The global xanthan gum market displays an extremely consolidated business landscape, states a new research report by Transparency Market Research (TMR). The key vendors of xanthan gum are CP Kelco, Fufeng Group Co. Ltd., and Deosen. In 2015, these three players collectively accounted for a share for around 58% in the global market. Considering the current market condition, the scenario is likely to remain so over the next few years. These players are aggressively focusing on maintaining their stronghold on this market diversifying their product portfolio. In addition to premium products, they are also emphasizing on offering budget products to lure the middle class consumers. Cargill Inc., The Aurora Chemical, Archer Daniels Midland Co., Jungbunzlauer Suisse AG, MeiHua Holdings Group Co. Ltd., Hebei Xinhe Biochemical Co. Ltd., DuPont-Danisco, Solvay S.A., The Zoranoc Oilfield Chemical, and FMC BioPolymer are some of the other prominent players in this market, reviewed in this report.
According to this research report, the global market for xanthan gum was at US$651.5 mn in 2015. Rising at a steady CAGR of 7.70% over the period from 2016 to 2024, the market’s opportunity is anticipated to reach US$1.25 bn by the end of the period of the forecast. The food and beverages sector has emerged as the key end user of xanthan gum and is anticipated to remain so over the next few years, reports the market study.
Asia Pacific to Continue to Lead
In terms of the geography, the global market for xanthan gum is led by Asia Pacific. The regional market acquired approximately 35% of the overall market in 2015. Thanks to the to the significantly rising demand for xanthan gum in China, Asia Pacific is likely to remain on the top of the game over the forthcoming years. Apart from this, the expanding bases of the leading xanthan vendors in Asia Pacific is also projected to boost this regional market in the years to come. Among other regional markets, North America is anticipated to report a considerably better growth over the coming years, states the research study.
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Rising Demand for Xanthan Gum in Food Products to Support Growth
“The properties of xanthan gum as an excellent thickener and stabilizer has fueled its uptake in the food and beverage industry, leading to a remarkable rise in the global xanthan gum market,” says a TMR analyst. With the increasing rate of food consumption among the urban population across the world, the demand for xanthan gum is likely to augment, substantially, in the near future. The significantly rising demand for processed convenience food products is also projected to support the growth of this market over the next few years, reports the research study.
The review is based on a report by Transparency Market Research (TMR), titled “Xanthan Gum Market (End Users – Food & Beverage (Bakery and Confectionery, Dairy and Ice Cream, Meat and Fish, Beverages, and Sauces and Dressings), Oil & Gas, Pharmaceutical, Personal Care, Agrochemicals, Lab Research, Paints, and Printing Inks) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.