Xanthan Gum Market by Application (Food & Beverages, Medical, Personal Care & Cosmetics, Oil & Gas, and Others) and Function (Thickening Agent, Stabilizing Agent, Suspending Agent, Fat Replacer, and Others): Global Opportunity Analysis and Industry Forecast, 2017-2023
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Global xanthan gum market was valued at $722 million in 2016 to reach $1,076 million, and is anticipated to grow at a CAGR of 5.9% from 2017 to 2023. Xanthan gum is a polysaccharide secreted by the bacterium Xanthomonas Campestris.
It owns several extraordinary and useful properties, such as change in viscosity at fluctuating temperatures, high viscosity at low concentrations, and excellent stability over a wide pH range. Moreover, it has the ability to increase the viscosity of the liquid by the addition of small quantity of gum as compared to other polysaccharides.
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It also provides good freeze-thaw stability and shows remarkable suspension characteristics. It is used as a stabilizer, emulsifier, thickener, suspending agent, fat replacer, and bodying agent in wide range of applications, such as food & beverages, personal care & cosmetic, oil & gas, medical, and other industrial applications.
In 2015, Asia-Pacific and North America were the leading regions, in terms of both value and volume. Asia-Pacific is the leading and fastest growing region for xanthan gum, owing to the increase in processed foods production and development in oil & gas production in China and India.
The growth of xanthan gum in North America is driven by the development of new technologies to enhance the quality of xanthan gum and the implementation of favorable regulatory policies. The factors that drive the global market are increase in demand for xanthan gum in food & beverages industry, rise in demand for gluten-free products, change in consumer preference, surge in consumption of convenience food products, and multi-functionality of xanthan gum in varied application areas.
However, high cost of xanthan gum and availability of relatively cheap substitutes and anti-dumping policies on xanthan gum hamper the market growth during the forecast period.
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The global xanthan gum market is segmented based on application, function, and geography. On the basis of application, it is divided as food & beverages, oil & gas, personal care & cosmetics, medical, and others.
On the basis of functions, it is categorized as thickening agent, stabilizing agent, suspending agent, fat replacer, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
In September 2016, CP Kelco announced a plan to build a new manufacturing facility in North America to enhance its xanthan gum and gellan gum production capacity and also expand its biogums manufacturing footprint in the region.
The major market players are as follows
- Fufeng Group Company Ltd.
- CP Kelco
- Cargill, Inc.
- Solvay S.A.
- E. I. Du Pont De Nemours and Company
- FMC BioPolymer
- MeiHua Holdings Group Co., Ltd.
- Archer Daniels Midland Company
- Ingredion Incorporated
- The Zoranoc Oilfield Chemical
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KEY MARKET BENEFITS FOR STAKEHOLDERS
- This report provides an extensive analysis of the current & emerging market trends and dynamics of the global xanthan gum market.
- In-depth analysis of all regions is conducted by constructing the market estimations for key segments between 2017 and 2023 to identify the prevailing opportunities.
- The report assists to understand the strategies adopted by the companies for market expansion.
- This study evaluates the competitive landscape to understand the market scenario across various regions.
- Extensive analysis is conducted by following the key player positioning and monitoring the top competitors within the market framework.
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