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.
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.
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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