The global xanthan gum market is dominated by a handful vendors, as reported by Transparency Market Research (TMR). With a positive growth trajectory, the global xanthan gum market has a consolidated business landscape. Currently, the market is Fufeng Group Co. Ltd., CP Kelco, and Deosen are the top 3 vendors operating in the industry.
In 2015, these vendors held more approximately 58% share of the overall market share. This situation is likely to remain stable over the forecast period. Vendors are seen keenly focusing on supply chain integration as a technique to maximize production efficiency and profits.
Established vendors in the global xanthan gum market are anticipated to undertake several organic and inorganic growth strategies over the forecast period in order to gain momentum. A key strategy among these is expansion of their product portfolio. The players are seen offering both cost effective alternatives in addition to premium products to capture the attention of middle class consumers. Another leading strategy taken up by prominent vendors is enlarging production capacities. This is expected to lower product price, and amplify sales in the global xanthan gum market in the forthcoming years.
TMR predicts that the global xanthan gum market will demonstrate a 7.70% CAGR over the forecast period of 2016 to 2024. The market was valued to be worth US$651.5 mn in 2015, and is projected to reach a value of US$1.25 bn by 2024, the end of the forecast duration. In terms of volume, the global xanthan gum market is prognosticated grow at a CAGR of 7.3% over the forecast period.
The accelerated growth of the xanthan gum market in these regions cumulatively is expected to augur well for the global market at large. These regions offer a lucrative growth opportunity to vendors operating in the global xanthan gum market.