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Asia Pacific Xanthan Gum Market To Be Value US$ 495 Million By 2023

Author : Ronak Bora | Published Date : 2019-05-09 

APAC Xanthan Gum Market, dominated by China and India, is predicted to cross $495 million mark by end of 2023 registering CAGR of more than 6.21% during forecast period. Increasing cosmetic and pharmaceutical industry establishments in the region due to growing regional demand along with low production costs can promote industry expansion. Increasing urbanization, rising disposable income, expansion of stores, supporting economic factors and availability of easy finance is driving regional demand. Automotive growth in India, China, Malaysia, Indonesia and Thailand is expected to fuel demand for paints and coatings manufacturers to boost regional production capacity.

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Approvals from FDA and USDA for the use of product in medicines and bakery foods. FDA recognized the use of product for direct food human consumption under the Code of Federal Regulations (CFR 21) to fuel in food & beverage and pharmaceutical applications. Imposition of antidumping duties by the U.S. Department of Commerce may affect xanthan gum market price trend.

Rising demand for food & beverages across the globe due to growing population along with improved consumer lifestyle in BRICS countries is expected to favorably affect xanthan gum market size over the coming years. Food & beverages sector contributed a revenue of USD 8.50 trillion in 2004, which exceeded USD 15 trillion in 2015. The product is extensively used in this sector due to its ability to enhance moisture retaining capacity and improve shelf life of baked items. According to Global Market Insights, Inc., “Xanthan Gum Industry size is anticipated to reach USD 1.2 billion by 2023.” Xanthan Gum finds wide applications in cosmetic products such as lotions, denture cleaners, and shampoos due to its thickening & stabilizing property. Furthermore, FDA and USDA approval for the use of xanthan gum in bakery foods and medicines will provide huge growth opportunities for the industry over the coming years.  European commission has also approved the use of xanthan gum as an emulsifier, gelling agent, thickener, and stabilizer in food & beverages sector.

Increased drilling activities in North America on account of growing demand for petroleum and petroleum based products in oil & gas industry to boost xanthan gum market share. Rising expenditure on technological development in oil & gas sector to increase the production output for crude oil and natural gas resulted in growing importance for enhanced oil recovery (EOR).

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Xanthan gum finds its applications in cosmetics, oil & gas, and pharmaceutical sector. Xanthan gum market revenue in oil & gas sector worth USD 300 million in 2015, is expected to grow at a rate of 6.2% over 2016-2023. The growth can be credited to its wide application in horizontal drilling as well as demand for better control of drilling solids. Xanthan gum industry share in pharmaceutical sector is predicted to exceed USD 55 million by 2023, with expected gains of 5.2% over 2016-2023. The growth can be credited to its use as diluents & disintegrants in tablets as well as protective colloids in suspensions.

Key insights from the report include:

  • Oil & gas applications are set to grow at 6.2% CAGR in revenue terms. Strong Chinese O&G indictors, will drive xanthan demand.
  • Asia Pacific, led by China xanthan gum market size, dominated regional consumption. Rising geriatric population and changing climate conditions in China, Australia and India have raised concerns for skin problems, which are expected to fuel personal care products demand and contribute to xanthan gum industry growth.
  • North America, driven by the U.S. xanthan gum industry share, is poised to grow at 5.3% CAGR by 2023. Strong pharma spending cue will be a telling factor on demand.
  • Europe xanthan gum market size is expected to exceed in terms of revenue at USD 235 million by 2023. Pharmaceutical applications are expected to exceed USD 10.2 million by 2023. Increasing R&D investments across the pharmaceutical industry will drive growth.
  • MEA, led by Saudi Arabia may grow significantly, with rising health expenditure coupled with government support.
  • Global xanthan gum market share is consolidated. Deosen Biochemical, Fufeng Group, CP Kelco, DuPont, ADM and Cargill are among notable industry players. Other participants include Pfizer, Sancho & Lee, Meihua Holdings, Solvay Group, Kantilal Brothers, Jungbunzlauer and Qingdao Unichem.
  • Increasing R&D investments by major companies to explore untapped applications of xanthan gum, anticipated to open new avenues.

Market players will try to increase their ROI through merger & acquisitions and R&D investments. Key industry players include DuPont, Archer Daniels Midland, Fufeng Group Company Limited, Cargill, CP Kelco, Sancho & Lee, Jungbunzlauer, Qingdao Unichem, Deosen Biochemical Limited, Solvay S.A., and Pfizer Pharmaceutical Company.

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About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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