Global Guar Gum Market Outlook 2018-2023

Global Guar Gum Market is expected to grow at a significant CAGR of 5.3% by 2023, as the scope and its applications are rising enormously across the globe. Guar Gum is derived from Sanskrit word gaw-ahar, which is the food for cattle and green manure and may be eaten as a green bean. It is also termed as guaran, is a galactomannan. It is mainly grown in India and Pakistan, whereas smaller crops are grown in Africa, U.S., China, and Australia. It is important product of guar seed processing that is used as a stabilizer, emulsifier, and thicker in food, paper and construction industry, cosmetic and pharmaceuticals, mining, explosives, and oil well drilling. 

Guar Gum Market is segmented based on grade, function, application, and region. Pharmaceutical, food, industrial, and other grades could be explored in Guar Gum in the forecast. Industrial sector may account for the substantial market share of Guar Gum and estimated to grow at highest CAGR in the coming years. This may be because of high demand in oil & gas sector. Also, food grade sector is estimated to grow at fastest pace in the coming years. 

Friction reducing, thickening, binding, gelling, and other functions could be explored in Guar Gum in the forecast. Gelling agent sector may account for the significant market share of Guar Gum and is estimated to lead the overall market in the coming years.

The market may be categorized based on applications like pharmaceuticals & cosmetics, food & beverages, mining & explosives, oil & gas, paper manufacturing, and others could be explored in the forecast period. Food & beverage sector comprises of sauces & dressings, bakery and confectionery products, beverages, dairy & frozen products, and others. Oil & gas sector may account for the substantial market share of Guar Gum and is estimated to continue its dominance in the coming years, as guar gum used as an ingredient in the fracking fluid. Also, food & beverage sector is estimated to grow at fastest pace in the coming years.

Guar Gum Market is segmented geographically into Americas (North America, South America, and Latin America), Europe (Eastern Europe, Western Europe), Asia Pacific (India, China, Japan, New Zealand, and Australia), Latin America (Mexico, Argentina, and Brazil), Middle East (UAE, Saudi, and Qatar) and Africa (South Africa).

Globally, North America may account for the substantial market share of Guar Gum in terms of volume and value and is estimated to lead the overall market in the coming years. The reason behind overall market growth could be growing oil & gas industry in this region. The United States and Canada are the major consumer of Guar Gum in this region.

Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at fastest pace with the highest CAGR in the foremost period.

The key players of Guar Gum Market are Dabur India Ltd., Hindustan Gums & Chemicals Ltd., Rama Gum Industries Ltd., Vikas WSP Limited, and India Glycols Limited. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As companies all over the world have to believe that alliance with a market would permit them proportional market existence and authority to declare the leadership position.

Global guar gum market is anticipated to grow at a CAGR of 5.3% by 2023, according to a new report published by Gen Consulting Company. The report segments the market and forecasts its size, by volume and value, on the basis of application (food, petroleum, textile & paper, mining, etc.), and by geography (North America, Europe, Asia-Pacific, MEA and South America).

The report covers forecast and analysis for the guar gum market on a global and regional level. The study provides historic data of 2013-2017 along with a forecast from 2018 to 2023 based on both output/volume and revenue. The study then describes the drivers and restraints for the guar gum market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the guar gum market on a global level.

The report has been prepared based on the synthesis, analysis, and interpretation of information about the global guar gum market collected from specialized sources. The competitive landscape section of the report provides a clear insight into the market share analysis of key industry players. Company overview, financial overview, product portfolio, new project launched, recent development analysis are the parameters included in the profile.

Demand for this market rises from the food, petroleum, textile & paper, mining, and other applications. All the segments have been analyzed based on present and future trends and the market is estimated from 2018 to 2023. Relevantly, the report and company profiles specify the key drivers that are impacting the demand in global guar gum market.

Key Applications
- Food
- Petroleum
- Textile & Paper
- Mining

Key Regions
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America

Key Vendors
- Altrafine Gums
- Global Gums & Chemicals
- Guangrao Liuhe Chemical
- Hindustan Gum
- Jai Bharat Gum and Chemicals
- Jingkun Chemistry Company
- Lotus Gums & Chemicals
- Neelkanth Polymers
- Rama Industries
- Shandong Dongda Commerce
- Shree Ram Group
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Key Questions Answered in this Report
- What will the market size be in 2023?
- What are the key factors driving the global guar gum market?
- What are the challenges to market growth?
- Who are the key players in the guar gum market?
- What are the market opportunities and threats faced by the key players?