Guar Gum Market size is projected to reach USD 692.97 Million by 2028 from an estimated USD 567.29 Million in 2021, growing at a CAGR of 2.9% globally.
Guar Gum also called Guaran, is a free-flowing powder made from the legumes known as guar beans. Guar Gum is a large chain of bonded carbohydrate molecules or a kind of galactomannan polysaccharide and is made up of two sugars such as galactose as well as mannose. Guar gum is used primarily in the food manufacturing industry, as they are thick and hold the ability to absorb water, forms a thickening gel, and helps in binding the food products.
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The market analysis report speaks about the growth rate of Guar Gum Market till 2028 manufacturing process, key factors driving this market with sales, revenue, and price analysis of top manufacturers of Market, distributors, traders and dealers of Guar Gum Market. The report covers the market landscape and its development prospects over the coming years. The report also contains a discussion of the key vendors operating in this market.
Segmentation Analysis Of Guar Gum Market
By Function
- Gelling
- Thickening
- Binding
- Friction Reducing
By Application
- Oil and Gas
- Food and Beverages
- Paper Manufacturing
- Mining and Explosives
- Pharmaceuticals and Cosmetics
By Grade
- Food grade
- Industrial grade
- Pharmaceutical grade
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By Region
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
- Middle East Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
- South America (Brazil, Argentina, Rest of SA)
Top Key Players Covered In Guar Gum Market:
- I. DuPont de Nemours and Company (US)
- Cargill (US)
- Shree Ram Industries (India)
- Ingredion Incorporated (US)
- Ashland Inc. (US)
- Vikas WSP Limited (India)
- Hindustan Gums and Chemical Limited (India)
- Dabur India Ltd. (India)
- India Glycols Ltd. (India)
- Neelkanth Polymers (India)
- Lucid Group (India)
- Global Gums and Chemicals Pvt. Limited (Pakistan)
- Guangrao Liuhe Chemical Co. Ltd. (China)
- Jai Bharat Gums and Chemicals Ltd (India)
- Altrafine Gums (India) and other major players.
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Covid-19 impact Analysis On Guar Gum Market
The COVID-19 pandemic had a strong impact on numerous industries. Due to the global pandemic, many regions have imposed complete shutdown, social distancing, and lockdown guidelines. This had a direct impact on the market growth of global guar gum. The global guar gum market was in a slump, and there were no investments in guar gum products. Due to this, major key players have implemented different ideas and tactics to propel the reduced demand for guar gum products. In the current scenario, the global guar gum market is estimated to boost market growth during the forecast period. Also, the consistent growth in lifestyle and chronic disorders and increasing demand for medicines will sustain the requirement of guar gum in the pharmaceutical industry, in addition to the consumption from other applications like paper manufacturing, mining, oil and gas, and textile sectorKey Industry Development In The Guar Gum Market
- In August 2021, The National Commodity and Derivatives Exchange (NCDEX) declared the launch of a futures contract on NCDEX GUAREX. NCDEX GUAREX is a price-based index that will help in tracking the price movement in the futures contracts of its underlying such as Guar Seed and Guar Gum Refined Splits on a real-time basis. The weightage of Guar Seed and Guar Gum Refined Splits in the index will be 63.43 percent and 36.57 percent, respectively.
- In January, 2019, Vikas WSP, an Indian company declared the launch of a new guar gum product that will stabilizer coconut milk.
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