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Guar Gum Market Size
Guar Gum Market size was valued at USD 1.3 billion in 2023 and is set to register over 7.5% CAGR between 2024 and 2032, driven by a dramatic rise in the consumption of convenience and frozen food products.
Increased adoption of a busy lifestyle, high-income levels, and extensive use of household technologies have augmented the uptake of processed, on-the-go frozen food items. According to the American Frozen Food Institute, sales of frozen food recorded a growth of 8.6% to reach $72.2 billion in 2022, depicting a 5% rise over pre-pandemic levels. Guar gum being an essential food additive, find extensive usage in a range of convenience and frozen food items, such as gravies, bread, soups, snacks, etc., significantly driving the market demand.
| Report Attributes | Details |
|---|---|
| Base Year: | 2023 |
| Market Size in 2023: | USD 1.3 billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 7.5% |
| 2032 Value Projection: | USD 2.14 billion |
| Historical Data for: | 2018 to 2023 |
| No. of Pages: | 230 |
| Tables, Charts & Figures: | 183 |
| Segments covered: | Product, Application |
| Growth Drivers: |
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COVID-19 Impact
The sudden outbreak of the COVID-19 pandemic accelerated consumer shift toward a healthy lifestyle as people became increasingly conscious about improving their immune health. This transition resulted in the rapid uptake of natural food ingredients such as guar gum that have proven efficacy in boosting digestion and controlling obesity, cholesterol, and blood sugar levels. In addition, the pharmaceutical sector also witnessed a massive boom during the crisis due to escalating R&D practices for developing effective treatment and preventive therapies to mitigate viral transmission. Since guar gum finds extensive usage as a gelling, stabilizing, emulsifying, thickening, and binding agent in a range of pharmaceutical applications, the product demand grew multifold during the pandemic.
Guar Gum Market Trends
The growing consumer inclination toward plant-based low-fat and low-calorie items is a key trend supporting the expansion of the guar gum market share. The latest study undertaken by The Good Food Institute, the Plant-Based Foods Association, and SPINS, suggests that dollar sales of plant-based food reached $8 billion in 2022, registering a growth of 6.6%. Guar gum can effectively reduce the overall fat content, making it suitable for usage in a variety of diet food items. Escalating fitness trends and increased health awareness will boost product sales through 2032.
Guar Gum Market Analysis
Food grade guar gum market size is anticipated to expand at 6.5% CAGR during 2023 to 2032. Guar gum, a gel-forming thickening fiber, is extensively used as a thickening agent in a variety of food items. The consumption of food-grade guar gum has numerous health benefits, such as it helps absorb excess liquid in those experiencing diarrhea, normalizes moisture content in the stool, and prevents constipation.
The guar gum market size from the food & beverages segment dominated with around USD 600 million revenue in 2022. There has been an increased cognizance of the benefits of consuming organic food products, mainly due to growing health awareness and shifting dietary preferences. This has promoted the usage of guar gum across the food & beverages industry, accelerating business growth. Moreover, guar gum is resistant to breakdown under low pH conditions and is soluble in cold water, making it ideal for usage in beverage processing plants, further stimulating the market size.
Europe guar gum market accounted for USD 300 million revenue in 2022. Changing lifestyle patterns and dietary preferences of the European population have created favorable growth prospects for guar gum manufacturers in the region. Industry sources claim that the demand for gums is rising due to the rising popularity of gluten-free foods. Additionally, a commendable surge in the sales of processed foods and beverages is also a key factor driving the demand for guar gum across Europe.
Guar Gum Market Share
Major companies in the guar gum market include:
- Hindustan Gum & Chemicals Ltd
- Cargill Inc
- Dabur
- Ingredion Incorporated
- Jai Bharat Gum & Chemicals Ltd
- Vikas WSP Ltd
- Lucid Group
- India Glycols Ltd
- Nutriroma
- Supreme Gums Pvt. Ltd,
- AEP Colloids Inc.
Guar Gum Industry News
- In April 2023, Ingredion Incorporated received an investment worth $157,000 from Concord Wealth Partners. This allowed the firm to expedite its expansion plans in the health and plant-based products domain.
- In June 2022, Ingredion announced its plan to expand its operations in Europe, Asia, and South America. The company was also considering strategic associations such as mergers & acquisitions to strengthen its foothold across these markets.
This guar gum market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo Tons and revenue in USD Million from 2018 to 2032 for the following segments:
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Market, By Product
- Food Grade
- Industrial Grade
- Pharmaceutical Grade
Market, By Application
- Food & Beverage Industry
- Bakery & Confectionery
- Dairy & Frozen Food
- Beverages
- Others
- Oil & Gas
- Paper Manufacturing
- Pharmaceuticals
- Cosmetics
- Others
The above information has been provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Poland
- Asia Pacific
- China
- India
- Japan
- Australia
- Indonesia
- South Korea
- Latin America
- Brazil
- Mexico
- Middle East
- South Africa
- Saudi Arabia
- UAE
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