The global xanthan gum market is studied in detail in a new report from Market Research Future (MRFR). Global figures for the xanthan gum market are provided in the report, which also contains a detailed analysis of the markets leading growth drivers and restraints and leading segments.
Xanthan Gum Market Outlook is Projected to Reach USD 0.82 Billion by 2030, Exhibiting a CAGR of 4.73% from 2023 to 2030
Xanthan gum is a polysaccharide used in a wide range of industrial applications as a thickening agent, stabilizer, additive, and emulsifier. It is produced through the fermentation process facilitated by gram-negative Xanthomonas campestris bacteria. Xanthan gum has excellent binding properties, due to which its demand has risen steadily in the food and beverage industry. The growing demand for packaged and pre-prepared foods is likely to be a major driver for the xanthan gum market over the forecast period, as xanthan gum is widely used to maintain a suitable, attractive appearance and structure in a number of food products. The growing food and beverage industry in emerging Asia Pacific economies could play a key role in the growth of the global xanthan gum market, as the growing disposable income of consumers in this region has presented the food and beverage industry with significant scope for growth.
The oil and gas industry could also play a key role in the growth of the global xanthan gum market over the forecast period. Xanthan gum is used in various oil and gas industry applications as a filling agent and stabilizer and is likely to benefit from the growing demand for offshore exploration of oil and gas as well as the rising emphasis on maximizing the outputs of existing onshore oil and gas terminals. The growing demand for unconventional exploration and production of oil and gas is likely to be a major driver for the global xanthan gum market, as xanthan gum is widely used to fill exploration sites and draw out petroleum fuels.
Segmentation:
The global xanthan gum market is segmented on the basis of the form, function, and application.
On the basis of form, the market is segregated into dry and liquid segments.
On the basis of the function, the global xanthan gum market is segmented into thickeners, stabilizers, gelling agents, fat replacers, and coating materials.
By application, the global xanthan gum market is segmented into food beverages, oil gas, pharmaceuticals, and others. Food and beverages holds a dominant share of around 32% in the global xanthan gum market, although the oil and gas and pharmaceutical industries also hold comparable shares of around 30%. These three are likely to remain the key consumers of xanthan gum over the forecast period due to the growing demand for xanthan gum around the world.
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Regional Analysis:
The global xanthan gum market is segmented into North America, Latin America, Europe, the Middle East and Africa, and Asia Pacific.
North America is likely to be a major regional market for xanthan gum over the forecast period due to the growing demand for xanthan gum from the food and beverage and pharmaceutical industries. The growing demand for capsules and tablets in the U.S., where the pharmaceutical industry has set up a solid presence in recent years, is likely to be a major driver for the global xanthan gum market over the forecast period. The growing food and beverage industry in the region is also likely to be a major driver for the global xanthan gum market in North America, as several key players in the global food and beverage industry have headquarters and/or manufacturing plants in North America.
Asia Pacific is likely to observe rapid growth over the forecast period due to the growing demand for xanthan gum in the food and beverage industry. The growing pharmaceutical industry in Asia Pacific could also be a major driver for the global xanthan gum market over the forecast period.
Competitive Analysis:
Leading players in the global xanthan gum market insight are Cargill Inc., Archer Daniels Midland Company, Fufeng Group Limited, CP Kelco, Deosen Biochemical Ltd., Fuerst Day Lawson, Jungbunzlauer Suisse AG, Ingredion Incorporated, Solvay, and DuPont.
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