Xanthan Gum Market size was more than 150 kilo tons for 2015 and is predicted to register more than 5.2% CAGR during forecast timeframe. Oil & Gas firms are actively involved in setting up enhanced oil recovery(EOR) methods to improve crude oil & natural gas production from potential exhausting reserves that can propel industry expansion.Rising demand for food & beverages owing to fast growing population and improved customer lifestyle in BRICS nations is predicted to fuel industry growth. Food & beverages segment was evaluated at more than $8.51 trillion for 2004 and crossed $15.1 trillion mark for 2015. New products launched by firms like Kraft foods, Nestle and Udi is predicted to drive industry expansion.
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Rising demand for food & beverages across the globe due to growing population along with improved consumer lifestyle in BRICS countries is expected to favorably affect xanthan gum market size over the coming years. Food & beverages sector contributed a revenue of USD 8.50 trillion in 2004, which exceeded USD 15 trillion in 2015. The product is extensively used in this sector due to its ability to enhance moisture retaining capacity and improve shelf life of baked items. According to Global Market Insights, Inc., “Xanthan Gum Industry size is anticipated to reach USD 1.2 billion by 2023.” Xanthan Gum finds wide applications in cosmetic products such as lotions, denture cleaners, and shampoos due to its thickening & stabilizing property. Furthermore, FDA and USDA approval for the use of xanthan gum in bakery foods and medicines will provide huge growth opportunities for the industry over the coming years. European commission has also approved the use of xanthan gum as an emulsifier, gelling agent, thickener, and stabilizer in food & beverages sector.
Xanthan gum finds its applications in cosmetics, oil & gas, and pharmaceutical sector. Xanthan gum industry revenue in oil & gas sector worth USD 300 million in 2015, is expected to grow at a rate of 6.2% over 2016-2023. The growth can be credited to its wide application in horizontal drilling as well as demand for better control of drilling solids. Xanthan gum market share in pharmaceutical sector is predicted to exceed USD 55 million by 2023, with expected gains of 5.2% over 2016-2023. The growth can be credited to its use as diluents & disintegrants in tablets as well as protective colloids in suspensions.
North America xanthan gum market size worth USD 220 million in 2015, is predicted to register a CAGR of 5.3% over 2016-2023. Heavy expenditure on medicines along with expansion of pharmaceutical sector is expected to drive the product demand in the region. U.S. is expected to contribute significantly towards the regional growth over the coming years. Europe xanthan gum industry is expected to surpass USD 235 million by 2023 owing to growing demand for personal care products along with rising R&D investments on pharmaceutical sector. Germany, UK, Italy, and France are projected to be the major revenue pockets of the region over the coming years.
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Key insights from the report include:
- Oil & gas applications are set to grow at 6.2% CAGR in revenue terms. Strong Chinese O&G indictors, will drive xanthan demand.
- Asia Pacific, led by China xanthan gum market size, dominated regional consumption. Rising geriatric population and changing climate conditions in China, Australia and India have raised concerns for skin problems, which are expected to fuel personal care products demand and contribute to xanthan gum market growth.
- North America, driven by the U.S. xanthan gum market share, is poised to grow at 5.3% CAGR by 2023. Strong pharma spending cue will be a telling factor on demand.
- Europe xanthan gum market size is expected to exceed in terms of revenue at USD 235 million by 2023. Pharmaceutical applications are expected to exceed USD 10.2 million by 2023. Increasing R&D investments across the pharmaceutical industry will drive growth.
- MEA, led by Saudi Arabia may grow significantly, with rising health expenditure coupled with government support.
- Global xanthan gum market share is consolidated. Deosen Biochemical, Fufeng Group, CP Kelco, DuPont, ADM and Cargill are among notable industry players. Other participants include Pfizer, Sancho & Lee, Meihua Holdings, Solvay Group, Kantilal Brothers, Jungbunzlauer and Qingdao Unichem.
- Increasing R&D investments by major companies to explore untapped applications of xanthan gum, anticipated to open new avenues.
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