Guar Gum Market to Record an Exponential CAGR by 2024
The
global guar gum market is expected to see a remarkable growth in the
years to come owing to the rising demand for convenience food as per
the changing habits of people. Guar gum is a natural gum made from
guar beans. It has high molecular weight carbohydrate polymer and is
made up of a large number of galactose and mannose units combined
together. Guar gum powder provides an excellent thickening
consistency that can provides up to eight times the original
consistency of other gums. Thus, guar gums can be effectively used in
lot of food products including dressings, baking mixes, and milk
products as well.
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The
two variations of the global guar gum market are based on grade,
application, and function. As per the segmentation by grade, the
market is classified into pharmaceutical grade, industrial grade, and
food grade. Based on classification by application, the global market
for guar gum is categorized into cosmetics and pharmaceuticals, food
and beverage, and oil and gas. With respect to segmentation by
function, the global market for guar gum is grouped into friction
reducer, binder, gelling and thickening agent, and stabilizer and
emulsifier.
The
report presented above is a complete evaluation of the global guar
gum market with large focus on market dynamics. It includes the
market drivers, restraints, and trends and opportunities. It also
offers geographical and other segmentation studies of the market.
Global
Guar Gum Market: Trends and Opportunities
The
demand for guar gum is likely to increase in the coming years because
of its multiple uses in confections, baked food products, pet food,
beverages and frozen food products. Apart from this, they are also
used in the pharmaceutical industry as well for making tablets as
disintegrating agent and binder. They are also used in the tablet
making for micro-encapsulating drugs. While in capsule making, guar
gum acts as a dietary fiber. However, guar gums have also made their
entry and usage into the cosmetic industry and have various uses like
thickener, while acting as a protective colloid in lotions, creams,
and other skin care products.
Guar
gum displays excellent thickening and film-forming properties and has
great demand in the printing, finishing as well as textile
industries. But the main and most dominant demand for guar gum is
seen to be from the food packaging industry. These factors are all
expected to drive the market for future growth and production of the
market globally.
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Global
Guar Gum Market: Regional Analysis
The
global market for guar gum could be categorized into the regions of
Europe, North America, Asia Pacific, South America, and Middle East
and Africa. Among these, the North American region is seen to be
dominating the region because of large number of contributions from
both Canada and the U.S., because of their expanding food and
beverage industry.
Apart
from North America, the region estimated to overpower the global
market for guar gum is Asia Pacific region. This is because of the
growing manufacturing facilities in the region that is mostly taking
place in the developing regions of Australia, China, and India. These
countries are yet to offer lucrative opportunities and is thus,
estimated to dominate the market for guar gum in the coming years.
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Global
Guar Gum Market: Companies Mentioned
Prominent
players of the global guar gum market are Hindustan Gums and
Chemicals, Vikas WSP Limited, The L.R. Industries, Chimique (India)
Ltd, the USA Guar Gum, Dabur India Ltd., and India Glycols Limited.
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