Global Guar Gum Market was valued US$0.68 Bn in 2019 and is estimated to reach US$XX Bn by 2026 at a CAGR of more than XX % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Growing demand for convenience food due to variable eating habits is expected to have a significant impact on industry trends. Guar gum as an additive offers extended and stable shelf-life to processed food, which is projected to boost market growth during the forecast period. Pharmaceutical industry is expected to be one of the main factors driving overall market growth. Increasing geriatric population, prevalence of non-communicable diseases, chronic disorders are anticipated to fuel the growth of the pharmaceutical industry, thus resulting into increase in product consumption which increases the demand of gaur gum market during forecast period.
Global Guar Gum Market is segmented by Grade, by function, by Application and by Region. Guar Gum Market by grade segment is classified into pharmaceutical, industrial and Food. By function segment classified into stabilizer & emulsifier, thickening & gelling Agent, binder and friction reducer. By application segment is classified into oil & gas, food & beverage and Pharmaceuticals & Cosmetics. Geographically split into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Grade industrial segment is expected to grow at the highest XX% CAGR during the forecast period, due to Demand for industrial grade guar gum is increase rapidly. Since industrial grade guar gum is used in huge quantities in the hydraulic fracking process for extraction of shale oil and gas, demand is anticipated to rise in line with the shale oil and gas industry. Demand for food-grade guar gum is projected to surge in line with increasing food processing industry, due to changing lifestyle and eating habits. Drug formulators and their attempts to make available innovative solutions is projected to drive the pharmaceutical industry.
In function stabilizer & emulsifier segment is growing at the highest CAGR of XX % during the forecast period. Guar gum is extensively used as a stabilizer in ice cream to rise viscosity and shelf life by controlling ice crystallization at the time of storage. Emulsifier is used in personal care products to mix water with essential oils and also used in pharmaceutical application. To improve product structure it is used as thickener and gelling agent as jellies, desserts, and candies. It is helpful to increase the viscosity of water, which is used to extract oil and natural gas from shale rock formations. It can be used as a binder for fragmented tobacco fines to produce reconstituted tobacco sheets.
The oil & gas segment accounted for the XX % market share in the guar gum market. Owing to functional properties such as gelling, thickening, and friction reducing, industrial grade guar gum is mostly used in the oil & gas sector. Growing number of oil well drilling projects and rising shale gas production are driving the demand for guar gum in the oil & gas sector. Wide-ranging applications of guar gum among a widely held of sectors create a platform for newer developments of guar gum, which drives the rise in demand and market growth for guar gum-based products.
North America guar gum market is projected to grow at the highest CAGR of XX % during forecast period. The increasing oil & gas industry in countries and the maximum demand for processed and frozen foods are the major factors for the exponential growth of guar gum market in region. Also, efforts by the U.S. government to enrich exploration activities is anticipated to positively affect market growth. All other regions are following to contribute the growth in Guar Gum market.
The objective of the report is to present comprehensive analysis of Global Guar Gum Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report.
External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers. The report also helps in understanding Global Guar Gum Market dynamics, structure by analyzing the market segments, and project the Global Guar Gum Market size. Clear representation of competitive analysis of key players by Global Guar Gum Market Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Guar Gum Market make the report investor’s guide.
Scope of the Global Guar Gum Market
Global Guar Gum Market By Grade:
Global Guar Gum Market By Function:
• Stabilizer & Emulsifier
• Thickening & Gelling Agent
• Friction Reducer
Global Guar Gum Market By Application:
• Oil & Gas
• Food & Beverage
• Pharmaceuticals & Cosmetics
Global Guar Gum Market By Region:
• North America
• Asia Pacific
• Latin America
• The Middle East and Africa
Key Player analysed in the Global Guar Gum Market:
• Hindustan Gums & Chemicals Ltd.
• Vikas WSP Limited
• India Glycols Limited
• Rama Gum Industries Ltd.
• Dabur India Ltd.
• AEP Colloids
• Shree India Sino
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