Xanthan Gum Market Competitor Strategy | Size, Value Share, Emerging Audience, Business Statistics, Rapid Growth, Leading Demand and Forecast to 2024
Pune, Maharashtra, February 26 2020 (Wiredrelease) Market Research Future Global Xanthan Gum Market is projected to grow at a significant rate of 4.5% from 2019 to 2024 to reach a market value of USD 1.2 billion by the end of 2024. Xanthan gum, a natural polysaccharide, finds its applications in industries such as food beverages, personal care cosmetics, and pharmaceutical sector. Xanthan gum can increase the viscosity of a solution dramatically. Resultantly, it is used as a natural thickener in various food and personal care products, including lotions, liquid soaps, shampoos, and toothpaste, etc. The addition of xanthan gum also prevents the separation of emulsions and assists in the suspension of solid particles; hence, it is utilized as an excipient in various pharmaceutical products. The global xanthan gum market size is increasing continuously over the past few years. Increasing consumption of xanthan gum in the production of processed food items and augmenting demand for convenience food is a major driving force behind the market growth. According to Market Research Future (MRFR), the global xanthan gum market is projected to reach a valuation of USD 1.2 billion by 2024, registering 4.5% CAGR during the review period (2019-2024).
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The market is anticipated for strong growth across a wide variety of applications as the industries such as food beverage and personal care, increasingly seek naturally derived and clean-label ingredients for their new product formulations. Additionally, factors such as increasing pollution and rapid urbanization industrialization, substantiate the growth of the market. The improving global economy supports the market growth, increasing consumers health wellness expenditures, and improving their quality of life. On the other hand, the availability of substitute materials such as guar gum, that can offer similar benefits are likely to hamper the growth of the market during the forecast period. Nevertheless, advances in production techniques would support market growth extensively throughout the review period.
Highly competitive, the Xanthan Gum Market appears to be well established with the presence of several large and small-scale players. Some of them are having an excellent international presence. Producers strive to develop their products with advanced technologies using natural ingredients. Key trends observed among the market players include mergers acquisitions, collaboration, expansion, and product launch.
Manufacturers of xanthan gum strive to innovate products that are low in calories while meeting high-quality standards. As not all foreign brands are available in the local market, manufacturers compete on crafting the products that are affordable for local consumers. Players find immense growth opportunities in India due to the enormous demand for confectionery products.
Players leading the Global Xanthan Gum Market include Kelco U.S., Inc. (India), Fufeng Group Ltd. (Japan), Cargill, Incorporated (US), DuPont de Nemours, Inc. (US), Solvay (Belgium), FMC Corporation (US), Archer Daniels Midland Company (US), Meihua Holdings Group Co., Ltd. (China), Ingredion Incorporated (US), Deosen Biochemical Ltd (China), The Zoranoc Oilfield Chemical (China), Hebei Xinhe Biochemical Co Ltd (China), Fuerst Day Lawson (UK), Jungbunzlauer Suisse AG (Switzerland), Vanderbilt and Minerals, LLC. (US), among others.
Industry/ Innovations/Related News
December 03, 2019 CP Kelco, a global leader of nature-based ingredient solutions, announced signing a new distribution agreement with IMCD Brasil for its wide range of products in Brazil. CP Kelcos key product lines include pectin, gellan gum, diutan gum, carrageenan, and xanthan gum, which are used in a wide range of foods, beverages, beauty, and consumer industrial products.
The extension of the strategic distribution alliance with IMCD would enable CP Kelco to expand its market coverage as well as to serve customers in North America and the Brazilian market with high efficiency agility.
The report has been segmented into four major dynamics.
By Form: Dry and Liquid
By Function: Thickener, Stabilizer, Fat Replacer, Coating Material, and others.
By Application: Food Beverages (Bakery Confectionery, Beverages, Dairy Frozen Desserts, Sauces, Dressings Dips, Meat, Poultry, Seafood, others), Pharmaceuticals Nutraceuticals, Personal Care, and others.
By Regions: Europe, Americas, Asia Pacific, Middle East Africa, and Rest-of-the-World.
North America would continue dominating the global xanthan gum market during the forecast period. Factors such as the rising inclination towards maintaining a healthy lifestyle and adopting healthy food habits drive the growth of the regional market. Besides, well-spread awareness about the side effects of artificial or synthetic additives in food and personal care products foster regional market growth.
Rising skin concerns led by the use of synthetic chemical additives are encouraging manufacturers of skincare products to use eco-friendly natural additives in cosmetic products, which, in turn, is driving the growth of the North American xanthan gum market.
The xanthan gum market in Europe is projected to witness substantial growth throughout the review period. Factors such as the healthy economic growth and increasing consumption of xanthan gum in various food products and cosmetics, foster the regional market growth. Germany, among other European countries, accounts for the major contributor to the growth of the regional market. The Europe xanthan gum market is estimated to grow further at a phenomenal CAGR during the assessment period.
The Asia Pacific xanthan gum market has emerged as a promising market globally. A large consumer base in this region propels the market growth. Besides, the massive demand for natural food additives from the food processing beverage making companies boosts the market growth in the region. Additionally, increasing usages of xanthan gum in cosmetics and pharmaceutical products drives a huge share of the regional market. The APAC xanthan gum market is expected to grow at the highest CAGR during the upcoming period.
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