Global guar gum market was worth USD 525.3 million in 2017. It is expected to grow at 4.4% between 2018 and 2025. Industry trends will be affected by the increasing demand for convenience foods due to changing eating habits. Guar gum, an additive that extends the shelf-life of processed foods, is expected to increase market growth.
The market's growth is likely to be driven by increasing product penetration in the pharmaceutical sector. The aging population, increasing prevalence of chronic diseases and non-communicable illnesses are expected to drive the growth of the pharmaceutical sector. This will lead to a rise of product consumption.
After 2014, the U.S. market saw a sharp decline in its consumption. This was due to falling crude oil prices which temporarily halted all exploration and production activities. The market will see a rebound in product consumption over the next few years due to the increase in oil and shale gas production.
The cost of raw materials, demand and supply are the main factors that determine product price. There are many factors that influence supply and demand, including the availability of substitutes, market trends and growth in consumer industries. In a short time, future trade practices and current trading can also impact the price movement of products.
India is the world's largest producer of Guar Gum, accounting for almost 80% of total production. India's total agricultural exports are approximately one-third based on this product. The market will benefit from increasing government efforts to promote exports to increase foreign currency.
The market is still vulnerable to erratic supply and production due to crops' dependence on adequate rainfall. Product price fluctuations are caused by uncertainty in raw material supply. This may lead industries like food processing and textiles to seek out economically viable alternatives.
Food-grade Guar gum will see a rise in demand due to the growing food processing industry. This is due to changing lifestyles and fast-paced eating habits. The market is likely to see a rise in demand for the product as an ingredient in functional foods.
Due to North America's booming shale oil and gas industry, the demand for industrial-grade Guar gum has risen dramatically. Because industrial-grade guar gum is used extensively in hydraulic fracking for the extraction of shale oils and gas, the demand is expected to rise in line with U.S. shale industry.
It is used as a thickener, wet-end strength, additive, water-barrier and gelling agent. It is used to maintain the viscosity and remove drilling waste in oilfields, such as oil well stimulation and oil well fracturing.
In the near future, the demand for pharmaceutical-grade guar gum will increase due to Asia's rapidly growing pharmaceutical industry. The pharmaceutical industry is expected to grow due to the rollout of universal healthcare and the expansion of Asia's drug formulators, which are trying to offer innovative solutions. Over the forecast period, this will drive demand for pharmaceutical-grade guar gum.
Due to the North American shale gas boom, the oil and gas industry has emerged as the most important application segment. Segment growth is expected to be boosted by an increase in drilling and exploration activities for the extraction technically recoverable resources in China and India, Argentina, Algeria and Algeria.
In 2017, the food and beverage sector was the second largest application segment of guar gum. This segment saw a significant increase in product demand due to an unusually high price rise and unstable supply. Guar gum will be in high demand due to the rising popularity of organic foods. Segment growth will also be driven by rising consumption of processed foods.
Guar gum and its derivatives can be used for a variety of purposes in pharmaceutical medicine. Because of its adhesive properties, the product is used in a variety of pharmaceutical applications. Because of its hair and skin rejuvenation properties, it is used in many cosmetic and personal care products, such as creams, lotions, and shampoos.
It is also used in many other industries, including pulp and paper, tobacco, textile, mining, construction material, and materials. In recent years, the compound has been used as a primary gelling agent for slurry explosives. Because of its water-proofing and thickening properties, it is used in explosive product manufacturing.
Guar gum is used to stabilize Ice creams. This helps increase viscosity and shelf-life by controlling ice crystallization. It is used in many pharmaceutical applications, including creams, balms and ointments. It can also be used in personal care products to mix essential oils with water.
Guar gum is used to thicken and gel various foods, such as desserts and candies, in order to improve the product texture. A large number of petrochemical firms have also used Guar gum due to its thickening capabilities. Guar gum is used to increase water viscosity, which is useful in extracting oil and natural gas from shale rocks.
Because of its clear gel formulation, water-soluble qualities and binder properties, it is often used in toothpaste. It is also used to enhance the product's appearance, stability, and rheology. It can also be used to bind fragmented tobacco fines in order to make reconstituted tobacco sheets.
Guar gum is used in the pulp and paper industry as a wet end strength additive to improve paper's physical properties. Guar gum is used in the mining industry as a settling agent to accelerate the settling of suspended particles. It can also be used to suppress appetite and aid in weight loss.
North America was the biggest market in volume, accounting for nearly 44.0% of all North American shipments in 2017. Due to the significant growth in hydraulic fracking, oil well drilling, and other oil and gas industries, the U.S. is the most important market for guar. The availability of vast technically recoverable oil resources is expected to keep this trend going over the forecast period. The U.S.'s rise in oil rig counts is one of the main factors driving market growth. This has led to increased product demand and a rise in oil prices. Market growth will also be positively affected by U.S. government efforts to increase exploration activities.
Europe's largest consumer of guar gum is the food processing industry. The product's weight loss benefits are expected to increase demand. Despite disappointing results in exploration and a lack of investment in the oil-and-gas sector, European exploration drilling is expected to rebound in 2018, leading to a rise in product demand.
Consumption of processed foods has increased due to rising population, rising disposable income and rapid urbanization in Asia Pacific. This is driving product demand in the region. Due to the rapid growth of oil and gas exploration activities, and the availability of large technically recoverable resources, India and China are expected to be major buyers.
The market's major players have a strong global presence, with many operations and a wide product range. They have a well-organized raw material supply, a strong distribution network and a superior sales network. They are often challenged by smaller players who offer better quality products at a higher price to draw a wider customer base.
Many small-scale businesses have their headquarters in one place and cater to local customers. These companies are less well-known globally, but have greater knowledge of local markets. They are however more susceptible to substitutes in the consumer industries.
This report predicts revenue growth at the global, regional and country level and offers an analysis of industry trends for each sub-segment from 2014 to 2025. Grand View Research has divided the global guar gum market report by grade, function, applicability, and region.
Grade Outlook (Volume and Tons; Revenue USD Million, 2014-2025)
Food Grade
Industrial Grade
Pharmaceutical Grade
Function Outlook (Volume and Tons; Revenue USD Million, 2014-2025)
Stabilizer & Emulsifier
Thickening & Gelling Agent
Binder
Friction Reducer
Other
Application Outlook (Volume and Tons; Revenue USD Million, 2014-2025)
Oil & Gas
Food & Beverage
Pharmaceuticals & Cosmetics
Other
Regional Outlook (Volume and Tons; Revenue USD Million, 2014-2025)
North America
The U.S.
Canada
Mexico
Europe
Germany
The U.K.
Netherlands
Italy
Russia
Asia Pacific
China
India
Japan
Australia
Thailand
Indonesia
Republic of Korea
Malaysia
Central & South America
Brazil
Argentina
Chile
Middle East & Africa
Saudi Arabia
United Arab Emirates
South Africa
b. Global guar gum market was valued at USD 604.6 Million in 2019, and is forecast to grow to USD 629.9 Million in 2020.
How is the growth of the guar gum industry?b. Global guar gum markets are expected to expand at a compound annual rate of 4.4% between 2019 and 2025, reaching USD 785.2 millions by 2025.
Which segment had the largest share of guar gum markets?b. North America was the dominant market for guar gum in 2019, with a 44.8% share. This can be attributed to the substantial increase in hydraulic fracking adoption and oil well drilling within the oil and gas sector.
What are the major players in Guar Gum Market?b. b. Ltd., and Neelkants polymers.
What are the driving factors for the Guar Gum Market?b. The market is growing due to increasing demand for natural thickener and sizing agents, wet-end strength additives, water-barrier, gelling agent and flocculating agent (for wastewater treatment), emulsifier and binding agent.
Up Market Research published a new report titled “Guar Gum Market research report which is segmented by Grade (Pharmaceutical, Food, Industrial), by Application (Oil & Gas, Food & Beverage), By Players/Companies Supreme Gum Pvt Ltd, India Glycols, Hindustan Gum & Chemicals, Lucid Group, Neelkants Polymers, Altrafine Gums, Shree Ram Industries, Ltd, Jai Bharat Gum & Chemicals, Ltd, Vikas WSP”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Guar Gum Market Research Report |
By Grade | Pharmaceutical, Food, Industrial |
By Application | Oil & Gas, Food & Beverage |
By Companies | Supreme Gum Pvt Ltd, India Glycols, Hindustan Gum & Chemicals, Lucid Group, Neelkants Polymers, Altrafine Gums, Shree Ram Industries, Ltd, Jai Bharat Gum & Chemicals, Ltd, Vikas WSP |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 216 |
Number of Tables & Figures | 152 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Grade (Pharmaceutical, Food, Industrial), by Application (Oil & Gas, Food & Beverage).
Guar Gum Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Guar Gum Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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