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Guar Gum Market 2023 : Trends, Business Growth And Major Driving Factors | Jai Bharat Gum & Chemicals Ltd., Vikas WSP Ltd., Hindustan Gum & Chemicals Ltd., Lucid Group, Supreme Gums Pvt. Ltd
Guar Gum Market
Guar Gum Market Size, Growth Rate, And Forecast
The global guar gum market is expected to grow from $1.13 billion in 2022 to $1.21 billion in 2023 at a compound annual growth rate (CAGR) of 7.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The guar gum market is expected to reach $1.54 billion in 2027 at a CAGR of 6.2%.
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Guar Gum Market Drivers
The rising demand for convenience foods is expected to propel the guar gum market growth going forward. Convenience foods refer to processed foods that are prepared for ease of consumption and minimum preparation. Guar gum is one of the crucial food additives used to enhance the quality of convenience foods such as soups, cakes, pastries, bread, gravies, and snacks.
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Guar Gum Market Segments
1) By Type: Food Grade, Industrial Grade, Pharmaceutical Grade
2) By Function: Stabilizer, Emulsifier, Thickening, Gelling Agent, Binder, Friction Reducer
3) By End Use Industry: Food and Beverages, Fracking, Textiles, Pharmaceuticals, Other End Use Industries
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Guar Gum market.
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Guar Gum Market Key Players
Major players in the guar gum market are Jai Bharat Gum & Chemicals Ltd., Vikas WSP Ltd., Hindustan Gum & Chemicals Ltd., Lucid Group, Supreme Gums Pvt. Ltd., India Glycols Ltd., Rama Gum Industries Ltd., Nutriroma, AEP Colloids Inc., Shree India Sino Gums Pvt Ltd., Cargill Incorporated, Ashland Inc., Neelkants Polymers, Altrafine Gums, and Lamberti S.p.A.
The Business Research Company's "Global Guar Gum Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Guar Gum Market Include:
1. Executive Summary
2. Guar Gum Market Characteristics
3. Guar Gum Market Trends And Strategies
4. Guar Gum Market - Macro Economic Scenario
5. Guar Gum Market Size And Growth
……
27. Guar Gum Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Guar Gum Market
29. Guar Gum Market Future Outlook and Potential Analysis
30. Appendix
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