The new report by Expert Market Research titled, ‘Global Xanthan Gum Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the global xanthan gum market, assessing the market based on its segments like forms, functions, applications, and regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 1080.69 Million
- Forecast CAGR (2023-2028): 10%
- Forecast Market Size (2028): USD 1541.68 Million
The xanthan gum market is being driven by the thriving food and beverage industry in the emerging economies across the world. Xanthan gum is widely used as a thickening agent in the food and beverage industry and can enhance the texture of the food, which makes it applicable in diversified cuisines. The worldwide increase in the sales of condiments owing to their increasing inclination application in the clean-labelled food products are anticipated to augment the market in the forecast period.
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In addition to this, the growing popularity of bakery and confectionary products, such as biscuits, pastries, and cake, among others, is anticipated to further propel the market growth. Moreover, the growing utility of xanthan gum in the oil and gas industry as a viscosifier is likely to provide further impetus to the market growth in the forecast period. Geographically, North America is anticipated to witness a steady growth in the forecast period owing to the growing expansion of the oil and gas, personal care and cosmetics industry.
Industry Definition and Major Segments
Xanthan gum refers to a polysaccharide which possesses properties such as stability to heat, stability to acid and alkali and stability to salt. The compound is procured by the fermentation of carbohydrates present in Xanthomonas Campestris. It is widely used as a thickening agent. In addition to this, the product is extensively used in various industry verticals, such as oil and gas, pharmaceutical, and cosmetics, among others.
On the basis of form, the market is bifurcated into:
- Liquid
- Powder
The significant functions of xanthan gum include:
- Thickening Agent
- Stabilising Agent
- Suspending Agent
- Fat Replacer
- Others
The major applications of xanthan gum include:
- Food and Beverages
- Oil and Gas
- Pharmaceuticals
- Cosmetics
- Others
The regional markets for xanthan gum include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Market Trends
The increasing sales of the personal care and cosmetics products owing to the emergence and expansion of e-commerce giants, such as Amazon, is likely to be a key trend in the market. Meanwhile, the growing R&D activities in the pharmaceutical industry owing to the rising cases of chronic illness is likely to be another major trend in the market, which will propel the demand for xanthan gum in the forecast period.
The global increase in the demand for natural gas and crude oil is anticipated to invigorate the global oil and gas industry, which will propel the demand for xanthan gum in the forecast period.
Key Market Players
The major players in the market are Cargill, Incorporated, Archer Daniels Midland Company, BASF SE, Ingredion Incorporated, and Deosen Biochemical Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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