The Guar Gum Global Market Report 2023, provides comprehensive information on the guar gum market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Guar Gum Global Market Report 2023, the global guar gum market is expected to grow from $1.13 billion in 2022 to $1.21 billion in 2023 at a compound annual growth rate (CAGR) of 7.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The guar gum market is expected to reach $1.54 billion in 2027 at a CAGR of 6.2%.
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Technological development is a key trend gaining popularity in the guar gum market. Major companies operating in the guar gum market are focused on developing new technological solutions to strengthen their position. For instance, in December 2021, Solvay, a Belgium-based chemical company, partnered with BanQu to launched a blockchain technology platform for the guar supply chain. The solution enables more transparency, full traceability, equality, and revenues for local farmers. The technology ensures full transparency for about 2000 farmers about prices and volumes of guar and also ensures direct payment.
The guar gum market is segmented:
1) By Type: Food Grade, Industrial Grade, Pharmaceutical Grade
2) By Function: Stabilizer, Emulsifier, Thickening, Gelling Agent, Binder, Friction Reducer
3) By End Use Industry: Food and Beverages, Fracking, Textiles, Pharmaceuticals, Other End Use Industries
North America was the largest region in the guar gum market in 2022.
The table of contents in TBRC’s guar gum market report includes:
1. Executive Summary
2. Guar Gum Market Characteristics
3. Guar Gum Market Trends And Strategies
4. Guar Gum Market – Macro Economic Scenario
5. Guar Gum Market Size And Growth
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26. Africa Guar Gum Market
27. Guar Gum Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Guar Gum Market
29. Guar Gum Market Future Outlook and Potential Analysis
30. Appendix
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