Market overview:
Guar gum is a plant derivative that is used as a natural thickening and stabilizing agent in food industries, the animal feed manufacturing industry, and other industrial applications. The Guar seeds are collected from Guar beans then are crushed dehisced and then undergo several other processes according to the end-user application. They are often sold in free-flowing powder form. The demand for the guar gum remains higher in potential end-user industries as they are considered as cost-effective as they are nearly eight times efficient as a thickening agent when compared to other agents like corn starch. Therefore, only a small amount of the product is required for a huge quantity of solution.
The Guar gums are used to thicken the slurry mixture that is used to carry the proppants in the oil and gas industry. The fluid is expected to change into gel form to carry out the processes. On the other hand, Guar Gum is used to produce egg-free ice cream, veganism is spreading across the globe and people prefer dairy-free food. This factor has therefore propelled the guar gum market demand across the developed countries. Therefore, increasing demand across the oil and gas industry, food and beverages, and other convenience food industries are impacting the overall growth of the Guar Gum industry across the globe.
Guar Gum Market Size is anticipated to reach USD 1.24 Billion by 2030, registering a CAGR of 7.8% during 2022-2030
Segment overview:
Based on Type:
- Food Grade
- Industrial Grade
- Others
Based on Function:
- Thickening
- Gelling
- Binding
- Others
Based on Application:
- Food Beverages
- Bakery Confectionary
- Dairy Frozen Desserts
- Beverages
- Convenience Food
- Others
Based on End-user industries:
- Pharmaceuticals
- Personal Care
- Oil Gas
- Others
Market opportunities:
The increasing utilization of Guar Gums in the oil and gas industry due to the increasing energy demand is expected to propel the overall growth of the Guar Gum industry during the forecast period. Guar gums are used in green corrosion inhibitors, drilling fluid formulations, and dispersants across the oil and gas industry. Similarly, industrial applications like hydraulic fracturing, oil recovery, and oil stimulations are some crucial processes that are carried out with the help of Guar Gums. Such factors are expected to propel the overall growth of the Guar Gum industry during the forecast period.
The increasing demand for processed and packaged food and bakeries are also creating a huge impact on the growth of the Guar gum industry. For instance, Guar Gums are utilized as a thickening agent for processing milk, yogurt, kefir, and liquid cheeses. Moreover, they are intensively utilized in improving the texture of ice creams. Ice Creams being prominent desserts across the world and intensive utilization of guar gums in their processing are expected to boost the overall growth of the Guar gums market overview during the forecast period.
Regional analysis:
Currently, North America is expected to witness higher market value in the Guar Gum industry, due to the increasing consumption of processed food. The increasing demand and growth of the oil and gas industry across the region are considered as the major growth-stimulating factor for the guar gum industry. Moreover, the region is gaining financial support for the development of oil and gas exploration activities. The development in the oil and gas industry and increasing utilization of advanced technologies are expected to boost the overall growth of the Guar gum industry across North America.
On the other hand, due to the increasing demand and growth in the food industry, the Asia-pacific region is also expected to witness decent growth in the Guar gum industry. The convenience packaging methods and convenient packaging materials which are designed especially for food are further propelling the food industry and thereby impacting the overall growth of the Guar Gum industry. Industrialization and rapid urbanization combined with experimental food habits are some of the key factors that are promoting the overall growth of the Guar gum industry.
Competitive landscape:
- Hindustan Gums Chemicals Ltd. (India)
- DuPont (US)
- Dabur India Ltd (India)
- Lucid Colloids Ltd. (India)
- Supreme Gums Pvt. Ltd. (India)
- India Glycols Limited (India)
- Vikas WSP (India)
- Rama Gum Industries Limited (India)
- Altrafine Gums (India)
- Cargill, Incorporated (US)
- Jai Bharat Gum Chemicals LTD (India)
- Global Gums Chemicals (Pakistan)
- Ashland (US)
Recent developments:
Recently, scientists and researchers have brought in the Guar gum-chitosan by carrying out the casting method to cater to the packaging demand. The fabricated biopolymer is capable of offering higher mechanical strength, excellent resistance to harsh environments, and abrasion. They can sustain over 240 hours in the water without getting dissolved. They also exhibit water repellent capacity and are therefore expected to be utilized as biodegradable packaging.
Ingredion Incorporation has joined hands with TIC gums in the year 2017, to enhance their product portfolio. The TIC gums are known for providing varied textures to guar gum products.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
Contact Us:
Market Research Future®
99 Hudson Street, 5Th Floor
New York, New York 10013
United States of America
