Major guar gum market participants include Hindustan Gum & Chemicals Ltd, Dabur, Vikas WSP Ltd, Ingredion Incorporated, Cargill Inc., Jai Bharat Gum & Chemicals Ltd., Supreme Gums Pvt. Ltd, India Glycols Ltd., Nutriroma, Lucid Group and AEP Colloids Inc.
Selbyville, Del., May 30, 2023 (GLOBE NEWSWIRE) —
Guar gum market valuation is expected to exceed USD 2.14 billion by 2032, as reported in a research study conducted by Global Market Insights Inc..
Guar gum is a natural polysaccharide derived from the guar plant, and is widely used in various industries for its thickening, stabilizing, and binding properties. The market has experienced significant growth in recent years, driven by its wide applications in the food and beverage, pharmaceutical, cosmetics, and oil and gas industries. The increasing demand for natural and plant-based ingredients in various sectors, together with the versatile functional properties of guar gum, is driving the expansion of the market.
The food and beverage industry is the largest consumer of guar gum, using it as a thickener, stabilizer, and emulsifier in a wide range of products, including bakery products, dairy products, sauces and dressings, and beverages. The growing demand for convenience foods and the trend towards clean label ingredients are driving the growth of guar gum in this sector.
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Guar gum also finds wide applications in the pharmaceutical and cosmetic industries due to its binding, film-forming, and moisture-retaining properties. It is used in tablets, creams, lotions, and various personal care products. The expanding pharmaceutical and cosmetic markets, along with the growing preference for natural ingredients, are driving market demand for guar gum in these sectors.
The industrial grade guar gum market is set to experience significant growth by 2023. Industrial grade guar gum, derived from the guar plant, is known for its exceptional thickening, binding, and stabilizing properties. It finds wide applications in industries such as textiles, paper, mining, explosives, and drilling fluids. In the textile sector, guar gum is used as a sizing agent to improve the strength and quality of fabrics. In the paper sector, it acts as a binder and improves the strength and printability of the paper. The mining, explosives and drilling fluids sectors use guar gum for its excellent viscosifying and suspending properties.
The guar gum market in oil and gas application is projected to see lucrative growth by 2032. Guar gum, with its high viscosity and water retention properties, is widely used as a thickening agent in fracking fluids. Improves fluid viscosity, allowing efficient proppant transport and better well stimulation. Guar gum helps create a stable and cohesive fracking fluid, allowing for effective fracking operations. The expanding oil and gas industry, particularly in regions such as North America and the Middle East, is driving the demand for guar gum in this application.
The North American guar gum market is experiencing robust growth and is a key player in the global industry. With a strong presence in the United States and Canada, the region’s demand for guar gum is driven by its wide applications in various industries. The food and beverage sector is a major consumer, using guar gum as a thickening and stabilizing agent. Additionally, the oil and gas industry relies on guar gum for hydraulic fracturing operations. The North American guar gum market benefits from the region’s well-established infrastructure, technological advances, and growing consumer awareness of natural and functional ingredients.
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Notable players operating in the guar gum industry are Hindustan Gum & Chemicals Ltd, Dabur, Vikas WSP Ltd, Ingredion Incorporated, Cargill Inc., Jai Bharat Gum & Chemicals Ltd., Supreme Gums Pvt. Ltd, India Glycols Ltd. , Nutriroma, Lucid Group and AEP Colloids Inc.
Partial chapters of the report index (TOC):
Chapter 2 Executive Summary
2.1 360° Synopsis of Guar Gum Market, 2018 – 2032
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Product trends
2.1.4 Application trends
Chapter 3 Guar Gum Industry Insights
3.1 Industry segmentation
3.2 Industry Size and Forecast, 2018 – 2032
3.2.1 Impact of COVID-19 on the Industry Landscape
3.3 Industry Ecosystem Analysis
3.3.1 Supplier matrix
3.3.2 Analysis of the distribution channel
3.3.3 Profit margin analysis
3.4 Regulatory landscape
3.4.1 USA
3.4.2 Europe
3.4.3 Chinese
3.5 Analysis of raw materials
3.6 Price analysis
3.6.1 Regional Price Analysis, by Product
3.6.1.1 North America
3.6.1.2 Europe
3.6.1.3 Asia Pacific
3.6.1.4 Latin America
3.6.1.5 Middle East and Africa
3.7 Industry Impact Forces
3.7.1 Drivers of growth
3.7.1.1 Increase the consumption of pre-cooked and processed food products.
3.7.1.2 Greater demand for frozen potato products from hotels, restaurants and QSRs.
3.7.2 Industry hazards and challenges
3.7.2.1 Fluctuating prices of raw materials
3.7.2.2 High cost of transportation and storage of processed potato products
3.8 Analysis of growth potential, 2022
3.9 Porter’s analysis
3.10 PESTEL Analysis
3.11 COVID-19’s impact on the Guar Gum industry by Application
3.12 Russia-Ukraine War Impact on Guar Gum Market by Application
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