ID: MRFR/F-B & N/5605-HCR | February 2021 | Region: Global | 90 pages
Guar gum is a plant derivative that is used as a natural thickening and stabilizing agent in food industries, the animal feed manufacturing industry, and other industrial applications. The Guar seeds are collected from Guar beans then are crushed dehusked and then undergo several other processes according to the end-user application. They are often sold in free-flowing powder form. The demand for guar gum remains higher in potential end-user industries as they are considered as cost-effective as they are nearly eight times more efficient as a thickening agent when compared to other agents like corn starch. Therefore, only a small amount of the product is required for a huge quantity of solution.
The Guar gums are used to thicken the slurry mixture that is used to carry the proppants in the oil and gas industry. The fluid is expected to change into gel form to carry out the processes. On the other hand, Guar Gum is used to produce egg-free ice cream, veganism is spreading across the globe and people prefer dairy-free food. This factor has therefore propelled the guar gum market demand across the developed countries. Therefore, increasing demand across the oil and gas industry, food and beverages, and other convenience food industries are impacting the overall growth of the Guar gum market across the globe.
COVID 19 Analysis:
COVID-19 and stringent regulations across the globe have reduced the business processes and brought in several operational problems to varied end-user industries. Therefore, food quality and safety issues have arisen during the pandemic and stirred up the demand for the food and beverage industry. Since Guar gum is used as a stabilizer, food additive, thickener, and binder in the processing of food, Guar gum has been gaining momentum despite COVID effects.
Similarly, Guar gum has been intensively utilized in drug manufacturing, cosmetic industries, and oil and gas industries, where the drug manufacturing industries were still operating during the pandemic due to increasing demand. Therefore, the overall growth of the Guar gum market remained unaffected by the adverse effects created due to the pandemic.
The increasing demand of the potential end-user industries such as oil and gas industries, processing food, industrial applications, and convenience food industries is fuelling the overall growth of the Guar gum market. With the increasing inclination toward convenience food and processed food due to the changing culture and preferences, the Guar Gum market growth is expected to increase at a faster pace.
The potential characteristics of Guar Gum like gelling, friction reducer, thickener, and significant others propel the industries and food industry to adopt Guar Gum for various applications. For instance, Guar gum is utilized as a powdered product for certain industrial applications as a stabilizer and emulsifier. Moreover, they are non-toxic, and they are lower in calories, therefore they can be used in low-calorie food preparation as well. As they are rich in fibers, they are highly preferred in the food industry.
The increasing utilization of Guar Gum in the oil and gas industry due to the increasing energy demand is expected to propel the overall growth of the Guar gum market during the forecast period. Guar gums are used in green corrosion inhibitors, drilling fluid formulations, and dispersants across the oil and gas industry. Similarly, industrial applications like hydraulic fracturing, oil recovery, and oil stimulations are some crucial processes that are carried out with the help of Guar Gums. Such factors are expected to propel the overall growth of the Guar gum market during the forecast period.
The increasing demand for processed and packaged food and bakeries are also creating a huge impact on the growth of the Guar gum market. For instance, Guar Gums are utilized as a thickening agent for processing milk, yogurt, kefir, and liquid cheeses. Moreover, they are intensively utilized in improving the texture of ice creams. Ice Creams being prominent desserts across the world and intensive utilization of guar gums in their processing are expected to boost the overall growth of the Guar gums industry during the forecast period.
Developing countries like India and Pakistan have been growing in R&D activities related to the market and have been falling short in some aspects which are considered as the major restraints of Guar Gum market growth. Similarly, the fluctuation in the price of Guar gum seeds and the derived products are also expected to hamper the overall growth of the market.
The potential end-user industries are utilizing Xanthum gum in the place of Guar Gum which is considered as the major restraint of Guar Gum market growth.
The presence of effective alternatives of Guar Gum which are also gluten-free and the changing preferences of end-user industries are also affecting the overall growth of Guar Gum industries.
The decreasing oil value in the developed countries and the emerging technologies for energy generation combined with the utilization of technological methods that are capable of obtaining energy from renewable energy resources are expected to hinder the overall growth of the Guar gum market. The capital-intensive oil exploration activities and other factors also affected the growth of the oil and gas industry, which thereby affected the overall growth of the oil and gas industry. Such factors are expected to hinder the overall growth of the Guar gum market during the forecast period.
The presence of active market players in the developed countries and the increasing demand for convenience food is expected to boost the overall growth of the Guar gum market during the forecast period. The Guar gums exhibit several favorable characteristics that make to act as an agent for gelling, binding, thickening, and significant others propel several industries to adopt them for the crucial industrial processes.
The presence of several end-user industries such as food and beverages, pharmaceuticals, personal care, oil and gas industries were growing in demand in recent years, thereby presenting lucrative opportunities for the overall growth of the market. The presence of an established oil and gas industry and the increasing oil exploration activities across the globe are presenting lucrative opportunities for guar gum market growth. However, the presence of effective alternatives and thickening agents in the food industry and increasing utilization of slickwater in oil drilling processes are expected to hinder the overall growth of the Guar gum market during the forecast period.
The Guar Gum market value is due to the increasing scope in several industries like Oil and gas, pharmaceuticals, feed and explosives, and significant others. The increasing utilization in the food industries, especially bakeries is expected to improve the overall growth of the market during the forecast period. The health benefits like the capacity to reduce the serum cholesterol and help in lowering the blood glucose levels and similar others are promoting the Guar gum market growth across the globe. They belong to hydrocolloids that make in forming thicker pastes without becoming gel. Such characteristics are highly beneficial in making sauces and emulsions. Hence, they are utilized in making curds, yogurt, sauces, soups, and frozen desserts. The inclination towards processed food and changing preferences towards food experiments across the developed countries are expected to boost the overall growth of the Guar gum market during the forecast period.
Based on Type
Based on Function
Based on Application
Currently, North America is expected to witness higher market value in the Guar gum market, due to the increasing consumption of processed food. The increasing demand and growth of the oil and gas industry across the region are considered as the major growth-stimulating factor for the guar gum market. Moreover, the region is gaining financial support for the development of oil and gas exploration activities. The development in the oil and gas industry and increasing utilization of advanced technologies are expected to boost the overall growth of the Guar gum market across North America.
On the other hand, due to the increasing demand and growth in the food industry, the Asia-pacific region is also expected to witness decent growth in the Guar gum market. The convenience packaging methods and convenient packaging materials which are designed especially for food are further propelling the food industry and thereby impacting the overall growth of the Guar gum market. Industrialization and rapid urbanization combined with experimental food habits are some of the key factors that are promoting the overall growth of the Guar gum market.
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