Global Guar Gum Market: Overview
Guar gum is alternatively known as goma guar; it is a rich source of high-quality galactomannan polysaccharide. It is obtained from the guar seeds. The seeds of the plants are allowed to dry in the sun then they are separated and are processed into flour known as guar gum powder. Guar gum splits also have many uses in the different industries. However, guar gum is processed according to the requirement of the end product. Guar gum powder possesses more thickening capability than corn starch; thus, it is widely used as thickener, plasticizer, and binder. It holds the natural ability to bind with water molecules and is easily soluble in water.
Global Guar Gum Market: Growth Factors
Global guar gum market shows a significant growth in the near future owing to its widespread applications in various industries such as paper, food & beverage, oil & gas industry, pharmaceutical, mining, and textile. Oil & gas industry is the major consumer of the guar gum, which positively enhances the market growth. Changing lifestyle of consumers and rising consumption of convenience foods in developing economies which include Mexico, China, Brazil, and India is fuelling the growth of the market. Rapidly growing pharmaceutical industry and the emergence of technological advancements further propels the market growth in coming years. Conversely, the guar tree is a seasonal tree which does not match with the rising demand thus restraining the global guar gum market growth.
Global Guar Gum Market: Segmentation
The global guar gum market is segmented into application, grade, and function. Based on the application, the market is segregated into sauces & dressing, bakery, dairy & frozen product, confectionery, beverage, meat & poultry product, and others. The grade segment of the market is bifurcated into pharmacy grade, food grade, industrial grade, and another industrial grade. On the basis of function, the guar gum market is divided into fat replacer, thickener, coating material, stabilizer, gelling agent, and others.
Global Guar Gum Market: Regional Analysis
North America leads the market due to the presence of a large number of shale gas producers, which is expected to drive the global guar gum market. Europe contributed for the second largest market for guar gum owing to the presence of a large number of food additive manufacturers and favorable growth in the medical industry in countries such as U.K., Germany, and France. Asia Pacific is expected to be the fastest-growing region for guar gum due to the rapid industrialization and the developing food & beverage industry in developing economies such as India and China which opens up new gateways for the market growth. Major importing countries for guar gum include Japan, US, South Africa, Italy, Netherlands, and Denmark.
Global Guar Gum Market: Competitive Players
Major players dominating the global guar gum market include Beneo GmbH., Palsgaard, Taiyo Kagaku Co. Ltd., Royal DSM, Kerry Group Plc., FMC Corporation, Archer Daniels Midland Company, Ashland Inc., Danisco, and GUM Technology Corporation.
Global Guar Gum Market: Regional Segment Analysis
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