Guar Gum Market

Guar Gum Market was estimated at USD 605 Million in 2019 and predicted to grow at 4.8% CAGR during the forecast period.

Guar Gum Market Overview

Guar gum is a good source of high-quality galactomannan polysaccharide extracted from guar beans. It is mainly used in the form of guar gum powder in pharmaceuticals, paper manufacturing, textile, food & beverage, mining & explosives, and cosmetic industry. The guar gum is used as a binder, thickener, and plasticizer and helps in controlling health problems such as diabetes, heart disease, and other diseases. The various properties of guar gum include solubility in hot & cold water, insoluble in most organic solvents, and act as a thickening agent with high water binding capacity.

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Major Guar Gum Market Drivers

The growing consumer awareness regarding the health and nutritional benefits has led to an increasing interest in natural and organic products, which is the key driver of the global guar gum market. The significant change in the lifestyle of people and the strong demand for convenience food will further boost the demand of the global guar gum market. In parallel, the growing demand for guar gum in the oil & gas industry will create innumerable growth opportunities in the market over the coming years. The guar gum offers numerous health benefits such as increases glucose tolerance and reduces low-density lipoprotein cholesterol. Additionally, the accelerated usage as a natural ingredient in various industries such as food & beverages, mining & explosives, pharmaceuticals, and cosmetics industry, will further complement the growing demand of the market. Increasing product penetration in the pharmaceutical industry is expected to support the global guar gum market. On the other edge, the lack of R&D activities in some countries such as India and Pakistan and fluctuating prices of guar seeds and guar gum are the two major factors that will have a negative impact on the growing demand of the market.

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Based on the function, the gelling segment is anticipated to grow at a higher CAGR in the global guar gum market owing to its ability to act as a gelling agent in fracking fluid composition and its wide application in personal care and pharmaceutical products. The guar gum is used as a thickening and gelling agent in various food products such as desserts, jellies, and candies to enhance product texture.

On the basis of the grade, the Industrial-Grade segment is predicted to witness a higher CAGR due to the accelerated application of guar gum in various industrial verticals such as oil well drilling, water drilling, and geological drilling. In addition to this, industrial-grade guar gum is also used in mining, textile, explosives, and paper manufacturing industries. On the other hand, the food-Grade segment is anticipated to dominate the market during the forecast period attributed to the changing eating pattern of the consumer and increasing demand for food-grade along with the growing food processing industry will boost the growth of the segment.

Based on the application, the Oil & Gas application is expected to dominate the global guar gum market due to the shale gas boom in the North America region. Moreover, industrial-grade is widely used in the various oil and gas industry such as oil well stimulation, oil well fracturing, and oil recovery that are used to serve for multiple purposes such as enhancing stability against temperature and reducing water mobility. The Food & Beverage application is also expected to grow at a higher CAGR during the forecast period owing to the growing consumption of processed foods. Food & beverage application is further divided into bakery & confectionery products, dairy & frozen products, beverages, sauces & dressings, and others. The guar gum is widely used in various bakery & confectionery products, such as confectionery jellies, jelly beans, pastes, gummy, and chewy confections. It enhances the shelf life of products and accelerates the setting time, which will drive the demand for bakery and confectionery products in the food & beverage application in the market.

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Regional – Segment Analysis

Based on the region, the North America region is projected to grow at a higher CAGR during the forecast period attributed to the strong demand for natural additives and processed food among consumers. Moreover, increasing demand from the oil & gas industry for hydraulic fracturing will further drive the market growth of this region. Several key players are capturing the major share in the North America region include Cargill, Incorporated, Ingredion Incorporated, and Ashland Inc. On the other hand, the Asia-Pacific region is anticipated to lead the global guar gum market due to the rapid industrialization and growing food and beverage industry in emerging economies such as India and China in the market.

Top Market Players

Various notable players operating in the market include Cargill, Incorporated, Shree Ram Industries, E.I. Dupont De Nemours and Company, Ingredion Incorporated, Ashland Inc., Dabur India Ltd, Vikas WSP Ltd., Hindustan Gums and Chemical Limited, India Glycols Ltd, Neelkanth Polymers, Lucid Group, Global Gums and Chemicals Pvt Ltd, Guangrao Liuhe Chemical Co., Ltd., among others.

Key Developments:

• • In 2019, Vikas WSP Ltd launched a new guar gum product to stabilize coconut milk to meet the need of the consumers.
  • In 2017, Ingredion Incorporated acquired the TIC Gums Incorporated to expand its portfolio to enhance texture capabilities and formulation expertise.

Segments covered in the Report:

The global guar gum market has been segmented on the basis of function, grade, application and region. Based on function, the market is segmented into thickening, gelling, binding, friction reducing and others. Based on grade, the market is segmented into food-grade, industrial-grade and pharmaceutical-grade. Based on application, the market is segmented into oil & gas, food & beverages, mining & explosives, paper manufacturing, pharmaceuticals, cosmetics and others. Based on food & beverages, the market is further segmented into bakery & confectionery products, dairy & frozen products, beverages, sauces & dressings and others.

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Key questions answered in this research report:

• • At what pace is global Guar Gum Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Guar Gum Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Guar Gum Market?
  • Which Function generated maximum revenues in 2019 and identify the most promising Function during the forecast period?
  • What are the various Grades of global Guar Gum Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation:

Global Guar Gum Market by Function

• • Thickening
  • Gelling
  • Binding
  • Friction Reducing
  • Others

Global Guar Gum Market by Grade

• • Food-Grade
  • Industrial-Grade
  • Pharmaceutical-Grade

Global Guar Gum Market by Application

• • Oil & Gas
  • Food & Beverages
    • Bakery & Confectionery Products
    • Dairy & Frozen Products
    • Beverages
    • Sauces & Dressings
    • Others
  • Mining & Explosives
  • Paper Manufacturing
  • Pharmaceuticals
  • Cosmetics
  • Others

Global Guar Gum Market by Region

• • North America Guar Gum Market (Option 1: As a part of the free 25% customization)

    • North America Guar Gum Market by Function
    • North America Guar Gum Market by Grade
    • North America Guar Gum Market by Application
    • United States of America (US) Guar Gum Market All-Up
    • Canada Guar Gum Market All-Up

  • Europe Guar Gum Market (Option 2: As a part of the free 25% customization)

    • Europe Guar Gum Market by Function
    • Europe Guar Gum Market by Grade
    • Europe Guar Gum Market by Application
    • United Kingdom (UK) Guar Gum Market All-Up
    • Germany All-Up Guar Gum Market All-Up
    • France Guar Gum Market All-Up
    • Spain Guar Gum Market All-Up
    • Rest of Europe Guar Gum Market All-Up

  • Asia-Pacific Guar Gum Market (Option 3: As a part of the free 25% customization)

    • Asia-Pacific Guar Gum Market by Function
    • Asia-Pacific Guar Gum Market by Grade
    • Asia-Pacific Guar Gum Market by Application
    • China Guar Gum Market All-Up
    • India Guar Gum Market All-Up
    • Japan Guar Gum Market All-Up
    • Rest of APAC Guar Gum Market All-Up

  • RoW Guar Gum Market (Option 4: As a part of the free 25% customization)

    • RoW Guar Gum Market by Function
    • RoW Guar Gum Market by Grade
    • RoW Guar Gum Market by Application
    • Brazil Guar Gum Market All-Up
    • South Africa Guar Gum Market All-Up
    • Saudi Arabia Guar Gum Market All-Up
    • UAE Guar Gum Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Guar Gum Market All-Up

Major Players Operating the Guar Gum (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Cargill, Incorporated
  • E.I. Dupont De Nemours and Company
  • Shree Ram Industries
  • Ingredion Incorporated
  • Ashland Inc.
  • Vikas WSP Ltd.
  • Hindustan Gums and Chemical Limited
  • Dabur India Ltd
  • India Glycols Ltd
  • Neelkanth Polymers
  • Lucid Group
  • Global Gums and Chemicals Pvt Ltd
  • Guangrao Liuhe Chemical Co., Ltd

Guar Gum Market [UP630A-00-0620]