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Guar Complex Market Worth US$ 1.7 Bn by 2026: TMR
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In addition, guar complex products are being widely included in clinical trials for promoting weight loss. Regardless, the demand for guar complex products continues to plummet pertaining to their role in causing gastrointestinal obstruction and deficiency of metformin serum concentrations in blood. According to Transparency Market Research, the global guar complex market will witness a sluggish expansion at 2.6% CAGR, exceeding US$ 1.7 Bn value by the end of the forecast period, 2017-2026. A majority of guar complex producers across the globe are expected to focus on food & beverage and pharmaceutical applications of guar complex products. Companies namely, Jai Bharat Gum, Vikas WSP, Hindustan Gums, Shree Ram Gum, Cargill Inc., Lucid Group, Ashland Inc., Supreme Gums Pvt. Ltd., India Glycols Ltd., Rama industries, and Lamberti will be actively instrumenting the global guar complex production through 2026.
APEJ to Represent Largest Market for Guar Complex
Considering the dense presence of global guar complex market players in India, the Asia-Pacific excluding Japan (APEJ) region will remain dominant in the global expansion through 2026. While India will be viewed as the largest producer of guar complex, the APEJ guar complex market will be characterized by high production, brimming exports and a moderate domestic demand. By the end of 2026, the APEJ guar complex market is expected to be worth US$ 1 Bn, according to the report findings. North America and Europe are also expected to be among the leading consumer marketplaces for guar complex products over the forecast period.
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Pharmaceutical End-use of Guar Complex Products to Register High CAGR
The report also reveals that the end-use of guar complex products will be the highest in fracking industries across the globe. However, the pharmaceutical industries will register fastest end-use of guar complex products, reflecting the highest revenue growth at 5.3% CAGR over the forecast period. The demand for guar complex in food & beverage industries will be relatively sluggish towards the end of the forecast period.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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Guar Gum is a type of products that derived from guar splits that obtained from guar seed.
Guar is a leguminous plant that grows to a height of three to six feet. It bears many beanlike pods, each of which contains six to nine small, rounded seeds.
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