Guar Market Size, Analysis, and Forecast Report 2018-2028
With the rapidly growing urban population, the global demand for processed food and beverages is increasing rapidly. Consumers, these days, prefer to use processed food products. In India, food processing is one of the major sectors in terms of consumption, production, growth and export. India’s food processing sector largely exports processed vegetables and fruits. As per NIAM, Guar is the second largest exported commodity by India. India is a key player in the global guar gum and guar market trade. Guar is an annual legume plant and is a source of guar meal and guar gum. Guar Gum witnesses large demand from various industries due to its wide applications.
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Growing Demands for Guar Due to its Versatile Properties
The guar market is expanding with every passing due to the growing demand from food, animal feed, pharmaceuticals, nutrition, paper, mining and oil drilling industries. Gaur beans are a good source of cattle forage while the plantings are used as green manure. Gaur, being nutritious, is also used as a vegetable. Guar Gum is produced after dehusking, milling and screening of guar seeds. Guar gum has some amazing properties. For instance, it binds with water through hydrogen bonding, suspend solids, forms strong tough films, controls the viscosity of aqueous solutions and thus, has versatile uses in different industries. With changing lifestyle, gluten intolerance in increasing in people. Guar gum is used as a gluten alternative in various food and bakery products. It is also used as a thickener, stabilizer and emulsifier in the manufacturing of many food products as were as for industrial applications and preparations. The Hydraulic fracturing oil and gas extraction industry is a major driver for the guar market and accounts for about 80-90% consumption of total production. Apart from this, guar gum also finds applications in the paper and textile industry. Guar gum is a novel chemical and can be used to treat pharmaceuticals disorders, such as cardiac and diabetes issues, bowel disorders, etc. Guar meal is obtained after processing of seeds into guar gum and is high in protein and fiber content. Guar meal is used as a popular cattle feed. Thus, with increasing number of applications in various sectors, the global guar market is expected to increase in terms of value and volume.
Global Guar Gum and Guar Market: Key Players
Some of the key players in the global guar gum & guar market are Agro Gums, Hindustan Gums Chemicals Ltd., Vasundhara Industries, Cargill Inc., Shree Ram Industries, India Glycols Ltd., Vikas WSP Ltd., Supreme Gums Pvt. Ltd., Jai Bharat Gum and Chemical Ltd., Ashland Inc. More companies are taking interest in investing in Guar Gum and Guar Market in the coming years.
Opportunities for Market Participants
There are a large number of opportunities in the Guar market for manufacturers and producers due its versatile application. Guar is used in the pharmaceutical industry as an anti-diabetic, laxative and anti-microbial agent. Replacing synthetic additives with guar gum during the manufacturing of beverages, mayo, ketchup, etc., will create opportunities for the Guar market. India, the US and Pakistan are currently the only major producers of Guar. Cultivation of Guar in regions like Africa and China can open new opportunities. With growing demand and wide scope of application, Guar Gum and Guar Market is expected to expand positively during the forecast period.
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Global Guar Market: A Regional Outlook
North America is currently the largest consumer of guar gum and guar and is expected to remain so during the forecast period. The thriving oil and gas industry in the US and Canada as well as the growing demand for processed food are the major factors responsible for increase in demand in the Guar Market in the North America region. India and Pakistan, being the major producers of Guar, in Asia Pacific region are expected to dominate the Guar market during the forecast period. Europe and Latin America will witness good opportunities in the guar market with the rising demand from food, feed and healthcare industries. Bound to all these factors, the growth of the guar market is expected to stay positive during the forecast period.
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