Global xanthan gum market to reach USD 1,269.6 million in 2021 and is growing at a CAGR of 6.2% between 2016 and 2021.
Sarasota, FL -- (SBWIRE) -- 02/20/2017 -- Zion Market Research (http://www.zionmarketresearch.com) has published a new report titled "Xanthan Gum Market for Oil and Gas, Food and Beverage, Pharmaceutical, Cosmetics, and Other Applications - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2015 – 2021." According to the report, global demand for xanthan gum market was valued at USD 880.5 million in 2015, is expected to reach USD 1,269.6 million in 2021 and is anticipated to grow at a CAGR of 6.2% between 2016 and 2021.
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Xanthan gum is the most widely used elastic thickener and easy-to-use hydrocolloid. It is extremely powerful in small quantities and provides a rich creamy mouth feel and works synergistically with many other ingredients. Xanthan gum doesn't need to be heated like other starches to be hydrated so it is ideal to make sauces with cold fruits and vegetables. Xanthan gum is very stable at temperature variations. It is effective in alkaline, acid and even salty solutions. Xanthan gum can also withstand freeze or thaw cycles and it is an excellent gluten replacement providing sponginess and firmness.
Asia Pacific dominated the worldwide xanthan gum market in 2015 due to tremendous growth in the food processing industry. Pharmaceutical industry in the region is expected to grow at fast pace due to aging population and awaiting expiry of patented drug. This, in turn expected to boost the market growth in Asia Pacific. Furthernore, advancing technologies and developing infrastructure for oil & gas production especially in emerging economies such as China, India and Japan also drives the xanthan gum market in the near future.
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North America is estimated to have decent growth for xanthan gum in the near future. North America is one of the largest markets for the xanthan gum market in 2015. The growth in the region is attributed to growing demand for petroleum and petroleum based application s in oil & gas industry. Xanthan gum is majorly used to thicken drilled mud in the drilling oil & gas. Furthermore, increasing pharmaceutical investment in North America coupled with huge demand for xanthan gum in food & beverage is anticipated to propel the Xanthan gum market in North America in the coming years.
Europe was one of the leading markets followed by North America in 2015 owing to expanding pharmaceutical industry in this region. Growing number of health conscious population in Europe is expected to fuel gluten free food market in Europe which in turn is likely to boost the xanthan gum market in the forecast period.
The xanthan gum market in Latin America is expected to witness a surge in demand due to increasing demand in food industry in the region. Oil and gas industry in the region is witnessing an extreme change regarding the novel technologies and innovations. This factor may impact xanthan gum market in coming years.
Middle East is witnessing significant growth in xanthan gum market. Oil and gas industry in the region is experience elevated growth in the forecast period which is expected to positively impact on the growth of the Xanthan gum market in the coming years.
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The global Xanthan gum market has been segmented as follows:
Xanthan Gum Market: Application Analysis
-Oil & gas
-Food & beverages
-Others (Adhesives, textiles, lubricants, etc.)
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Xanthan Gum Market: Regional Analysis
-Middle East & Africa
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