The use of xanthan gum is very common as a thickening as well as stabilizing agent in various industries like food, oil & gas, pharmaceutical and cosmetics. Apart from that there are wide ranges of industrial products where you can find the extensive use of this gum which is comes from the secretion of a microorganism which is present in various plants. This microorganism is known as plant-pathogenic bacterium. The global market of this gum is huge. Since, it is used in some of the leading industries of this time; the market value of this product is very high. The growth is constant and within 2021 this will reach to the highest point.
Huge Growth Within 2020
Food & Beverages, Oil & Gas, Pharmaceutical and cosmetics – all of these are the major industries of the world and they have huge scope of growth in the coming future. Since, xanthan gum is primarily used in these industries so that chance of reaching to the extreme point of growth is very close for this product. According to a recent market report on global market of this product it will reach $987 million in 2020. The growth of oil and gas industry is one of the main factors of this huge growth of this gum within next 4-5 years.
Strong Relation with Food and Beverage Industry
This is another vital industry of this modern time. It is proved that food and beverage industry will become one of the richest industries of the coming era. This industry will become the second biggest industry where the application of this gum will reach to a higher level within next 5 years. The growth will be more than 80% than the market in terms of sell and revenue collection in 2013. This gum is considered as a great alternative for guar gum in terms of price. This is the reason it is widely used in the Indian and Chinese markets where the number of restaurants and cafes is increasing every day.
Largest Market of the Product
According to some recent studies on the global market of xanthan gum, Asia Pacific is the largest market for this product. The growing market of food and beverages in China, India Singapore and Malaysia is responsible for that. It is expected that within 202 these countries will help the business of xanthan gum to reach the top level. Thus, the manufacturers of this item are looking forward to this geographical location for getting much support in the development process of their business.
Growth According to the Lifestyle
The changing lifestyle of average people is too some extent responsible for the growth of xanthan gum market in the global perspective. Modern people love to eat in the restaurants and use cars and other products that are run on oil and gas. Thus the demand of high quality xanthan gum is increasing day after days. Within 2020 it will be one of the dominating products that are required in the food and beverage as well as oil & gas industry. Apart from that cosmetics industry is also responsible for the rapid growth of this market in this current time.