Increasing Demand for Convenience Food is Increasing the Growth of the Guargum Market

HYDERABAD, TELANGANA, INDIA, September 23, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Guargum Market size is forecast to reach $789.2 million by 2026, growing at a CAGR of 4.8% during the forecast period 2021-2026. Guargum is extracted from guar beans and is a galactomannan polysaccharide. It has the ability to decrease the amount of glucose and absorb cholesterol in the stomach. It has multi-functional properties and is increasingly being used in several industries such as mining, manufacturing, food & beverage, and cosmetics among others. It offers a wide range of functions such as stabilizer, gelling agent, friction reducer, and binder. Guargum is mostly used as hydrocolloidal and as sugars galactose. Hydroxypropyl guar is a natural thickener that appears as a white powder and is derived from guar gum. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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https://www.industryarc.com/Research/Global-Guargum-Market-Research-507352

Key takeaways:

1. North America dominated the Global Guargum Market in 2020 owing to the increasing adoption of the hydraulic fracking and increasing usage of oil well drilling in the oil & gas industry. The Global Guargum Market scope for different regions will be provided in the final report.

2. Increasing demand for natural additives and increasing consumer awareness regarding the Guargum are likely to aid the market growth of the Global Guargum Market report.

3. Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be Global Guargum Market report.

4. Lack of raw material supply and fluctuations in prices are poised to create hurdles for the Global Guargum Market.

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Segmental Analysis:

1. Food Grade held the largest share in the Global Guargum Market in 2020 and is estimated to grow at a CAGR of 5.2% during the forecast period 2021-2026. Increasing demand for products as a natural thickener in functional foods and increasing demand for industrial grade guar gum is increasing the growth of the segment.

2. North America dominated the Global Guargum Market with a major share of 32.5% in 2020. This is owing to the increasing demand from food processing sector and increasing awareness regarding the weight loss benefits of the Guargum.

3. Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the increasing demand for lactose intolerant products, wide availability of oil resources, and increasing demand for hydraulic cracking.

4. Oil & Gas held the largest share in the Global Guargum Market in 2020 and is estimated to grow at a CAGR of 5.5% during the forecast period 2021-2026. This is owing to the increasing demand of shale gas boom.

Competitive Landscape:

The top 5 players in the Guargum industry are -

1. Ruchi Soya Industries Limited

2. Lucid Group

3. Dabur India Ltd.

4. Vikas WSP Limited

5. Hindustan Gums and Chemical Limited

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