Guar Gum Market Share, Size, Growth & Industry Forecast Report, 2020-2027
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Guar Gum Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
The boost in consumer awareness about the nutritional and health benefits has resulted in the growing interest in organic and natural products, which is a major factor driving the growth of the global guar gum market. The increasing demand for convenience food coupled with people's changing lifestyle will further propel the growth of the market. Additionally, the surging demand for guar gum in the oil & gas industry is expected to bring out many growth opportunities in the market over the coming years. The guar gum offers many health benefits, including expansion in glucose tolerance and reduction of low-density lipoprotein cholesterol.
Moreover, the augmented usage of guar gum as a natural ingredient in several industries, including pharmaceuticals, food & beverages, cosmetics, and mining & explosives, will further strengthen the market share. Accelerating product penetration in the pharmaceutical industry is anticipated to promote the global guar gum market. However, the absence of R&D activities in some countries like India and Pakistan and varying prices of guar seeds and guar gum may hamper the market growth.
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Grade Segment Drivers
On the basis of grade, the Industrial-Grade is projected to witness a faster CAGR owing to the rising application of guar gum in different industrial verticals such as water, geographical, and oil well drilling. Furthermore, industrial-grade guar gum is used in textile, mining, paper, and explosives manufacturing industries. On the other edge, the food-Grade segment is expected to lead the market over the forecast period because of the changing eating pattern of the consumer and rising demand for food-grade along with the increasing food processing industry.
Based on the region, North America is predicted to expand at a higher CAGR over the forecast period because of the surging demand for natural additives and processed food among consumers. In addition to this, the growing demand from the oil & gas industry for hydraulic fracturing will further fuel the market growth of this region. Various key players, including Cargill, Incorporated, Ingredion Incorporated, and Ashland Inc, are seizing this region's major share. On the other hand, the Asia-Pacific region is expected to dominate the global guar gum market owing to the rapid industrialization and increasing food and beverage industries in developing economies like India and China.
Guar Gum Market’s leading Manufacturers:
• Guangrao Liuhe Chemical Co., Ltd.
• India Glycols Ltd
• Vikas WSP Ltd.
• Ashland Inc.
• E.I. Dupont De Nemours and Company
• Cargill, Incorporated
• Global Gums and Chemicals Pvt Ltd
• Neelkanth Polymers
• Hindustan Gums and Chemical Limited
• Dabur India Ltd
• Ingredion Incorporated
• Shree Ram Industries
Guar Gum Market Segmentation:
Segmentation by Function:
• Friction Reducing
Segmentation by Grade:
Segmentation by Application:
• Oil & Gas
• Food & Beverages
o Bakery & Confectionery Products
o Dairy & Frozen Products
o Sauces & Dressings
• Mining & Explosives
• Paper Manufacturing
Segmentation by Region:
• North America
o United States of America
• Asia Pacific
o Rest of APAC
o United Kingdom
o Rest of Europe
o South Africa
o Saudi Arabia
o Rest of the world (remaining countries of the LAMEA region)
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GMI Research is a market research and consulting company that offers business insights and market research reports for large and small & medium enterprises. Our detailed reports help the clients to make strategic business policies and achieve sustainable growth in the particular market domain. The company's large team of seasoned analysts and industry experts with experience from different regions such as Asia-Pacific, Europe, North America, among others, provides a one-stop solution for the client. Our market research report has in-depth analysis, which includes refined forecasts, a bird's eye view of the competitive landscape, key factors influencing the market growth, and various other market insights to aid companies in making strategic decisions. Featured in the 'Top 20 Most Promising Market Research Consultants' list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping our clients to stay ahead of the curve.
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