Report : South 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 South America Xanthan Gum Market during 2020–2028
According to a new market research study on “South America Xanthan Gum Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Form and Application,” is expected to reach US$ 33.10 million by 2028 from US$ 25.56 million in 2021. The market is estimated to grow at a CAGR of 3.8% from 2021 to 2028. The report provides opportunity prevailing in the South America xanthan gum market along with the drivers, trend and restraints pertaining to the market growth. Varied functionality of xanthan gum, scaling demand for gluten-free food products, and advanced product innovations in xanthan gum market are the major factor driving the growth of the South America xanthan gum market. However, Access of Substitutes hinder the growth of South America xanthan gum market.
The country with the most confirmed COVID-19 cases in South America was Brazil, followed by Argentina, Peru, Chile, and Ecuador. Governments across the region have implemented several preventive measures to protect their residents and limit the spread of the novel coronavirus. Limitations on operations of various industries across the region have adversely affected the demand for xanthan gum for different applications which is further expected to restrain the growth of xanthan gum market in South America.
The South 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 same segment is also expected to be the fastest growing segment during the forecast period. Based on country, the market is segmented into the Brazil, Argentina, and Rest of SAM. In 2020, Rest of SAM held the largest share in the market and Brazil 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; and Solvay. are among the leading companies in the South 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.