Global Xanthan Gum Market - Growth, Trends, and Forecasts (2017 - 2022)
Xanthan Gum Market The market accounted for USD XX billion in 2016 and is expected to reach USD XX billion by 2022, witnessing a CAGR of 6.17% during 2017-2022 (forecast period). Increasing application of xanthan gum in various industries, such as cosmetic and healthcare are expected to provide an anticipated boost to the global xanthan gum market during the forecast period.
Growth in Gluten-Free Products
Gluten-free products gained attention as substitutes of wheat-based products. North America holds a major share in the market, due to the high acceptance of products and wide availability in all the stores. The market for xanthan gum products is fragmented and highly competitive. However, it is witnessing a double-digit growth rate due to high demand form the BRIC nations and the increasing gluten-intolerance population.
Corn and soybean are the major ingredients used to produce the xanthan gum. Though wheat is one of the sources, the growing demand for gluten-free labeling and regulatory guidelines of the EU, USDA, and FDA, regarding the limit of gluten in the products, are driving the market for gluten-free xanthan gum products.
Xanthan Gum, as Thickener, Occupies a Major Share in the Market
Thickeners are widely used in sauces, bakery products, beverages and dairy products. For instance, xanthan gum maintains the suspension in beverages, to result in a homogenized drink. As a thickener, it is used in F&B and cosmetics.
Food & Beverage and Oil & Gas are Competing to Hold a Major Share of the Xanthan Gum Market
Xanthan gum has wide applications in the food & beverages industry that include bakery, beverages, dairy, dressings & sauces, filling, frozen desserts, meat, fruit, syrups and toppings. The gum acts as a stabilizer, emulsifier and thickening agent. Due to the growing demand for processed food, xanthan gum applications are expected to grow during the forecast period.
The oil & gas industry consumes xanthan gum for its versatile rheology control in brines, drilling and fracturing fluids. The market is on a growth trajectory, due to xanthan gum’s non-hazardous and environment-friendly characteristics. However, the strong impacts of the application in both, food & beverage and oil & gas industries are competing to occupy a major share.
Some of the Key Players in the Xanthan Gum Industry are:
Cargill Deosen Biochemical Ltd. E. I. Du Pont De Nemours and Company Fuerst Day Lawson Fufeng Group Company Ltd. Archer Daniels Midland Company Cp Kelco Our report on the global xanthan gum covers the following: