Guar Gum Market Size, Application Report

Guar Gum Market Size, Application Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2014 To 2020

Format: PDF  |  Report ID: GVR1379

Global guar gum market is expected to witness a considerable growth over the forecast period owing to its widespread applications in numerous end-use industries including food & beverage, pharmaceutical, textile, paper, mining and oil & gas industry. Growing demand for guar gum from oil & gas industry is expected to be the key driver for market growth. Increased consumption of convenience foods coupled with changing lifestyle of consumers particularly in emerging economies of China, India, Brazil and Mexico is anticipated to have a positive impact on market. Growing health awareness among consumers has triggered the demand for natural food additives which is likely to drive guar gum market. Rapid growth in the global pharmaceutical industry over the past few years owing to various technological advancements is further expected to propel demand for guar gum over the next six years. However, seasonal dependence of guar gum coupled with demand & supply mismatch is anticipated to have a negative impact on market.

Food & beverage industry was the largest end-use segment of guar gum in 2013. Guar gum market is segmented on the basis of grades into food grade, pharmacy grade and industrial grade. Other grades of guar gum are used in textile, paper and cosmetic industries. Food grade guar gum is further segmented on the basis of applications into bakery, confectionery, dairy and meat products. Industrial grade of guar gum is widely used during hydraulic fracturing process in the extraction of shale gas. Food grade is expected to be the largest segment over the next six years on account of increased demand for convenience foods across the globe.

North America was the largest market for guar gum in 2013 on account of increased shale gas production in the region. Europe held the second largest share owing to the strong presence of food additive manufacturers coupled with well established medical industry in Germany, France and U.K. Asia Pacific is expected to witness high growth due to rapid industrialization as well as growing food & beverage industry in emerging economies of China and India.

Key players engaged in the production of guar gum include Palsgaard, Archer Daniels Midland Company, Beneo GmbH, Royal DSM, Danisco, FMC Corporation, GUM Technology Corporation, Ashland Inc, Kerry Group PLC and Taiyo Kagaku Co. Ltd.

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