Guar Gum Market Market by Region – Global Opportunities & Forecast, 2020-2027

 Guar Gum Market

The guar gum market is expected to register a growth of 7.3% in the forecast period of 2021 to 2028. The increasing consumption of ready to eat food items and the evolving need of guar gum in oil and gas industry have strengthened the market growth.

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Guar Gum Market Dynamics

The major factors steering the growth of the global guar gum market are the remarkable changes in the lifestyle of individuals and the increasing awareness regarding the health benefits of guar gum. Guar gum offers various nutritional benefits, such as enhanced toleration to glucose and a reduction in the level of low-density lipoprotein cholesterol. Besides this, the growing application of guar gum in oil and gas industry will proffer huge opportunities for the guar gum market growth.

Also, guar gum is used as a natural ingredient in several end-use industries, such as mining and explosives, cosmetics, pharmaceuticals, and food and beverage industry. The rising product penetration in the pharmaceutical sector will complement the global guar gum market growth.  However, the insufficient research and development activities in several countries, such as Pakistan and India and the unstable prices of guar gum and sugar seeds are certain factors anticipated to hinder the guar gum market size.

Application Segment Drivers

By application, the Oil & Gas application is likely to sustain its dominance by capturing the highest share in the market. This is because of the increase in shale gas in the North America region. Moreover, industrial-grade is largely used in several oil and gas industry such as oil well stimulation, fracturing, and oil recovery required to suffice multiple purposes such as improving reliance against temperature and decreasing water portability. Also, the guar gum market research projects that the Food & Beverage application will experience a significant rate during the forecast period. This is because of the increasing consumption of processed foods. Food & beverage application can be segmented into bakery & confectionery, dairy & frozen products, sauces & dressings, and beverages. The guar gum is increasingly used in bakery & confectionery products, such as jelly beans, confectionery jellies, pastes, gummy, and chewy confections.

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