Wilmington, Delaware, United States, Dec. 01, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global xanthan gum market was estimated at a value of US$ 1 billion in 2021. It is anticipated to register a 5.9% CAGR from 2022 to 2031 and by 2031, the market is likely to attain US$ 1.9 billion by 2031.
Xanthan gum is used in a variety of pharmaceutical applications that include solid and liquid dosage formulations as a thickening, suspending, and emulsion stabilizing agent. Xanthan gum thickener is found in a lot of meals and other packaged goods. It improves the foam in liquid and semi-solid compositions. It dissolves easily in both hot and cold water.
The superior flow qualities and ease of pumpability of xanthan gum make it a popular ingredient in skin and personal care products. Since xanthan gum stabilizes emulsions and gives creams and lotions a creamy quality, it is frequently used in skincare products. Xanthan gum is used in toothpastes, lotions, creams, and shampoos, among other personal hygiene items.
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Key Findings of the Market Report
- The industry is also being driven by the growing use of xanthan gum as a less expensive substitute for guar gum. Salad dressings, sauces, drinks, dairy, toppings, baked goods, sweets, breading, batter, and low-fat spreads are among the foods and drinks that include xanthan gum.
- A number of factors, including increased urbanization, a big and expanding customer base made up of families and young professionals who want vegan and healthful food items, and high disposable income, influences the global market for xanthan gum.
- Xanthan gum is one of the main polymers used in the food business because of its excellent solubility and stability in acidic or alkaline environments, stability in the presence of salts, and resistance to enzymes.
Market Trends for Xanthan Gum
- One of the most effective, most premium, and environmentally friendly oil drilling fluids utilized in the oil and gas sector is xanthan gum. It can withstand temperatures as high as 94°C, as well as acids, alkalis, and salts. It can greatly increase the mud's permeability.
- Solid material suspension, less pressure loss during drilling, well wall stabilization, decreased reservoir damage, and markedly increased drilling, workover, and completion efficiency are all made possible by xanthan gum.
- Due to its rheological characteristics, salt tolerance, and thickening effect, xanthan gum is favored in the petroleum sector for oilfield development over polyacrylamide, CMC, modified starch, and certain polysaccharides like guar gum.
Global Market for Xanthan Gum: Regional Outlook
Various reasons are propelling the growth of the xanthan gum market throughout the region. These are:
- In 2021, Asia Pacific accounted for a major portion of the world market for xanthan gum. The sheer size of the population and the increase in disposable income throughout Asia Pacific are the main drivers of the region's food and beverage business, even with the region's development rate being slower. In 2021, Asia Pacific accounted for 39% of the market's value share.
- In 2021, the value shares of North America and Europe were around 30% and 20%, respectively. The notable expansion of the pharmaceutical sector in Europe can be attributed to market expansion. Due to the fast-growing cities and rising employment rates in the Middle East and Africa, the industry is anticipated to have significant potential in the near future.
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Global Xanthan Gum Market: Key Players
Companies in the Xanthan Gum industry are using a variety of strategies to increase sales. This involves developing innovative goods to meet the growing needs of the food, pharmaceutical, and oil and gas industries. To expand market presence and reach new clientele, strategic alliances and acquisitions are often sought for. Companies actively participate in marketing campaigns to raise awareness and get a competitive advantage in the xanthan gum market.
They also concentrate on streamlining manufacturing procedures to save costs while preserving product quality. The following companies are well-known participants in the global xanthan gum market:
- Cargill, Inc.
- Archer Daniels Midland Company
- Fufeng Group Company Limited
- DuPont
- Solvay S.A.
- MeiHua Holdings Group Co., Ltd
- JUNGBUNZLAUER SUISSE AG
- CP Kelco
- Hebei Xinhe Biochemical Co., Ltd.
- Deosen
- Zoranoc Oilfield Chemical
- Jianlong Biotechnology Co., Ltd
- FMC BioPolymer
Key developments by the players in this market are:
- Leading xanthan gum manufacturer Fufeng Group Ltd. chose a roughly 370-acre (150-hectare) location in Grand Forks' agri-business park for its first American production plant in November 2021.
- SK Capital Partners' portfolio business Tilley Co. purchased Ingredient Solutions, Inc., a distributor and mixer of specialized hydrocolloids, in September 2021. The range of Ingredient Solutions includes products made from algae and renewable plants.
- In June 2021, CP Kelco added a customer experience-focused facility in New Atlanta, Georgia, to its network of international innovation centers. The innovation center is intended to be an accessible, cooperative area where scientists and consumers can work together to solve problems, create, and scale up pilot plants for food, beverage, personal care, home care, and other consumer goods.
Global Xanthan Gum Market Segmentation
Application
- Food & Beverage
- Bakery & Confectionery
- Dairy & Ice Creams
- Meat & Fish
- Beverages
- Sauces & Dressings
- Oil & Gas
- Pharmaceutical
- Personal Care
- Others
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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