Xanthan gum finds wide application as an emulsifier, stabilizer, and thickening agent in various industries including, healthcare and food & beverages. Xanthan gum is widely used as a thickener in dairy products, beverages, bakery products, and sauces, thus holding a significance in the food and beverages industry. Furthermore, xanthan gum also finds fair application in the oil & gas industry, owing to its rheological properties, employed in brines and drilling fluids. The global market for xanthan gum is expected to grow at a steady pace during the forecast period, owing to its extensive application in industries such as oil and gas and food and beverages.
Market Dynamics
Growing awareness regarding the health benefits of consuming gluten-free products coupled with stringent regulations by the governmental organizations such United States Department of Agriculture (USDA) and Food and Drug Administration (FDA), are limiting the usage of gluten in food products. This is propelling demand for gluten-free food products, which in turn is fuelling growth of the xanthan gum market.
North America held a dominant position in the xanthan gum market in 2016, owing to its extensive application in the oil and gas industries. Growth of the oil and gas industry in North America has complimented the growth of the xanthan gum market in the region. Furthermore, increasing number of celiac gluten sensitivity cases is fueling demand for gluten-free food products, in turn, boosting growth of the xanthan gum market.
Asia Pacific is expected to project the fastest growth in the global xanthan gum market throughout the forecast period. Rapid adoption of xanthan gum in the food & beverages and pharmaceuticals industries is largely contributing to the overall growth of the xanthan gum market in the region. Moreover, high demand for processed food in emerging economies such as India, China, Vietnam, and Indonesia, coupled with rapid developments in the oil & gas industry are expected to complement growth of the xanthan gum market in Asia Pacific
Market Taxonomy
The report segments the global xanthan gum market on the basis of form, function, end-use industry, and geography. On the basis of form, the market is segmented into dry and liquid. On the basis of function, the market is segmented into thickeners, stabilizers, fat replacers, coating materials, gelling agents, and others. On the basis of end-use industry, the market is segmented into food and beverages, pharmaceutical, oil & gas, Confectionery, paint & coatings, and others. On the basis of geography, the market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
Key features of the study:
This report provides in-depth analysis of the xanthan gum market and provides market size (US$ Mn) and Cumulative Annual Growth Rate (CAGR) (%) for the forecast period (2017–2025)
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market. It provides valuable insights about market drivers, restraints, opportunities, new product launches or approval, pipeline products, regional outlook, and competitive strategy adopted by the leading players
It profiles leading players in the global xanthan gum market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, key developments, and future plans
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions with respect to their future product launch, market expansion, and marketing tactics
The global xanthan gum market report caters to various stakeholders in this industry, including investors, product developers, distributors, healthcare companies, research institutes, medical devices companies, new entrants, and financial analysts
Stakeholders would greatly benefit in decision-making through the various strategy matrices used in analyzing the xanthan gum market.
Detailed Segmentation
Global Xanthan Gum Market, By Form
Dry
Liquid
Global Xanthan Gum Market, By Function
Thickeners
Stabilizers
Fat Replacers
Coating Materials
Gelling Agents
Others
Global Xanthan Gum Market, By End-use Industry
Food and Beverages
Meat and Poultry
Bakery
Confectionery
Pharmaceuticals
Oil and Gas
Agrochemicals
Paints and Coatings
Others
Global Xanthan Gum Market, By Geography:
North America
S.
By Form
Dry
Liquid
By Function
Thickeners
Stabilizers
Fat Replacers
Coating Materials
Gelling Agents
Others
By End-use Industry
Food and Beverages
Meat and Poultry
Bakery
Confectionery
Pharmaceuticals
Oil and Gas
Agrochemicals
Paints and Coatings
Others
Canada
By Form
Dry
Liquid
By Function
Thickeners
Stabilizers
Fat Replacers
Coating Materials
Gelling Agents
Others
By End-use Industry
Food and Beverages
Meat and Poultry
Bakery
Confectionery
Pharmaceuticals
Oil and Gas
Agrochemicals
Paints and Coatings
Others
Europe
U.K.
By Form
Dry
Liquid
By Function
Thickeners
Stabilizers
Fat Replacers
Coating Materials
Gelling Agents
Others
By End-use Industry
Food and Beverages
Meat and Poultry
Bakery
Confectionery
Pharmaceuticals
Oil and Gas
Agrochemicals
Paints and Coatings
Others
Germany
By Form
Dry
Liquid
By Function
Thickeners
Stabilizers
Fat Replacers
Coating Materials
Gelling Agents
Others
By End-use Industry
Food and Beverages
Meat and Poultry
Bakery
Confectionery
Pharmaceuticals
Oil and Gas
Agrochemicals
Paints and Coatings
Others
Italy
By Form
Dry
Liquid
By Function
Thickeners
Stabilizers
Fat Replacers
Coating Materials
Gelling Agents
Others
By End-use Industry
Food and Beverages
Meat and Poultry
Bakery
Confectionery
Pharmaceuticals
Oil and Gas
Agrochemicals
Paints and Coatings
Others
France
By Form
Dry
Liquid
By Function
Thickeners
Stabilizers
Fat Replacers
Coating Materials
Gelling Agents
Others
By End-use Industry
Food and Beverages
Meat and Poultry
Bakery
Confectionery
Pharmaceuticals
Oil and Gas
Agrochemicals
Paints and Coatings
Others
Spain
By Form
Dry
Liquid
By Function
Thickeners
Stabilizers
Fat Replacers
Coating Materials
Gelling Agents
Others
By End-use Industry
Food and Beverages
Meat and Poultry
Bakery
Confectionery
Pharmaceuticals
Oil and Gas
Agrochemicals
Paints and Coatings
Others
Russia
By Form
Dry
Liquid
By Function
Thickeners
Stabilizers
Fat Replacers
Coating Materials
Gelling Agents
Others
By End-use Industry
Food and Beverages
Meat and Poultry
Bakery
Confectionery
Pharmaceuticals
Oil and Gas
Agrochemicals
Paints and Coatings
Others
Rest of Europe
By Form
Dry
Liquid
By Function
Thickeners
Stabilizers
Fat Replacers
Coating Materials
Gelling Agents
Others
By End-use Industry
Food and Beverages
Meat and Poultry
Bakery
Confectionery
Pharmaceuticals
Oil and Gas
Agrochemicals
Paints and Coatings
Others
Asia Pacific
China
By Form
Dry
Liquid
By Function
Thickeners
Stabilizers
Fat Replacers
Coating Materials
Gelling Agents
Others
By End-use Industry
Food and Beverages
Meat and Poultry
Bakery
Confectionery
Pharmaceuticals
Oil and Gas
Agrochemicals
Paints and Coatings
Others
India
By Form
Dry
Liquid
By Function
Thickeners
Stabilizers
Fat Replacers
Coating Materials
Gelling Agents
Others
By End-use Industry
Food and Beverages
Meat and Poultry
Bakery
Confectionery
Pharmaceuticals
Oil and Gas
Agrochemicals
Paints and Coatings
Others
Japan
By Form
Dry
Liquid
By Function
Thickeners
Stabilizers
Fat Replacers
Coating Materials
Gelling Agents
Others
By End-use Industry
Food and Beverages
Meat and Poultry
Bakery
Confectionery
Pharmaceuticals
Oil and Gas
Agrochemicals
Paints and Coatings
Others
ASEAN
By Form
Dry
Liquid
By Function
Thickeners
Stabilizers
Fat Replacers
Coating Materials
Gelling Agents
Others
By End-use Industry
Food and Beverages
Meat and Poultry
Bakery
Confectionery
Pharmaceuticals
Oil and Gas
Agrochemicals
Paints and Coatings
Others
Australia
By Form
Dry
Liquid
By Function
Thickeners
Stabilizers
Fat Replacers
Coating Materials
Gelling Agents
Others
By End-use Industry
Food and Beverages
Meat and Poultry
Bakery
Confectionery
Pharmaceuticals
Oil and Gas
Agrochemicals
Paints and Coatings
Others
South Korea
By Form
Dry
Liquid
By Function
Thickeners
Stabilizers
Fat Replacers
Coating Materials
Gelling Agents
Others
By End-use Industry
Food and Beverages
Meat and Poultry
Bakery
Confectionery
Pharmaceuticals
Oil and Gas
Agrochemicals
Paints and Coatings
Others
Rest of Asia Pacific
By Form
Dry
Liquid
By Function
Thickeners
Stabilizers
Fat Replacers
Coating Materials
Gelling Agents
Others
By End-use Industry
Food and Beverages
Meat and Poultry
Bakery
Confectionery
Pharmaceuticals
Oil and Gas
Agrochemicals
Paints and Coatings
Others
Latin America
Brazil
By Form
Dry
Liquid
By Function
Thickeners
Stabilizers
Fat Replacers
Coating Materials
Gelling Agents
Others
By End-use Industry
Food and Beverages
Meat and Poultry
Bakery
Confectionery
Pharmaceuticals
Oil and Gas
Agrochemicals
Paints and Coatings
Others
Argentina
By Form
Dry
Liquid
By Function
Thickeners
Stabilizers
Fat Replacers
Coating Materials
Gelling Agents
Others
By End-use Industry
Food and Beverages
Meat and Poultry
Bakery
Confectionery
Pharmaceuticals
Oil and Gas
Agrochemicals
Paints and Coatings
Others
Rest of Latin America
By Form
Dry
Liquid
By Function
Thickeners
Stabilizers
Fat Replacers
Coating Materials
Gelling Agents
Others
By End-use Industry
Food and Beverages
Meat and Poultry
Bakery
Confectionery
Pharmaceuticals
Oil and Gas
Agrochemicals
Paints and Coatings
Others
Africa
Northern Africa
By Form
Dry
Liquid
By Function
Thickeners
Stabilizers
Fat Replacers
Coating Materials
Gelling Agents
Others
By End-use Industry
Food and Beverages
Meat and Poultry
Bakery
Confectionery
Pharmaceuticals
Oil and Gas
Agrochemicals
Paints and Coatings
Others
Central Africa
By Form
Dry
Liquid
By Function
Thickeners
Stabilizers
Fat Replacers
Coating Materials
Gelling Agents
Others
By End-use Industry
Food and Beverages
Meat and Poultry
Bakery
Confectionery
Pharmaceuticals
Oil and Gas
Agrochemicals
Paints and Coatings
Others
South Africa
By Form
Dry
Liquid
By Function
Thickeners
Stabilizers
Fat Replacers
Coating Materials
Gelling Agents
Others
By End-use Industry
Food and Beverages
Meat and Poultry
Bakery
Confectionery
Pharmaceuticals
Oil and Gas
Agrochemicals
Paints and Coatings
Others
Middle East
GCC
By Form
Dry
Liquid
By Function
Thickeners
Stabilizers
Fat Replacers
Coating Materials
Gelling Agents
Others
By End-use Industry
Food and Beverages
Meat and Poultry
Bakery
Confectionery
Pharmaceuticals
Oil and Gas
Agrochemicals
Paints and Coatings
Others
Israel
By Form
Dry
Liquid
By Function
Thickeners
Stabilizers
Fat Replacers
Coating Materials
Gelling Agents
Others
By End-use Industry
Food and Beverages
Meat and Poultry
Bakery
Confectionery
Pharmaceuticals
Oil and Gas
Agrochemicals
Paints and Coatings
Others
Rest of Middle-East
By Form
Dry
Liquid
By Function
Thickeners
Stabilizers
Fat Replacers
Coating Materials
Gelling Agents
Others
By End-use Industry
Food and Beverages
Meat and Poultry
Bakery
Confectionery
Pharmaceuticals
Oil and Gas
Agrochemicals
Paints and Coatings
Others
Company Profiles
CP Kelco*
Company Overview
Product Portfolio
Market Presence
Financial Overview
Key Developments
Strategies
Cargill Inc.
E.I. Du. Pont De Nemours and Company
Fufeng Group Company Ltd.
FMC BioPolymer
Archer Daniels Midland Company
Fuerst Day Lawson
Zoranoc Oilfield Chemical
Ingredion Incorporated
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
1. Research Objective and Assumptions
o Research Objectives
o Assumptions
o Abbreviations
2. Market Purview
o Report Description
? Market Definition and Scope
o Executive Summary
? Market Snippet By Form
? Market Snippet By Function
? Market Snippet By End-Use Industry
? Market Snippet By Region
o Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
o Market Dynamics
? Drivers
? Restraints
? Market Opportunities
? Regulatory Scenario
? Industry Trend
? Merger and Acquisitions
? New Function Approvals/Launch
? Promotion and Marketing Initiatives
o Cost Tier Down Analysis
4. Global Xanthan Gum Market, By Form, 2016- 2025 (USD Million)
o Introduction
? Market Share Analysis, 2016 and 2025 (%)
? Y-O-Y Growth Analysis, 2016 - 2025
? Segment Trends
o Dry
? Introduction
? Market Size and Forecast, and Y-O-Y Growth, 2016 - 2025, (USD Million)
o Liquid
? Introduction
? Market Size and Forecast, and Y-O-Y Growth, 2016 - 2025, (USD Million)
5. Global Xanthan Gum Market, By Function, 2016 - 2025 (USD Million)
o Introduction
? Market Share Analysis, 2016 and 2025 (%)
? Y-O-Y Growth Analysis, 2016 - 2025
? Segment Trends
o Thickeners
? Introduction
? Market Size and Forecast, and Y-O-Y Growth, 2016 - 2025, (USD Million)
o Stabilizers
? Introduction
? Market Size and Forecast, and Y-O-Y Growth, 2016 - 2025, (USD Million)
o Fat replacers
? Introduction
? Market Size and Forecast, and Y-O-Y Growth, 2016 - 2025, (USD Million)
o Coating Materials
? Introduction
? Market Size and Forecast, and Y-O-Y Growth, 2016 - 2025, (USD Million)
o Gelling Agents
? Introduction
? Market Size and Forecast, and Y-O-Y Growth, 2016 - 2025, (USD Million)
o Others
? Introduction
? Market Size and Forecast, and Y-O-Y Growth, 2016 - 2025, (USD Million)
6. Global Xanthan Gum Market, By End-Use Industry, 2016 - 2025 (USD Million)
o Introduction
? Market Share Analysis, 2016 and 2025 (%)
? Y-O-Y Growth Analysis, 2016 - 2025
? Segment Trends
o Food and Beverages
? Introduction
? Market Size and Forecast, and Y-O-Y Growth, 2016 - 2025, (USD Million)
? Meat & Poultry
? Bakery
? Confectionery
o Pharmaceuticals
? Introduction
? Market Size and Forecast, and Y-O-Y Growth, 2016 - 2025, (USD Million)
o Oil and gas
? Introduction
? Market Size and Forecast, and Y-O-Y Growth, 2016 - 2025, (USD Million)
o Agrochemicals
? Introduction
? Market Size and Forecast, and Y-O-Y Growth, 2016 - 2025, (USD Million)
o Paints and coatings
? Introduction
? Market Size and Forecast, and Y-O-Y Growth, 2016 - 2025, (USD Million)
o Others
? Introduction
? Market Size and Forecast, and Y-O-Y Growth, 2016 - 2025, (USD Million)
7. Global Xanthan Gum Market, By Region, 2016 - 2025 (USD Million)
o Introduction
? Market Share Analysis, By Region, 2016 and 2025 (%)
? Y-O-Y Growth Analysis, For Regions, 2016 - 2025
o North America
? Market Share Analysis, By Country, 2016 and 2025 (%)
? Y-O-Y Growth Analysis, By Country, 2016 - 2025
? U.S.
? Country Trends
? Market Size and Forecast, By Form, 2016 - 2025 (USD Million)
? Market Size and Forecast, By Function, 2016 - 2025 (USD Million)
? Market Size and Forecast, By End-Use Industry, 2016 - 2025 (USD Million)
? Canada
? Country Trends
? Market Size and Forecast, By Form, 2016 - 2025 (USD Million)
? Market Size and Forecast, By Function, 2016 - 2025 (USD Million)
? Market Size and Forecast, By End-Use Industry, 2016 - 2025 (USD Million)
o Europe
? Market Share Analysis, By Country, 2016 and 2025 (%)
? Y-O-Y Growth Analysis, By Country, 2016 - 2025
? U.K.
? Country Trends
? Market Size and Forecast, By Form, 2016 - 2025 (USD Million)
? Market Size and Forecast, By Function, 2016 - 2025 (USD Million)
? Market Size and Forecast, By End-Use Industry, 2016 - 2025 (USD Million)
? Germany
? Country Trends
? Market Size and Forecast, By Form, 2016 - 2025 (USD Million)
? Market Size and Forecast, By Function, 2016 - 2025 (USD Million)
? Market Size and Forecast, By End-Use Industry, 2016 - 2025 (USD Million)
? Italy
? Country Trends
? Market Size and Forecast, By Form, 2016 - 2025 (USD Million)
? Market Size and Forecast, By Function, 2016 - 2025 (USD Million)
? Market Size and Forecast, By End-Use Industry, 2016 - 2025 (USD Million)
? France
? Country Trends
? Market Size and Forecast, By Form, 2016 - 2025 (USD Million)
? Market Size and Forecast, By Function, 2016 - 2025 (USD Million)
? Market Size and Forecast, By End-Use Industry, 2016 - 2025 (USD Million)
? Spain
? Country Trends
? Market Size and Forecast, By Form, 2016 - 2025 (USD Million)
? Market Size and Forecast, By Function, 2016 - 2025 (USD Million)
? Market Size and Forecast, By End-Use Industry, 2016 - 2025 (USD Million)
? Russia
? Country Trends
? Market Size and Forecast, By Form, 2016 - 2025 (USD Million)
? Market Size and Forecast, By Function, 2016 - 2025 (USD Million)
? Market Size and Forecast, By End-Use Industry, 2016 - 2025 (USD Million)
? Rest of Europe
? Country Trends
? Market Size and Forecast, By Form, 2016 - 2025 (USD Million)
? Market Size and Forecast, By Function, 2016 - 2025 (USD Million)
? Market Size and Forecast, By End-Use Industry, 2016 - 2025 (USD Million)
o Asia Pacific
? Market Share Analysis, By Country, 2016 and 2025 (%)
? Y-O-Y Growth Analysis, By Country, 2016 - 2025
? China
? Country Trends
? Market Size and Forecast, By Form, 2016 - 2025 (USD Million)
? Market Size and Forecast, By Function, 2016 - 2025 (USD Million)
? Market Size and Forecast, By End-Use Industry, 2016 - 2025 (USD Million)
? India
? Country Trends
? Market Size and Forecast, By Form, 2016 - 2025 (USD Million)
? Market Size and Forecast, By Function, 2016 - 2025 (USD Million)
? Market Size and Forecast, By End-Use Industry, 2016 - 2025 (USD Million)
? Japan
? Country Trends
? Market Size and Forecast, By Form, 2016 - 2025 (USD Million)
? Market Size and Forecast, By Function, 2016 - 2025 (USD Million)
? Market Size and Forecast, By End-Use Industry, 2016 - 2025 (USD Million)
? ASEAN
? Country Trends
? Market Size and Forecast, By Form, 2016 - 2025 (USD Million)
? Market Size and Forecast, By Function, 2016 - 2025 (USD Million)
? Market Size and Forecast, By End-Use Industry, 2016 - 2025 (USD Million)
? Australia
? Country Trends
? Market Size and Forecast, By Form, 2016 - 2025 (USD Million)
? Market Size and Forecast, By Function, 2016 - 2025 (USD Million)
? Market Size and Forecast, By End-Use Industry, 2016 - 2025 (USD Million)
? South Korea
? Country Trends
? Market Size and Forecast, By Form, 2016 - 2025 (USD Million)
? Market Size and Forecast, By Function, 2016 - 2025 (USD Million)
? Market Size and Forecast, By End-Use Industry, 2016 - 2025 (USD Million)
? Rest of Asia Pacific
? Country Trends
? Market Size and Forecast, By Form, 2016 - 2025 (USD Million)
? Market Size and Forecast, By Function, 2016 - 2025 (USD Million)
? Market Size and Forecast, By End-Use Industry, 2016 - 2025 (USD Million)
o Latin America
? Market Share Analysis, By Country, 2016 and 2025 (%)
? Y-O-Y Growth Analysis, By Country, 2016 - 2025
? Brazil
? Country Trends
? Market Size and Forecast, By Form, 2016 - 2025 (USD Million)
? Market Size and Forecast, By Function, 2016 - 2025 (USD Million)
? Market Size and Forecast, By End-Use Industry, 2016 - 2025 (USD Million)
? Argentina
? Country Trends
? Market Size and Forecast, By Form, 2016 - 2025 (USD Million)
? Market Size and Forecast, By Function, 2016 - 2025 (USD Million)
? Market Size and Forecast, By End-Use Industry, 2016 - 2025 (USD Million)
? Rest of Latin America
? Country Trends
? Market Size and Forecast, By Form, 2016 - 2025 (USD Million)
? Market Size and Forecast, By Function, 2016 - 2025 (USD Million)
? Market Size and Forecast, By End-Use Industry, 2016 - 2025 (USD Million)
o Africa
? Market Share Analysis, By Country, 2016 and 2025 (%)
? Y-O-Y Growth Analysis, By Country, 2016 - 2025
? Northern Africa
? Country Trends
? Market Size and Forecast, By Form, 2016 - 2025 (USD Million)
? Market Size and Forecast, By Function, 2016 - 2025 (USD Million)
? Market Size and Forecast, By End-Use Industry, 2016 - 2025 (USD Million)
? Central Africa
? Country Trends
? Market Size and Forecast, By Form, 2016 - 2025 (USD Million)
? Market Size and Forecast, By Function, 2016 - 2025 (USD Million)
? Market Size and Forecast, By End-Use Industry, 2016 - 2025 (USD Million)
? South Africa
? Country Trends
? Market Size and Forecast, By Form, 2016 - 2025 (USD Million)
? Market Size and Forecast, By Function, 2016 - 2025 (USD Million)
? Market Size and Forecast, By End-Use Industry, 2016 - 2025 (USD Million)
o Middle East
? Market Share Analysis, By Country, 2016 and 2025 (%)
? Y-O-Y Growth Analysis, By Country, 2016 - 2025
? GCC
? Country Trends
? Market Size and Forecast, By Form, 2016 - 2025 (USD Million)
? Market Size and Forecast, By Function, 2016 - 2025 (USD Million)
? Market Size and Forecast, By End-Use Industry, 2016 - 2025 (USD Million)
? Israel
? Country Trends
? Market Size and Forecast, By Form, 2016 - 2025 (USD Million)
? Market Size and Forecast, By Function, 2016 - 2025 (USD Million)
? Market Size and Forecast, By End-Use Industry, 2016 - 2025 (USD Million)
? Rest of Middle East
? Country Trends
? Market Size and Forecast, By Form, 2016 - 2025 (USD Million)
? Market Size and Forecast, By Function, 2016 - 2025 (USD Million)
? Market Size and Forecast, By End-Use Industry, 2016 - 2025 (USD Million)
8. Competitive Landscape
o Heat Map Analysis
o Market Share Analysis (3x3 Matrix)
o Company Profiles
? CP Kelco
? Company Overview
? Function Portfolio
? Financial Performance
? Recent Developments/Updates
? Future Plans
? Cargill Inc.
? Company Overview
? Function Portfolio
? Financial Performance
? Recent Developments/Updates
? Future Plans
? E.I. Du. Pont De Nemours and Company
? Company Overview
? Function Portfolio
? Financial Performance
? Recent Developments/Updates
? Future Plans
? Fufeng Group Company Ltd.
? Company Overview
? Function Portfolio
? Financial Performance
? Recent Developments/Updates
? Future Plans
? FMC BioPolymer
? Company Overview
? Function Portfolio
? Financial Performance
? Recent Developments/Updates
? Future Plans
? Archer Daniels Midland Company
? Company Overview
? Function Portfolio
? Financial Performance
? Recent Developments/Updates
? Future Plans
? Fuerst Day Lawson
? Company Overview
? Function Portfolio
? Financial Performance
? Recent Developments/Updates
? Future Plans
? Zoranoc Oilfield Chemical
? Company Overview
? Function Portfolio
? Financial Performance
? Recent Developments/Updates
? Future Plans
? Ingredion Incorporated
? Company Overview
? Function Portfolio
? Financial Performance
? Recent Developments/Updates
? Future Plans
o Analyst Views
9. Section
o References
o Research Methodology
o About us and Sales Contact
* Browse 150 market data tables* and 80 figures* on "Xanthan Gum Market" - Global forecast to 2025.