Guar gum Market is Anticipated to Touch a CAGR of 5.3% During the Forecast Period (2023-2031).
Guar gum is a natural polymer that is obtained from guar beans and has several distinctive properties such as binding, thickening, among others. Guar gum is mainly produced in India and Pakistan from the annually grown legume. Small amount of guar gum is also produced in U.S. also. Guar gum is extensively used in the food industry. Food industry is the major market for Guar gum followed by pharmaceuticals, cosmetics, among others. It is used in number of food products such as baked goods, it increases the dough yield, also enhances shelf live and improve texture. In dairy industry it is used to thicken and stabilize kefir, yogurt, and some other liquid dairy products such as cheese. It also used in meat and functions as a binder. It is also used in food industry to improve the stability and appearance of barbecue sauces, dressings, and other condiments. It is very popular in food sector owing to its thickening function it has around 8 times thickening ability than corn starch.
Moreover, guar gum is used in the hydraulic fracturing and oil well drilling in oil and gas industry. It is also used in the pulp and paper manufacturing as a binding agent. In the pharmaceutical industry, it is used as a binding and gelling agent.
Guar gum is extensively used as an emulsifying agent and binding agent in the food industry. Its functions and properties such as binding property, emulsifying property, controlled release of the products, among others have made it important for the flavor industry. There are numerous types of flavors such as color flavor, cloud flavor, emulsion flavors, encapsulated flavors, among others. The demand for guar gum is increasing for making encapsulated flavors at it is an emulsifier and has a great binding property; it helps in the controlled release of flavors in various food products through encapsulating the flavor. For instance, TasteTech Encapsulated Solutions has made flavoring for chewing gum with controlled-release technology which helps chewing gum long-lasting sustained release of flavors.
On the basis of function, the guar gum market has been segmented into thickening agent, gelling agent, binding agent, friction reducing agent, and others. The thickening agent segment accounted for majority of the market share in the global guar gum market in 2019 owing to its extensive used as a thickening agent in various foods and medicines for both humans and animals. It is used in the baked goods as it is gluten free and replaces wheat flour. It is considered economical compared to other thickening ingredients. Guar gum has around eight times more thickening ability than other agents such as corn starch, and hence small quantity of guar gum is needed to produce sufficient amount of food product.
On the basis of end user, the market has been segmented as food & beverage, pharmaceuticals, cosmetics, mining and explosives, paper & pulp, oil & gas, and others. Food & beverage is further segmented into bakery and confectionery products, dairy and frozen products, beverages, sauces & dressings, and others. Among the end user segment food & beverage hold the majority of market share owing to its extensive use in the industry for baked goods, cooked goods, flavors preparation, as a hydrocolloid in beverage manufacturing, as an emulsion in various liquid products, among others. The food & beverage segment is expected to hold more than one-third of the market share in near future.
Asia Pacific is expected to be the fastest-growing market for guar gum owing to the increasing industrial and manufacturing sector in the region. The emerging nations such as China, India and Japan are contributing majority of the share in the Asia Pacific guar gum market. Guar gum is extensively used in the pharmaceutical industry and the growth in the pharmaceutical sector was the highest in the China and India recently. For instance, according to the report of European Federation of Pharmaceutical Industries and Associations published in 2018, during the period of 2013-2017, India and China were the fastest growing pharmaceutical markets. Indian market grew by 11 percent and Chinese pharmaceutical market grew by 9.4 percent. These factors have significantly impacted the Asia Pacific guar gum market growth and are expected to further enhance the growth in the near future.
Europe is expected to hold the majority of the market share in the guar gum market owing to its huge food industry presence. According to the FoodDrinkEurope, EU food and beverages industry employs 4.72 million people. In 2019, the Europe food & beverage industry generated revenue of around USD 1,343.8 billion and 264.2 billion in value added. This makes Europe the largest food and beverage market in the world. This huge industry requires more amount of guar gum for several purposes in food and beverage making which in turn makes Europe the leading guar gum consuming region in the world.
Some of the prominent players are
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