Press release
Guar Gum Market is expected to grow at CAGR 7.4% through 2023 to 2029, reaching nearly USD 1.48 Bn.
Guar Gum Market
Report Scope:
The comprehensive research report delves into the Guar Gum Market, exploring its market dynamics, segments, applications, and regional distribution. By employing a robust research methodology, the report analyzes the drivers and restraints that shape the market landscape, providing valuable insights to stakeholders.
Research Methodology:
The analysis is rooted in a meticulous research methodology, utilizing real-world data from key players and industry leaders globally. The report takes into account the last five years' trends and adjusts for exceptional events, such as the impact of the 2020 lockdowns. This approach allows for an accurate forecast and a nuanced understanding of market evolution.
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What are Guar Gum Market Dynamics?
Drivers and Restraints:
Guar Gum's versatility extends its applications to food and beverages, pharmaceuticals, and industrial sectors, fueling its demand. Factors like high viscosity, non-toxicity, low caloric content, and fiber-rich composition drive global market growth. However, excessive consumption can pose health risks, leading to concerns. Furthermore, the report identifies the burgeoning research in pharmaceuticals and increasing oil and gas extraction needs as driving factors for market growth.
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Guar Gum Market Segmentation?
The report segments the Guar Gum Market based on Grade (Pharmaceutical, Industrial, and Food), Function (Stabilizer and Emulsifier, Thickening and Gelling Agent, Binder and Friction Reducer), and Application (Oils and Gas, Food and Beverage, Pharmaceuticals, and Cosmetics). It highlights the dominance of the Food segment and identifies the growth potential in Industrial and Pharmaceutical segments.
The market is divided into pharmaceutical, industrial, and food segments based on grade. Because guar gum has so many uses, the food category, which will account for 58.70% of the market in 2022, will have the biggest market share. During the projection period, the food segment is anticipated to develop at the highest CAGR of 7.8%. Convenience food consumption is rising as a result of individuals all over the world changing their eating and lifestyle habits as well as their disposable income. Additionally, consumers' inclination for low-calorie and low-fat foods is favouring guar gum, which is helping the market for the substance increase. Manufacturers are concentrating on introducing cutting-edge technology for the product in order to meet the segment's expanding demand, which is driving the segment's rapid expansion.
Who are Guar Gum Market Key Players?
1. Hindustan Gums & Chemicals Ltd
2. India Glycols Limited
3. Rama Gum Industries Ltd.
4. Dabur India Ltd.
5. TIC
6. Nutriroma
7. AEP Colloids
8. Shree India Sino
9. Cargill Incorporated
10. DuPont
11. The INGREDION
12. Ashland
13. Vikas WSP Limited
14. Neelkanth Polymers
15. Lucid Group
16. Global Gums Chemicals
17. Guangrao Liuhe Chemical Co., Ltd.
18. Jai Bharat Gum & Chemicals LTD
19. Altrafine Gums
20. Supreme Gums Pvt. Ltd.
21. Ruchi Soya Industries Limit
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Regional Insights:
The report provides regional insights, revealing North America as a key player, accounting for the largest market share (43.2%) in 2022. The region's thriving oil and gas industry and demand for processed foods contribute significantly. Meanwhile, in the Asia Pacific region, India's substantial guar production and exports bolster the market.
Key Offerings:
Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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