Increasing Applications in Food & Beverages, Medical, Personal Care & Cosmetics Hits Xanthan Gum Market to reach $1,076 million by 2023

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 that 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.

According to a new report published by Allied Market Research, titled, Xanthan Gum Market by Application and Function: Global Opportunity Analysis and Industry Forecast, 2017-2023, 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.

The factors that drive the global market are multi-functionality of xanthan gum, which resulted in varied application of xanthan gum, such as food & beverages, oil & gas, personal care & cosmetics, pharmaceuticals, and others. In food & beverages, xanthan gum is used to add texture, unique appearance, flavour release, viscosity, and to enhance water-control properties. However, high cost of xanthan gum and availability of relatively cheap substitutes and anti-dumping policies on xanthan gum hamper the market growth.

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Food & beverages is the leading application segment, 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.

The thickening agent segment dominated the global market, with more than one-third of the total market share in 2016. It is widely used as a thickening agent in broad range of application, owing to its property of high viscosity at low concentration. The thickening of any liquid with xanthan gum is easily achieved by simply blending it into required liquid. The product thickened using xanthan gum maintains its shape at the resting state and blends properly when stirred briefly.

Analyst Review :

Xanthan gum is a complex exopolysaccharide (polymer composed of sugar residues) secreted by a microorganism into the surrounding environment. It is soluble in hot & cold water and is insoluble in most organic solvents. It is acceptable to use with several materials, and dissolves directly in highly alkaline, acidic, and alcoholic systems. It is considered as a harmless food additive and is in broad range of applications, such as food & beverages, medical, personal care & cosmetics, and oil & gas, and others. In 2016, the food & beverages segment accounted for two-third share of the global market and is expected to witness the highest growth rate, registering a CAGR of 6.2% during the forecast period.

The thickening agent segment is expected to witness the highest growth rate, registering a CAGR of 6.3% during the forecast period. It is widely used as a thickening agent in broad range of application, owing to its property of high viscosity at low concentration. The thickening of liquid with xanthan gum is quite easy as it thickens liquid very quickly by simply blending it into required liquid.

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