The global guar gum market is anticipated to reach a value of USD 1,234.6 million in 2024. The market is anticpated to advance steadily over the forecast period, with a predicted CAGR of 4.8%. By 2034, market value is expected to climb up to USD 1,963.93 million.
As per the latest analysis, the food and beverages industry will continue to remain leading consumer of guar gum during the forecast period. This is due to growing adoption of guar gum as a natural stabilizer and thickener in several food and beverage products.
Attributes | Key Insights |
---|---|
Estimated Global Guar Gum Market Value (2024E) | USD 1,234.6 million |
Projected Revenue for Guar Gum Industry (2034F) | USD 1,963.93 million |
Value-based CAGR (2024 to 2034) | 4.8% |
Top 3 Countries’ Value (2034) | USD 663.8 million |
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Market Statistics | Details |
---|---|
2022 Outlook (P) | 2.4% |
2022 Outlook (A) | 2.2% |
Jan to Jun (H1), 2023 Projected (P) | 3.9% |
Jan to Jun (H1), 2023 Outlook (A) | 4.0% |
Jul to Dec (H2), 2023 Outlook (P) | 3.8% |
Jul to Dec (H2), 2023 Projected (A) | 3.9% |
Jan to Jun (H1), 2024 Projected (P) | 4.0% |
Global sales of guar gum products increased at a compound annual growth rate (CAGR) of 2.8% from 2019 to 2023. At the end of 2023, the value of the market has slingshotted to USD 1200.7 million.
Over the next ten years, the guar gum market is expected to book a CAGR of 4.8%. The value is supposed to reach USD 1,963.9 million by 2034, driven by factors like the use of the product as a natural thickener and stabilizer as well as the application of the product in oil drilling fluids, textiles, and much more.
The guar gum market exhibits varying growth rates across different countries, with India leading from the forefront. The guar gum market in India is set to register a CAGR of 5.4% during the forecast period.
Countries | Expected Guar Gum Market CAGR (2024 to 2034) |
---|---|
United States | 4.3% |
United Kingdom | 3.5% |
Germany | 3.7% |
India | 5.4% |
France | 4.1% |
The table below shows the expected valuations of the leading nations. India and the United States are anticipated to remain leading consumers of guar gum products, with expected valuations of USD 893.5 million and USD 275.4 million, respectively, in 2034.
Countries | Projected Guar Gum Market Valuation (2034) |
---|---|
United States | USD 275.4 million |
United Kingdom | USD 30.6 million |
Germany | USD 42.6 million |
China | USD 89.3 million |
India | USD 893.5 million |
Japan | USD 51.4 million |
As per the latest analysis, demand for guar gum products in the United States is projected to increase at 4.3% CAGR during the forecast period. By 2034, the United States guar gum market size is set to reach USD 275.4 million, driven by factors like:
Guar gum is a vital additive in the food and beverage sector. Its thickening, stabilizing, and emulsifying properties make it indispensable in a wide range of food products, including sauces, dressings, baked goods, dairy products, and beverages.
As consumer preferences continue to shift towards natural and clean-label ingredients, guar gum's status as a plant-based, gluten-free, and versatile additive is further fueling its demand in the food industry. This will likely improve the United States’ guar gum market share.
Growing usage of guar gum in fracking and hydraulic fracturing across the oil and gas industry is expected to fuel sales. By maintaining the integrity of fractures and transporting proppants through the drilling process, guar gum is a viscosifier that increases the efficacy and efficiency of hydraulic fracturing operations.
The rising popularity of hydraulic fracturing, particularly in regions like the Permian Basin and the Eagle Ford Shale, is expected to propel growth of the guar gum market. Similarly, widening applications of guar gum in the thriving pharmaceutical sector will benefit the market.
China guar gum market is poised to expand at a CAGR throughout the assessment period. By 2034, guar gum sales in China will likely total USD 89.3 million. This can be attributed to rising usage of guar gum in the thriving food and beverage industry.
Germany guar gum industry is projected to advance at 3.7% CAGR during the forecast period, totaling a valuation of USD 42.6 million by 2034. It will likely hold a prominent share of the Europe guar gum market, driven by rising usage of guar gum in the thriving pharmaceutical industry.
The table below offers deeper insights into leading segments in the guar gum market. Based on application, the food and beverage segment is expected to lead the industry, creating lucrative revenue-generation opportunities for guar gum manufacturers. By primary function, the thickener and stabilizer segment will likely hold a dominant market share through 2034.
Top Segment | Estimated Market Share (2024) |
---|---|
Food Grade Guar Gum (Product Type) | 49.7% |
Food & Beverages (Application) | 49.7% |
Thickener and Stabilizer (Primary Function) | 64.1% |
As per the latest analysis, the food and beverage industry is expected to dominate the guar gum market throughout the forecast period. This is due to rising usage of food grade guar gum as a natural thickener, emulsifier, and stabilizer in a wide variety of food products, such as yogurt, ice cream, salad dressings, and baked goods.
Based on primary function, the thickener and stabilizer segment is expected to retain its dominance in the global guar gum industry during the assessment period. It will likely hold a prominent market share of 64.1% by 2024.
Manufacturers are pursuing strategic alliances and strategic partnerships with other manufacturers to enhance productivity and meet the demand from diverse end-use industries. The industry is defined by a high level of capital expenditure and a complicated manufacturing process. Cost-effective manufacturing procedures can help establish global market sustainability.
Profiles of Prominent Companies in the Guar Gum Market:
Jai Bharat Gum & Chemicals Limited: It is one of the prominent exporters of guar products in India. The company provides high quality products to its customers. It has two manufacturing facilities, including the JAI BHARAT POLYMERS LLP for manufacturing guar gum powder of food grade, oil drilling grade, and industrial grade and the JAI BHARAT GUM CHEMICALS LTD for guar dehusked splits, guar meal, and roasted guar meal.
Vikas WSP Limited: VIKAS is India’s largest exporter and world’s leading guar gum powder manufacturer. It offers tailored guar gum products for various applications, including pharmaceuticals, food, eCigratte manufacturing, oil and gas hydro fracturing, paper making, etc.
The global guar gum industry is estimated to be valued at USD 1,234.6 million in 2024.
Demand for guar gum worldwide is set to increase at around 4.8% CAGR through 2034.
The global guar gum market size is projected to reach USD 1,963.93 million in 2034.
East Asia is expected to have a market share of 49.9% in 2024.
Jai Bharat Gum & Chemicals Limited, Cargill Inc., and Vikas WSP, among others.
Top countries driving the guar gum demand are India and Japan.
India is a key exporter of guar gum globally.
Yes, guar gum is becoming a lucrative business.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand Side Trends 1.3. Supply Side Trends 1.4. Technology Roadmap 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition 3. Market Background 3.1. Drivers 3.1.1. Supply Side Drivers 3.1.2. Demand Side drivers 3.1.3. Economic Side Drivers 3.2. Restraints 3.3. Opportunity 3.4. Market trends By Region 3.5. Forecast Factors - Relevance & Impact 3.6. Regulations and Policies 4. Global Market- Pricing Analysis 4.1. Price Point Assessment by Region 4.1.1. Manufacturer Level Pricing 4.1.2. Distributor Level Pricing 4.2. Price Point Assessment By Product Type 4.3. Price Forecast till 2034 5. Value Chain Analysis 5.1. Operating margins at each node of supply chain 5.2. List of Active Market Participants 6. Global Market Size in Value (US$ million) and Volume (Unit) Analysis 2019 to 2023 and Forecast, 2024 to 2034 6.1. Historical Market Size in Value (US$ million) and Volume (Unit) Analysis, 2019 to 2023 6.2. Current and Future Market Size in Value (US$ million) and Volume (Unit) Analysis, 2024 to 2034 6.2.1. Y-o-Y Growth Trend Analysis 6.2.2. Absolute $ Opportunity Analysis 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product Type 7.1. Introduction / Key Findings 7.2. Historical Market Size in Value (US$ million) and Volume (Unit) Analysis By Product Type, 2019 to 2023 7.3. Current and Future Market Size in Value (US$ million) and Volume (Unit) Analysis and Forecast By Product Type, 2024 to 2034 7.3.1. Food Grade 7.3.2. Fast Hydrated Gum Oil Drilling Grade 7.3.3. Industrial Grade 7.4. Market Attractiveness Analysis By Product Type 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End-use Industry 8.1. Introduction / Key Findings 8.2. Historical Market Size in Value (US$ million) and Volume (Unit) Analysis By End-use Industry, 2019 to 2023 8.3. Current and Future Market Size in Value (US$ million) and Volume (Unit) Analysis and Forecast By End-use Industry, 2024 to 2034 8.3.1. Food and Beverages 8.3.2. Fracking 8.3.3. Textiles 8.3.4. Pharmaceuticals 8.3.5. Other End-use Industries 8.4. Market Attractiveness Analysis By End-use Industry 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Primary Function 9.1. Introduction / Key Findings 9.2. Historical Market Size in Value (US$ million) and Volume (Unit) Analysis By Primary Function, 2019 to 2023 9.3. Current and Future Market Size in Value (US$ million) and Volume (Unit) Analysis and Forecast By End-use Industry, 2024 to 2034 9.3.1. Thickener and Stabilizer 9.3.2. Binding Agent 9.3.3. Other Functional Properties 9.4. Market Attractiveness Analysis By End-use Industry 10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Region 10.1. Introduction 10.2. Historical Market Size in Value (US$ million) and Volume (Unit) Analysis By Region, 2019 to 2023 10.3. Current Market Size in Value (US$ million) and Volume (Unit) Analysis and Forecast By Region, 2024 to 2034 10.3.1. North America 10.3.2. Latin America 10.3.3. Europe 10.3.4. East Asia 10.3.5. South Asia 10.3.6. Oceania 10.3.7. Middle East & Africa 10.4. Market Attractiveness Analysis By Region 11. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034 11.1. Introduction 11.2. Historical Market Size (US$ million) and Volume(Unit) Trend Analysis By Market Taxonomy, 2019 to 2023 11.3. Market Size (US$ million) and Volume(Unit) Forecast By Market Taxonomy, 2024 to 2034 11.3.1. By Country 11.3.1.1. United States 11.3.1.2. Canada 11.3.2. By Product Type 11.3.3. By End-use Industry 11.3.4. By Primary Function 11.4. Market Attractiveness Analysis 11.4.1. By Country 11.4.2. By Product Type 11.4.3. By End-use Industry 11.4.4. By Primary Function 11.5. Key takeaways 12. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034 12.1. Introduction 12.2. Historical Market Size (US$ million) and Volume(Unit) Trend Analysis By Market Taxonomy, 2019 to 2023 12.3. Market Size (US$ million) and Volume (Unit) Forecast By Market Taxonomy, 2024 to 2034 12.3.1. By Country 12.3.1.1. Brazil 12.3.1.2. Mexico 12.3.1.3. Argentina 12.3.1.4. Rest of Latin America 12.3.2. By Product Type 12.3.3. By End-use Industry 12.3.4. By Primary Function 12.4. Market Attractiveness Analysis 12.4.1. By Country 12.4.2. By Product Type 12.4.3. By End-use Industry 12.4.4. By Primary Function 12.5. Key takeaways 13. Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034 13.1. Introduction 13.2. Historical Market Size (US$ million) and Volume(Unit) Trend Analysis By Market Taxonomy, 2019 to 2023 13.3. Market Size (US$ million) and Volume(Unit) Forecast By Market Taxonomy, 2024 to 2034 13.3.1. By Country 13.3.1.1. Germany 13.3.1.2. United Kingdom 13.3.1.3. France 13.3.1.4. Italy 13.3.1.5. Spain 13.3.1.6. BENELUX 13.3.1.7. Nordic 13.3.1.8. Russia 13.3.1.9. Poland 13.3.1.10. Rest of Europe 13.3.2. By Product Type 13.3.3. By End-use Industry 13.3.4. By Primary Function 13.4. Market Attractiveness Analysis 13.4.1. By Country 13.4.2. By Product Type 13.4.3. By End-use Industry 13.4.4. By Primary Function 13.5. Key takeaways 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034 14.1. Introduction 14.2. Historical Market Size (US$ million) and Volume(Unit) Trend Analysis By Market Taxonomy, 2019 to 2023 14.3. Market Size (US$ million) and Volume(Unit) Forecast By Market Taxonomy, 2024 to 2034 14.3.1. By Country 14.3.1.1. China 14.3.1.2. Japan 14.3.1.3. South Korea 14.3.2. By Product Type 14.3.3. By End-use Industry 14.3.4. By Primary Function 14.4. Market Attractiveness Analysis 14.4.1. By Country 14.4.2. By Product Type 14.4.3. By End-use Industry 14.4.4. By Primary Function 14.5. Key takeaways 15. South Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034 15.1. Introduction 15.2. Historical Market Size (US$ million) and Volume(Unit) Trend Analysis By Market Taxonomy, 2019 to 2023 15.3. Market Size (US$ million) and Volume(Unit) Forecast By Market Taxonomy, 2024 to 2034 15.3.1. By Country 15.3.1.1. India 15.3.1.2. Thailand 15.3.1.3. Malaysia 15.3.1.4. Indonesia 15.3.1.5. Vietnam 15.3.1.6. Philippines 15.3.1.7. Singapore 15.3.1.8. Rest of South Asia 15.3.2. By Product Type 15.3.3. By End-use Industry 15.3.4. By Primary Function 15.4. Market Attractiveness Analysis 15.4.1. By Country 15.4.2. By Product Type 15.4.3. By End-use Industry 15.4.4. By Primary Function 15.5. Key takeaways 16. Oceania Market Analysis 2019 to 2023 and Forecast 2024 to 2034 16.1. Introduction 16.2. Historical Market Size (US$ million) and Volume(Unit) Trend Analysis By Market Taxonomy, 2019 to 2023 16.3. Market Size (US$ million) and Volume(Unit) Forecast By Market Taxonomy, 2024 to 2034 16.3.1. By Country 16.3.1.1. Australia 16.3.1.2. New Zealand 16.3.2. By Product Type 16.3.3. By End-use Industry 16.3.4. By Primary Function 16.4. Market Attractiveness Analysis 16.4.1. By Country 16.4.2. By Product Type 16.4.3. By End-use Industry 16.4.4. By Primary Function 16.5. Key takeaways 17. Middle East & Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034 17.1. Introduction 17.2. Historical Market Size (US$ million) and Volume(Unit) Trend Analysis By Market Taxonomy, 2019 to 2023 17.3. Market Size (US$ million) and Volume(Unit) Forecast By Market Taxonomy, 2024 to 2034 17.3.1. By Country 17.3.1.1. GCC Countries 17.3.1.2. Turkiye 17.3.1.3. Egypt 17.3.1.4. South Africa 17.3.1.5. Rest of Middle East & Africa 17.3.2. By Product Type 17.3.3. By End-use Industry 17.3.4. By Primary Function 17.4. Market Attractiveness Analysis 17.4.1. By Country 17.4.2. By Product Type 17.4.3. By End-use Industry 17.4.4. By Primary Function 17.5. Key takeaways 18. Country-level Market Analysis, 2024 18.1. United States Market Analysis 18.1.1. By Product Type 18.1.2. By End-use Industry 18.1.3. By Primary Function 18.2. Canada Market Analysis 18.2.1. By Product Type 18.2.2. By End-use Industry 18.2.3. By Primary Function 18.3. Brazil Market Analysis 18.3.1. By Product Type 18.3.2. By End-use Industry 18.3.3. By Primary Function 18.4. Mexico Market Analysis 18.4.1. By Product Type 18.4.2. By End-use Industry 18.4.3. By Primary Function 18.5. Argentina Market Analysis 18.5.1. By Product Type 18.5.2. By End-use Industry 18.5.3. By Primary Function 18.6. Germany Market Analysis 18.6.1. By Product Type 18.6.2. By End-use Industry 18.6.3. By Primary Function 18.7. United Kingdom Market Analysis 18.7.1. By Product Type 18.7.2. By End-use Industry 18.7.3. By Primary Function 18.8. France Market Analysis 18.8.1. By Product Type 18.8.2. By End-use Industry 18.8.3. By Primary Function 18.9. Italy Market Analysis 18.9.1. By Product Type 18.9.2. By End-use Industry 18.9.3. By Primary Function 18.10. Spain Market Analysis 18.10.1. By Product Type 18.10.2. By End-use Industry 18.10.3. By Primary Function 18.11. BENELUX Market Analysis 18.11.1. By Product Type 18.11.2. By End-use Industry 18.11.3. By Primary Function 18.12. Nordic Market Analysis 18.12.1. By Product Type 18.12.2. By End-use Industry 18.12.3. By Primary Function 18.13. Russia Region Market Analysis 18.13.1. By Product Type 18.13.2. By End-use Industry 18.13.3. By Primary Function 18.14. Poland Market Analysis 18.14.1. By Product Type 18.14.2. By End-use Industry 18.14.3. By Primary Function 18.15. China Market Analysis 18.15.1. By Product Type 18.15.2. By End-use Industry 18.15.3. By Primary Function 18.16. Japan Market Analysis 18.16.1. By Product Type 18.16.2. By End-use Industry 18.16.3. By Primary Function 18.17. South Korea Market Analysis 18.17.1. By Product Type 18.17.2. By End-use Industry 18.17.3. By Primary Function 18.18. India Market Analysis 18.18.1. By Product Type 18.18.2. By End-use Industry 18.18.3. By Primary Function 18.19. Thailand Market Analysis 18.19.1. By Product Type 18.19.2. By End-use Industry 18.19.3. By Primary Function 18.20. Malaysia Market Analysis 18.20.1. By Product Type 18.20.2. By End-use Industry 18.20.3. By Primary Function 18.21. Indonesia Market Analysis 18.21.1. By Product Type 18.21.2. By End-use Industry 18.21.3. By Primary Function 18.22. Vietnam Market Analysis 18.22.1. By Product Type 18.22.2. By End-use Industry 18.22.3. By Primary Function 18.23. Philippines Market Analysis 18.23.1. By Product Type 18.23.2. By End-use Industry 18.23.3. By Primary Function 18.24. Singapore Market Analysis 18.24.1. By Product Type 18.24.2. By End-use Industry 18.24.3. By Primary Function 18.25. Australia Market Analysis 18.25.1. By Product Type 18.25.2. By End-use Industry 18.25.3. By Primary Function 18.26. New Zealand Market Analysis 18.26.1. By Product Type 18.26.2. By End-use Industry 18.26.3. By Primary Function 18.27. GCC Countries Market Analysis 18.27.1. By Product Type 18.27.2. By End-use Industry 18.27.3. By Primary Function 18.28. Turkiye Market Analysis 18.28.1. By Product Type 18.28.2. By End-use Industry 18.28.3. By Primary Function 18.29. Egypt Market Analysis 18.29.1. By Product Type 18.29.2. By End-use Industry 18.29.3. By Primary Function 18.30. South Africa Market Analysis 18.30.1. By Product Type 18.30.2. By End-use Industry 18.30.3. By Primary Function 19. Market Structure Analysis 19.1. Global Market Competition - a Dashboard View 19.2. Industry Structure Analysis 19.2.1. % tier 1 market players 19.2.2. % tier 2 market players 19.2.3. % tier 3 market players 19.3. Global Market Company Share Analysis 19.3.1. For Tier 1 Market Players, 2023 19.3.2. Company Market Share Analysis of Top 5 Players, By Region 19.4. Key Participants Market Presence (Intensity Mapping) by Region 20. Competition Analysis 20.1. Competition Dashboard 20.2. Competition Benchmarking 20.3. Competition Deep Dive 20.3.1. Jai Bharat Gum & Chemicals Limited 20.3.1.1. Product Portfolio 20.3.1.2. Product Claim 20.3.1.3. Revenue by Market Segments (Product Type/Primary Function/End-use Industry/Region) 20.3.1.4. Sales Footprint 20.3.1.5. Strategy Overview 20.3.1.5.1. Marketing Strategy 20.3.1.5.2. Product Strategy 20.3.1.5.3. Channel Strategy 20.3.1.6. SWOT Analysis 20.3.2. Cargill Inc. 20.3.3. Vikas WSP 20.3.4. Hindustan Gums & Chemicals LTD 20.3.5. Shree Ram Gum Chemicals Pvt. Ltd. 20.3.6. Lucid Colloids Limited 20.3.7. Ashland Inc. 20.3.8. Supreme Gums Pvt. Ltd 20.3.9. India Glycols Ltd 20.3.10. Rama Industries 20.3.11. Lamberti Group 21. Assumptions and Acronyms 22. Research Methodology
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