North America Xanthan Gum Market
North America is one of the leading regions comprising of attractive markets such as US, Canada, and Mexico. This region is contributing a major share in the growth of xanthan gum market. The processed food industry in the US is a significant contributor to the global economy, both in terms of exports and foreign direct investment. The US is home to more than a third of the world's top 50 food and beverage processing companies. Xanthan gum is widely utilized in food and beverages, as a stabilizer and thickening agent. It increases the viscosity of a liquid when used as a beverage additive. By stabilizing the emulsion in culinary preparations like dressings and sauces, xanthan gum helps to prevent oil separation. According to the U.S. Department of Agriculture, there has been a huge spike in consumption of meat and meat products is 2017 and is expected to grow rapidly in coming years. Xanthan gum is widely used in meat-based products. The use of xanthan gum in meat products including ham, luncheon meat, red sausage, and others can increase the product's water holding capacity, tenderness, color, and flavor. Thus, the well-flourished food and beverages industry in the region and various applications of xanthan gum across the food and beverages industries are some of the crucial factors driving the demand for xanthan gum in North America.
The US recorded the highest number of COVID-19 confirmed cases than Mexico and Canada. The crisis adversely affected the food & beverage industry in the region due to restricted supply chain. In addition, the overall disruptions in manufacturing process, supply chain disintegration, shortage of raw materials, and other factors has severely impacted the operations of various industries across the region leading to lowering in demand for xanthan gum. However, remarkable success of vaccination drives across the region is projected to have positive impact on business activities and economic growth which is projected to favor the growth of xanthan gum market in North America over the forecast period.
Strategic insights for the North America Xanthan Gum provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 146.74 Million |
| Market Size by 2028 | US$ 195.31 Million |
| Global CAGR (2021 - 2028) | 4.2% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Form
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Xanthan Gum refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The xanthan gum market in North America is expected to grow from US$ 146.74 million in 2021 to US$ 195.31 million by 2028; it is estimated to grow at a CAGR of 4.2% from 2021 to 2028. Xanthan gum is commonly utilized in oil recovery and oil drilling applications for many reasons, including reducing water mobility and improving stability against salt, temperature, and shear. In addition, xanthan gum is commonly used as a thickening agent in drilling mud to increase viscosity. It helps to improve oil flow by swelling and forming a gel-like consistency, making it easier for oil to flow and reducing prices. Xanthan gum mud additive is very effective and environmentally friendly, with a high tolerance for harsh drilling conditions such as temperature fluctuations, acidity, and alkalinity, which is further boosting its demand in the oil & gas industry. Further, the increasing demand for sustainable solutions in the oil and gas industry, as well as increased measures to improve brand image, are expected to drive the demand for xanthan gum. Xanthan gum is frequently utilized in upstream oil & gas activities since it facilitates the refining of raw crude oil. Furthermore, because of its high resonance with water and synthetic chemicals, and non-toxic nature, it is an effective alternative to corrosive and poisonous solutions, which is expected to increase the market share. Additionally, the rising oil & gas drilling activities in the US is expected to boost the demand for xanthan gum in the coming years. Companies such as CP Kelco (US) provide xanthan gum for oil & gas drilling applications, as well as for mineral mining and processing. Thus, the growing demand for xanthan gum for the oil & gas drilling industry is creating new opportunities for the manufacturers in the market.
In terms of form, the dry segment held a larger share in 2020. Based on application, food and beverages segment held the largest share in 2020.
A few major primary and secondary sources referred to for preparing this report on the xanthan gum market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are ADM; Cargill, Incorporated; CP Kelco; Deosen; FUFENG GROUP; HEBEI XINHE BIOCHEMICAL CO. LTD; Ingredion Incorporated; Solvay; and SNP, Inc. among others.
The North America Xanthan Gum Market is valued at US$ 146.74 Million in 2021, it is projected to reach US$ 195.31 Million by 2028.
As per our report North America Xanthan Gum Market, the market size is valued at US$ 146.74 Million in 2021, projecting it to reach US$ 195.31 Million by 2028. This translates to a CAGR of approximately 4.2% during the forecast period.
The North America Xanthan Gum Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Xanthan Gum Market report:
The North America Xanthan Gum Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Xanthan Gum Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Xanthan Gum Market value chain can benefit from the information contained in a comprehensive market report.
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