The popularity of gluten-free products is observing a rise lately and this aspect may serve as a significant growth-generating factor for the xanthan gum market across the forecast period of 2019-2027
The global xanthan gum market is prognosticated to expand at a CAGR of ~6 percent during the assessment period of 2019-2027
ALBANY, N.Y., Sept. 8, 2020 /PRNewswire/ -- The global xanthan gum market may derive growth form the various benefits it offers. Escalated efficiency, high-temperature resistance, and the ability to increase the viscosity of concrete used underwater are some of the properties that help the xanthan gum market to garner extensive growth. The growing application of xanthan gum in the oil and gas industry may also invite immense growth prospects for the xanthan gum market.
The researchers at TMR (Transparency Market Research) expect the global xanthan gum market to expand at a CAGR of ~6 percent during the forecast period of 2019-2027. The global xanthan gum market was valued at ~US$ 1 bn in 2019 and is expected to reach ~US$ 1.5 bn by 2027.
The heightening awareness about the benefits of healthy food consumption across the consumers and growing demand for food and beverages around the world owing to the increase in population numbers are the factors that assure good growth for the xanthan gum market. The use of xanthan gum as a mud additive is also influencing the growth rate of the xanthan gum market greatly.
Xanthan Gum Market: Analysts' Perspective
The xanthan gum market has been deriving growth prominently from the oil and gas industry for long but lately, it is also recording great demand from personal care, pharmaceuticals, and others. This factor may invite great growth prospects for the xanthan gum market according to TMR analysts.
The analysts advise the players in the xanthan gum market to pay attention to developing products suited to applications in end-user industries to obtain a competitive edge. The analysts also suggest the players to disocover opportunities in Latin America and Europe.
Xanthan Gum Market: Significant Findings
The food and beverages segment clenched a prominent growth share of the global xanthan gum market in 2018
On the basis of end-users, the oil and gas segment may bring extensive growth prospects
APAC accounted for more than one-third of the global xanthan gum market share in terms of revenue
APAC is anticipated to expand at a volume CAGR of ~6 percent during the forecast period
Europe and North America held more than half of the global xanthan gum market share by value in 2018
Regulatory relaxations for the food and beverage industry in various countries are boosting production. This factor is ultimately bringing growth for the xanthan gum market as it is a prominent material used in the sector.
Xantham gum is used as a binding agent across various cosmetics and the rising sales of cosmetics may bring great growth opportunities for the xanthan gum market
Oil and gas industry makes use of xantham gum as a thickening agent in drilling mud, thus pumping growth for the xanthan gum market
Pharmaceuticals are also inculcating xanthan gum as a prime component in the production of various drugs
The growing number of substitutes of xanthan gum may prove as a prominent growth dampener for the xanthan gum market. The use of guar gum as a substitute for xanthan gum may affect the growth of the xanthan gum market negatively. Furthermore, the anti-dumping policy implementation by the U.S. for xanthan gum imported from China is proving to be a major growth restraint.
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