(Food-Beverage-News.Com, February 07, 2018 ) According to the report Guar Gum Market, published by Market Data Forecast, the North America market is worth USD 267.99 million in 2017 and estimated to grow at a CAGR of 8.5%, to reach USD 403.62 million by 2022.
Cyamopsis Tetragonaloba is the biological name of guar gum plant. The most widely used part of this plant is the endosperm which is a hydrocolloid. Legume is a veritable nutritional supplement for humans as well as animals.
North America Guar Gum Market: Drivers & Restraints Rapid developments in the shale gas industry has spilled over to the guar gum market resulting in increased demand, growing use of guar gum in the oil and gas industry conjoined with mines and explosives industry especially in the developing countries are the primary drivers of market growth. Be that as it may, market fluctuations and unpredictability conjoined with growing alternatives in the market like locust bean gums etc. are the primary restraints of market growth.
North America Guar Gum Market: Segmentation By Grade • Food Grade • Industrial Grade • Pharmaceutical Grade By Function • Thickening • Gelling • Binding • Friction Reducing • Other Functions By Application • Oil and Gas • Food and beverages o Bakery and Confectionary o Dairy and Frozen Products o Sauces and Dressings o Others • Mining and explosives • Paper Manufacturing • Pharmaceuticals and Cosmetics • Others By Geography • North America o United States o Canada
North America Guar Gum Market: Overview If we go by grade then industrial grade segment was the market leader in 2017 and is anticipated to retain its lead in the aforementioned forecast period. It is multi-functional. As of 2017, North America dominated the guar gum market due to growing oil and gas industry in this region and increasing demand for processed foods, frozen food and confectionary foods in United States.
North America Guar Gum Market: Key Players Some of the key players in the market include Jai Bharat Gums & Chemicals Ltd., Neelkanth Polymers, Guangrao Liuhe Chemicals Co. Ltd., Lucid Group, Hindustan Gums & Chemicals Ltd., Vikas WSP Limited, Ashland Specialty Ingredients, Ingredion Inc., Altrafine Gums, Ruchi Soya Industries Ltd., and Supreme Gums Pvt. Ltd.
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