COVID-19: GUAR GUM MARKET TO REACH USD 1.4 BILLION BY 2027 | CAGR 6.2% — FORENCIS RESEARCH

Global Guar Gum Market: Key Highlights

• According to the new market research report “Guar GumMarket by Grade (Organic Food Grade, Industrial Grade, Pharmaceutical Grade), by Function (Emulsifier, Thickening Agent, Gelling Agent, Friction Reducer, Stabilizer, Others), by Application (Food & Beverages, Pharmaceutical & Cosmetics, Oil & Gas, Paper Manufacturing, Mining & Explosives, Others)by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) — Global Forecast (2020 to 2027)”, the global guar gummarket is estimated to reach USD 1.4 Billion by 2027 at a CAGR of around 6.2% during the review period.
• Guar gum is a natural gum extracted from guar beans and is also known as gellen gum
• Easily soluble in hot and cold water, viscosity control, good thickener and stabilizer, excellent water-binding capacity, film-forming capacity, resistance to oil & grease, and compatible with hydrocolloids are some of the properties of guar gum which makes it more popular in various industries
• Guar gum is used as a laxative, and is used for treating diarrhea, obesity, for reducing cholesterol, and irritable bowel syndrome

Global Guar Gum Market: Key Market Dynamics

• Multifunctional properties of guar gum such as emulsifier, stabilizer, binding agent, coating agent, thickener, and gelling have increased its use in various application such as food & beverages, oil & gas, and many, which is likely to drive the guar gum market
• Increasing demand from the oil & gas industry to improve or enhance the recovery of hydrocarbons from underground formation has expected to drive the market
• Availability of various substitutes of guar gum at a cheaper price has expected to hinder the growth of the product market

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Global Guar Gum Market: Regional Overview

• North America

North Americais anticipated to witness prominent growth in guar gum market owing to the developing oil & gas industry. According to U.S. Energy Information Administration (EIA), the U.S. production of crude oil was 12.23 million barrels per day in 2019. Thus, the demand from the oil & gas industry for hydraulic fracturing is expected to drive demand for industrial-grade guar gum. Moreover, the increasing demand for natural additives for processed food, owingto growing health-conscious people has expected to drive the guar gum market growth in the region.

• Asia-Pacific

The Asia-Pacific is anticipated to dominate growth in guar gum market during the forecasted period owing to the presence of the largest guar gum producer such as India, and Japan. According to Agricultural & Processed Food Products Export Development Authority (APEDA), India exported 5,13,211.91 Metric ton of guar gum during the year 2018–19 across the globe. The major export destinations are the U.S., Russia, Norway, Germany, and the Netherlands.

FIG: EXPORTS OF GUAR GUM FROM INDIA (Metric Tons) (2019–20)

(Source: Agricultural & Processed Food Products Export Development Authority (APEDA))

Global Guar Gum Market: Key Players Overview

• VIKAS WSP LTD:

VIKAS WSP LTD is an Indian-based company engaged in manufacturing and supplying guar gum. The company is one of India’s largest manufacturer and exporter of guar gum powder across the globe.VIKAS WSP LTD’sS guar gum products are for highly specified applications such as oil & natural gas, exploration, explosive, mining, and food & beverages. In March 2019, VIKAS WSP Ltd received approval for export of their DP guar gum products for utilization in fertilizer stabilizing applications.

• Ingredion Incorporated:

Ingredion Incorporatedis one of the leading global ingredient solution company. The company offers a wide range of sweeteners, starch, nutrition ingredients, and biomaterials for application in food & beverages, paper, and pharmaceutical industries. Ingredion Incorporated strong global sales and distribution network in North America, Asia Pacific, Europe, and the Middle East & Africa. In January 2017, the company completed its acquisition of TIC Gums Incorporated (U.S.) with an aim to strengthen the product portfolio.

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