According to a new market report published by Credence Research, “Xanthan Gum Market Growth, Future Prospects and Competitive Analysis, 2017 – 2025,” the global xanthan gum market is expected to at a CAGR of 5.8% in terms of value from 2017 to 2025.
The global xanthan gum market is expected to witness high growth during the forecast period 2017 to 2025. Strong demand from oil & gas industry and food & beverages industry is anticipated to drive the demand for the xanthan gum in upcoming years. The global xanthan gum market is projected to grow a CAGR of 5.8% in terms of value from 2017 to 2025.
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On the basis of applications, the global Xanthan Gum market is segmented into oil & gas, food & beverages, pharmaceutical, cosmetics and others (Paper, Coatings, etc.) applications. Among these, oil & gas segment dominated the market. This segment is projected to maintain its dominance over the next eight years. Xanthan gum is mainly used as thickener and stabilizer agent in emulsions and suspensions, it is more prominently used in the Food industry. It is also used in many chemical applications such as adhesives, ceramic glazes, drilling muds, foundry compounds, latex emulsions, lubricants, paints and coatings, paper, pesticides, textiles, etc.
- Food & Beverages
- Oil & Gas
- Others (Paper, Coatings, etc.)
For the purpose of this study, the global xanthan gum market is categorized into regional markets viz., North America, Europe, Asia Pacific and Latin America and Middle East and Africa. In base year 2016, Asia pacific was observed as the largest market for xanthan gum. In Asia Pacific, China and India serve potential markets for xanthan gum in the next five to six years. Usage of xanthan gum in bakery products & medicines is approved from regulatory bodies such as USDA and FDA, this is likely to drive the market for xanthan gum in upcoming years.
Furthermore, xanthan gum market is moderately consolidated due to the presence of a few established players. Companies present in Asia pacific and Eastern Europe are extensively focusing on research and development and expanding their business network, across regional markets. Cargill, Inc., CP Kelco, Deosen Biochemical Ltd., E. I. du Pont de Nemours and Company, Fufeng Group Company Limited, Jungbunzlauer Suisse AG, Pfizer Inc., QINGDAO UNICHEM INTERNATIONAL TRADE CO. LTD., Solvay S.A. and The Archer Daniels Midland Company are among the few key manufacturers in xanthan gum market.
- Increase in Consumption of Convenience Foods
- In 2016, APAC led the market in terms of xanthan gum consumption
- Increasing array of applications
- Increasing in Demand for Natural Food Additives
- Strong demand from emerging economies