Global Guar Gum Powder Market To Be Driven By The Growing Demand From The Food And Beverage Sector In The Forecast Period Of 2023-2028
The new report by Expert Market Research titled, ‘Global Guar Gum Powder Market Size, Share, Analysis, Price, Report and Forecast 2023-2028’, gives an in-depth analysis of the global guar gum powder market, assessing the market based on its segments like grades, functions, end uses, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Guar Gum Powder Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): 863.7 million metric tons
- Forecast CAGR (2023-2028): 1 .8%
- Forecast Market Size (2026): 944.3 million metric tons
The growth of global guar gum powder market is driven by the growing demand from food and beverage sector. The increasing application in products such as beverages, confectionery, frozen and baked goods is expected to drive the market growth.
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Additionally, the rising expenditure on food and consumer goods owing to inflating disposable income is projected to aid the growth. Moreover, the increasing application of guar gum powder as a disintegrating agent and binder in pharmaceutical industry along with utilisation in personal care products and cosmetics such as soaps, shampoos, conditioner, creams, and lotions are projected to push the market growth over the forecast period.
Guar Gum Powder Industry Definition and Major Segments
Guar gum powder is a free flowing yellowish-white powder obtained from guar plant. It is majorly found in India and Pakistan. It is known for its excellent thickening properties and used as a gelling agent, hydrocolloid, flocculant, natural emulsifier, bonding agent, stabilizer, and fracturing agent. It finds widespread end use application in industries such as food, textile, cosmetics, paper, pharmaceutical, healthcare, explosives, mining, and oil drilling.
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On the basis of grade, the industry is segmented into:
The industry can be broadly categorised, on the basis of its function segment, into:
- Friction Reducing
Based on end-uses, the industry is divided into:
- Oil Drilling
- Food Industry
- Paper and Textile
The regional markets for guar gum powder include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Guar Gum Powder Market Trends
Regionally, North America is expected to have largest share in the global guar gum powder market. This can be attributed to growing application of guar gum powder in oil and gas sector to increase viscosity of water for oil and gas extraction.
Meanwhile, Europe is also expected for a significant share owing to widespread guar gum powder application in food and beverage sector. Growing demand for vegetarian thickening agent will likely aid the European market. However, the Asia Pacific is projected to witness fastest growth over the forecast period owing to growing population, rising expenditure over food products, and thriving food and beverage sector.
Key Market Players
The major players in the market are SNP, Inc., Agro Gums, and a few others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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