Xanthan Gum Market is expected to grow at a CAGR of 4.7% from 2021 to 2028. Multifunctionality of Xanthan Gums Fuels Growth of Market

NEW YORK, UNITED STATES, February 11, 2022 /EINPresswire.com/ -- According to our latest study named “Xanthan Gum Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Form (Dry and Liquid) and Application (Food and Beverages, Oil and Gas, Pharmaceuticals and Nutraceuticals, Personal Care, and Others,” the market was valued at US$ 576.11 million in 2020 and is projected to reach US$ 827.57 million by 2028; it is expected to grow at a CAGR of 4.7% from 2021 to 2028. The report highlights key factors driving the market and prominent players, along with their major developments, in the market.

Report Coverage Details

Market Size Value in- US$ 576.11 Million in 2020
Market Size Value by- US$ 827.57 Million by 2028
Growth rate- CAGR of 4.7% from 2021-2028
Forecast Period- 2021-2028
Base Year- 2021
No. of Pages- 138
No. Tables- 56
No. of Charts & Figures- 68
Historical data available- Yes
Segments covered- Form and Application
Regional scope- North America; Europe; Asia Pacific; Latin America; MEA
Country scope- US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage- Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Xanthan gum is also used as a gelling agent and fat replacer in various applications in the food & beverages, pharmaceuticals and nutraceuticals, personal care, and other industries. It imparts uniform thickness to toothpaste and other similar products. Xanthan gum is used as an emulsifier, and it can prevent products from separating and falling apart. As a result, it is used in various oil-based salad dressings and cosmetics. Further, xanthan gum is added to improve texture, consistency, flavor, shelf life, and appearance of food products. Furthermore, several personal care and beauty products contain xanthan gum, and it provides the required thickness and free-flowing properties to these products. It also facilitates the suspension of solid particles in liquids.

Xanthan gum has been associated with a variety of other potential health benefits, including weight loss, cancer-fighting abilities, and lowering bad cholesterol levels. Additionally, in pharmaceutical products, xanthan gum is utilized as a stabilizer in various formulations and suspensions such as vitamin supplements to prevent delamination due to temperature changes. Moreover, it is added to certain eye drops for preventing and treating ophthalmic disorders such as retinitis and choroiditis. Thus, the multifunctionality of xanthan gum is driving the market growth.
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Impact of COVID-19 Pandemic on Xanthan Gum Market

The COVID-19 pandemic has drastically affected the sales and overall operations of industries across different regions owing to lockdown imposed for prolonged periods, restrictions enforced on international trades, shutdown of manufacturing units, travel bans that led to supply chain disintegration, shortage of raw materials, and so on. The shutdown of food & beverages plants in leading regions such as North America, Europe, and Asia Pacific has affected the global supply chain and negatively impacted the manufacturing, delivery schedules, and sales of various food & beverage ingredients. Xanthan gum is one of the key ingredients in various convenience food products, such as bakery goods, frozen food products, dairy products, and ready-to-drink (RTD) beverages. Xanthan gum manufacturers witnessed low demand owing to decrease in the sales of comfort food products during the lockdown periods.

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Based on form, the xanthan gum market is segmented into dry and liquid. In 2020, the dry segment accounted for a larger market share. Dry xanthan gum disperses fast and forms a viscous, stable solution, when mixed with any liquid. As a result, it is an excellent thickening, suspending, and stabilizing ingredient. Moreover, xanthan gum powders are used in liquids to improve their viscosity, hydration, and clarity. Xanthan gum in dry form is soluble in, both, hot and cold liquids.

The xanthan gum market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). Asia Pacific held the largest share of the market in 2020. The dominance of this region in the global market is primarily attributed to the presence of large-scale production facilities, resulting in high domestic consumption of xanthan gum. An increase in domestic demand for food and beverages, particularly convenience foods, and the growth of countries such as India and China owing to urbanization, rapid economic development, and lifestyle changes would further fuel demand for xanthan gum in the region in the coming years.

Xanthan Gum Market: Competitive Landscape and Key Developments

Archer Daniels Midland Company, Cargill, Incorporated, Cp Kelco, Deosen, Fufeng Group, Hebei Xinhe Biochemical Co. Ltd., Ingredion, Meihua Holdings Group Co. Ltd., Solvay S.A, and Unionchem are among the key players in the global Xanthan Gum market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.
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