Xanthan Gum Market size worth over $1.4 billion by 2026
Published Date: July 28, 2020 Authors: Kunal Ahuja, Kritika Mamtani
According to a new research report by Global Market Insights, Inc., the Xanthan Gum Market size is set to surpass $1.4 billion by 2026. Increasing demand for high performance and gluten free additives in food & beverage sector is likely to accelerate the global market.
Xanthan gum is a polysaccharide manufactured using biotechnological fermentation process. It is highly soluble in cold & hot water and has high resonance with other hydrocolloids such as guar gum and locust bean gum. It is widely used in cosmetic, pharmaceutical, and food & beverage applications owing to its compatibility with various synthetic and natural ingredients which is likely to boost xanthan gum market share.
Pharmaceuticals is likely to surpass USD 70 million by the end of 2026 owing to increasing product penetration in pharmaceutical industry and rising demand for stable solutions. It is widely as a controlled release agent in manufacturing pharmaceuticals owing to its high chemical feasibility with organic and inorganic pharmaceutical agents which is likely to foster the xanthan gum market.
Rising pharmaceutical industry and increasing demand for stable & high performance solutions are expected to increase xanthan gum requirement. Xanthan gum is widely used in manufacturing high quality topical solutions and medicated cosmetics as it aids in increasing shelf life and provides moisture retaining characteristics. Rapid demand for economical over the counter topical solutions may also augment industry growth.
Strict regulations on food & beverage manufacturing in North America & Europe is increasing competition in industry sphere. Manufacturers are rapidly investing in diversifying their product portfolio to remain competitive in market sphere. Furthermore, increasing compliances in food & beverage industry are making industry players develop advanced xanthan gum solutions to stay competitive in post corona economy.
Browse key industry insights spread across 115 pages with 63 market data tables and 21 figures & charts from the report, “Xanthan Gum Market By Application (Oil & Gas, Food & Beverages, Pharmaceutical, Cosmetics), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2015 – 2026” in detail along with the table of contents:
Increasing demand for easily digestible additives in food & beverage industry to foster market share
Food & beverage segment is likely to surpass USD 690 million by the end of 2026 owing to increasing product penetration of xanthan gum in snacks and confectionery. Consumers are widely moving towards healthy alternatives which is increasing product penetration in various products such as nutritional bars, chocolates, health drinks, and energy bars.
Increasing demand for easily digestible alternatives and rising competition in fast moving consumer goods market is likely to boost product demand. Consumers are rapidly moving towards gluten free snacks and easily digestible preparations owing to rising awareness on health & fitness trends. Furthermore, rapid adopting of gluten free snacks by celebrities and rising awareness on digestive health is likely to augment market share.
“As per industry forecasts, xanthan gum market from food & beverage is likely to grow with CAGR of 6.5% by the end of 2026 owing to rapid production penetration in market and shift towards healthier alternatives”
Rising demand for high quality cosmetic ingredients and changing perceptions on skin health to boost product demand in Europe
Europe is likely to grow with CAGR of over 5.5% owing to rising geriatric population and increasing inclination towards economical & quick acting solutions. Rapid shift of Gen Y and baby boomer demographic towards aging solutions is likely to propel product penetration. Furthermore, increasing demand for high quality cosmetic preparations and inclination towards economical products should foster market share.
Rising disposable income & increasing willingness to spend on medicated cosmetics in Gen X and millennial demographic is likely to foster market share. Consumers are rapidly moving towards high quality ingredients in cosmetic preparations owing to rapid awareness on healthcare and skincare trends. Additionally, rising geriatric population & rapid demand for quick acting and performance over the counter cosmetic solutions is likely to boost the demand for xanthan gum.
“As per industry forecasts, Europe is likely to surpass USD 290 million by the end of 2026 owing to rapid shift quick acting and economical cosmetic preparations”
Key market players in xanthan gum industry are rapidly investing in marketing initiatives and new product development in an attempt to gain competitive advantage in market sphere. Manufacturers are rapidly expanding their product portfolio by offering high purity targeted solutions in an attempt to stay competitive in post corona economy. Key players in market sphere include CP Kelco, Gum Technology Corporation, Cargill, DuPont Danisco, Solvay, ADM, Unionchem and Fufeng Group Company Limited.