Guar gum is an agricultural product derived from endosperm of guar beans. Guar gum is a hydrocolloid act as an emulsifier, stabilizer, thickener and coating agent in various applications. It is primarily cultivated in countries such as Pakistan, U.S., Australia and Africa. India is considered to be the leading contributor in terms of guar production across the globe. It has been estimated that India’s guar production contributes to 80% of the world’s total guar production. Guar gum is much economical as compared to other thickening & stabilizing agents such as corn starch, which is expected to drive the market growth during the forecast period.
Guar Gum Market: Segmentation
Guar gum is segmented on the basis of function which includes thickener, emulsifier, stabilizer, gelling agent, fat replacer, and coating material. Among all these segments guar gum as a thickener is expected to account for major market share. The growth of this segment is attributed to the wide application of guar gum as a thickening agent in various food industry and availability at low cost. Moreover, guar gum as an emulsifier is expected to show a substantial growth over the forecast period. In the U.S. guar gum is highly used as an emulsifier in various food application which is expected support the segment growth during the forecast period.
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The global guar gum market is also segmented on the basis of end-use which includes food, pharmaceutical, textile & paper, explosive, oil industry and others (pet food). Among all these segment explosive segment is expected to account for major market share followed by food segment. Guar gum enables to produce maximum viscosity in slurry explosive which is expected to drive the segment growth in the near future. Food segment is further segmented on the basis of application which includes bakery, confectionery, meat & poultry products, sauces & dressings, beverages, dairy & frozen products and others. Wide application of guar gum in food industry such as it enables to reduce crystal formation in frozen food, helps to maintain texture, uniform viscosity and color in dairy products as well act as a water binder in sauces & salad dressings and others is expected to support food segment growth over the forecast period.
Guar Gum Market: Region-wise Outlook
Geographically, guar gum market is segmented on the basis of region which includes North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Middle East & Africa and Japan. North America is expected to account for moderate growth in guar gum market in the near future. Due to sharp drop in price of crude oil in North America's oil and drilling sector has reduced off take of the guar gum. It started slowing down from December 2014, but fell drastically between January 2015 and March 2015, thus price of guar gum split and guar gum powder decreased drastically. In Asia Pacific, India is one of the largest producer. The country exports approximately 117, 000 tons of guar and its derivatives each year. Among this 33000 tons includes refined split guar gum, and 84000 tons includes treated and pulverized guar gum. India exports guar gum to countries such as Canada, Australia, Austria, Brazil, Germany, Japan, U.K, U.S. and others.
Guar Gum Market: Drivers
Increasing production of shale gas due rise in price of crude oil is expected to drive the market growth during the forecast period. Moreover, consumption of guar gum is enables in lowering blood glucose, as well as lowering insulin levels in human body, which is further expected support the market growth over the forecast period. In addition, guar gum is most economical ingredient which is used in the food industry as an emulsifier, stabilizer, thickener and coating agent, is expected to fuel the market demand in the near future.
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Guar Gum Market: Key Players
Some of the key players operating in market includes Cargill, Incorporated, Penford Corporation, E I Du Pont De Nemours and Company, Ashland Incorporated, Lucid Group and Forest Day Lawson among others.
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