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)
Market Introduction
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.
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Market Overview and Dynamics
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.
Key Market Segments
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.
Major Sources and Companies Listed
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.
Reasons to buy report
- To understand the North America xanthan gum market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for North America xanthan gum market
- Efficiently plan M&A and partnership deals in North America xanthan gum market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America xanthan gum market
- Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.
North America Xanthan Gum Market Segmentation
North America Xanthan Gum Market – By Form
- Dry
- Liquid
North America Xanthan Gum Market – By Application
- Food and Beverages
- Oil and Gas
- Pharmaceuticals and Nutraceuticals
- Personal Care
- Others
North America Xanthan Gum Market – By Country
- US
- Canada
- Mexico
North America Xanthan Gum Market – Companies Mentioned
- ADM
- Cargill, Incorporated
- CP Kelco
- Deosen
- FUFENG GROUP
- HEBEI XINHE BIOCHEMICAL CO. LTD
- Ingredion Incorporated
- Solvay
- SNP, Inc.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. North America Xanthan Gum Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Threat of New Entrants:
4.2.2 Bargaining Power of Buyers:
4.2.3 Bargaining Power of Suppliers:
4.2.4 Competitive Rivalry:
4.2.5 Threat of Substitutes:
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America Xanthan Gum Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Expanding Demand for Gluten-Free Food Products
5.1.2 Multiple-use of Xanthan Gum
5.2 Market Restraints
5.2.1 Presence of Substitutes
5.3 Market Opportunities
5.3.1 Burgeoning Demand from Oil & Gas Industry
5.4 Future Trends
5.4.1 Up-scaling Product Innovations in Xanthan Gum Market
5.5 Impact Analysis of Drivers and Restraint
6. North America Xanthan Gum – Market Analysis
6.1 North America Xanthan Gum Market Overview
6.1.1 North America: Xanthan Gum Market –Revenue and Forecast to 2028 (US$ Million)
7. North America Xanthan Gum Market Analysis – By Form
7.1 Overview
7.2 North America Xanthan Gum Market, By Form
7.3 Dry
7.3.1 Overview
7.3.2 Dry : Xanthan Gum Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Liquid
7.4.1 Overview
7.4.2 Liquid : Xanthan Gum Market – Revenue and Forecast to 2028 (US$ Million)
8. North America Xanthan Gum Market Analysis – By Application
8.1 Overview
8.2 North America Xanthan Gum Market, by Application
8.3 Food and Beverages
8.3.1 Overview
8.3.2 Food and Beverages: Xanthan Gum Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Pharmaceuticals and Nutraceuticals
8.4.1 Overview
8.4.2 Pharmaceuticals and Nutraceuticals: Xanthan Gum Market – Revenue and Forecast to 2028 (US$ million)
8.5 Personal Care
8.5.1 Overview
8.5.2 Personal Care: Xanthan Gum Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Oil & Gas
8.6.1 Overview
8.6.2 Oil & Gas: Xanthan Gum Market – Revenue and Forecast to 2028 (US$ Million)
8.7 Others
8.7.1 Overview
8.7.2 Others: Xanthan Gum Market – Revenue and Forecast to 2028 (US$ Million)
9. North America Xanthan Gum Market – Country Analysis
9.1 Overview
9.1.1 North America: Xanthan Gum Market, by Key Country
9.1.1.1 US: Xanthan Gum Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 US: Xanthan Gum Market, by Form
9.1.1.1.2 US: Xanthan Gum Market, by Application
9.1.1.2 Canada: Xanthan Gum Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Canada: Xanthan Gum Market, by Form
9.1.1.2.2 Canada: Xanthan Gum Market, by Application
9.1.1.3 Mexico: Xanthan Gum Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 Mexico: Xanthan Gum Market, by Form
9.1.1.3.2 Mexico: Xanthan Gum Market, by Application
10. North America Xanthan Gum Market – Impact of COVID-19 Pandemic
10.1 Overview
11. Company Profiles
11.1 ADM
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Cargill, Incorporated
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 CP Kelco
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Deosen
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 FUFENG GROUP
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 HEBEI XINHE BIOCHEMICAL CO. LTD
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Ingredion Incorporated
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 SNP, Inc.
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 Solvay
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Glossary
LIST OF TABLES
Table 1. North America Xanthan Gum Market – Revenue Forecast to 2028 (US$ Million)
Table 2. US Xanthan Gum Market, by Form – Revenue and Forecast to 2028 (US$ Mn)
Table 3. US Xanthan Gum Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 4. Canada Xanthan Gum Market, by Form – Revenue and Forecast to 2028 (US$ Mn)
Table 5. Canada Xanthan Gum Market, by Application – Revenue and Forecast to 2028 (US$ Mn)
Table 6. Mexico Xanthan Gum Market, by Form – Revenue and Forecast to 2028 (US$ Mn)
Table 7. Mexico Xanthan Gum Market, by Application – Revenue and Forecast to 2028 (US$ Mn)
Table 8. Glossary of terms, Xanthan Gum Market
LIST OF FIGURES
Figure 1. North America Xanthan Gum Market Segmentation
Figure 2. North America Xanthan Gum Market Segmentation – By Country
Figure 3. North America Xanthan Gum Market Overview
Figure 4. Food Segment Held Largest Share of Xanthan Gum Market
Figure 5. The US Held Largest Share of North America Xanthan Gum Market
Figure 6. Porter’s Five Forces Analysis
Figure 7. Ecosystem: Xanthan Gums
Figure 8. Expert Opinion
Figure 9. North America Xanthan Gum Market Impact Analysis of Driver and Restraint
Figure 10. North America: Xanthan Gum Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. North America: Xanthan Gum Market Revenue Share, by Form (2020 and 2028)
Figure 12. Dry: Xanthan Gum Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. Liquid : Xanthan Gum Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. North America Xanthan Gum Market Revenue Share, by Application (2020 and 2028)
Figure 15. Food and Beverages: Xanthan Gum Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Pharmaceuticals and Nutraceuticals: Xanthan Gum Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Personal Care: Xanthan Gum Market – Revenue and Forecast To 2028 (US$ Million)
Figure 18. Oil & Gas: Xanthan Gum Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Others: Xanthan Gum Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Geographic Overview of North America Xanthan Gum Market
Figure 21. North America: Xanthan Gum Market Revenue Share, by Key Country (2020 and 2028)
Figure 22. US: Xanthan Gum Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Canada: Xanthan Gum Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Mexico: Xanthan Gum Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Impact of COVID-19 Pandemic in North American Country Markets
- ADM
- Cargill, Incorporated
- CP Kelco
- Deosen
- FUFENG GROUP
- HEBEI XINHE BIOCHEMICAL CO. LTD
- Ingredion Incorporated
- Solvay
- SNP, Inc.
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