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. 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 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.
To Know More About Guar Gum Market Please Visit Us @ https://www.grandviewresearch.com/industry-analysis/guar-gum-market
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.
To Know More About Guar Gum Market Please Visit Us @ https://www.grandviewresearch.com/industry-analysis/guar-gum-market
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.
Market Segmentation of Guar Gum Market:
The Global Guar Gum Market segmented on the basis of Grade, Function, Application, and Region.
By Grade:
Food Grade
Industrial Grade
Pharmaceutical Grade
By Function:
Stabilizer & Emulsifier
Thickening & Gelling Agent
Binder
Friction Reducer
By Application:
Oil & Gas
Food & Beverage
Pharmaceuticals & Cosmetics
By Region:
North America
Europe
Asia Pacific
Central & South America
Middle East & Africa
Inquire about Guar Gum Market with Our Experts @ https://www.grandviewresearch.com/inquiry/1379
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