Guar gum is galactomannan polysaccharide extracted from guar beans that has excellent thickening and stabilizing properties, owing to which they are commonly used in food and oil & gas industries. A major factor driving growth of the global guar gum market is increasing demand for guar gum from oil & gas industry. Fluctuating prices of guar and availability of substitutes are major factors hampering growth of the global guar gum market.
On the basis of grade, the global market is segmented into food grade, industrial grade, and pharmaceutical grade. The industrial grade segment is expected to witness highest growth in terms of revenue during the forecast period.
On the basis of function, the global market is segmented into stabilizer & emulsifier, thickening & gelling agent, binder, friction reducer, and others. The stabilizer & emulsifier segment accounts for highest share in the global market.
On the basis of application, the global market is segmented into oil & gas, food & beverages, pharmaceuticals & cosmetics, and others. The oil & gas segment accounts for highest revenue share in the global market; whereas the food & beverages segment is expected to witness highest growth over the forecast period.
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On the basis of region, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market accounts for highest share in terms of revenue in the global market. The Asia Pacific guar gum market is expected to witness highest growth over the forecast period.
Key players in the global market are Cargill, E.I. Dupont De Nemours and Company, Ingredion Incorporated, Ashland Inc., Vikas WSP Ltd., Hindustan Gums and Chemical Limited, Dabur India Ltd., India Glycols Ltd. Neelkanth Polymers, Lucid Group, Global Gums and Chemicals Pvt. Ltd, Guangrao Liuhe Chemical Co., Ltd., Supreme Gums Private Limited, Ruchi Soya Industries Limited, Rama Gum Industries, and other prominent players.