Global Xanthan Gum Market is expected to foresee significant growth. APAC to lead the growth!
- Himanshu Patni
- July 13, 2023
- CONSUMER GOODS, NEWS
- Xanthan Gum Market, Xanthan Gum Market Size
- 0 Comments
Xanthan gum is a chain of sugar blocks that is made by fermenting simple sugar with a specific kind of bacteria. Due to its medical utility in lowering blood sugar and total cholesterol, xanthan gum has recently seen a considerable increase in demand globally. Additionally, xanthan gum is utilized as a bulk-forming laxative to treat constipation and as an alternative to saliva for patients with dry lips. Also, it is expected that rising oil demand and technological developments like enhanced oil recovery would increase oil output, driving up demand for the xanthan gum used in the oilfield for mud treatment and well completion. Furthermore, the increasing food & beverage industry and growing adoption of xanthan gum as the stabilizer and thickener in the food industry is also expected to support the market growth.
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The Xanthan Gum Market is expected to grow at a steady rate of around 6% during the forecast period (2022-2028) owing to the increasing utilization of xanthan gum as the stabilizing and thickening agent in toothpaste, food, and medicine coupled with its use as emulsion stabilizer & water-binder in lotion and cream. Major companies in the market are focusing to provide xanthan gum with technologically advanced features and focusing on investment along with collaboration, merger & acquisition. For instance, in September 2021, CP Kelco enlarged its distribution partnership with Azelis in Australia and New Zealand.
Based on application, the market is segmented into oil & gas, food & beverage, pharmaceutical & personal care, and others. The food & beverage segment is expected to witness significant growth during the forecast period due to their growing adoption in the food industry as an additive for frozen food and dairy product. Additionally, xanthan gum aids in the acceptance of gluten-free snacks by giving them a textural similarity to wheat and other foods. Also, xanthan gum is utilized in a variety of different food products, such as meat and poultry, sauces and dressings, bakery goods, candies, and more. Xanthan gum is widely used as a thickening agent for food with a swallowing impairment since it does not alter the flavor or color of the food.
Based on form, the market is categorized into dry and liquid segments. The dry segment is expected to witness significant market growth during the forecast period due to its added advantages to using liquid. Dry xanthan is suitable as the thickening agent, suspending agent, and stabilizing agent owing to its properties to mix with liquid and gives the required viscosity. Also, dry xanthan is used in the form of powder for a variety of applications including medical, food, and other application.
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For a better understanding of the market adoption of the xanthan gum industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the increasing adoption in the food & beverage industries along with the expansion of the beauty & cosmetic industry, and oil & gas industry among others. Additionally, the region’s rising economies and increase in personal purchasing power are expected to boost market expansion. Additionally, the increasing demand for oil & gas and exploration activities in the countries such as China, Malaysia, and India are expected to propel the demand for xanthan gum in the region. Furthermore, the rising awareness of individuals toward the dermatological condition and increasing adoption in the medicinal industry contributes to the growth in the region. Moreover, the increasing investment along with the new product launch and growing research & development activities in the region is expected to propel the demand for the xanthan gum during the forecast period.
Some of the major players operating in the market include Cargill Inc., Archer Daniels Midland Company, Solvay, Cp Kelco, Fuerst Day Lawson, Ingredion Incorporated, Fufeng Group Company Ltd, FMC Biopolymer, DuPont Danisco, and Meihua Holding Group Co.
Global Xanthan Gum Market Segmentation
Market Insight, by Function
· Stabilizing Agent
· Thickening Agent
· Fat Replacer
· Suspending Agent
· Others
Market Insight, by Form
· Dry
· Liquid
Market Insight, by Application
· Oil & Gas
· Food & Beverage
· Pharmaceutical & Personal Care
· Others
Market Insight, by Region
· North America
o US
o Canada
o Rest of North America
· Europe
o Germany
o United Kingdom
o France
o Italy
o Spain
o Rest of Europe
· Asia-Pacific
o China
o Japan
o India
o Rest of Asia-Pacific
· Rest of the World
Top Company Profiles
· Cargill Inc.
· Archer Daniels Midland Company
· Solvay
· Cp Kelco
· Fuerst Day Lawson
· Ingredion Incorporated
· Fufeng Group Company Ltd
· FMC Biopolymer
· Archer Daniels Midland Company
· DuPont Danisco