According to study, “World Xanthan Gum Market Research Report 2024(Covering North America, Europe, China, South East Asia, Japan and India)” the key companies operating in the world xanthan gum market areKelco U.S., Inc., Cargill Inc., ADM, Solvay, FMC Corporation, Gum Technology, DuPont Danisco, Vanderbilt Minerals, LLC, Jungbunzlauer Suisse AG, TIC Gums, Deosen Biochemical Ltd., Fufeng Group Ltd., MeihuaHoldings Group Co., Ltd., Archer Daniels Midland Company, The Zoranoc Oilfield Chemical, Qingdao Unionchem Co Ltd., CpKelco, Fuerst Day Lawson, HebeiXinhe Biochemical Ltd.,Sancho & Lee Co. Ltd., Ingredion Incorporated. Key companies are increasingly investing in research & developments (R&D) activities and focusing aggressively on initiating new strategies to boost global business reach.
Xanthan gum is a polysaccharide (natural) and an important industrial biopolymer, also known as bacterial polysaccharide, and corn sugar gum. It is one of the most flexible elastic thickeners which performs well in lesser quantities. It is highly soluble in both cold & hot water and has the ability to fascinate more water than its own weight & capability to form a gel. It is highly viscous at low polymer concentrations. It is commonly used as a stabilizing & thickening agent in a wide variety of food or industrial products. Moreover, it is considered as a safe additive for a wide range of drilling, brines, and fracturing fluids. The key properties are high viscosity at low concentrations, pH & electrolyte variations, insensitivity to a wide range of temperature, and pseudo plasticity.
Based on form type, xanthan gum market is segmented into liquid form and dry form. Based on function type, market is segmented into thickeners, gelling agents, stabilizers, coating materials, fat replacers and other functions. In addition, based on application, market is segmented into food & beverages, pharmaceutical & personal care, oil & gas and other applications. Food & Beverages segment is further sub-segmented into bakery products, sauces & dressings, confectionery products, beverages, meat & poultry products, dairy products and others.
The xanthan gum market is driven by increase in demand for gluten-free products, followed by rise in demand in food & beverages industry, rise in disposable income, increase in availability of shale gas & tight oil, growth in awareness towards the effective binding properties, expansion of retail stores, rise in environment friendly characteristics of the product,multi-functionality of xanthan gum resulting in various application areas and change in consumer preference coupled with rise in consumption of convenience food products. However, anti-dumping policies on xanthan gum and high cost of xanthan gum & availability of relatively cheap substitutes may impact the market. Moreover, growth in production of xanthan gum using inexpensive &abundantly available raw materials and increase in demand for oil & gas drilling are key opportunities for market.
Based on geography, China and India countries hold major share inxanthan gum market owing to rise in developments in oil & gas production and increase in processed food production in the countries. USA country is expected to witness higher growth rate due to rise in adopting healthy food habits and increase in awareness to maintain a healthy lifestyle over the forecast period. The global market is expected to grow at a significant rate of 4.5% from 2019 to 2024 to extent a market value of US $1.2 billion by the end of 2024.
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Ankur Gupta, Head Marketing & Communications