Guar Gum Market Forecast
Global Guar Gum Market, By Grade (Food, Pharmaceutical, and Industrial); By Function (Stabilizers and Emulsifier, Thickening and Gelling agent, Binders, Friction Reducers, and Others); By Application (Oil and Gas, Food and Beverages, Pharmaceuticals and Cosmetics and Other); By Region (North America, Europe, the Asia-Pacific, the Middle East & Africa, and Latin America) Trend Analysis, Competitive Market Share & Forecast, 2017-2027
- Published Date: June 2021
- Report ID: bwc20390
- Available Format: PDF
- Page: 145
Report Overview
The Global Guar
Gum Market- Industry Trends & Forecast Report 2027
The global guar gum market was worth USD 774.1 million in 2020 and is further projected to reach USD 1,224.2 million by 2027, at a CAGR of 6.8 % during the forecast period (2021-2027). The global guar gum industry is primarily driven by the increased usage of guar gum as a food preservative in the food processing industry. In addition, the use of guar gum as a gelling agent in hydraulic fracturing applications in the oil and gas industry is a significant growth driver for the global guar gum market.
Source: BlueWeave Consulting
Global Guar Gum
Market Overview
Guar gum is an
excellent free-flowing powder that is extracted from the guar plant. Guar gum
is a type of hydrocolloidal polysaccharide made up of galactose and mannose
sugars. Guar gum powder is white to yellowish and has a slight odor. It has
high solubility and thickening properties in both hot and cold water. Guar gum
is used in a variety of industries, including food and beverage production,
baking, oil and gas production, cosmetics, and pharmaceuticals. It is used as a
preservative, gelling agent, and emulsifier in the food business. Guar gum is
used in the beverage industry to preserve the viscosity of beverages and to
make them low-calorie in the case of low-calorie beverages. Also, guar gum is
used in the thickening of dyeing solutions in textile and carpet printing,
which results in sharper printed patterns. Guar gum is also significantly used
in petroleum extraction, particularly in the area of hydraulic fracturing.
Additionally, guar gum has a wider application in the pharmaceutical industry,
where it is used for making gels and tablets.
Global Guar Gum
Market Trend
Growth Drivers
Increased penetration of guar gum in food and
beverage industries
The global guar gum market is expected
to experience substantial growth due to the high demand for guar gum in the
food and beverage industry. According to the U.S. Department of Agriculture,
approximately 36,486 food and beverage processing plants were owned by around
31,401 companies in the United States in 2021. Guar gum reduces crystal
formation in frozen food items and functions as a binder and stabilizer to
improve the shelf life of ice cream, thereby, driving the growth of the
global guar gum market. Guar gum improves the smoothness of dairy products
while maintaining uniform viscosity. Additionally, it controls thickness, gel
formation, glazing, and moisture retention in confectionery products, resulting
in high-quality confectionery, which in turn boosts the growth of the
global guar gum market. Guar gum provides excellent viscosity control in drinks
and reduces the calories in low-calorie beverages. The extensive use of guar
gum in food and beverage products is the primary growth driver of the
global guar gum market.
The Increased Use of Guar Gum by
Pharmaceutical and Cosmetics Companies
Since pharmaceutical companies are
the major users of guar gum, the emerging pharmaceutical industry is playing a
key role in driving the growth of the global guar gum market. The demand for
guar gum is rising as the volume of medicines produced increases. According to
the European Federation of Pharmaceutical Industries and Associations, 62.3
% of new medications were launched in the United States between 2014 and
2019, compared to 18.4% in Europe. Guar gum is used as a binding agent,
thickening agent, suspending agent, and stabilizing agent in the pharmaceutical
industry, which is powering the growth of the global guar gum market. Guar gum
is also a great viscosity modifier that swells rapidly in aqueous solutions,
making it ideal for making gels and viscous dispersions. Guar gum also
possesses binding qualities, making it excellent for manufacturing tablets to
enhance the cohesiveness in the drug powder for tablet formation, thereby driving
the growth of the global guar gum market. What’s more, guar gum also acts as a
good disintegrator in tablet manufacturing. So that’s how the increasing demand
for guar gum in the pharmaceutical industry is propelling the global guar gum
market forward.
Restraints
Side Effects of Guar Gum
The global guar gum market has been
impacted by major adverse effects such as pulmonary embolism, esophageal tear,
small bowel obstruction, and luminal obstruction associated with high dosages
of guar gum. Breathing problems, flushing, itching, and diarrhea are all common
allergic reactions caused by excessive ingestion. When guar gum is used in
excess in packaged meals, it can cause digestive issues, leaky gut syndrome,
inflammatory bowel syndrome, and even serious conditions such as colon cancer.
Moreover, guar gum, when used as an emulsifier, has the potential to alter
healthy levels of bacteria levels, thereby contributing to chronic low-level
inflammation. These are a few factors hindering the growth of the global guar
gum market.
Impact of COVID-19
COVID-19 has had a negative impact
on the global guar gum market as the supply of guar gum has been severely
hampered due to lockdown and trade restrictions. To comply with
governments' social distancing guidelines, major end-user companies around
the globe had to curtail their production capacity, thereby lowering
the demand for additives for the products. These problems combined
to reduce revenue for major industry players, which is projected
to impede investments in the global guar gum market in the foreseeable
future. However, guar gum manufacturers who offer guar gum to pharmaceutical
companies have seen an increase in business since pharma businesses have been
increasingly employing guar gum in the production of tablets. However, the overall count of pharmaceutical
companies is insignificant compared to the consumer goods market; hence COVID-19
continues to wreak havoc on the global guar gum market.
Global Guar Gum Market: By
Grade
Based on the grade, the global guar
gum market is divided into three segments-- food grade, pharmaceutical grade, and
industrial grade. The demand for the food-grade segment is dominating the
market because of the increasing food processing industries. Rising awareness
of using natural preservatives in functional foods is also driving the growth
of the market. The changing lifestyle and eating habits of the millennial
population are also raising the demand for processed food,
thereby contributing to the market's growth.
Nevertheless, the demand for industrial grades of guar gum is also skyrocketing because it is used in large quantities in the hydraulic fracking process for the extraction of shale oil and gas. Industrial grade is also used in the mud drilling process in the oilfields to maintain the viscosity of mud and to remove the drilling waste.
Source:
BlueWeave Consulting
Global Guar Gum Market: Regional Insights
Based on the region, the global guar gum market is segmented into North America, the Asia-Pacific, Europe, Latin America, and the Middle East & Africa. Because of the adoption of the trend of utilizing guar gum in hydraulic fracturing and oil well drilling in the oil and gas industry, North America accounted for the largest share of the global guar gum market. Additionally, the United States government's initiatives to enhance oil drilling activities have increased the demand for guar gum globally. The food processing sector is also one of the major consumers of guar gum in North America. The busy lifestyle and changing eating habits of the population also fuel the growth of the global guar gum market.
Source:
BlueWeave Consulting
Competitive landscape
The key players in the global
guar gum market are Hindustan
Gum & Chemicals, Jai Bharat Gum & Chemicals, Vikas WSP, Ltd., India
Glycols, Ltd., Shree Ram Industries, Altrafine Gums, Lucid Group, Supreme Gum
Pvt. Ltd., Cargill, Dabur, Neelkants Polymers, and other prominent players. To improve their production capabilities and product
range, companies are consistently participating in alliances, acquisitions, and
mergers.
Recent Developments
·
In
May 2021, Cargill acquired Leman Decoration Company which mainly deals in
providing the services of cake decorations across the bakery. This acquisition
will help Cargill grow in the ornamental market while also increasing revenue
for the company's cocoa and chocolate businesses.
·
In
March 2021, India’s largest leading
science-based company Dabur India Ltd. expanded its hair care segment with the
launch of the ‘Dabur Vatika Select premium range of shampoos. Guar gums are increasingly
utilized in shampoos for thickening and improved emulsions. Thus,
renowned companies like Dabur are utilizing guar gum for
launching new products and diversifying their product portfolio.
Attribute |
Details |
Years Considered |
Historical data – 2017-2020 Base Year – 2020 Forecast – 2021 – 2027 |
Facts Covered |
Revenue in USD Million |
Market Coverage |
U.S, Canada, Germany, UK, France, Italy, Spain,
Brazil, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia,
Mexico |
Product/Service Segmentation |
By Grade, Application, Function, and Region |
Key Players |
Key Players for the market are Hindustan Gum & Chemicals, Jai Bharat Gum &
Chemicals, Vikas WSP, Ltd., India Glycols, Ltd., Shree Ram Industries,
Altrafine Gums, Lucid Group, Supreme Gum Pvt. Ltd., and Neelkants Polymers,
Dabur India, Cargill, and other prominent players |
By Grade Type
Ø Food
Ø Industrial
Ø Pharmaceutical
By Application
Type
Ø
Food and Beverages
Ø Oil and Gas
Ø Pharmaceuticals
and Cosmetics
Ø
Others
By Function
Ø
Stabilizers and Emulsifiers
Ø Thickening and
Gelling
Ø Binders
Ø Friction Reducers
Ø
Others
By Region
Ø
North America
Ø
Europe
Ø The Asia-Pacific
Ø
Latin America
Ø
The Middle East & Africa
FAQs:
1.
What is the current size of the global guar gum market?
Answer: The global guar gum
market has reached USD 774.1 million in 2020.
2.
What are the major factors driving the growth of the global guar gum
market?
Answer: Increased demand for guar
gum in the pharmaceutical industry, as well as the food and beverage industry,
are the major growth factors.
3.
Who are the key players in the global guar gum market?
Answer: The key players in the
global guar gum market are Hindustan
Gum & Chemicals, Jai Bharat Gum & Chemicals, Vikas WSP, Ltd., India
Glycols, Ltd., Shree Ram Industries, Altrafine Gums, Lucid Group, Supreme Gum
Pvt. Ltd., and Neelkants Polymers, and other prominent players.
4.
Which grade segment accounted for the largest share in the global guar
gum market?
Answer: The food-grade segment accounted for the largest share in the
global guar gum market.
5.
Which region is growing at a higher rate in the global guar gum market?
Answer: North America is growing at a higher rate in the global guar gum market.
1.1. Research
Objective
1.2. Product Overview
1.3. Market
Segmentation
2. Research
Methodology
2.1. Qualitative
Research
2.1.1. Primary and
Secondary Sources
2.2. Quantitative
Research
2.2.1. Primary and
Secondary Sources
2.3. Breakdown of
Primary Research Respondents
2.3.1. Secondary
Research
2.3.2. Primary Research
2.4. Breakdown of
Primary Research Respondents, By Industry Participants
2.5. Market Breakdown
& Data Triangulation
3. Executive Summary
4. Global Guar Gum
Market – Industry Insights
4.1. Value Chain
Analysis
4.2. DROC Analysis
4.2.1. Growth Drivers
4.2.2. Restraints
4.2.3. Opportunity
4.2.4. Challenges
4.3. Recent
Developments
4.4. Regulatory
Framework
5. Global Guar gum
Market Overview
5.1.Market Size &
Forecast by Value, 2017-2027
5.1.1. By Value (USD
Million)
5.2.Market Share
& Forecast
5.2.1. By Grade
5.2.1.1. Food Grade
5.2.1.2. Industrial Grade
5.2.1.3. Pharmaceutical
Grade
5.2.2. By Function
5.2.2.1. Stabilizers and
Emulsifier
5.2.2.2. Thickening and
Gelling agent
5.2.2.3. Binder
5.2.2.4. Friction
Reducer
5.2.2.5. Others
5.2.3. By Application
5.2.3.2.
Food and Beverages
5.2.3.3. Pharmaceuticals
and Cosmetics
5.2.3.4. Other
5.2.4. By Region
5.2.4.1. North America
5.2.4.2. Europe
5.2.4.3. The Asia-Pacific
5.2.4.4. Latin America
5.2.4.5. The Middle East
& Africa
6. North America
Guar Gum Market
6.1. Market Size &
Forecast by Value, 2017-2027
6.1.1. By Value (USD
Million)
6.2. Market Share
& Forecast
6.2.1. By Grade
6.2.2. By Function
6.2.3. By Application
6.2.4. By Country
6.2.4.1. United States
6.2.4.2. Canada
7. Europe Guar Gum Market
7.1. Market Size &
Forecast by Value, 2017-2027
7.1.1. By Value (USD
Million)
7.2. Market Share
& Forecast
7.2.1. By Grade
7.2.2. By Function
7.2.3. By Application
7.2.4. By Country
7.2.4.1. Germany
7.2.4.2. United Kingdom
7.2.4.3. France
7.2.4.4. Italy
7.2.4.5. Spain
7.2.4.6. Rest of Europe
8. Asia Pacific Guar
Gum Market
8.1. Market Size &
Forecast by Value, 2017-2027
8.1.1. By Value (USD
Million)
8.2. Market Share
& Forecast
8.2.1. By Grade
8.2.2. By Function
8.2.3. By Application
8.2.4. By Country
8.2.4.1. India
8.2.4.2. China
8.2.4.3. Japan
8.2.4.4. South Korea
8.2.4.5. Rest of Asia
Pacific
9. Latin America
Guar Gum Market
9.1. Market Size &
Forecast by Value, 2017-2027
9.1.1. By Value (USD
Million)
9.2. Market Share &
Forecast
9.2.1. By Grade
9.2.2. By Function
9.2.3. By Application
9.2.4. By Country
9.2.4.1. Brazil
9.2.4.2. Mexico
9.2.4.3. Rest of Latin
America
10.Middle East &
Africa Guar Gum Market
10.1.
Market Size & Forecast by Value, 2017-2027
10.1.1.
By Value (USD Million)
10.2.
Market Share & Forecast
10.2.1.
By Grade
10.2.2.
By Function
10.2.3.
By Application
10.2.4.
By Country
10.2.4.1. Saudi Arabia
10.2.4.2. UAE
10.2.4.3. South Africa
10.2.4.4. Rest of Middle
East & Africa
11.Competitive
Landscape
11.1.
List of Key Producers and Their Offerings
11.2.
Market Share Analysis (2020)
11.3.
Competitive Benchmarking, By Operating Parameters
12.Impact of
COVID-19 on Global Guar Gum Market
13.Company Profiles
(Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key
Competitors, Contact Address, and Strategic Outlook)
13.1. Hindustan
Gums & Chemicals
13.2. Jai
Bharat Gums & Chemicals
13.3. Vikas
WSP,Ltd.
13.4. India
Glycols,Ltd.
13.5. Shree
Ram Industries
13.6. Altrafine
Gums
13.7. Lucid
Group
13.8. Supreme
Gums Pvt. Ltd.
13.9. Neelkants
Polymers
13.10.
Dabur India Ltd.
13.11.
Others Prominent Players
14. Key Strategic Recommendations
* Financial
information of non-listed Companies will be provided as per availability
**The segmentation and the companies are subjected to
modifications based on in-depth study during the final deliverable.
List of Figures
Fig: Global Guar Gum Market Segmentation
Fig: Global Guar Gum Market Value Chain Analysis,
Fig: Company Market Share Analysis, 2020
Fig: Global Guar Gum Market Size, By Value (USD
Million), 2017-2027
Fig: Global Guar Gum Market Share (%), By Grade, By
Value, 2017-2027
Fig: Global Guar Gum Market Share (%), By Function,
By Value, 2017-2027
Fig: Global Guar Gum Market Share (%), By
Application, By Value, 2017-2027
Fig: Global Guar Gum Market Share (%), By Country,
By Value, 2017-2027
Fig: North America Guar Gum Market Size, By Value
(USD Million), 2017-2027
Fig: North America Guar Gum Market Share (%), By
Grade, By Value, 2017-2027
Fig: North America Guar Gum Market Share (%), By
Function, By Value, 2017-2027
Fig: North America Guar Gum Market Share (%), By
Application, By Value, 2017-2027
Fig: North America Guar Gum Market Share (%), By
Country, By Value, 2017-2027
Fig: Europe Guar Gum Market Size, By Value (USD
Million), 2017-2027
Fig: Europe Guar Gum Market Share (%), By Grade, By
Value, 2017-2027
Fig: Europe Guar Gum Market Share (%), By Function,
By Value, 2017-2027
Fig: Europe Guar Gum Market Share (%), By
Application, By Value, 2017-2027
Fig: Europe Guar Gum Market Share (%), By Country,
By Value, 2017-2027
Fig: Asia-Pacific Guar Gum Market Size, By Value
(USD Million), 2017-2027
Fig: Asia-Pacific Guar Gum Market Share (%), By Grade,
By Value, 2017-2027
Fig: Asia-Pacific Guar Gum Market Share (%), By Function,
By Value, 2017-2027
Fig: Asia-Pacific Guar Gum Market Share (%), By
Application, By Value, 2017-2027
Fig: Asia-Pacific Guar Gum Market Share (%), By
Country, By Value, 2017-2027
Fig: Latin America Guar Gum Market Size, By Value
(USD Million), 2017-2027
Fig: Latin America Guar Gum Market Share (%), By
Grade, By Value, 2017-2027
Fig: Latin America Guar Gum Market Share (%), By
Function, By Value, 2017-2027
Fig: Latin America Guar Gum Market Share (%), By
Application, By Value, 2017-2027
Fig: Latin America Guar Gum Market Share (%), By
Country, By Value, 2017-2027
Fig: Middle East & Africa Guar Gum Market Size,
By Value (USD Million), 2017-2027
Fig: Middle East & Africa Guar Gum Market Share
(%), By Grade, By Value, 2017-2027
Fig: Middle East & Africa Guar Gum Market Share
(%), By Function, By Value, 2017-2027
Fig: Middle East & Africa Guar Gum Market Share
(%), By Application, By Value, 2017-2027
Fig: Middle East & Africa Guar Gum Market Share
(%), By Country, By Value, 2017-2027
List of Tables
Table: North America Guar Gum Market Size, By
Grade, By Value (USD Million), 2017-2027
Table: North America Guar Gum Market Size, By
Function, By Value (USD Million), 2017-2027
Table: North America Guar Gum Market Size, By
Application, By Value (USD Million), 2017-2027
Table: Europe Guar Gum Market Size, By Grade, By
Value (USD Million), 2017-2027
Table: Europe Guar Gum Market Size, By Function, By
Value (USD Million), 2017-2027
Table: Europe Guar Gum Market Size, By Application,
By Value (USD Million), 2017-2027
Table: the Asia-Pacific Guar Gum Market Size, By
Grade, By Value (USD Million), 2017-2027
Table: the Asia-Pacific Guar Gum Market Size, By
Function, By Value (USD Million), 2017-2027
Table: the Asia-Pacific Guar Gum Market Size, By
Application, By Value (USD Million), 2017-2027
Table: Latin America Guar Gum Market Size, By
Grade, By Value (USD Million), 2017-2027
Table: Latin America Guar Gum Market Size, By
Function, By Value (USD Million), 2017-2027
Table: Latin America Guar Gum Market Size, By
Application, By Value (USD Million), 2017-2027
Table: The Middle-East & Africa Guar Gum Market
Size, By Grade, By Value (USD Million), 2017-2027
Table: The Middle-East & Africa Guar Gum Market
Size, By Function, By Value (USD Million), 2017-2027
Table: The Middle-East & Africa Guar Gum Market
Size, By Application, By Value (USD Million), 2017-2027
Table: Hindustan Gums & Chemicals Financial
Analysis
Table: Hindustan Gums
& Chemicals Business Overview
Table: Jai Bharat Gums
and Chemicals Financial Analysis
Table: Jai Bharat Gums and Chemicals Business
Overview
Table: Vikas WSP, Ltd.
Financial Analysis
Table: Vikas WSP, Ltd.
Business Overview
Table: Indian Glycols
Financial Analysis
Table: Indian Glycols
Business Overview
Table: Shree Ram
Industries Financial Analysis
Table: Shree Ram
Industries Business Overview
Table: Altrafine Gums
Financial Analysis
Table: Altrafine Gums
Business Overview
Table: Lucid Group
Financial Analysis
Table: Lucid Group
Business Overview
Table: Supreme Gums
Pvt. Ltd. Financial Analysis
Table: Supreme Gums
Pvt. Ltd. Business Overview
Table: Neelkants
Polymers Financial Analysis
Table: Neelkants
Polymers Financial Analysis
Market Segmentation
By Grade Type
Ø Food
Ø Industrial
Ø Pharmaceutical
By Application
Type
Ø
Food and Beverages
Ø Oil and Gas
Ø Pharmaceuticals
and Cosmetics
Ø
Others
By Function
Ø
Stabilizers and Emulsifiers
Ø Thickening and
Gelling
Ø Binders
Ø Friction Reducers
Ø
Others
By Region
Ø
North America
Ø
Europe
Ø The Asia-Pacific
Ø
Latin America
Ø
The Middle East & Africa
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