Report : North America 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)

Dry Segment to dominate North America Xanthan Gum Market during 2020–2028

 According to a new market research study on “North America Xanthan Gum Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Form and Application,” is expected to reach US$ 195.31 million by 2028 from US$ 146.74 million in 2021. The market is estimated to grow at a CAGR of 4.2% from 2021 to 2028. The report provides opportunity prevailing in the North America xanthan gum market along with the drivers, trend and restraints pertaining to the market growth. Expanding demand for gluten-free food products, multiple-use of xanthan gum, and burgeoning demand from oil & gas industry are the major factor driving the growth of the North America xanthan gum market. However, presence of Substitutes hinder the growth of North America xanthan gum market.

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.

The North America 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 pharmaceuticals and nutraceuticals is expected to be the fastest growing segment during the forecast period. Based on country, the market is segmented into the US, Canada, and Mexico. In 2020, the US held the largest share in the market and Canada 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 SNP, Inc. are among the leading companies in the North America 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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