Xanthan Gum Market Size By Application (Oil & Gas, Food & Beverages, Pharmaceutical, Cosmetics), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 - 2023
Published Date: Jul 2016 | Report ID: GMI512 | Authors: Kunal Ahuja, Shreya Deb
Xanthan Gum Market size valued at USD 745 million in 2015 and is predicted to surpass consumption of 230 kilo tons by 2023.
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Increasing prevalence of gluten intolerance among consumers has significantly augmented the demand for gluten free food & beverages which is likely to foster the xanthan gum market growth. The product is widely used as a stabilizer and thickening agent in food products, oil industry and pharmaceuticals owing to its high solubility, insensitivity to a wide temperature range and high viscosity at low concentrations. U.S. gluten free products sale from conventional stores amounted over at USD 2.5 billion in 2015 which shows huge opportunities for market growth. Rising technological advancements has enabled the incorporation of product as additive in several end use industries owing to its exceptional benefits which shall further propel the market size.
Growing environmental concerns pertaining to rising carbon emissions has boosted the demand for natural additives from various industries which is likely to have a positive impact on the product demand. These products are widely utilized in the manufacture of several skincare products owing to its skin conditioning properties and ability to create a gel-like consistency in cosmetics. Organic cosmetics value in the U.S. amounted to USD 700 million in 2015. Growing awareness towards the effective binding properties and environment friendly characteristics of the product shall further stimulate the market size.
Availability of substitutes which offer similar benefits to that of xanthan gum is likely to hamper the market growth. Substitutes such as guar gum is used as a gluten free additive and is gaining popularity owing to its inexpensive nature. Guar gum is widely used in the manufacture of food products owing to its solubility and ability to thicken and bind products. The product is low in calories but high in soluble fiber, thereby promotes the health of digestive system. However, unique rheological properties, wide compatibility and superior antioxidation effects of xanthan gum is likely to stimulate the market growth.
|Base Year:||2015||Market Size in 2015:||745 Million (USD)|
|Historical Data for:||2012 to 2015||Forecast Period:||2016 to 2023|
|Forecast Period 2016 to 2023 CAGR:||6%||2023 Value Projection:||1.1 Billion (USD)|
|Pages:||90||Tables, Charts & Figures:||79|
|Geographies covered (8):||North America, U.S, Europe, Russia, Germany, Netherlands, Asia Pacific, China, India, LATAM, Brazil, MEA, Saudi Arabia|
|Segments covered:||Application and Region|
|Companies covered (17):||Cargill, Deosen Biochemical Ltd, Fufeng Group Company Ltd, Gum Technology Corporation, Hebei Xinhe Biochemical Co Ltd, Jungbunzlauer, CP Kelco, Meihua Holdings Group Co. Ltd, Pfizer Inc, Kantilal Brothers, Qingdao Unichem Co Ltd, Archer Daniels Midland, DuPont Danisco, Qingdao Unionchem Co Ltd, Sancho & Lee Co. Ltd, Solvay Group, Unionchem|
|Pitfalls & Challenges:||
Oil & Gas application is likely to surpass USD 480 million during the projected timeperiod pertaining to the increasing crude oil consumption across various end use industries such as automotive and energy. Escalating demand of the product from oil & gas industry owing to its versatile rheological properties and suitable use in environment sensitive locations has fueled its demand from industrial applications. These products readily disperse & mix into water under low shear conditions without any formations of lumps, thereby provide several advantages in oilfield drilling applications which shall drive the xanthan gum market demand during the forecasted timeperiod.
Pharmaceutical application may record gains of over 4.5% by 2023 owing to the increasing healthcare facilities and rising intake of therapeutic drugs. Xanthan gum is stable in alkaline, acidic solutions and easily interacts with other thickening agents which has increased its usage in a broad range of pharmaceutical applications. The product supports ease of swallowing for syrup applications and is also used as a saliva substitute for dry mouth. Growing consumer spending on healthcare expenditure has boosted the demand for natural additives in medicines which shall favour the product demand from industry.
North America market should surpass USD 350 million during the forecasted timeperiod owing to the growing demand for organic cosmetics in the region. Increasing concerns towards the use of synthetic chemical additives in skincare & cosmetic products has urged manufacturers to formulate eco-friendly additives in cosmetic products which is the key driving factor of the market. Rising inclination towards personal grooming and increasing consumer purchasing power has encouraged the demand for naturally derived and clean label cosmetics which may induce the regional growth.
Europe xanthan gum market revenue shall record gains at over 4.5% by 2023 pertaining to the booming food & beverage industry in the region. Increasing food allergies & gluten intolerance has shifted consumer preference towards the use of natural emulsifier in food products which shall propel the product demand. Rising cases of celiac disease caused by gluten intolerance has fueled the demand for suitable substitutes to offer gluten-free baked goods that prevent food allergies which is likely to have a major impact on the product demand. Growing consumer preference towards natural additives pertaining to their superior benefits is likely to stimulate the product demand.
Asia Pacific market size may register gains at over 5.5% upto 2023 owing to the increasing geriatric population and rising government spending on healthcare amenities. Growing prevalance of various lifestyle diseases such as obesity, diabetes has created huge demand for medicinal drugs which shows optimal growth opportunities. Increasing investments by pharmaceutical companies in research & development of medicinal additives that offer high antioxidant properties, can be easily swallowed and extend shelf life should further propel the market size.
Competitive Market Share
Global xanthan gum market share is moderately consolidated with the major players operating in the industry including ADM, Solvay, Cargill, DuPont Danisco, Unionchem and Fufeng Group Company Limited. Manufacturers are engaged in expanding strategic collaborations & partnerships and are focused on developing new innovations to improve their product line and attract new customers.
Xanthan gum is extensively used as a thickening agent in medicines, food products and cosmetics as it prevents ingredients from separating and helps in stabilizing blood sugar. The product offers exceptional binding properties, is non-hazardous which enhances its usage as an emulsifying agent in various applications such as food & beverages, oil & gas, cosmetics and pharmaceuticals.
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