The global guar gum powder market size reached US$ 18.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 28.7 Billion by 2027, exhibiting a growth rate (CAGR) of 7.8% during 2022-2027.
Market Outlook:
Guar gum powder refers to a free-flowing powder that is whitish to yellowish in color with a slight odor. It has a very fine texture and an excellent thickening capacity with high solubility in both cold and hot water. Consequently, guar gum powder is extensively used as a flocculant, gelling agent, stabilizer, hydrocolloid, a natural emulsifier, fracturing agent, etc. As such, it forms an essential component across several industries, including food and beverage (F&B), paper, textile, healthcare, pharmaceuticals, oil and gas, etc. Presently, various drilling companies are widely using guar gum powder to increase the viscosity of water, which further finds applications for extracting oil and natural gas from tight rock formations.
Market Trends and Drivers:
The widespread product adoption to impart softness and sponginess, enhance the texture and structure, improve moisture retention in bakery items, etc., is primarily driving the guar gum powder market. Additionally, it is also utilized as a bonding agent, conditioner and viscosifier for manufacturing creams, soaps, shampoos, lotions, and conditioners, a binder in tablets, as a mild laxative and soluble dietary fiber, etc., which is catalyzing the market growth. Besides this, the inflating popularity of guar gum powder to thicken the dye solutions in textile and carpet printing, thereby leading to more sharply printed patterns, is acting as another significant growth-inducing factor. Moreover, the escalating product demand for hydraulic fracturing and petroleum extraction, owing to its lubrication properties, is anticipated to fuel the guar gum powder market over the forecasted period.
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Competitive Analysis and Segmentation:
Key Market Segmentation:
The report has segmented the global guar gum powder market on the basis of grade, function, end use industry and region.
Breakup by Grade:
- Food-Grade
- Industrial-Grade
- Pharmaceutical-Grade
Breakup by Function:
- Thickening
- Gelling
- Binding
- Friction Reducing
- Other Functions
Breakup by End Use Industry:
- Oil Drilling
- Food Industry
- Paper and Textile
- Pharmaceuticals
- Cosmetics
- Others
Geographical Analysis:
- United States of America
- Germany
- India
- Others
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
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