Market Highlights:
Guar gum is a natural gum obtained from guar beans. It is witnessing an increasing application scope in various industries such as food & beverages, personal care, pharmaceuticals, mining, oil & gas, feed, explosives and others. The stabilizing and thickening properties of guar gum are the major determinants that are surging its demand in various industries. It is a gluten-free product that is gaining demand in food and beverages industry as a natural additive to replace gluten-based products.
Based on type, the global guar gum market has been segmented into food grade, industrial grade, and others. The industrial grade segment is anticipated to gain the largest revenue share in the global guar gum market due to its increasing application in vast industries such as oil & gas, mining, explosives, cosmetics, pharmaceuticals, and others. However, the food grade segment is expected to grow with the highest CAGR due to the surging demand of guar gum from food & beverage manufacturers, and emergence of convenient substitutes of guar gum in industrial applications.
Browse Complete Report @
https://www.marketresearchfuture.com/reports/guar-gum-market-7070
The Global Guar Gum Market has been segregated, by function, into thickening, gelling, binding, and others. Owing to the multifunctional properties of guar gum the thickening, gelling, and binding segments are all expected to gain significant share in the global market.
Based on application, the Global Guar Gum Market has been segmented into food & beverages, pharmaceuticals, personal care, oil & gas, and others. The food & beverages segment is further segregated into bakery & confectionary, dairy & frozen desserts, beverages, convenience food, and others. The oil & gas segment is expected to garner the largest market share during the review period due to the multifunctional properties of guar gum such as gelling, friction reducing, and thickening. The increasing shale gas production in the US and the rising number of oil well drilling projects are boosting the demand of guar gum in the oil & gas industry. However, the adoption of slick water as a fracturing material while drilling of oil wells is emerging as a major challenge in the market.
Regional Analysis:
The Global Guar Gum Market has been segmented by region, into North America, Europe, Asia-Pacific, and Rest of the World.
North America is projected to dominate the global guar gum market owing to the rising demand for convenience food in the region. Moreover, the surging demand for natural food and rising incidences of gluten intolerance are also driving the growth of guar gum market in North America.
Asia-Pacific guar gum market is anticipated to grow with the highest CAGR during the forecast period owing to the increasing production and consumption of guar gum in the region. In addition, the changing lifestyle of people, adoption of a healthy diet, and growing preference towards convenience foods is propelling the food and beverage manufacturers in Asia-Pacific to guar gum as a food additive.
Segmentation:
The Global Guar Gum Market has been segmented on the basis of type, function, application, and region.
The Global Guar Gum Market has been divided, by type, into food grade, industrial grade, and others.
Based on function, the Global Guar Gum Market has been segregated into thickening, gelling, binding, and others.
By application, the Global Guar Gum Market is bifurcated into food & beverages, pharmaceuticals, personal care, oil & gas, and others. The food & beverages segment is further segregated into bakery & confectionary, dairy & frozen desserts, beverages, convenience food, and others.
Key Players:
Some of the key players in the global guar gum market are Hindustan Gums & Chemicals Ltd. (India), DuPont (US), Dabur India Ltd (India), Lucid Colloids Ltd. (India), Supreme Gums Pvt. Ltd. (India), India Glycols Limited (India), Vikas WSP (India), Rama Gum Industries Limited (India), Altrafine Gums (India), Cargill, Incorporated (US), Jai Bharat Gum & Chemicals LTD (India), Global Gums & Chemicals (Pakistan), Ashland (US), Ingredion Inc. (US), and Guangrao Liuhe Chemical Co., Ltd. (China).
Request a Sample Report @
https://www.marketresearchfuture.com/sample_request/7070
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
About Market Research Future
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Contact
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune – 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com
