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.

Global Guar Gum Market Report Snapshots

License Type Top market research company in USA

File Type

$5,300

BUY NOW GET FREE SAMPLE

Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

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. '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)', '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.'

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.

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.

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.

Feedback From Our Clients

"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "

- Mr. Ali Zali, Commercial Director, ICIIC Iran.

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

Global Guar Gum Market Insights

Global Guar Gum Market Report Snapshots

Want to customize this report?

FAQs

What is the global market size of Guar Gum Market?

Who are the key vendors in the Global Guar Gum Market?

What is the key driver of Global Guar Gum Market?

What is the key market trend for Global Guar Gum Market?

Which region accounted for the largest share in Global Guar Gum Market?

Request Free Customization

Related Reports

Feedback From Our Clients

$5,300