Guar Gum Market is Expected to Undergo a Substantial CAGR Through 2025
Increasing demand for convenience
food and thriving pharmaceutical industry are acting as key growth factors for global
guar gum market.
According
to TechSci Research report, “Global Guar
Gum Market By Function (Stabilizer & Emulsifier, Thickening &
Gelling Agent, Binder, Friction Reducer, Others), By Application (Food &
Beverages, Mining & Explosives, Oil & Gas, Paper Manufacturing, Pharmaceuticals
& Cosmetics, Others), By Grade (Food-Grade, Pharmaceutical-Grade,
Industrial-Grade), By Region, Forecast & Opportunities, 2025”, the market
is anticipated to undergo a significant growth during the forecast period owing
to growing demand from various end use
industries such as food, oil & gas, and pharmaceuticals. The multi-functional
properties of guar gum are propelling food manufacturers to use them in various
food applications. Moreover, rising awareness among consumers pertaining to
health & nutrition coupled with increasing demand for organic and natural
food products are also acting as major growth driver for global guar gum
market. Apart from this, the growing consumption of convenience food due to
changing lifestyle pattern is another factor supporting the growth of this
market. Guar gum acts as essential food additives in convenience food items
like soups, bread, gravies, cakes and pastries.
Additionally, increasing need for dairy and frozen
food is leading to wide usage of guar gums as they provide extended and stable
shelf-life. Also, thriving pharmaceutical industry is also providing lucrative
growth opportunity for global guar gum market. Furthermore, the properties of
guar gum such as fracturing, waterproofing, binding and gelling make them an
ideal additive for different industries such as mining, explosives, as oil
& gas and textiles. However, the development of guar gum substitutes is
acting as major challenge before manufacturers.
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Global
guar gum market is segmented based on function, application, grade and region. Based
on application, the market can be categorized into food & beverages, mining
& explosives, oil & gas, paper manufacturing, pharmaceuticals &
cosmetics and others. Among them, the food & beverage segment is likely to
undergo significant growth during the forecast period on account of growing
utilization of guar gums in convenience and bakery products.
Based
on grade, global guar gum market can be segmented into food-grade,
pharmaceutical-grade and industrial-grade. Among them, the industrial grade
guar gum acquired the largest market share in 2019 owing to increasing
consumption of guar gum in oil & gas industry. The segment is further
expected to undergo high growth during the forecast period as guar gums are
witnessing growing demand from textile, paper and printing industries.
Major players operating in the global guar
gum market are Vikas WSP Ltd., Abdullahbhai Abdul Kader Group, Cargill Incorporated,
Shree Ram Industries, Rama Gum Industries (India) Pvt. Ltd., DuPont Nutrition
& Health, Agro Gums, Lotus Gums & Chemicals, India Gycols Ltd., Amba
Gums & Feeds Products, Vasundhara Gums & Chemicals, Hindustan Gums
& Chemicals Ltd., The Lucid Group and Ingredion Incorporated. Leading
companies are expanding their production facilities in order to increase their
business and strengthen their position in global guar gum market.
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“India
is the largest producer of guar gum and accounts for nearly 80 per cent of
total global production. The government is also brining initiatives to
encourage exports which provides for huge growth opportunities for guar gum manufacturers.
However, the dependency of crops on necessary rainfall creates the issue of
uncertainty of raw material supply. This leads to product price fluctuations,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“Global Guar Gum Market By Function (Stabilizer &
Emulsifier, Thickening & Gelling Agent, Binder, Friction Reducer, Others),
By Application (Food & Beverages, Mining & Explosives, Oil & Gas,
Paper Manufacturing, Pharmaceuticals & Cosmetics, Others), By Grade
(Food-Grade, Pharmaceutical-Grade, Industrial-Grade), By Region, Forecast &
Opportunities, 2025” has
evaluated the future growth potential of guar gum market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global guar gum market.
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