europe’s retail environment is stricter when it comes to transparency and origin tracing. That’s why European brands often insist on documentation of ethical sourcing, fair trade practices, and traceable supply routes — making it a hotbed for ESG-compliant gum arabic . Pharma-grade and nutraceutical use is also higher here, with gum arabic showing up in cough syrups, lozenges, and tablet coatings across major pharmacy brands. In France and Italy, small-batch confectioners are even touting “natural gum glazing” as part of premium positioning. Asia Pacific Asia Pacific is the fastest-growing market for gum arabic , with India , China , and Indonesia leading the way. The growth story here is primarily food-related — especially in flavored drinks, candies, and fortified snacks. As the region’s middle class expands, there’s more demand for processed foods with enhanced stability and shelf life. India is also tapping into gum arabic for Ayurvedic nutraceuticals and diabetic formulations , where natural fibers are preferred. Meanwhile, Chinese ingredient manufacturers are starting to import raw gum arabic and blend it locally to serve regional food brands. The challenge? Many brands still view gum arabic as a commodity input. Education around its fiber content, traceability, and clean-label advantages is just beginning to take hold. Expect a surge in gum arabic –infused gut health beverages and sugar-free confectionery in Asia over the next 3–5 years. Latin America, Middle East & Africa (LAMEA) Here’s where the duality shows. Africa is the world’s primary production hub — especially Sudan, Chad, and Nigeria. Yet local consumption remains low. Most gum is exported in raw form with limited value addition. Political instability and lack of infrastructure often delay exports or degrade quality. Middle East markets like the UAE and Saudi Arabia are emerging as re-exporters and reformulation hubs. Gum arabic is increasingly found in halal-certified functional beverages, bakery, and supplements. Latin America is at the early stages of adoption. Countries like Brazil and Mexico are beginning to use gum arabic in RTD (ready-to-drink) blends and pharmaceutical coatings — but local sourcing is nonexistent , so imports are key. There’s growing international interest in helping African producers move up the value chain — think drying plants, traceability software, and farmer cooperatives — but execution is still limited. Regional Outlook in Summary North America is regulation-led and favoring clean-label formulations. Europe is ESG-obsessed and the most traceability-conscious region. Asia Pacific is fast-growing but still catching up in terms of value-added applications. Africa supplies the world — but ironically consumes the least. Ultimately, the future of this market depends not just on where gum arabic is used — but where it’s processed, packaged, and positioned. 6. End-User Dynamics and Use Case Gum arabic doesn’t land in the market as a stand-alone product — it’s embedded inside formulations, processes, and end-user workflows. From multinational beverage companies to small pharma manufacturers and dietary supplement brands, every user segment interacts with gum arabic differently. The key factor? Whether they're chasing functionality, regulatory compliance, or label simplification. Food & Beverage Manufacturers This group remains the largest and most consistent end user of gum arabic . Beverage producers rely on it as a clean-label emulsifier — particularly for citrus flavors , essential oil carriers, and soft drink concentrates. As synthetic stabilizers like BVO face backlash, gum arabic is the default replacement. Confectionery brands use it in gummy candies, chewing gum, and as a natural glazing agent — especially where vegan formulations or Halal certification is required. Bakers and snack brands leverage gum arabic for moisture retention, texture smoothing, and fiber enrichment — particularly in gluten-free or keto formulations. For these manufacturers, gum arabic is often part of a broader functional toolkit. Many combine it with pectin or guar gum to meet shelf-life and stability targets. Pharmaceutical and Nutraceutical Companies In pharma, gum arabic plays a surprisingly multi-functional role. It acts as: A binder in tablets A coating agent for pills A suspension aid in syrups and elixirs A prebiotic in gut-health supplements It’s preferred for being inert, non-reactive, and safe for pediatric use. Also, regulatory bodies in both the EU and U.S. accept it as a GRAS (Generally Recognized As Safe) additive — lowering the compliance barrier. Nutraceutical brands are especially leaning into its fiber profile to support marketing claims like “gut-friendly” or “natural digestion aid.” Cosmetics and Personal Care Formulators This segment is still niche but growing. Gum arabic is used as a film-forming agent in serums, masks, and peel-off formulations. It also helps with stabilizing emulsions in lotions and hair treatments. The appeal? It’s natural, plant-based, and aligns with clean beauty trends. Major clean beauty brands are beginning to replace synthetic polymers with gums — and gum arabic is on the list, especially in Europe and South Korea. Industrial and Printing Users Though small in market share, this legacy segment still uses gum arabic in lithographic printing, ceramic glazing, and even inkjet formulations. Demand here is stable but stagnant — these users often buy in bulk, with little regard for origin or grade. Use Case Highlight A functional beverage brand in Germany was reformulating its popular vitamin C drink to remove synthetic stabilizers and improve fiber content. The R&D team explored several options, but most impacted flavor or clarity. They landed on a high-purity Acacia Senegal gum arabic variant. The ingredient provided clean emulsification of citrus oils, improved mouthfeel, and allowed the brand to list “natural fiber from acacia tree” on the label. Consumer feedback improved significantly — not just on taste, but on perceived health value. Within nine months, the reformulated drink outsold the original by 30%, and the company expanded the gum arabic formulation into other SKUs. Bottom line: Gum arabic’s versatility means it has no “single” user type. For large-scale F&B companies, it's a safe emulsifier. For pharma, it's a bio-inert excipient. For beauty brands, it’s a clean film-former. And across all of them, its ability to quietly deliver performance without sounding synthetic is what keeps demand steady. 7. Recent Developments + Opportunities & Restraints The gum arabic market is seeing more movement than it has in decades — not from commodity price swings, but from innovation in applications, shifts in sourcing models, and policy responses tied to ESG and food safety. Let’s break down the most relevant developments and emerging headwinds. Recent Developments (Last 2 Years) Nexira launches “ Inavea Pure Acacia” for gut-health beverages (2023) Positioned as both an emulsifier and a high-tolerance prebiotic, this product reflects the dual-function trend in functional drinks. It’s being adopted by wellness beverage startups in Europe and North America. Sudan’s political instability disrupts gum arabic supply chains (2023–2024) The military conflict has impacted key harvesting zones and triggered temporary export disruptions. In response, buyers are diversifying supply contracts to Nigeria and Chad while exploring warehousing hubs in Dubai and Rotterdam. Alland & Robert expands R&D partnership with French universities (2024) The focus is on gum arabic’s functional use in pharmaceutical excipients and natural food glazing agents. This partnership aims to document clinical-grade safety profiles for nutraceutical applications. Kerry invests in a new innovation center in the Middle East (2024) Though not a direct gum arabic supplier, Kerry’s new lab in Dubai will focus on reformulating beverage concentrates with clean-label inputs — gum arabic being a key emulsifier under testing. Blockchain-enabled traceability pilot launched in Chad (2024) A pilot involving a French flavor house and local cooperatives is testing digital harvest tracking, aiming to certify gum batches by origin, harvester, and drying method. Opportunities Fiber-Forward Formulations Gum arabic’s positioning as a soluble fiber opens new doors in diabetic-friendly foods, kids’ nutrition, and low-FODMAP diets. Beverage and bar makers are already integrating it for satiety and digestive support claims. African Value Chain Upgrades There’s strong potential for investment in local drying, sorting, and packaging units in Sudan, Nigeria, and Chad. Moving closer to value-added formats could improve quality, reduce spoilage, and increase exporter margins. Natural Replacements for Synthetic Additives In markets like California, Europe, and parts of Asia, regulation is tightening around synthetic emulsifiers and texturizers. Gum arabic is emerging as a viable, stable, and compliant alternative. Restraints Sourcing Volatility With over three-quarters of global production tied to politically sensitive areas, logistics are vulnerable to port closures, droughts, and unrest. This instability increases price risk and complicates long-term contracts. Technical Substitutes Gaining Ground While gum arabic is hard to fully replace, some companies are shifting to modified starches, alginates, or synthetic fibers due to easier sourcing and standardized pricing — especially in non-premium applications. 7.1. Report Coverage Table Report Attribute Details Forecast Period 2024 – 2030 Market Size Value in 2024 USD 865.7 Million Revenue Forecast in 2030 USD 1.23 Billion Overall Growth Rate CAGR of 6.1% (2024 – 2030) Base Year for Estimation 2024 Historical Data 2019 – 2023 Unit USD Million, CAGR (2024–2030) Segmentation By Type, Function, Application, Geography By Type Acacia Senegal, Acacia Seyal By Function Emulsifier, Stabilizer, Fiber Source, Film Former By Application Food & Beverage, Pharmaceuticals, Cosmetics, Printing & Industrial By Region North America, Europe, Asia-Pacific, Latin America, Middle East & Africa Country Scope U.S., Canada, Germany, U.K., France, India, China, Nigeria, Sudan, Brazil Market Drivers • Shift toward clean-label food systems • Increasing demand for dietary fiber in functional products • Greater regulatory pressure on synthetic emulsifiers Customization Option Available upon request Frequently Asked Question About This Report Q1. How big is the gum arabic market? The global gum arabic market is valued at USD 865.7 million in 2024. Q2. What is the CAGR for the gum arabic market during the forecast period? The market is expected to grow at a CAGR of 6.1% from 2024 to 2030. Q3. Who are the major players in the gum arabic market? Key companies include Nexira, Alland & Robert, TIC Gums (Ingredion), Kerry Group, and regional exporters in Sudan, Nigeria, and Chad. Q4. Which region dominates the gum arabic market? Europe leads in traceable, high-grade gum arabic consumption due to strong clean-label regulations and fiber-forward innovation. Q5. What factors are driving the gum arabic market? Growth is driven by demand for clean-label ingredients, plant-based dietary fibers, and natural emulsifiers in food, beverages, and supplements. Table of Contents for Gum Arabic Market Report (2024–2030) Executive Summary • Market Overview • Market Attractiveness by Type, Function, Application, and Region • Strategic Insights from Key Executives (CXO Perspective) • Historical Market Size and Future Projections (2022–2030) • Summary of Market Segmentation by Type, Function, Application, and Region Market Share Analysis • Leading Players by Revenue and Market Share • Market Share Analysis by Type, Function, and Application Investment Opportunities in the Gum Arabic Market • Key Developments and Innovations • Mergers, Acquisitions, and Strategic Partnerships • High-Growth Segments for Investment Market Introduction • Definition and Scope of the Study • Market Structure and Key Findings • Overview of Top Investment Pockets Research Methodology • Research Process Overview • Primary and Secondary Research Approaches • Market Size Estimation and Forecasting Techniques Market Dynamics • Key Market Drivers • Challenges and Restraints Impacting Growth • Emerging Opportunities for Stakeholders • Impact of Behavioral and Regulatory Factors • Technological Advances in Gum Arabic Global Gum Arabic Market Analysis • Historical Market Size and Volume (2022–2023) • Market Size and Volume Forecasts (2024–2030) • Market Analysis by Type: Acacia Senegal Acacia Seyal • Market Analysis by Function: Emulsifier Stabilizer Fiber Source Film Former • Market Analysis by Application: Food & Beverage Pharmaceuticals Cosmetics Printing & Industrial Regional Market Analysis • North America Gum Arabic Market Historical Market Size and Forecasts Country-Level Breakdown: U.S., Canada, Mexico • Europe Gum Arabic Market Country-Level Breakdown: Germany, UK, France, Italy, Spain • Asia-Pacific Gum Arabic Market Country-Level Breakdown: China, India, Japan, South Korea, Rest of Asia-Pacific • Latin America Gum Arabic Market Country-Level Breakdown: Brazil, Argentina, Rest of Latin America • Middle East & Africa Gum Arabic Market Country-Level Breakdown: GCC Countries, South Africa, Rest of MEA Competitive Intelligence • Nexira • Alland & Robert • TIC Gums (Ingredion) • Kerry Group • Regional Exporters and Aggregators Appendix • Abbreviations and Terminologies Used in the Report • References and Sources List of Tables • Market Size by Type, Function, Application, and Region (2024–2030) • Regional Market Breakdown by Segment (2024–2030) List of Figures • Market Drivers, Challenges, and Opportunities • Regional Market Snapshots • Competitive Landscape and Market Share Analysis • Growth Strategies Adopted by Key Players • Market Share by Type and Application (2024 vs. 2030)