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Guar Gum Market Size

Report ID: GMI2073
Published Date: May 2023
Report Format: PDF

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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..

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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.

Guar Gum Market Report Attributes
Report Attribute	Details
Base Year:	2023
Guar Gum 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:	Increasing consumption of convenience and frozen food products. Rising demand owing to the different functional properties

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Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of guar gum was surpassed USD 1.3 billion in 2023 and is estimated to register over 7.5% CAGR between 2024 and 2032, due to a significant rise in demand for frozen and convenience food worldwide.

The food-grade segment is poised to grow at 6.5% CAGR through 2032, owing to the growing usage of food-grade guar gum as a thickening agent in several food products and its positive impacts on human health.

The food & beverages segment reached over USD 600 billion in 2022, attributed to the increasing popularity of organic and plant-based food products.

Notable players in the guar gum industry 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, and AEP Colloids Inc.