Guar Gum Market? Growing Trade Among Emerging Economies Opening New Opportunities (2020-2026)

Global Guar Gum Market is valued to reach USD 1.18 billion by 2022, growing at CAGR of 5.2% from 2020-2026. This is a latest report, covering the current COVID-19 impact on the market. This market report is a detailed study on the growth, investment opportunities, market statistics, growing competition analysis, major key players, industry facts, important figures, sales, prices, revenues, gross margins, market shares, business strategies, top regions, demand, and developments.

Distantly, guar gum is also employed in the industrial sector that is mainly used as a coating, thickening or binding agent. Moreover, in the pharmaceuticals industry witness significant contribution of guar gum for various processes. The key factors driving the market are surging demand for convenience food owing to changing eating habits, growing product penetration in pharmaceutical industry, aging population, increasing prevalence of non-communicable diseases and chronic disorders.

Growing health concerns and rise in demand for effective health & nutrition has raised a high interest in consumers for supplements with natural ingredients. In addition, high-end use of guar gum in food industry is more likely to enhance the market development on a global scale. Due to its multi-functional characteristics, guar gum witness a surge in applications in various domains. For instance, in the mining & explosives industry, it is used as a waterproofing agent.

Global Guar Gum Market Analysis by Key Players:

Rama Industries

Vikas WSP

Hindustan Gums and Chemicals

India Glycols

AEP Colloids

Guar Gum Market Segment Insights:

Oil & Gas accounted for a major share in the past years

Based on application category, the guar gum market comprises oil & gas, thickening, paper manufacturing, mining and explosives, pharmaceuticals & cosmetics and food & beverages. Oil & gas applications dominated the market in the recent past owing to rise in oil exploration projects. Significant investments and ongoing innovations by key players are some major highlights.

Gelling holds the largest share in the function segment

Based on function category, the guar gum market can be segmented as thickening, gelling, binding and friction reducing. Gelling holds a largest share attributing to rise in use of guar gum in oil & gas industry. Moreover, gelling finds extensive use in pharmaceutical products such as liquid soaps, creams & gels and personal care.

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