Guar Gum Market is Expected to Undergo a Substantial CAGR Through 2025by Mack Nene SEO | Digital Marketing
Increasing demand for convenience food and thriving pharmaceutical industry are acting as key growth factors for global guar gum market.
According to TechSci Research report, “Global Guar Gum Market By Function (Stabilizer & Emulsifier, Thickening & Gelling Agent, Binder, Friction Reducer, Others), By Application (Food & Beverages, Mining & Explosives, Oil & Gas, Paper Manufacturing, Pharmaceuticals & Cosmetics, Others), By Grade (Food-Grade, Pharmaceutical-Grade, Industrial-Grade), By Region, Forecast & Opportunities, 2025”, the market is anticipated to undergo a significant growth during the forecast period owing to growing demand from various end use industries such as food, oil & gas, and pharmaceuticals. The multi-functional properties of guar gum are propelling food manufacturers to use them in various food applications. Moreover, rising awareness among consumers pertaining to health & nutrition coupled with increasing demand for organic and natural food products are also acting as major growth driver for global guar gum market. Apart from this, the growing consumption of convenience food due to changing lifestyle pattern is another factor supporting the growth of this market. Guar gum acts as essential food additives in convenience food items like soups, bread, gravies, cakes and pastries.
Additionally, increasing need for dairy and frozen food is leading to wide usage of guar gums as they provide extended and stable shelf-life. Also, thriving pharmaceutical industry is also providing lucrative growth opportunity for global guar gum market. Furthermore, the properties of guar gum such as fracturing, waterproofing, binding and gelling make them an ideal additive for different industries such as mining, explosives, as oil & gas and textiles. However, the development of guar gum substitutes is acting as major challenge before manufacturers.
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Global guar gum market is segmented based on function, application, grade and region. Based on application, the market can be categorized into food & beverages, mining & explosives, oil & gas, paper manufacturing, pharmaceuticals & cosmetics and others. Among them, the food & beverage segment is likely to undergo significant growth during the forecast period on account of growing utilization of guar gums in convenience and bakery products.
Based on grade, global guar gum market can be segmented into food-grade, pharmaceutical-grade and industrial-grade. Among them, the industrial grade guar gum acquired the largest market share in 2019 owing to increasing consumption of guar gum in oil & gas industry. The segment is further expected to undergo high growth during the forecast period as guar gums are witnessing growing demand from textile, paper and printing industries.
Major players operating in the global guar gum market are Vikas WSP Ltd., Abdullahbhai Abdul Kader Group, Cargill Incorporated, Shree Ram Industries, Rama Gum Industries (India) Pvt. Ltd., DuPont Nutrition & Health, Agro Gums, Lotus Gums & Chemicals, India Gycols Ltd., Amba Gums & Feeds Products, Vasundhara Gums & Chemicals, Hindustan Gums & Chemicals Ltd., The Lucid Group and Ingredion Incorporated. Leading companies are expanding their production facilities in order to increase their business and strengthen their position in global guar gum market.
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“India is the largest producer of guar gum and accounts for nearly 80 per cent of total global production. The government is also brining initiatives to encourage exports which provides for huge growth opportunities for guar gum manufacturers. However, the dependency of crops on necessary rainfall creates the issue of uncertainty of raw material supply. This leads to product price fluctuations,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Guar Gum Market By Function (Stabilizer & Emulsifier, Thickening & Gelling Agent, Binder, Friction Reducer, Others), By Application (Food & Beverages, Mining & Explosives, Oil & Gas, Paper Manufacturing, Pharmaceuticals & Cosmetics, Others), By Grade (Food-Grade, Pharmaceutical-Grade, Industrial-Grade), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of guar gum market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global guar gum market.
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Created on Jul 13th 2021 05:03. Viewed 35 times.