Global Guar Gum Market Size, Share, Growth Analysis, By Function(Thickening, stabilizing and binding), By Application(Food and beverage, pharmaceutical and oil and gas)

Description

Global Guar Gum Market size was valued at USD 1.14 billion in 2021 and is poised to grow from USD 1.23 billion in 2022 to USD 2.24 billion by 2030, growing at a CAGR of 7.8% in the forecast period (2023-2030).

The global guar gum market is experiencing growth, driven by the increasing demand for natural and organic ingredients. Guar gum, a plant-based substitute for synthetic ingredients, is gaining popularity in various industries. The food sector leads the demand, accounting for over 70% of the global consumption, supported by the rising preference for processed and convenient food products. Additionally, the oil and gas industry is a significant consumer of guar gum, particularly in hydraulic fracturing, driven by the increasing demand for oil and gas resources.

Guar gum offers several health benefits, including improved digestive health, cholesterol reduction, and blood sugar control, leading to growing awareness and demand in the food and pharmaceutical industries. However, the market is highly consolidated, with a few major players dominating due to the substantial capital requirements and technical expertise needed for production. Moreover, the prices of guar gum are subject to fluctuations due to factors like weather conditions, production volumes, and industry demand, which poses a challenge, especially for smaller players in the market.

Segments covered in this report

Global Guar Gum Market is segmented on the basis of function, application and region. By function, the market is segmented into thickening, stabilizing and binding. By application, market is segmented into food and beverage, pharmaceutical and oil and gas. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Driver

The demand for guar gum is growing in the food industry due to its applications as a thickening, emulsifying, and stabilizing agent. The increasing global demand for processed and convenience food products is expected to further drive its use. Guar gum is also preferred in various industries for its natural origin and safety profile, contributing to the growing demand for natural ingredients.

Restraint

The guar gum market is influenced by the volatile prices of guar seeds, from which guar gum is derived. Fluctuations in guar seed prices result from factors like weather conditions, government policies, and supply chain disruptions, posing challenges for manufacturers in maintaining stable prices and affecting profit margins. Additionally, while guar gum is favored for its unique properties in various industries, there are other natural and synthetic substitutes like xanthan gum, locust bean gum, and carrageenan available in the market. These substitutes, offered at lower prices, may potentially limit the growth of the global guar gum market in the future.

Market Trends

Growing demand for organic and non-GMO guar gum due to the increasing preference for organic and natural food products among consumers. Increasing use in the pet food industry, driven by the trend of pet humanization and the need for high-quality and nutritious pet food products.Innovation and product development by manufacturers, leading to the creation of new and innovative products using guar gum in various industries, including low-fat and low-calorie food products and drug delivery systems in the pharmaceutical industry. These developments are expected to further boost the demand for guar gum in the future.

Product Code: SQMIG30H2081

Executive Summary

Market Overview
Wheel of Fortune

Research Methodology

Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations

Parent Market Analysis

Market Overview
Market Size
Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges

Key Market Insights

Technology Analysis
Pricing Analysis
Supply Chain Analysis
Value Chain Analysis
Ecosystem of the Market
IP Analysis
Trade Analysis
Startup Analysis
Raw Material Analysis
Innovation Matrix
Pipeline Product Analysis
Macroeconomic Indicators
Top Investment Analysis
Key Success Factor
Degree of Competition

Market Dynamics & Outlook

Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
Regulatory Landscape
Porters Analysis
- Competitive rivalry
- Threat of Substitute Products
- Bargaining Power of Buyers
- Threat of New Entrants
- Bargaining Power of Suppliers
Skyquest Special Insights on Future Disruptions
- Political Impact
- Economic Impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact

Global Guar Gum Market by Function

Market Overview
Thickening
stabilizing and binding

Global Guar Gum Market by Application

Market Overview
Food and beverage
pharmaceutical and oil and gas

Global Guar Gum Market Size by Region

Market Overview
North America
- USA
- Canada
Europe
- Germany
- Spain
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA

Competitive Landscape

Top 5 Player Comparison
Market Positioning of Key Players, 2021
Strategies Adopted by Key Market Players
Top Winning Strategies
- By Development
- By Company
- By Year
Recent Activities in the Market
Key Companies Market Share (%), 2021

Key Company Profiles

Kerry Group plc (Ireland)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Bettera Brands LLC (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
The Clorox Company (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Softigel (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Nature's Way Products, LLC (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Zanonvitamec (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
OLLY Public Benefit Corporation (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Herbaland Naturals Inc. (Canada)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Hero Nutritionals (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
SmartyPants Inc. (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
The Nature's Bounty Co. (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
IM Healthcare (India)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Nutra Solutions (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Makers Nutrition, LLC (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Vitakem Nutraceutical Inc. (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Bayer AG (Germany)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Ernest Jackson (UK)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Boscogen, Inc (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Santa Cruz Nutritionals Inc. (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments

Global Guar Gum Market Size, Share, Growth Analysis, By Function(Thickening, stabilizing and binding), By Application(Food and beverage, pharmaceutical and oil and gas) - Industry Forecast 2023-2030