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Global Guar Gum Market InsightFebruary 10, 2022 Comments
The guar gum is forecast to crazy increase over the next few years. According to the WK-chem Research “Global Guar Gum Professional Survey Report 2022, Forecast to 2027”, Because of its multifunctional properties and increasing health awareness among consumers towards healthy foods. Guar gum is also increasingly used in different industries such as food, oil and gas, and pharmaceuticals. The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 7.96% base on WK-chem Research regression analysis model.
The market faces challenges with erratic production and supply as crops depend on adequate rainfall, said Amy, Senior analyst, Chemical & Material Market Research Center in WK-chem Research. Factors such as current guar price volatility and availability will cause the guar industry to face the challenge of cheaper alternatives from various industries, especially the shale gas and oil industries.
Growing awareness among consumers about health & nutrition has resulted in an increased interest in natural and organic products such as guar gum. Guar gum, as a natural ingredient, has several health benefits, such as reducing serum low-density lipoprotein (LDL) cholesterol and triglycerides and increasing glucose tolerance. This has driven food manufacturers to use natural gums in various food applications. In the food industry, guar gum is used as a thickener, stabilizer, emulsifier, binding agent, coating agent, texturing agent, and gelling agent for frozen food products, baked food products, dairy products, sauces & salad preparations, confections, beverages, and pet food. Apart from the food industry, properties of guar gum such as binding, fracturing, waterproofing, and gelling make it an ideal additive for different industries such as oil & gas, mining, explosives, textiles, pharmaceuticals, textile, and water treatment.
The global demand for convenience food is increasing with busy consumer lifestyles. The global demand for convenience food has been influenced by factors such as increased usage of household technologies, longer working hours, and rising consumer incomes. Guar gum is one of the essential food additives in convenience food products, such as soups, cakes, pastry, bread, gravies, and snacks, which improves its quality. An increase in consumer interest in processed food products is expected to further augment the growth of the guar gum market shortly. Moreover, the increasing preference for low-calorie and low-fat foods favoring guar gum has helped reduce the overall fat content in foods; this trend is benefiting the guar gum market. Guar gum is used as a fat replacer in convenience food. The consumer demand for convenience food products that will fit their lifestyles has been rising, globally. Manufacturers continue to focus on convenience food & beverages as the major potential segment for guar gum application.
This WK-chem Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading Guar Gum companies that include Hindustan Gum, Jai Bharat Gum and Chemicals, Neelkanth Polymers, Sunita Hydrocolloids, Vikas WSP, Guangrao Liuhe Chemical, Global Gums & Chemicals, Shandong Dongda Commerce, Jingkun Chemistry Company, Lotus Gums & Chemicals, Supreme Gums, Shree Ram Group, Wuxi Jinxin Science& Tchnology, Rama Industries, Vikas Granaries Limited, Raj Gum.
Segmentation of Guar Gum Market:
According to grade, the industry can be divided into pharmaceutical grade, industrial grade and food grade. The industrial-grade guar gum products accounted for the largest share of the market. These are used in various applications such as well fracturing, oil well stimulation, oil recovery, oil well drilling, geological drilling, and water drilling. It acts as a deformer, surfactant, and synthetic polymer in these applications. The rapid growth in oil drilling and oil recovery activities in the North American and Middle Eastern countries, along with the increase in the usage of guar gum for the extraction of unconventional sources of oil is expected to drive the market for industrial grade guar gum products during the forecast period.
According to function, the industry can be divided into thickening, gelling, binding, friction reducing. The gelling agent function of guar gum is having the maximum share due to its large-scale application in the oil & gas industry as an ingredient in the hydraulic fracking process. It is widely used in the oil drilling industry to increase the production rate of oil & gas, owing to its multifunctionality for fluid & water loss control, lubrication and cooling of drill bits, and as a shale inhibitor.
Guar gum can be widely used in food & beverages, oil & gas, paper manufacturing, mining & explosives and pharmaceuticals & cosmetics industries. The food & beverages products segment accounted for the largest share of the global guar gum market. Guar gum is used in numerous confectionery products, such as gummy and chewy confections, aerated confections and marshmallows, confectionery jellies, jelly beans, fruit leathers, caramels, fondants, pastes, and liquid centers/fillings. It increases the shelf life and controls and accelerates the setting time. The key factor responsible for the demand for guar gum in confectionery applications is the advantages offered by this product, such as better flavor release, reduced hot viscosity, good gel clarity.
Guar Gum Market: Regional Analysis
In terms of geography, the global guar gum market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. North America has the largest share. The United States, in particular, is estimated to be the largest market for guar gum due to the substantial growth in the adoption of hydraulic fracturing and well drilling in the oil and gas industry. This trend is expected to continue over the forecast period owing to the availability of substantial technically recoverable oil and gas resources. Rising number of oil rigs in the United States is one of the major factors contributing to the market growth in this region. This leads to increased demand for the product, which drives up its price. In addition, efforts by the U.S. government to intensify exploration activities are expected to positively impact the market growth.
The food processing sector is one of the major consumers of guar gum in Europe. Awareness of the weight loss benefits of this product is expected to increase its demand. Population growth, rising disposable income and rapid urbanization in the Asia-Pacific region have stimulated the consumption of processed foods. This in turn drives product demand in the region. China and India are expected to be major consumers due to the rapid growth in oil and gas exploration activities and the presence of substantial technically recoverable resources.
Largest share area：North America
Largest share country：the Unite States
Product Type(by Grade)：Pharmaceutical Grade, Industrial Grade and Food Grade
Product Type(by Function)：Thickening, Gelling, Binding, Friction Reducing
Application：Food & Beverages, Oil & Gas, Paper Manufacturing, Mining & Explosives and Pharmaceuticals & Cosmetics
Leading Company：Hindustan Gum, Sunita Hydrocolloids, Rama Industries, Supreme Gums,Global Gums & Chemicals