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“Xanthan gum market is projected to grow at a CAGR of 3.25%”
The xanthan gum market, estimated at USD 373.6 million in 2016, is projected to grow at a CAGR of 3.25%, to reach USD 452.8 million by 2022. The growth in inclination of consumers toward convenience food is fueling the demand for xanthan gum, as it is used in various convenience food applications owing to its properties such as thickening and stabilizing. The market is majorly driven by factors such as increase in demand for gluten free products, multifunctionality of xanthan gum, and rise in demand for natural food additives. However, use of guar gum as a substitute for xanthan gum, is restraining the growth of the market. Growing oil & gas extraction and drilling activities, especially in North America and the Middle Eastern countries are paving new opportunities for the xanthan gum market.
“Food & beverages segment is projected to grow at the highest CAGR”
On the basis of application, the food & beverages segment, by application, is estimated to lead the market, followed by oil & gas, in 2016. Xanthan gum is a low fat and naturally obtained ingredient that is used in various food applications. Growth in awareness among consumers toward synthetic ingredients utilized in food products and increase in demand for low calorie food across the world enabled food processing companies to increase the use of xanthan gum as a food additive. This trend has resulted in a tremendous demand for xanthan gum in the food & beverages industry, which is expected to contribute to the growth of the xanthan gum market in the coming years.
“Asia-Pacific is projected to be the fastest-growing region in the global xanthan gum market”
Asia-Pacific is projected to be the fastest-growing market for the forecast period considered for this study, due to increase in demand for xanthan gum in food & beverage and personal care industries in this region. China is expected to lead the market for xanthan gum in the Asia-Pacific region for the next five years, as a result of growth in urbanization, rapid economic development, and change in lifestyles.
Break-up of primaries is as follows:
- By Company Type: Tier 1 – 50%, Tier 2 – 30%, and Tier 3 –20%
- By Designation Level: Director Level – 28%, C Level – 22%, and Others – 50%
- By Region: North America – 40%, Europe – 30%, Asia-Pacific – 21%, and RoW – 9%
Leading players profiled in this report:
- Cargill (U.S.)
- E. I. du Pont de Nemours and Company (U.S.)
- Archer Daniels Midland Company (U.S.)
- Solvay (Belgium)
- Fufeng Group Company Ltd (China)
- Ingredion Incorporated (U.S.)
- CP Kelco (U.S.)
- Jungbunzlauer Suisse AG (Switzerland)
- Deosen Biochemical Ltd. (China)
- Fuerst Day Lawson (U.K.)
The report segments the xanthan gum market on the basis of application, function, form, and region. In terms of insights, this research report has focused on various levels of analyses?trade analysis, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging & high-growth segments of the global xanthan gum market, high-growth regions, countries, government initiatives, drivers, restraints, and opportunities.
Reasons To buy this report:
- To get a comprehensive overview of the xanthan gum market
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- To gain insights about the major countries/regions in which the xanthan gum market is flourishing