Guar Gum Market to Grow at a CAGR 7.9% by 2022 - Analysis By Grade, Function, Application, Food and Beverage Application & Region - Research and Markets
DUBLIN, June 23, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Guar Gum Market - Global Forecast to 2022" report to their offering.
The guar gum market is projected to grow at a CAGR of 7.9%, in terms of value, from 2017 to reach a projected value of USD 1,115.8 Million by 2022. The multifunctional nature of guar gum, ease of incorporation in a wide range of applications, and increase in demand for guar gum from the oil & gas industry are the main factors driving the guar gum market. Increase in demand for convenience, dairy, and frozen foods across the globe, also fuels the demand for guar gum.
The global market has been segmented, by grade, into food, industrial, and pharmaceutical. Industrial grade guar gum has emerged as the highly consumed guar gum owing to its application in the oil & gas sector, coupled with other applications such as textile, paper, photography, tobacco, and printing industries. Food grade guar gum is the second highly consumed guar gum due to its extensive application in the food & beverage industry in products such as confectionery, and bakery & frozen food products.
Based on function, the market is segmented into thickening, gelling, friction reducing, binding and others (coagulating, flocculating & settling, hardening, and strengthening). Consumption of guar gum as a gelling agent is estimated to account for the largest market share in 2017. Guar gum as a gelling agent is a booming market due to its recent application in the oil & gas industry as an ingredient in the hydraulic fracking process. Apart from oil & drilling, guar gum is used as a gelling agent in pharmaceutical and personal care applications, such as dental impression materials, styling creams & gels, liquid soaps, and bath gels, which is further fueling the demand for guar gum as a gelling agent.
The global market has been segmented on the basis of application into oil & gas, food & beverages, mining & explosives, paper manufacturing, pharmaceuticals & cosmetics, and others (textile, animal feed, tobacco, ceramics, and synthetic resins). Guar gum has been gaining importance in the oil & drilling segment, especially in shale gas production, where guar gum is utilized as an ingredient in the fracking fluid. Food & beverages is the next largest application market for guar gum, under which there has been a high demand for food grade guar gum for bakery & confectionery products, dairy & frozen foods products, beverages, and sauces & dressings among others.
Companies Mentioned
- Altrafine Gums
- Ashland Inc.
- Cargill
- Dabur India Ltd
- E.I. Dupont De Nemours And Company
- Global Gums And Chemicals Pvt Ltd
- Guangrao Liuhe Chemical Co., Ltd.
- Hindustan Gums And Chemical Limited
- India Glycols Ltd
- Ingredion Incorporated
- Jai Bharat Gums And Chemicals Ltd
- Lucid Group
- Neelkanth Polymers
- Rama Gum Industries
- Ruchi Soya Industries Limited
- Shree Ram Industries
- Supreme Gums Private Limited
- Vikas Wsp Ltd.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Guar Gum Market, By Grade
7 Guar Gum Market, By Function
8 Guar Gum Market, By Application
9 Guar Gum Market, By Food & Beverage Application
10 Guar Gum Market, By Region
11 Regulations Governing the Guar Gum Market
12 Competitive Landscape
13 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/fjhb2s/guar_gum_market
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