Guar Gum Market Size Worth $785.2 Million by 2025 | CAGR 4.4%: Grand View Research, Inc.
SAN FRANCISCO, August 1, 2018 /PRNewswire/ --
The global guar gum market size is expected to reach USD 785.2 million by 2025, according to a new report by Grand View Research, Inc. The global market is projected to expand at a CAGR of 4.4% during the forecast period. Increasing use of guar gum for horizontal oil well drilling and hydraulic fracturing in the shale gas and oil industry is presumed to be the primary factor for market growth.
(Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg )
Increasing purchasing power of buyers owing to rising per capita income is expected to result in increased consumption of processed food. In addition, growing urban population and preference for convenience food by time-constraint consumers is expected to escalate the growth of the food processing industry, consequently driving demand for guar gum.
Production and demand are key factors influencing the price of raw material with changes in consumption trends of consumer industries, resulting in price fluctuations. The amount of rainfall during the monsoon determines raw material supply for the product. High fluctuation in prices with no minimum price guarantee may hamper market growth.
The industry faces a rising threat of substitution, owing to availability of cheaper substitutes such as xanthan gum, locust bean gum, and other synthetic alternatives. However, the threat of substitution is expected to remain moderate as synthetic alternatives are not preferred due to environmental risks and uncertain performance efficiency.
The market is concentrated in Asia Pacific, especially India and Pakistan. Majority of companies in this market operate their businesses on a small scale. Companies that cater to international markets, especially U.S., China, Europe, and Saudi Arabia, usually opt for direct distribution in order to increase their profit margin.
Browse full research report with TOC on 'Guar Gum Market Size, Share & Trends Analysis By Grade (Pharmaceutical, Industrial, Food), By Function, By Application (Oil & Gas, Food & Beverage), By Region, And Segment Forecasts, 2018 - 2025' at: https://www.grandviewresearch.com/industry-analysis/guar-gum-market
Further Key Findings From the Report Suggest:
- Industrial grade guar gum is expected to register a high revenue-based CAGR of 5.3% from 2018 to 2025 owing to its widespread usage in paper, textile, mining, and explosives industries
- Thickening and gelling agent is estimated to be the fastest-growing function segment by revenue, registering a CAGR of 5.0% from 2018 to 2025, owing to its rising use in food, pharmaceutical, and oil and gas industries
- Oil and gas industry is the largest application segment, which stood at USD 208.2 million in 2017, due to a booming U.S. shale gas and oil industry
- Product demand in North America is expected to value USD 415.2 million by 2025 on account of growing exploration and production activities in U.S. and Canada
- The market exhibits presence a number of small-scale manufacturers, primarily located in India and Pakistan. Major companies in the market focus on mergers and acquisitions in order to expand their business. However, they face competition from small players in terms of product prices.
Browse related reports by Grand View Research:
- Personal Care Specialty Ingredients Market - The global personal care specialty ingredients market size was USD 9.62 billion in 2015. Growing consumer awareness regarding the toxicity of synthetic chemicals used in personal care products.
- Squalene Market - The global squalene market size was USD 111.9 million in 2015 and is expected to witness significant growth over the next few years
- Cresol Market - The global cresol market size was USD 580 million in 2015. Growing vitamin E demand in food & dietary supplements owing to rising consumer concerns regarding healthy diet
- Salicylic Acid Market - The global salicylic acid market size was estimated at 89.8 kilo tons in 2015
Grand View Research has segmented the global guar gum market on the basis of grade, function, application, and region:
- Guar Gum Grade Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
- Food Grade
- Industrial Grade
- Pharmaceutical Grade
- Guar Gum Function Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
- Stabilizer & Emulsifier
- Thickening & Gelling Agent
- Binder
- Friction Reducer
- Others
- Guar Gum Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
- Oil & Gas
- Food & Beverage
- Pharmaceuticals & Cosmetics
- Others
- Guar Gum Regional Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- Netherlands
- Italy
- Russia
- Asia Pacific
- China
- India
- Japan
- Australia
- Thailand
- Indonesia
- Republic of Korea
- Malaysia
- Central & South America
- Brazil
- Argentina
- Chile
- Middle East & Africa
- Saudi Arabia
- United Arab Emirates
- South Africa
- North America
Explore the BI enabled intuitive market research database, The Grand Library, by Grand View Research, Inc.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: +1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Share this article