USD 1.14 billion
Global Guar Gum Market Size, Share, Growth Analysis, By Function(Thickening, stabilizing and binding), By Application(Food and beverage, pharmaceutical and oil and gas) - Industry Forecast 2024-2031
Report ID:
SQMIG30H2081 |
Region:
Global |
Published Date: February, 2024
Pages:
257
|
Tables:
61 |
Figures:
77
Global Guar Gum Market Insights
Guar Gum Market size was valued at USD 1.14 billion in 2021 and is poised to grow from USD 1.23 billion in 2022 to USD 2.24 billion by 2030, growing at a CAGR of 7.8% in the forecast period (2023-2030).
The global demand for natural and organic ingredients is driving the growth of the guar gum market. Guar gum is a natural and plant-based ingredient that is increasingly being used as a substitute for synthetic ingredients in various industries. The food industry is the largest consumer of guar gum, accounting for over 70% of the global demand. The increasing demand for processed and convenience food products is driving the demand for guar gum in the food industry. The oil and gas industry is a significant consumer of guar gum, particularly in the hydraulic fracturing process. The increasing demand for oil and gas is driving the demand for guar gum in the oil and gas industry.
Guar gum is known to have several health benefits such as improving digestive health, reducing cholesterol levels, and controlling blood sugar levels. The growing awareness about these health benefits is driving the demand for guar gum in the food and pharmaceutical industries. The global guar gum market is highly consolidated, with a few large players dominating the market. This consolidation is primarily due to the high capital requirements and the technical expertise required for guar gum production. The prices of guar gum are subject to fluctuations due to various factors such as weather conditions, production volumes, and demand from various industries. The fluctuating prices pose a challenge for the players in the market, particularly for small and medium-sized players.
US Guar Gum Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Thickening
Fastest Growth
Thickening
Growth Rate
7.8% CAGR
Global Guar Gum Market 2022-2030 ($ Bn)
Country Share for Asia Pacific Region- 2022 (%)
Global Guar Gum Market Size By Function 2022-2030 ($ Bn)
Global Guar Gum Market Size By Function 2022-2030 (%)
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Global Guar Gum Market Segmental Analysis
Global Guar Gum Market is segmented on the basis of function, application and region. By function, the market is segmented into thickening, stabilizing and binding. By application, market is segmented into food and beverage, pharmaceutical and oil and gas. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Guar Gum Market Analysis by Function
The largest segment of the global guar gum market by function is thickening. Guar gum is primarily used as a thickening agent in various industries such as food, pharmaceuticals, and cosmetics. In the food industry, it is used to thicken and stabilize food products such as sauces, dressings, and dairy products. It is also used in the pharmaceutical industry to thicken liquid formulations, and in the cosmetic industry, it is used to thicken lotions and creams.
The fastest-growing segment of the global guar gum market by function is stabilizing. Guar gum is used as a stabilizer in various food products such as dairy products and sauces. It prevents the separation of ingredients and maintains the texture and consistency of the product. The demand for guar gum as a stabilizer is expected to grow in the future, driven by the increasing demand for processed and packaged food products.
Guar Gum Market Analysis by Application
The largest segment of the global guar gum market by application is the Food and Beverage segment. It accounts for over 70% of the global demand for guar gum. Guar gum is used as a thickener, stabilizer, and emulsifier in various food products such as baked goods, dairy products, sauces, and dressings. The demand for guar gum in the food and beverage industry is driven by the increasing demand for processed and packaged food products.
The fastest-growing segment of the global guar gum market by application is the Oil and Gas segment. Guar gum is used as a fracturing fluid in the hydraulic fracturing process to increase the production of oil and gas from shale formations. The demand for guar gum in the oil and gas industry is expected to grow in the future, driven by the increasing production of shale gas and oil, especially in regions such as North America and Asia-Pacific.
Global Guar Gum Market Size By Function 2022(%), 2023 (%)
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Global Guar Gum Market Regional Insights
The Asia-Pacific region dominates the global guar gum market, primarily due to India's leading position in the production and export of guar gum. India is the largest producer and exporter of guar gum in the world, accounting for over 80% of global production. The demand for guar gum in the Asia-Pacific region is driven by the growing demand for guar gum in various industries such as food, oil and gas, pharmaceuticals, and textiles. In the food industry, guar gum is used as a thickener, stabilizer, and emulsifier in various food products such as baked goods, dairy products, sauces, and dressings. The increasing demand for processed and convenience food products in countries such as India, China, and Japan is driving the demand for guar gum in the food industry in the region. In the oil and gas industry, guar gum is used as a fracturing fluid in the hydraulic fracturing process. The increasing demand for oil and gas in the region is driving the demand for guar gum in the oil and gas industry. The demand for guar gum in the oil and gas industry is expected to increase in the coming years due to the growing shale gas and tight oil production in countries such as China and Australia. In the pharmaceutical industry, guar gum is used as a binder, disintegrates, and controlled release agent in various pharmaceutical formulations. The increasing demand for pharmaceutical products in the Asia-Pacific region is driving the demand for guar gum in the pharmaceutical industry.
The North America market is expected to grow at the fastest CAGR, with the United States being the largest consumer of guar gum in the region. The demand for guar gum in North America is primarily driven by its applications in the oil and gas industry and the food and beverage industry. In the oil and gas industry, guar gum is used as a fracturing fluid in hydraulic fracturing operations. North America is one of the largest producers of shale gas and shale oil, and the growing demand for these resources is expected to drive the demand for guar gum in the region. However, the recent decline in oil prices and the increasing popularity of alternative fracturing fluids have impacted the demand for guar gum in the industry. In the food and beverage industry, guar gum is used as a thickening, emulsifying, and stabilizing agent in various products such as sauces, dressings, and ice cream. The demand for processed and convenience foods is increasing in North America due to the busy lifestyle of consumers, which is expected to drive the demand for guar gum as a food additive.
Global Guar Gum Market Size By Geography, 2022-2030, 2024-2031
- Largest
- Fastest
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Global Guar Gum Market Dynamics
Guar Gum Market Drivers
Growing demand from the food industry
- The food industry is the largest consumer of guar gum, and its demand is increasing due to its various applications such as a thickening, emulsifying, and stabilizing agent in food products. As the demand for processed food and convenience food continues to grow globally, the demand for guar gum as a food additive is expected to increase.
Increasing demand for processed and packaged food products
- Guar gum is widely used as a thickening and stabilizing agent in the food and beverage industry, which is the largest application segment for guar gum. The demand for guar gum in the food industry is driven by the increasing demand for processed and packaged food products, especially in developing countries. Guar gum helps to improve the texture, consistency, and shelf life of food products, which is a key factor driving its demand.
Growing demand for natural ingredients
- Guar gum is a natural ingredient derived from the seeds of the guar plant, and it is widely preferred over synthetic ingredients due to its natural origin and safety profile. The growing trend of using natural and clean label ingredients in various industries, including food, pharmaceuticals, and cosmetics, is driving the demand for guar gum.
Guar Gum Market Restraints
Volatility in guar seed prices
- Guar gum is derived from the guar seed, and its price is heavily dependent on the price of the guar seed. The guar seed prices have been volatile in recent years due to several factors such as weather conditions, government policies, and supply chain disruptions. This volatility in guar seed prices has made it challenging for guar gum manufacturers to maintain stable prices, and it has also impacted their profit margins.
Availability of substitutes
- While guar gum has several unique properties that make it popular in various industries, there are several other natural and synthetic substitutes available in the market that can be used as thickening agents, emulsifiers, and stabilizers. Some of the substitutes for guar gum include xanthan gum, locust bean gum, and carrageenan. The availability of these substitutes at lower prices may limit the growth of the global guar gum market in the future.
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Global Guar Gum Market Competitive Landscape
Global guar gum market is highly competitive and fragmented, with several players operating in the market. Some of the key players in the global guar gum market are focusing on expanding their product portfolio, improving their production capacity, and entering into strategic partnerships to strengthen their market position. For instance, in February 2021, Ashland Global Holdings Inc. announced the acquisition of Pharmachem Laboratories, a leading supplier of ingredients and solutions for the health and wellness industry, to expand its product portfolio and enhance its market position. Moreover, companies are also investing in research and development activities to innovate new products and improve the quality of their existing products.
Guar Gum Market Top Player’s Company Profiles
- Kerry Group plc (Ireland)
- Bettera Brands LLC (US)
- The Clorox Company (US)
- Softigel (US)
- Nature's Way Products, LLC (US)
- Zanonvitamec (US)
- OLLY Public Benefit Corporation (US)
- Herbaland Naturals Inc. (Canada)
- Hero Nutritionals (US)
- SmartyPants Inc. (US)
- The Nature's Bounty Co. (US)
- IM Healthcare (India)
- Nutra Solutions (US)
- Makers Nutrition, LLC (US)
- Vitakem Nutraceutical Inc. (US)
- Bayer AG (Germany)
- Ernest Jackson (UK)
- Boscogen, Inc (US)
- Santa Cruz Nutritionals Inc. (US)
Guar Gum Market Recent Developments
- In February 2022, Ingredion Incorporated announced the launch of a new series of guar-based texturizers called NOVATION Endura™ 0100, designed to provide enhanced stability and texture to plant-based and meat alternative products.
- In January 2022, Cargill announced the launch of its new range of guar-based texturizers called Cremogen™, which provides superior water-binding properties, viscosity control, and emulsification for dairy and plant-based food products.
- In December 2021, Dupont Nutrition & Biosciences announced the expansion of its Danisco® range of texturizers with the addition of a new range of guar-based stabilizers, designed to improve the texture and stability of a variety of food products.
Global Guar Gum Key Market Trends
- Growing demand for organic and non-GMO guar gum: There is a growing trend of consumers preferring organic and non-GMO food products, which is driving the demand for organic and non-GMO guar gum. Many manufacturers are shifting towards organic and non-GMO guar gum to cater to changing consumer preferences. This trend is expected to continue in the future, driving the demand for organic and non-GMO guar gum.
- Increasing use in the pet food industry: Guar gum is used as a thickening and stabilizing agent in pet food products. The growing trend of pet humanization, where pet owners are treating their pets as family members, is driving the demand for high-quality and nutritious pet food products. Guar gum is used to improve the texture and palatability of pet food products, which is driving its demand in the pet food industry.
- Innovation and product development: Many manufacturers are investing in research and development to develop new and innovative products using guar gum. For instance, several manufacturers are developing low-fat and low-calorie food products using guar gum as a thickening and stabilizing agent. Similarly, there is growing research on the use of guar gum in drug delivery systems in the pharmaceutical industry. These innovations and product developments are expected to drive the demand for guar gum in various industries in the future.
Global Guar Gum Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global guar gum market analysis, the market is expected to experience steady growth in the coming years, driven by the increasing demand for guar gum in various industries such as food and beverage, pharmaceuticals, and oil and gas. In terms of region, Asia-Pacific is the largest consumer of guar gum, accounting for over 50% of the global demand. The growing population, urbanization, and increasing demand for processed and packaged food products in countries such as India and China are driving the demand for guar gum in the region. The market is expected to continue to grow as new applications and innovations in product development emerge, creating opportunities for manufacturers to expand their product portfolio and meet the changing demands of consumers.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.14 billion |
| Market size value in 2031 | USD 2.24 billion |
| Growth Rate | 7.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Guar Gum Market Recent Developments
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Guar Gum Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Guar Gum Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Guar Gum Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Guar Gum Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Guar Gum Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Guar Gum Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Guar Gum Market Report Snapshots
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