At 6.2% CAGR, Xanthan Gum Market will reach USD 1,269.6 Million ,Globally by 2021
According to the report, published by Zion Market Research, global demand for xanthan gum market was valued at USD 880.5 million in 2015, is expected to reach USD 1,269.6 million in 2021 and is anticipated to grow at a CAGR of 6.2% between 2016 and 2021.
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Xanthan gum is a polysaccharide derived from raw materials such as wheat, corn or soya. The raw material is fermented with bacteria named Xanthomonas campestris. Xanthan gum is primarily utilized as an additive and rheology modifier in the food industry. It is widely used as a thickening and stabilizing agent and possesses high viscosity. Additionally, xanthan gum helps to stimulate the digestive system and also help to produce saliva in the mouth. It has the broad range of applications including pharmaceutical, food and beverages, cosmetics, oil and gas and others.
The global Xanthan gum market is primarily driven by rapidly increasing demand from the food industry across the globe. Additionally, growing usage of Xanthan gum in oil and gas industry is expected to drive the demand in near future. However, the potential threat of substitution from guar gum is expected to negatively impact the market growth. Nonetheless, increased investment in R&D by major companies is likely to generate new growth avenues for the market players within the forecast period. However, the potential threat of substitution from guar gum is expected to negatively impact the market in the forecast period.
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On the basis of application, the global Xanthan gum market is classified into oil & gas, food & beverages, pharmaceutical, cosmetics and others (including adhesives, textiles, lubricants, etc). Among all segments, oil and gas were the largest application segment of Xanthan gum market in 2015. It accounted for around 42% share of the entire volume consumption in 2015. Oil and gas segment is also expected to be one of the fastest growing segments of Xanthan gum market owing to increasing oil and gas products coupled with advancing investment and technology for oil & gas production. Food & beverages were the one of the largest application segment of Xanthan gum market in 2015 owing to increasing demand for food industry applications. Pharmaceutical, cosmetics, and other application segments are considered to have moderate growth of xanthan gum market in coming years.
Geographically, Asia-Pacific was the largest market for Xanthan gum in 2015. It accounted for more than 50% share of the total volume of Xanthan gum market. Furthermore, this trend is expected to continue in near future. The market growth in the region is mainly attributed by advancing technologies and developing infrastructure for oil & gas production especially in emerging economies such as China, India, and Japan. Asia Pacific was followed by North America and Europe in 2015. North America and Europe are estimated to have decent growth for xanthan gum in near future. Furthermore, Latin America, Middle East, and Africa are projected to witness the moderate growth for xanthan gum market owing to the rising demand for oil & gas fracturing process and emerging food & beverages industry in the region within the forecast period.
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Some of the key manufacturers of global Xanthan gum market include Fufeng Group Company Ltd, Cargill, Hebei Xinhe Biochemical Co Ltd, Archer-Daniels-Midland Company, Deosen Biochemical Ltd, Gum Technology Corporation, Meihua Holdings Group Co. Ltd, DuPont, CP Kelco U.S. Inc, Wego Chemical Group and Jungbunzlauer AG.
The global Xanthan gum market has been segmented as follows:
Xanthan Gum Market: Application Analysis
- Oil & gas
- Food & beverages
- Others (Adhesives, textiles, lubricants, etc.)
Xanthan Gum Market: Regional Analysis
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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