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The global guar gum market is driven by its rising demand in various sectors such as food, pharmaceuticals, oil and gas, and cosmetics. Guar gum is obtained from the guar seeds. Guar gum is used as an emulsifier and firming agent in foods such as baked goods & baking mixes, cheeses, breakfast cereals, jams, jellies, soups and sauces. It is utilized as a stabilizer in ice creams and cheeses. It is used in dairy products to thicken the milk, yogurt and semisolid cheeses. Guar gum reduces crystal formation in frozen foods.
The increasing popularity of guar gum is also attributed to its non-toxic and biodegradable nature. Guar gum is cost-effective as obtained from renewable natural resources. Guar gum, as water-soluble fiber, used as a filler which slows the digestion, thereby lowering the glycaemic index. Guar gum is used in many pharmaceutical applications owing to its ability to form viscous solutions or gels. It is also used in promoting regular bowel moments. Its derivatives are widely used as a binder in tablets. Guar gum is also widely used in pet foods.
Key Market Driver -
Rising Demand for Convenience Foods
Key Market Restraint -
Fluctuating Prices of Guar Seeds
The rising popularity of convenience foods primarily drives the global guar gum market. Guar gum is widely used in foods such as bakery products, soups, and gravies. The increased demand for processed foods across the world is fuelling the growth of the global guar gum market.
The fluctuation in prices of guar seeds is expected to act as a significant restraint for the global guar gum market. India is the leading producer and exporter of guar gum. Water scarcity in guar growing regions of India is expected to hamper the production of guar gum. For instance, in 2018, due to water scarcity in Rajasthan and Haryana, the guar growing regions in India, prices of guar seeds and guar gum raised by 10.5% and 13%, respectively.
The key players operating in the global guar gum market are, India Glycols Ltd., Vikas WSP, Rama Gum Industries, Dabur India Ltd, Ingredion, Inc., Hindustan Gums and Chemicals Ltd., TIC Gums, Inc., Nutriroma, AEP Colloids and Shree India Sino Gums Pvt Ltd.
The global market for guar gum is segmented based on type, application, and geography. Food-grade guar gum is expected to witness promising growth because of its multi-functional applications in the food processing sector. Bakery and confectionary, among other application segments, is expected to witness substantial growth. Guar gum is used to increase the dough yield in the baking process. It reduces moisture & retards fat penetration in baked food, thereby increasing its shelf life. The rising demand for guar gum in the oil and gas sector is also expected to fuel the growth of the market.
North America is expected to witness the robust growth of the guar gum market owing to the rising demand for guar gum in the oil and gas sector in the U.S. and Canada. The demand for guar gum for hydraulic fracturing of subsurface shale in the oil and gas industry is driving the growth of the market in the region. The U.S. is the largest guar gum importing country. According to the Agricultural & Processed Food Products Export Development Authority, India (APEDA), the U.S. was the largest importer of guar gum from India in 2018. The import from the U.S. accounts for 64% share among the top 10 guar gum importing countries.
Europe is expected to witness prominent growth in the market. The demand for low-fat products without trans-fats and other unsaturated fats is increasing in the European market. The guar gum is increasingly utilized as fat-substitutes for a range of processed food beverages in Europe to improve their texture and performance.
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The Asia Pacific is expected to witness the strong growth of the guar gum market owing to the development of food, beverage, and pharmaceutical industry. India is the largest producer of guar seeds and accounts for around 80% of the total guar produced across the globe. The favourable government initiatives to support the export of guar gum is driving the growth of the market in the region. For instance, in October 2018, Agro-centric National Commodities and Derivatives Exchange (NCDEX), India, launched options trading for guar gum.
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