Press Release

Global Xanthan Gum Market to Grow at a CAGR of 6.1% During 2024-2032, Aided by the Thriving Personal Care and Cosmetics Industry

Global Xanthan Gum Market

According to a new report by EMR titled, ‘Global Xanthan Gum Market Report and Forecast 2024-2032’, the global market for xanthan gum attained a value of nearly USD 1216.56 million in 2021. The industry is further expected to grow at a CAGR of 6.1% between 2024 and 2032 to reach a value of nearly USD 2072.87 million by 2032.

The xanthan gum market is driven by the thriving personal care and cosmetics industry as a result of rising consumer disposable incomes, increasing population, expansion of cosmetic brands, and the thriving retail sector. Meanwhile, the anticipated increase in the demand for xanthan gum in the oil and gas industry as a viscosifier to achieve accurate drilling is likely to boost the market growth in the forecast period. Furthermore, the rising application of the product in the pharmaceutical industry owing to the rapid drug and medicine development to counter the chronic diseases is anticipated to propel the market growth.

 

In terms of region, the Asia Pacific is likely to account for a significant share in the market and is anticipated to witness a healthy growth in the forecast period. This can be attributed to the growing food and beverage industry in the region owing to the rising population and increasing disposable income. The rising demand for food additives is likely to propel the market for xanthan gum as a food thickener. Additionally, the increasing sales of a range of cosmetics is likely to catapult the demand for xanthan gum in the forecast period. This can be attributed to the emerging popularity of e-commerce giants such as Amazon (NASDAQ: AMZN) that offers discounts on a range of cosmetic products.

 

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Market Breakup by Form, Function, Application, and Region:

  • The market is segmented based on form into liquid and powder.
  • Based on function, the market is divided into thickening agent, stabilising agent, suspending agent, and fat replacer, among others.
  • The significant applications of xanthan gum include food and beverages, oil and gas, pharmaceuticals, and cosmetics, among others.
  • Region-wise, the global market for xanthan gum can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Key Findings of the Report:

  • The global market for xanthan gum is being driven by the growing use of the product as a viscosifier in the oil and gas industry.
  • The growing innovations and R&D activities in the pharmaceutical sector is anticipated to augment the potential applications of the product in the market.
  • The emerging e-commerce industry is likely to propel the sales of personal care and cosmetic products, thereby accelerating the market for xanthan gum.
  • The market will further be aided by the thriving food and beverage industry in the emerging economies across the continents.

 

Key Offerings of the Report:

  • The EMR report gives an overview of the global xanthan gum market for the periods (2018-2023) and (2024-2032).
  • The report also offers historical (2018-2023) and forecast (2024-2032) market information for the forms, functions, applications, and major regions of xanthan gum.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

 

The major players in the global xanthan gum market are Cargill, Incorporated, Archer Daniels Midland Company, BASF SE, Ingredion Incorporated, and Deosen Biochemical Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

 

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