This research report titled ‘Global Xanthan Gum Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Xanthan gum is used in various industries such as food and beverages, oil and gas, pharmaceuticals, personal care, cosmetics, adhesives, paints and printing inks, textiles, lubricants, agrochemicals, and lubricant. The demand for xanthan gum from various applications is expected to contribute significantly toward the growth of the global xanthan gum market during the forecast period.
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Technavio’s analysts categorize the global xanthan gum market into five major segments by application. They are:
- Food and beverages
- Oil and gas
- Personal care and cosmetics
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The top three segments of the global xanthan gum market are discussed below:
Global xanthan gum market by food and beverages
Xanthan gum is extensively used in food and beverages. The food and beverages segment accounted for the largest share of the xanthan gum market in 2016, and it is likely to hold 40.56% market share by the end of the forecast period. Xanthan gum is majorly used in the bakery, non-alcoholic and alcoholic beverages, convenience foods, dairy products, fruits and vegetables, and meat and fish products.
According to Mohd Shakeel Iqbal, a lead bio-chemicals and bio-materials research analyst from Technavio, “The global food and beverages market is growing significantly. This can be attributed to the factors such as the high demand for processed food, changing lifestyle, change in food preferences, demographic changes, growing demand for dairy and meat products, and increase in disposable income. Thus, with the growth in the food and beverage industry, the consumption of xanthan gum is expected to augment during the forecast period.”
Global xanthan gum market by oil and gas
Xanthan gum is generally used to increase viscosity and yield point in water base muds. It provides superior low-end rheology. It is used to transport the solid cuts by the drilling bit to the surface. When the circulation stops, solids remain suspended in the drilling fluids.
“The Middle East, West Africa, and APAC are regions with untapped potentials. The major vendors are shifting their focus on these regions and investing in setting up manufacturing units. The growing demand from oil and gas industry is expected to augment the demand for xanthan gum in this segment during the forecast period,” says Shakeel.
Global xanthan gum market by pharmaceutical
The pharmaceuticals segment accounted for the third highest market share in the global xanthan gum market, and it is expected to register 7.69% market share by the end of the forecast period. Xanthan gum is used as a stabilizer for pharmaceutical formulations. It possesses uniformly suspended water-insoluble ingredients. It is widely used as thickener and stabilizer in liquid and ointment medicines.
The global pharmaceutical market is expected to grow significantly in the next five years. This can be attributed to the growing demand from prescription sales and the high investments by the pharmaceutical vendors on the research and development (R&D) activities for the development of drugs.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Archer Daniels Midland
- Fufeng Group
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