Press release
Guar Gum Market 2020 Global Industry Size, Share, Regional Trends, Development Strategy Competitor Analysis, Complete Study of Current Trends and Forecast 2023
Guar Gum Market
Guar Gum is a natural galactomannan polysaccharide derived from the beans of guar. The Global Guar Gum Market is growing at a significant pace due to its multifunctional properties. Guar gum is used as a thickening agent, gelling agent, binder, friction reducer, and others. Owing to these properties, guar gum is witnessing an increasing scope of applications in various industries including oil & gas, mining & explosives, pharmaceuticals, food & beverages, and personal care.
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Fluctuations in the prices of guar and its derived products is the major factor hampering the growth of guar gum market across the globe. In addition, the surging demand for guar gum substitute such as xanthan gum, in baked products, is emerging as a crucial challenge for the producers of guar gum. However, the market players active in the global guar gum market are anticipated to witness lucrative opportunities during the forecast period owing to the increasing consumption of convenience food across the globe.
Segmentation
The Global Guar Gum Market has been segmented based on type, function, application, and region.
By type, the Global Guar Gum Market has been classified as food grade, industrial grade, and others.
The Global Guar Gum Market has also been segregated, on the basis of function, into thickening, gelling, binding, and others.
By application, the Global Guar Gum Market is categorized into food & beverages, pharmaceuticals, personal care, oil & gas, and others. The food & beverages segment is further segregated into bakery & confectionary, dairy & frozen desserts, beverages, convenience food, and others.
The Global Guar Gum Market has been studied with regard to four key regions—North America, Europe, Asia-Pacific, and the rest of the world.
The North American guar gum market has further been segmented into the US, Canada, and Mexico. The European Guar Gum Market has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe. The Guar Gum Market in Asia-Pacific has been divided into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The guar gum market in the rest of the world has been segmented into South America, the Middle East, and Africa.
Key Players
Hindustan Gums & Chemicals Ltd. (India), DuPont (US), Dabur India Ltd (India), Lucid Colloids Ltd. (India), Supreme Gums Pvt. Ltd. (India), India Glycols Limited (India), Vikas WSP (India), Rama Gum Industries Limited (India), Altrafine Gums (India), Cargill, Incorporated (US), Jai Bharat Gum & Chemicals LTD (India), Global Gums & Chemicals (Pakistan), Ashland (US), Ingredion Inc. (US), and Guangrao Liuhe Chemical Co., Ltd. (China) are some of the key players in the global guar gum market.
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Regional Market Summary
North America is anticipated to dominate the guar gum market during the forecast period owing to the increasing consumption of canned food products in the region. The growing oil & gas industry is also catalysing the growth of guar gum market in North America. Europe is also expected to account for a significant market share due to the surging demand for functional foods and natural products. The market in Asia-Pacific is projected to register the highest growth rate during the forecast period due to rising demand for guar gum from the food and feed industry.
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