Food & beverages is the leading application segment in the xanthan gum market, where xanthan gum is used in wide range food products, such as sauces & dressings, meat & poultry products, bakery products, confectionery products, beverages, dairy products, others. It offers excellent water-binding stability, storage stability, and aesthetic appeal in food processing when used in small concentrations.
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The xanthan gum market was valued at $722 million in 2016, and is estimated to reach $1,076 million by 2023, registering a CAGR of 5.9% from 2017 to 2023. In 2016, the food & beverages application segment accounted for more than two-thirds share of the total market.
Xanthan gum is an epoxy polysaccharide, which belong to hydrocolloid family and is used as a valuable substance in food additive. It has the ability to absorb more water than its own weight and has the capability to form a gel.
It is widely used as a stabilizing agent, thickening agent, fat replacer, suspending agent, and bodying agent in a wide variety of food and industrial applications. It is one of the most adaptable elastic thickener, which performs well even when used in small quantities.
It owns several extraordinary and useful properties, such as change in viscosity at fluctuating temperatures, high viscosity at low concentrations, and excellent stability over a wide pH range.
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Key Findings of the Xanthan Gum Market:
- In 2016, Asia-Pacific dominated the global market, with more than one-third share, in terms of both revenue and volume.
- In 2016, China dominated the Asia-Pacific xanthan gum market, with around half of the share, in terms of both revenue and volume.
- The food & beverages segment is estimated to register the highest growth rate, in terms of revenue, registering a CAGR of 6.2% from 2017 to 2023.
- The thickening function segment is estimated to register a highest growth rate, in terms of revenue, registering a CAGR of 6.3% from 2017 to 2023.
- In 2016, Cp Kelco, Cargill Inc., and Fufeng Group Company Ltd. are the leading players in global xanthan gum market.
In 2016, Asia-Pacific dominated the global market, owing to the increase in processed foods production and developments in oil & gas production in China and India. Furthermore, supporting government policies and foreign investments in oil & gas sector in the region are anticipated to boost the market for xanthan gum in the foreseeable future.
North America is the second leading region, which is expected to register a CAGR of 5.8% in terms of revenue. The key players profiled in the xanthan gum market include Fufeng Group Company Ltd., CP Kelco, Cargill, Inc., Solvay S.A., E. I. Du Pont De Nemours and Company, FMC BioPolymer, MeiHua Holdings Group Co., Ltd., Archer Daniels Midland Company, Ingredion Incorporated, and Zoranoc Oilfield Chemical.
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