Global Guar Gum Market size is expected to grow at a high CAGR during the period 2017-2024
Guar Gum Market size will witness healthy growth with applications in textile, paper, food & beverage, explosives, pharmaceutical, cosmetics and oil & gas industries. These are used in oil & gas industry for hydraulic fracturing in shale oil & gas extraction and consume around 90% of total production by Asia Pacific. Hydraulic fracturing activity has seen a rise in the U.S. that in turn is anticipated to propel Guar Gum Market
These find application in food & beverage sector as thickening, suspending, stabilizing and binding agent in bakery products. Bakery industry shall grow at a CAGR of above 6% in next five years and expected to enhance its consumption. These are used in explosives industry and mixed with nitro-glycerine and ammonium nitrate to provide waterproofing agent. Further it amplifies sheet formation and folding for printing and expected to boost guar gum market.
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Guar gum or guaran is fabricated from beans and utilized in various industries owing to its thickening and stabilizing properties. The seeds are de-husked, screened and milled obtain product. It is produced as free flowing and off-white powder and classed as galactomannan. These are polysaccharide, comprises of sugar galactose and mannose and solubility higher than locust bean gum. These are quite stable at pH range 5-7.
Major restraint for guar gum market is emergence of gluten free substitutes such as psyllium fibre and chia seeds. It has lost its lustre with oversupply and reduced demand in recent years. Further, decrease in oil price has affected its demand with reduced oil & gas exploration activities globally. European commission issued a warning against its high intake due to presence of dioxins that weakens immune system. Week exports and huge stock burden may limit its growth in near future.
Browse key industry insights from the report Guar Gum Market in detail along with the table of contents:
Based on grade, guar gum market is segmented into food, industrial and pharmaceutical. Industrial grade has major share owing to its application in vast applications in oil & gas, mining, explosives, textile, tobacco, paper manufacturing and photography industries. Food sector has substantial share with multi-functional properties and use in confectionary and frozen food products. Frozen food industry is anticipated to grow at a CAGR above 4% in next seven years and shall propel its demand.
Based on function, guar gum market is classified as thickening, gelling, binding, friction and others including flocculating & setting, coagulating, strengthening and hardening. Gelling has larger share with utilization in oil & gas industry for exploration. In addition, owing to its gelling property these are employed in personal care and pharmaceutical products such as creams & gels, liquid soaps and dental impression materials.
With respect to application, guar gum market is segmented into food & beverages, oil & gas, paper manufacturing, pharmaceuticals & explosives and mining & explosives. Oil & gas industry has major share with increase in exploration activities and oil well drilling projects. These are primarily used in hydraulic fracking for shale oil production with the U.S. driving its demand. It enhances fracture creation and minimizes formation damage.
Food & beverage industry has substantial share in guar gum market and utilized in bakery products. These improve dough yield, texture, shelf life and resiliency in pastries. It acts as binder in meat and helps to maintain homogeneity and texture in dairy products such as milk, yogurt, ice cream, kefir and cheese. Further, these are used in pharmaceutical applications as it reduces serum cholesterol level and improves bowel movement.
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North America has substantial share in global guar gum market owing to prevailing oil & gas industry. Increase in non-conventional oil production such as shale oil and oil sand in the U.S. and Canada has enhanced its demand and this region is largest importer globally. Asia Pacific has significant share with presence of India and Pakistan as largest producer. India contributes around 80% of overall production.
Europe has moderate share in guar gum market with demand in frozen and processed foods. These are utilized in pharmaceutical and personal care products that are expected to show healthy growth. Latin America and Middle East & Africa has nascent share and may grow with increase in demand for bakery and processed food.
Prominent players of guar gum market are India Glycols, Vikas WSP, Rama Industries, Dabur India, Hindustan Gums and Chemicals, TIC, Nutriroma, AEP Colloids and Shree India Sino. Companies are expanding their production facilities for enhancing their penetration. Vikas WSP is encouraging farmers to shift towards cultivation of guar bushes.
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