The global Xanthan Gum market was valued at US$ 383.0 million in 2016, according to Global Xanthan Gum Market Report, by Form (Dry & Liquid), by Function (Thickeners, Stabilizers, Fat Replacers, Coating Materials, Gelling Agents, and Others), and by End-use Industry (Food & Beverages, Pharmaceutical, Oil & Gas, Agrochemicals, Paints & Coatings, and Others) published by Coherent Market Insights. The xanthan gum market is expected to register a CAGR of 3.38% during the forecast period (2017 - 2025), reaching US$ 507.6 million by 2025.
Major factors propelling growth of the xanthan gum market include growing demand for gluten-free food products and the growing oil and gas industry worldwide. Xanthan gum is extensively used in its dry form, mainly in pharmaceutical products and in the manufacturing of products such as toothpastes, tablets, salad dressings, bakery products, and frozen food. The increasing demand for these products has in turn, boosted the market for xanthan gum.
Availability of substitute products and high costs associated with production of xanthan gum are some of the major factors hindering growth of the xanthan gum market.
Browse 150 market data tables* and 80 figures* on ""Xanthan Gum Market" - Global forecast to 2025.
Key Trends and Analysis of Xanthan Gum Market:
• Among end-use industry, the food and beverages segment accounted for the major share in the xanthan gum market in 2016 and is expected to retain its dominance throughout the forecast period. On the basis of form, the dry segment held a dominant position in the market in 2016 due to its ease of application as compared to its liquid counterpart.
• Among function, the thickeners segment held a dominant position in the global xanthan gum market in 2016 and is expected to retain its dominance throughout the forecast period. Furthermore, xanthan gum as a gelling agent is also gaining popularity, owing to its high solubility and ability to rapidly convert into gel.
Key Takeaways of the Market:
• North America held a dominant position in the global xanthan gum market and was valued US$ 136.3 million in 2016. The region is projected to witness a CAGR of 3.16%, in terms of revenue during the forecast period. In addition, the U.S. led the market in 2016 and is expected to retain its dominance throughout the forecast period, owing to the high penetration of xanthan gum in the oilfield sector and steady growth of the drilling & shale gas industry in the region. The U.S. and Canada recorded tremendous growth in the shale gas and oil industry over the past decades due to various technological advancements including horizontal drilling and multi stage hydraulic fracturing from multi-well pads and according to U.S. Energy Information Administration (EIA), in 2013, the U.S. gas reserves expanded to 9.3 trillion m3, which was around 13 times more than the annual consumption in the country. The robust growth of the oil and gas sector is thus augmenting growth of the xanthan gum in the region.
• Asia Pacific is projected to be the fastest growing market, witnessing the highest CAGR of 4.09% during the forecast period, owing to the growing adoption of xanthan gum as a thickener, stabilizer, flavor enhancer, and emulsifier in the food & beverages industry. In 2016, China held a dominant position in the xanthan gum market in Asia Pacific due to high demand for processed food in the country. In 2014, per capita disposable income grew by 8% in China. Increasing demand for relatively safer and quicker processed food is, subsequently increasing the demand for xanthan gum in the country. Furthermore, rampant developments in the oil and gas production and growing pharmaceuticals industry are expected to contribute to the overall growth of the xanthan gum market in the region.
The key players operating in the global market of xanthan gum include CP Kelco, Cargill Inc., E. I. Du Pont De Nemours and Company, Fufeng Group Company Ltd., FMC BioPolymer, Archer Daniels Midland Company, Fuerst Day Lawson, Zoranoc Oilfield Chemical Co., Ltd, and Ingredion Incorporated.
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