The xanthan gum market has been segmented on the basis of application, function, form, and region. On the basis of application, the market has been segmented into food & beverages, oil & gas, and pharmaceuticals & personal care. On the basis of function, the market has been segmented into thickeners, stabilizers, gelling agents, fat replacers, and coating materials. On the basis of form, the market has been segmented into dry and liquid form. On the basis of key regions, the market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
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The Asia-Pacific region is projected to be the fastest-growing, which includes India, China, Japan, and Australia between the years 2016 and 2022. The driving factors for the market in this region are increase in domestic demand for food & beverages, especially convenience food and emerging countries, owing to the growth in urbanization, rapid economic development, and change in lifestyles. Companies such as E. I. du Pont de Nemours and Company (U.S.), Fufeng Group (China), and Cargill (U.S.) have expanded their manufacturing plants across these regions.
The food & beverages segment, by application, is projected to be the fastest-growing during the review period. This is due to rise in concerns over natural and gluten free food products among consumers. Also, consumers are looking for more convenience food products, owing to the changing and busy lifestyles. Furthermore, the growth in the oil & gas industry created immense potential for the xanthan gum market owing to the growth in oil recovery and oil drilling activities across the globe, which drives the demand for xanthan gum owing to its better emulsion characteristics.
On the basis of function, the fat replacer segment is projected to be the fastest-growing during the review period. The change in lifestyles of consumers has created a bridge between diet and health, and this has set a new path for consuming high-fiber and low-fat food products. However, xanthan gum is widely used as a fat replacer in dairy products and processed food products such as desserts and meat, to impart fat-like mouthfeel; it also improves physical and structural properties of food products.
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On the basis of form, the dry segment is projected to be the fastest-growing during the forecast period, owing to its easy handling and storage by the food & beverage manufacturers. The market for xanthan gum in dry form is characterized by its properties such as thaw stability, thickening, heat stability, and uniformity in dosage formulation for pharmaceutical applications, along with easy-to-use characteristics.
