Consumer Preference Towards Gluten-free Food Products And Need For Rheology In Oil & Gas Industry To
The increasing penetration of xanthan gum coupled with the further development of these robust end-use industries is expected to drive the market demand for xanthan gum over the forecast period between 2018 and 2025.
[USPRwire, Wed Mar 13 2019] Adroit Market Research launched a study titled, “Global Xanthan Gum Market Size 2018 By Application (Oil & Gas, Food & Beverage, Pharmaceutics, Cosmetics, Others), By Region and Forecast 2018 to 2025”. The study covers the global xanthan gum market share for various applications for the key regions and countries. The global xanthan gum market analysis covers various perspectives including that of producers and consumers and every other important vendor along the value chain.
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By 2025, the global xanthan gum market size is estimated to reach USD 562.5 million by 2025 with demand exceeding 200 kilo tons. Oil & gas and food & beverages are the two major applications together accounting for over 80% of the global xanthan gum market share, both volume and value, in 2017. The increasing penetration of xanthan gum coupled with the further development of these robust end-use industries is expected to drive the market demand for xanthan gum over the forecast period between 2018 and 2025.
The fall in crude oil prices, which reached an astonishing low of almost USD 30 per barrel at the start of 2016, resulted in oil companies utilizing low cost of xanthan gum for thickening and rheology modification. This has resulted in maintaining the constant demand for xanthan gum regardless of their price fluctuation due to oversupply. Advancements in the oil & gas industry to increase production are expected to augment the xanthan gum demand owing to its thickening and rheological properties.
According to the Organization of the Petroleum Exporting Countries (OPEC), the share of OPEC crude is expected to increase to 36% by 2040 up from 34% in 2017 on account of increase in oil drilling activities across major oil-producing countries. This factor is expected to subsequently drive the global xanthan gum market growth. Oil & gas is expected to account for 41% of the global xanthan gum market share, in terms of volume, by 2025.
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Another major application of xanthan gum is the food & beverage sector where it is used as an additive in different types of drinks and foods. Over the past few years, there has been a visible change in consumer preference from the generic range of foods to healthy, gluten-free and fresh options. This change in consumer preference for food is expected to shape the future dynamics of the global xanthan gum market.
To elaborate further, the global gluten-free products market value exceeded USD 4 billion in 2017 and sales are likely to be driven by increasing awareness among consumers regarding allergies. Conventionally, North America has been the largest consumer of gluten-free foods, however, over the past few years, we can observe that several people in Asia Pacific are becoming aware regarding the health benefits of gluten-free foods, which in turn is expected to drive sales. This boom in sales of gluten-free products is expected to supplement the global xanthan gum market size over the forecast period.
Asia Pacific and North America have been the leaders of oil & gas and food & beverages production. This has eventually led to them emerging as the biggest consumers of xanthan gum. These two regions together accounted for over 70% of the volume and 60% of the revenues in terms of the global xanthan gum market share. Europe also holds a lucrative opportunity for xanthan gum in emerging industries such as organic and natural personal care products. Thus, the growth of the end-user industries in developing and developed economies is expected to drive the growth of the global xanthan gum market size over the forecast period.
Key players within the global xanthan gum industry include Jungbunzlauer, Fufeng, Deosen, Cargill, Archer Daniels Midland (ADM) and CP Kelco. In light of the growing global xanthan gum market demand, companies are following through with capacity expansions to remain competitive. For instance, CP Kelco, one of the prominent players within the global xanthan gum market, announced in 2017, the expansion of its Shangdong Province facility to produce 12,000 metric tons per year.
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Key segments of the global xanthan gum market
Application Overview, 2015-2025 (USD Million) (Kilo Tons)
- Oil & Gas
- Food & Beverage
Regional Overview, 2015-2025 (USD Million) (Kilo Tons)
- North America
- Rest of the World
Reasons for the study
- The study assesses the dynamics and movement of the global xanthan gum market across various geographies
- While studying the global xanthan gum market, we observed lucrative demand from developing countries such as India, Japan, China among others
- The market is fragmented and major players have their presence across the globe. The companies as well as research institutes are concentrating on studies to enhance advancements to meet the global demand.
What does the report include?
- The report focuses on xanthan gum market on the basis of applications
- The study on the global xanthan gum market includes qualitative factors such as pipeline analysis, drivers, restraints and opportunities.
- The study covers qualitative and quantitative xanthan gum market analysis and segmented on the basis of application and region. Moreover, the study provides similar information for the key geographies
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players in the market with a significant global and/or regional presence