The global xanthan gum market is expected to remain
consolidated in nature, owing to the large presence of globally
prominent players and their recent moves on capacity expansion. In
2015, Fufeng Group Company Limited, CP Kelco, and Deosen had
dominated the global xanthan gum market in terms of revenue
generation. At the time, they had captured almost 58.1% of the global
xanthan gum market. Given the overall consolidated market nature,
these players are likely to remain in the lead for the time being.
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According to a research report released by
Transparency Market Research, the degree of competition in the global
xanthan gum market is expected to change over the coming years due to
a very high scope of entry by newer players from North America. From
the global market’s perspective, this threat is likely to remain
moderate due to the leading production rates by other regions. The
global xanthan gum market is predicted to expand at a CAGR of 7.7% in
revenue, within a forecast period from 2016 to 2024. This revenue is
expected to reach US$1.25 bn by the end of 2024, after reaching
US$651.5 mn at the end of 2015. In terms of volume, the global
xanthan gum market is expected to expand at a CAGR of 7.3% for the
same forecast period.
Demand for Xanthan Gum in Food and Beverage Sector
likely to Skyrocket
“The food and beverage sector has always been a
leading end user in the global xanthan gum market. Given is nearly
irreplaceable use as a stabilizer and a thickener, xanthan gum
manufacturers have consistently strived to increase their value in
the food and beverage sector and have managed to do so with great
success. The scope of xanthan gum in foods is expected to grow even
larger over the coming years, with a growing rate of food consumption
across the global urban population. The extremely large demand for
processed foods and convenience foods is expected to surge till 2024,
further increasing the scope of revenue generation in the global
xanthan gum market,” states a TMR analyst.
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The global xanthan gum market is also being driven by
the greater preference of xanthan gum in the food and beverages
industry over other hydrocolloids, owing to its better performance as
a stabilizer. Additionally, the primary substitute for xanthan gum –
guar gum – is expected to witness a drop in supply rates over the
coming years, owing to the growing demand for stabilizers and the
inability of guar gum manufacturers in meeting this demand due to the
seasonal nature of guar seeds.
Quality Concerns Continue to Plague Global Xanthan
Gum Market
The problems associated with the inferior quality of
production of xanthan gum continues to restrain the global xanthan
gum market. The imports of xanthan gum from Austria and China were
earlier deemed of a sub-par quality and were introduced to markets in
the U.S. and other developed nations at a less-than-fair price in
comparison to the international market. This resulted in several
countries and especially the U.S. to implement strict anti-dumping
policies for xanthan gum imports. Additionally, several research
organizations showed that some of the xanthan gum manufactured in
China was unfit for use in food and beverages, although being
labelled as safe for consumption, due to the presence of impurities
that diluted the overall quality of the shipped product.
“While the imports of xanthan gum from China and
Austria into the U.S. are slowing down considerably, it is providing
players within the U.S. to rise up to the occasion. It has thus
formed a highly beneficial opportunity for these players to increase
their shares in the global xanthan gum market,” adds the analyst.
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The information presented in this review is based on
a Transparency Market Research report, titled, “Xanthan Gum Market
- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
2016 - 2024.”
Key segments of the Global Xanthan Gum Market
- Xanthan Gum Market: End-user Analysis
- Food & beverage
- Bakery & Confectionery
- Dairy & Ice creams
- Meat & Fish
- Beverages
- Sauces & Dressings
- Oil & gas
- Pharmaceutical
- Personal Care
- Others (agrochemicals, lab research, paints, printing inks, etc.)
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