Guar gum is widely used in the food and beverage industry as a thickening, stabilizing, and emulsifying agent. It finds applications in products such as bakery goods, dairy products, sauces, dressings, and beverages. The increasing demand for convenience foods, processed foods, and gluten-free products has further contributed to the growth of the guar gum market.
In addition to food, guar gum is frequently utilised in industries like oil & gas, cosmetics, and medicines. It serves as a binder, disintegrant, and controlled-release ingredient in pharmaceutical tablets and capsules. Guar gum is a thickening, emulsifier, and stabilising agent used in creams, lotions, and personal care products in the cosmetic industry.
The guar gum market is expanding swiftly due to its extensive use in the food, pharmaceutical, cosmetic, and oil & gas industries. Guar gum demand is anticipated to grow as industries continue to look for natural and useful components, boosting industrial potential and innovation.
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According to a recent study by Future Market Insights (FMI), the worldwide guar gum market would probably generate more than US$ 1.3 billion in sales by the end of 2026. According to the analysis, the market will expand at a CAGR of 2.8% from 2017 to 2026, with consistent demand from end users in Asia Pacific except Japan (APEJ) likely to present chances for market expansion. During the evaluation period, applications in the food and beverage industry are projected to sustain consistent demand.
Food grade, rapid hydrated gum oil drilling grade, and industrial grade are the three major product type sectors. The market has been divided into many end-use industries, including the food and beverage, fracking, textile, pharmaceutical, and other end-use industries. The fundamental functions of thickening and stabiliser, binding agent, and other functional qualities make up the essential segments.
Among the product types, the fast-hydrated gum oil drilling grade segment will continue to remain attractive during the assessment period. This segment currently accounts for nearly 70% revenue share of the market and is likely to remain lucrative throughout the forecast period. The fast hydrated gum oil drilling grade is likely to surpass US$ 800 Mn in revenues by the end of the forecast period.
Demand for guar gum is likely to remain robust in the fracking segment. Currently, fracking accounts for over two-thirds revenue share of the market, and it is highly likely that the dominance of this segment will continue beyond 2017. This segment is projected to grow at a CAGR of 2.4% to reach a valuation of over US$ 800 Mn by the end of the forecast period.
The use of guar gum has been witnessing an increase owing to its growing application in the oil & gas industry. However, as the oil and gas industry is going through a sluggish phase, the demand for guar gum has declined to an extent. Some of the sluggishness on account of oil & gas is likely to be compensated by growing demand in the food and beverage industry. Guar gums find wide-ranging applications in the food & beverage industry, where it is used as a thickener and stabilizer.
Steady demand from the food and beverage industry is likely to provide an impetus to the growth of the guar gum market during the assessment period. Growth is likely to remain steady from the textile and paper sector, however, availability of other feasible alternatives can stymie demand to an extent.
Although still at a nascent stage, demand for guar gum in managing health disorders such as diabetes and cardiac elements presents an opportunity for manufacturers. Further advancement in the application of guar gum in the healthcare sector can open up new avenues of growth for guar gum manufacturers during the assessment period. Some of the leading players in the market include Lucid Group, Jai Bharat Gum, Hindustan Gums, Vikas WSP, Shree Ram Gum, Cargill Inc, Supreme Gums Pvt. Ltd, Ashland Inc., India Glycols Ltd, Rama industries and Lamberti.
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Region
- North America
- Latin America
- Europe
- Japan
- APEJ
- MEA
Product Type
- Food Grade
- Fast Hydrated Gum Oil Drilling Grade
- Industrial Grade
End Use Industry
- Food and Beverages
- Fracking
- Textiles
- Pharmaceuticals
- Other End Use Industries
Primary Function
- Thickener and Stabilizer
- Binding Agent
- Other Functional Properties
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