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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Increasing Utilisation as a Thickening Agent to Aid the Global Xanthan Gum Industry
Thickening agents can substantially change the properties of a substance by increasing its viscosity. Hence, the rising demand for edible thickening agents in various food items such as sauce, pudding and soup, wheat flour, and desserts, among others is likely to accelerate the growth of the segment in the forecast period. Moreover, the increasing inclination of consumers towards natural thickening agents is likely to be a major driving factor in the market, owing to the fact that xanthan gum is 100% natural.
Diverse Applications of Xanthan Gum in Various End Use Sectors to Boost the Growth of the Xanthan Gum Industry
The diverse application of xanthan gum in various end use sectors such as food and beverage, oil and gas, pharmaceuticals, personal care, and cosmetics, among others is driving the market growth. Among these, the food and beverage accounts for a significant share in the market owing to the rising population, rising demand for condiments, and increasing inclination towards natural food thickeners. In addition to this, a significant increase in the demand for xanthan gum is anticipated in the pharmaceutical industry owing to its application as a gelling agent, binder, and disintegrant, which is expected to provide impetus to the market in the forecast period.
Xanthan Gum Market Report Snapshots
Xanthan Gum Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global xanthan gum market attained a value of nearly USD 1216.56 million.
The market is estimated to grow at a CAGR of 6.1% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 2072.87 million by 2032.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major drivers of the market include the rising application of xanthan gum in various industries including oil and gas, and pharmaceutical, among others, increasing application of xanthan gum in condiments, and as a thickening agent in the food industry, increasing sales of cosmetics, and rapid urbanisation.
The growing R&D activities in the pharmaceutical industry are expected to be the key trends guiding the growth of the industry.
Liquid and powder are the major forms included in the market.
Thickening agent, stabilising agent, suspending agent, and fat replacer, among others are the major functions of the product.
Food and beverages, oil and gas, pharmaceuticals, and cosmetics, among others are the different applications of the product.
The major players in the industry are Cargill, Incorporated, Archer Daniels Midland Company, BASF SE, Ingredion Incorporated, and Deosen Biochemical Ltd., among others.
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