The Global Guar Gum Market Is Witnessing High Growth Owing To the High Production and Application of Guar Seeds in Several Sectors

Guar Gum Market
Guar Gum Market

Market Overview:

Guar gum is a polysaccharide that is a good thickener for foods. It is extracted from the guar bean plant and is used to improve the texture of cold and hot dishes. In addition, it is also used to add extra creaminess and stability to foods. Guar gum is a non-ionic, biodegradable, and uncharged complexing agent, and has a wide range of pH stability. The hydration rate for guar gum varies greatly depending on the solute concentration, pH, and temperature. Typically, the fastest hydration rate is at pH 8-9. At higher pH, the hydration rate decreases. However, the final viscosity of guar gum is not dependent on the pH.

Key Market Drivers:

The increasing popularity of guar gum among consumers in the world is expected to augment the growth of the global Guar Gum Market.

For instance, in August 2021, The National Commodity and Derivatives Exchange (NCDEX) introduced future contracts on NCDEX GUAREX, which is a price-based index that will be tracking the price movements in the contracts of its underlying such as Guar Gum Refined Splits and Guar Seed based on real-time. Guar gum is widely used in food processing and is found in many processed foods.

It can be added to soups, sauces, and yogurts. Because of its thickening properties, it is often used in the food industry to bind and hold together ground meat. Additionally, guar gum can be used as a stabilizer in many industrial applications. Some of the most common uses of guar gum include thickening frozen foods and helping prevent the formation of ice crystals. Moreover, the usage of guar gum in several sectors such as pharmaceutical and pet foods is estimated to enhance the growth of the global guar gum for market.

Competitive Landscape:

Major players operating in the global Guar Gum Market include Ashland Inc., Vikas WSP Limited, Lucid Group, TIC Gums, Inc., and Penford Corp.

Covid-19 Impact Analysis:

During the COVID-19 pandemic, the global consumer sector witnessed several challenges, which also includes the global Guar Gum Market. Lockdown measures in several nations along with transport restrictions affected the demand and supply pattern of the market.

Key Takeaways:

North America is expected to dominate the growth of the global guar gum for market, owing to the high application of guar gum in the food industry as an additive. It is also used in the oil industry as a fracturing agent. For instance, according to the US Oil & Gas Association, there are currently around 9000 independent oil companies in the United States.

The Asia Pacific is estimated to witness high growth in the global Guar Gum Market, owing to the increasing production of guar seeds in the region. For instance, in March 2019, VIKAS WSP Ltd received approval for the export of the company’s DP guar gum products for applications as a fertilizer stabilizer.

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