(MoneyNewsWire.Net, December 28, 2017 ) The Global Guar Gum Market is worth USD 708 million in 2016 and estimated to grow at a CAGR of 7.9%, to reach USD 1035 million by 2021. The global Guar Gum market is developing at an exceptionally quick pace.
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The guar plant is aplant known as 'CyamopsisTetragonaloba'. The important source of nutrition to human and animals is the legume, it regenerates soil nitrogen and the endosperm of guar seed is an important hydrocolloid widely used across various industries.
The significant drivers is the developing oil & gas industry, specially the shale gas industry, which in turn increased the demand for guar gum. Also surge in the growing use of guar gum in wide range of applications, such as oil & gas, food & beverages, mining & explosives, paper manufacturing, pharmaceuticals etc. in developed and developing nations is boosting the industry.
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The Global Guar gum market is segmented on the basis of function, grade, application and region. Based on function, the market is segmented into Thickening, Gelling, Binding, and Friction Reducing. Based on application, the market is segmented into Food & Beverages, Oil & Gas, Paper Manufacturing, Mining & Explosives, and Pharmaceuticals & Cosmetics. Based on Grade, the market is segmented into Food Grade, Industrial Grade and Pharmaceutical Grade. The industrial grade segment is estimated to account for the largest market share in the Guar Gum Market in 2016. It is considered as the one of the most widely used guar gum, owing to its multi-functional properties and its vast applications in the oil & gas, mining & explosives, paper manufacturing etc. Based on Food and Beverage application, the market is segmented into Bakery & Confectionery Products, Dairy & Frozen Products, Beverages, Sauces & Dressings and Others.
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Global Guar Gum Market Geographical Analysis
• North America
• Latin America
• Middle East & Africa
Global Guar Gum Market Leaders' Analysis
• E.I. Dupont De Nemours and Company
• Ingredion Incorporated
• Shree Ram Industries
• Dabur India Ltd
• Hindustan Gums and Chemical Limited
• Lucid Group
• Supreme Gums Private Limited
• Rama Gum Industries
• Guangrao Liuhe Chemical Co., Ltd.
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