-The popularity of gluten-free products has recently been on the rise, which may be an important growth factor for the xanthan gum market during the forecast period 2019-2027
-During the 2019-2027 assessment period, the global xanthan gum market is expected to grow at a compound annual growth rate of 6%
Albany, New York, September 8, 2020/PRNewswire/-The global xanthan gum market is likely to grow from the various benefits it provides. Improved efficiency, high temperature resistance and the ability to increase the viscosity of concrete used underwater are some of the characteristics that contribute to the broad growth of the xanthan gum market. The increasing application of xanthan gum in the oil and gas industry may also bring huge growth prospects to the xanthan gum market.
Researchers at TMR (Transparent Market Research) predict that the global xanthan gum market will grow at a compound annual growth rate of 6% during the forecast period from 2019 to 2027. The global xanthan gum market is valued at approximately US$1 billion in 2019 and is expected to reach US$1.5 billion by 2027.
Due to the increase in the population, people’s awareness of the benefits of healthy food consumption continues to increase, and due to the increase in population, the demand for food and beverages around the world continues to increase, which is the factor that ensures the good growth of the xanthan gum market. The use of xanthan gum as a mud additive has also greatly affected the growth rate of the xanthan gum market.
For a long time, the xanthan gum market has been the main source of growth for the oil and gas industry, but recently, personal care, medicine and other fields are also in great demand. TMR analysts believe that this factor may bring broad growth prospects for the xanthan gum market.
Analysts suggest that participants in the xanthan gum market should pay attention to developing products suitable for end-user industry applications to gain a competitive advantage. Analysts also suggested that participants discover opportunities in Latin America and Europe.
The food and beverage sector accounted for a significant growth share of the global xanthan gum market in 2018
The deregulation measures in the food and beverage industries in various countries are promoting production. This factor will ultimately bring growth to the xanthan gum market as it is an important material used in the industry.
Xanthan gum is used as a binder for various cosmetics. The sales growth of cosmetics may bring huge growth opportunities to the xanthan gum market
The oil and gas industry uses xanthan gum as a thickening agent for drilling mud, thereby providing growth momentum for the xanthan gum market
Pharmaceutical companies also instill xanthan gum as the main ingredient in the production of various drugs
The increasing number of substitutes for xanthan gum may become an important growth inhibitor for the xanthan gum market. The use of guar gum instead of xanthan gum may have a negative impact on the growth of the xanthan gum market. In addition, facts have proved that the US anti-dumping policy on xanthan gum imported from China has become a major growth restriction.
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