Report : Asia Pacific Xanthan Gum Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Form (Dry and Liquid) and Application (Food and Beverages, Oil and Gas, Pharmaceuticals and Nutraceuticals, Personal Care, and Others)

Liquid is expected to be the fastest growing segment during the forecast period 2021–2028

 According to a new market research study on “Asia Pacific Xanthan Gum Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Form and Application,” is expected to reach US$ 458.48 million by 2028 from US$ 325.07 million in 2021. The market is estimated to grow at a CAGR of 5.0% from 2021 to 2028. The report provides opportunity prevailing in the Asia Pacific xanthan gum market along with the drivers, trend and restraints pertaining to the market growth. Elevating demand from oil & gas industry, heighten product innovations in xanthan gum market, and increase in demand for gluten-free food products  are the major factor driving the growth of the Asia Pacific xanthan gum market. However, availableness of Substitutes hinder the growth of Asia Pacific xanthan gum market.

The outbreak of COVID-19 is wreaking havoc on the economic growth of Asia Pacific. The severity of the consequences and impact is entirely dependent on the transmission of the novel coronavirus. Various governments in Asia Pacific are considering taking actions to limit the spread by imposing lockdowns, which is slowing down the operations of various industries in the region. This factor is anticipated to severely impact the growth of regional market. However, with increasing recovery rates, governments are easing out restrictions imposed on various industrial operations which is expected to create a positive impact for the growth of xanthan gum market across the region.

The Asia Pacific xanthan gum market is segmented on the bases of form, application, and country. Based on form, the market is segmented into dry and liquid. In 2020, dry segment held the largest share in the market and liquid is expected to be the fastest growing segment during the forecast period. Based on application, the xanthan gum market is segmented into food and beverages, oil and gas, pharmaceuticals and nutraceuticals, personal care, and others. In 2020, food and beverages segment held the largest share in the market and same segment is also expected to be the fastest growing segment during the forecast period. Based on country, the market is segmented into the Australia, China, India, Japan, South Korea, and Rest of APAC. In 2020, China held the largest share in the market and India is expected to be the fastest growing country during the forecast period.

ADM; Cargill, Incorporated; CP Kelco; Deosen; FUFENG GROUP; HEBEI XINHE BIOCHEMICAL CO. LTD; Ingredion Incorporated; Solvay; and UNIONCHEM are among the leading companies in the Asia Pacific xanthan gum market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

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