Global Guar gum Market size was valued at $585M by 2019, and is anticipated to grow at a CAGR of 3.8% during the forecast period 2020-2025. The Global Guar gum Market growth rate is attributed to as per the changing preferences of individuals, the growing demand for convenience food coupled with increasing demand as an ingredient from the food and beverage industry, mainly as a food additive, especially for functions such as thickener, stabilizer, and binder. Guar gum is a polysaccharide which, when dissolved in water, yields hexose sugar, mannose and galactose. It is a natural additive and the most cost-effective gelling agent that hydrates readily at relatively low concentrations in cold water to achieve uniform and high viscosity. It also functions as a stabilizers and emulsifier, improves texture, improves mouth sensation and regulates the development of crystals. In addition, it is resistant to grease, fats and solvents. In addition to this, guar gum also helps to tackle various health issues such as diabetes, heart disease, bowel movements and colon cancer. Owing to its aforementioned properties, it is widely used in numerous industries.
Hence, attributable to new innovations, the natural gum property of guar has several applications in food, pharmaceuticals, and oil industries. Thus, escalating demand and adoption of product in the pharmaceutical industry is to be one of the major factors driving the overall market growth. Aging population and increasing prevalence of non-communicable diseases and chronic disorders are anticipated to fuel the growth of the pharmaceutical industry, consequently resulting in a rise in product consumption. However, owing to the reliance of crops on adequate rainfall, the market faces challenges in terms of volatile output and supply. One of the key reasons for commodity price volatility is instability in the availability of raw materials, which can cause industries such as food processing and textiles to search for other commercially viable alternatives.
By Product Type – Segment Analysis
On the basis of grade, food-grade segment held the major share of the market in terms of revenue and is poised to grow with a CAGR of 3.5%. The reason is being attributed to a fast-paced way of life and changing eating patterns. Moreover, rising product demand as a natural thickener for functional foods is poised to have a positive effect on the market. Apart from this, the shale gas revolution in North America, have led to an increase in demand for industrial-grade Guar gum. As industrial grade guar gum is used in large amounts for shale oil and gas production in the hydraulic fracking process, demand is anticipated to grow in line with the U.S. shale oil and gas industry. A wide variety of applications are found, such as thickener, sizing agent, wet-end strength additive, water barrier, and gelling agent, wastewater treatment flocculating agent, emulsifier, and binding agent. To preserve the viscosity of mud and extract drill waste, it is used in oil well fracturing and stimulation and mud drilling processes in oilfields.
However, in the near future rapidly developing pharmaceutical industry in Asia is poised to fuel demand for pharmaceutical grade guar gum. The implementation of universal healthcare is to push the pharmaceutical industry, along with the growth of Asian-based drug formulators and their efforts to provide innovative solutions. This, in turn, is projected to drive demand for pharmaceutical grade guar gum over the forecast period 2020-2025.
Request for Sample of the Report @ https://www.industryarc.com/pdfdownload.php?id=507352
Report Price: $ 5900 (Single User License)
By Geography – Segment Analysis
North America dominated the Global Guar gum Market with a share of 38% in 2019. The application of Global Guar gum has grown rapidly over the last few years owing to important development in the acceptance in the oil and gas industry of hydraulic fracturing and oil well drilling. Owing to the availability of large, technically recoverable oil and gas resources are the major contributing factors to its large share. One of the key factors for market growth in the region is the increase in the number of oil rigs in the U.S. This has contributed to higher demand for goods, thereby pushing its costs. In addition, efforts to boost exploration activities by the U.S. government are anticipated to have a positive impact on business development. Also, a major user of guar gum in Europe is the food processing sector. It is anticipated that awareness of the weight loss benefits of the product will boost its demand. Exploration drilling in Europe is poised to bounce back, resulting in an increase in product consumption, despite disappointing exploration outcomes and a lack of investment in the oil and gas sector.
Asia Pacific is set to grow at the fastest rate during the forecast period 2020-2025 owing to the growing population, rising disposable income, and rapid urbanization have spurred the consumption of processed food. Guar gum production is concentrated in South Asian countries as they have the best climatic conditions for guar cultivation, especially India and Pakistan. Presently, India exports guar gum to more than 90 countries, US, China and Germany being its largest importers. Other major importers of guar gum are Italy, South Africa, Russia, Australia, Netherlands, Japan, Brazil, Belgium, and Canada.
Drivers – Global Guar gum Market
Growing Application Owing to Multifunctional Properties of Guar Gum
With increasing knowledge of nutrition and health among consumers has led to an urge to use natural and organic goods. Guar gum is a natural ingredient derived from guar beans and provides numerous health benefits, such as raising glucose tolerance, lowering cholesterol and triglycerides of serum low-density lipoprotein (LDL). Food producers use guar gum in various food products as a stabiliser, emulsifier, thickener, binding agent, and coating agent for these properties. In addition, guar gum’s other properties are fracturing, waterproofing, binding, and gelling, making it suitable for various industries such as mining, oil & gas, textiles, pharmaceuticals, explosives, and water treatment. Hence, multi-functional properties of guar gum have increased its use in various applications, thereby providing a lucrative support to the Global Guar gum market globally.
Talk to one of our sales representative about the full report by providing your details in the link below:
Challenges – Global Guar gum Market
Rising demand of Guar Gum Substitutes
In various applications, such as food & beverages, oil & gas, mining, and others, guar gum is used. Simple substitute availability and Guar price instability, however, are some of the factors leading to the production of cheaper alternatives in different sectors of the industry. For instance, in bakery items such as cookies, muffins, cakes, and bagels, a blend of starch and psyllium is used as a replacement for guar gum. Similarly, in various industries, several big Guar gum replacements such as xanthan gum, locust bean gum, cellulose-based gum, carrageenan, pectin, and synthetic polymers are used. Thus, the availability of various substitutes at cheaper rate may hinder the growth of the guar gum market.
Global Guar gum Industry Outlook
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Global Guar gum Market. In 2019, Global Guar gum Market share is fragmented by the top ten players present in the market. Global Guar gum Market top 10 companies are Hindustan Gum & Chemicals Ltd., Jai Bharat Gum and Chemicals Ltd, Shree Ram Industries, Rama gum industries limited, Tiku Ram Gum & Chemicals Pvt. Ltd., Dabur India Ltd., Guangrao Liuhe Chemicals Co. Ltd., Sarda Gums and Chemicals, Global Gums & Chemicals Pvt. Ltd., Ingredion Incorporated, Supreme Gums Pvt. Ltd., and others.
In January 2017, ingredion Incorporated completed its acquisition with TIC Gum, as the later provides an advanced texturing system for food and beverage industry, including a wide range of products thereby, enhancing its product portfolio.
North America dominated the Global Guar gum Market with a share of 38% in the year 2019.
The factors such as growing demand for fast hydrated guar gum in the oil and gas industry and awareness about convenience food and the use of natural ingredients in food and beverage are amongst the major factor projected to impel growth of Global Guar gum Market.
Widespread applications in various industries such as paper, food & beverage, oil & gas industry, pharmaceutical, mining, and textile are the key factors owing to the growth in the segment during forecast period 2020-2025.
Related Reports :
A. Food and Beverage Additives Market
B. Food Additives Testing Market
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to email@example.com to discuss more about our consulting services.