Xanthan Gum Market Size By Application (Food & Beverages, Oil & Gas, Pharmaceutical, Cosmetics, and Others) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 - 2030

Xanthan Gum Market Size By Application (Food & Beverages, Oil & Gas, Pharmaceutical, Cosmetics, and Others) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 - 2030

The xanthan gum market is projected to witness substantial growth from 2022-2028, given the rising investment interest in the oil and gas industry to capitalize on the surging crude oil prices.

As per data from the CAPP (Canadian Association of Petroleum Producers), capital spending by oil and gas providers is set to rise by 22% to USD 26.28 billion in the country in 2022. This increase in investment is expected to bolster the demand for xanthan gum used in oilfields as drilling fluids.

Additionally, the rising emphasis on ensuring an uninterrupted supply of medications, especially during the COVID-19 pandemic, is also providing lucrative opportunities for industry development.

For example, the European Medicines Agency and its partners across the medicines regulatory network introduced varied measures to help prevent and mitigate medicine supply disruptions in the European Union during the pandemic. These initiatives are anticipated to escalate the adoption of xanthan gum as a suspending and thickening agent for pharmaceutical formulations.

The xanthan gum market is bifurcated on the basis of application and regional landscape.

In terms of application, the industry is segregated into oil and gas, food and beverages, cosmetics, pharmaceuticals, and others. The cosmetics segment is expected to depict a CAGR of over 4.5% through 2030.

Xanthan gum is employed in aqueous-based systems as a viscosity modifier and stabilizer. Solutions that contain this additive can also exhibit shear thinning flow behavior and pseudo-plasticity, driving segmental growth.

The common benefits of xanthan gum in hair care products such as shampoos include high stabilization and suspension, alongside improvement in lathering properties. Furthermore, it has been gaining popularity as a non-toxic, natural, and no-irritating agent bolstering the overall industry outlook from the cosmetics segment.

From a regional perspective, the Latin American xanthan gum industry is set to attain a valuation of nearly USD 30 million by 2030. The mounting usage of additives for flavor, preservatives, emulsifiers, enhancers, and colorants in the food and beverage sector is strengthening regional industry demand. Likewise, the growing consumption of packaged and convenience foods is likely to increase product usage as a food additive.

The Middle East and Africa region is set to be valued at over USD 50 million by 2030, emerging as a prominent manufacturing hub for xanthan gum. The robust demand for sustainable solutions in the thriving oil and gas industry will further bolster regional growth.