Global Xanthan Gum Market is valued at USD 373.6 Million in the year 2016. However, it is anticipated to touch USD 452.8 Million by the year 2022 at 3.25% of CAGR (Compound Annual Growth Rate) throughout the forecast period.
Xanthan gum comes with a long list of applications. The increasing demand for convenience food in the market has further escalated the market of xanthan gum.
Global Xanthan Gum Market: The Current Scenario
- Nowadays, more and more people have started opting for gluten-free food products as well as beverages. That is why the market for additives is also escalating. Hence, the global market of xanthan gum is increasing over the years.
- Moreover, the requirements for oil recovery operations are also on the rise. It is also acting as a driving force to grow the global xanthan gum market.
- The global xanthan gum market is experiencing the interests of new players, which is further ensuring market growth. Some of the key players in the industry are taking solid initiatives to stand out and boost their positions in the market. Furthermore, partnerships and joint ventures are also anticipated to strengthen the worldwide xanthan gum market.
Global Xanthan Gum Market: Application Insights
- The demand for food and beverage was estimated at USD 310.3 in the year 2013. Moreover, the market was anticipated to expand at 6.0% of CAGR (Compound Annual Growth Rate) from 2014 to 2020.
- The primary applications of xanthan gum can be seen in toppings, dairy products, salad dressings, and frozen & baked foods. These multiple applications of xanthan gum have been possible due to its striking properties, including thermal stability, stabilization, and suitability for functional elements.
- The upstream oil and gas segment is currently experiencing the applications of drilling fluids in the form of a lubrication solution. This factor is working towards the growth of the global xanthan gum market.
- Xanthan gum exhibits decent emulsification and thickening properties. That is why it has been popular in the upstream oil & gas industry. This factor is expected to pose a positive influence on the global xanthan gum market.
- The growth of the oil and gas industry is expected to fuel drilling for exploration as well as production. It is further helping to expand the global xanthan gum market.
- Moreover, xanthan gum is also used to provide stability to liquid medicines. Besides, it can also ensure good flow in emulsions as well as suspensions.
- Nowadays, a long list of drugs is making use of xanthan gum to escalate the active ingredients’ contact time. Moreover, xanthan gum can also slow down the release of drugs in tablets. All these factors are anticipated to increase the demand for xanthan gum in various pharmaceutical applications throughout the forecast period.
- Xanthan gum has various applications in the cosmetic industry as well. Experts make use of xanthan gum in manufacturing water gels in the presence of bentonite clays.
- Xanthan gum is also used in oil-in-water emulsions when it comes to stabilizing oil droplets against coalescence.
The global xanthan gum market is segmented based on application, form, application, and region.