Selbyville, Delaware, May 30, 2023 (GLOBE NEWSWIRE) --
The guar gum market valuation is expected to cross USD 2.14 billion by 2032, as reported in a research study by Global Market Insights Inc.
Guar gum is a natural polysaccharide derived from the guar plant, and it is widely used in various industries for its thickening, stabilizing, and binding properties. The market has witnessed significant growth in recent years, driven by its extensive applications in food and beverages, pharmaceuticals, cosmetics, and oil and gas industries. The rising demand for natural and plant-based ingredients in various sectors, coupled with the versatile functional properties of guar gum, is driving market expansion.
The food and beverage industry is the largest consumer of guar gum, utilizing it as a thickener, stabilizer, and emulsifier in a wide range of products such as bakery items, dairy products, sauces and dressings, and beverages. The increasing demand for convenience foods and the trend towards clean label ingredients are bolstering the growth of guar gum in this sector.
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Guar gum finds extensive applications in the pharmaceutical and cosmetics industries as well due to its binding, film-forming, and moisture-retention properties. It is used in tablets, creams, lotions, and various personal care products. The expanding pharmaceutical and cosmetics markets, coupled with the growing preference for natural ingredients, are driving the guar gum market demand in these sectors.
The industrial-grade guar gum market will witness 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 extensive 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 enhances the paper's strength and printability. The mining, explosives, and drilling fluids sectors utilize guar gum for its excellent viscosifying and suspending properties.
The guar gum market in the oil and gas application is projected to observe lucrative growth by 2032. Guar gum, with its high viscosity and water-binding properties, is extensively used as a thickening agent in fracking fluids. It enhances the fluid's viscosity, allowing for efficient transportation of proppants and improved well stimulation. Guar gum helps create a stable and cohesive fracking fluid, enabling effective hydraulic fracturing operations. The expanding oil and gas industry, particularly in regions like North America and the Middle East, is driving the demand for guar gum in this application.
North America 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 extensive applications across various industries. The food and beverage sector is a major consumer, utilizing guar gum as a thickening and stabilizing agent. Additionally, the oil and gas industry relies on guar gum for hydraulic fracturing operations. The North America guar gum market benefits from the region's well-established infrastructure, technological advancements, and increasing consumer awareness of natural and functional ingredients.
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Prominent participants operating across 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 report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Guar Gum Market 360° synopsis, 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 COVID-19 impact on industry landscape
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.3.2 Distribution channel analysis
3.3.3 Profit margin analysis
3.4 Regulatory Landscape
3.4.1 U.S.
3.4.2 Europe
3.4.3 China
3.5 Raw material analysis
3.6 Pricing analysis
3.6.1 Regional pricing 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 & Africa
3.7 Industry impact forces
3.7.1 Growth drivers
3.7.1.1 Increasing consumption of convenience and processed food products.
3.7.1.2 Higher demand of frozen potato products from hotels, restuarants and QSRs.
3.7.2 Industry pitfalls & challenges
3.7.2.1 Fluctuating raw material prices
3.7.2.2 High transportation and storage cost of processed potato products
3.8 Growth potential analysis, 2022
3.9 Porter’s analysis
3.10 PESTEL analysis
3.11 COVID-19 impact on Guar Gum industry by application
3.12 Russia-Ukraine war impact on Guar Gum market by application
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
