(Food-Beverage-News.Com, September 21, 2018 ) Overview The guar plant is a plant known as 'Cyamopsis Tetragonaloba'. The important source of nutrition to human and animals is the legume, it regenerates soil nitrogen and the endosperm of guar seed is an important hydrocolloid widely used across various industries. The Global Guar Gum Market is worth USD 824.28 million in 2018 and estimated to grow at a CAGR of 7.9%, to reach USD 1205.54 million by 2023. The global Guar Gum market is developing at an exceptionally quick pace.
Drivers and Restraints: The significant drivers of this market are the developing oil & gas industry, especially the shale gas industry, which in turn increased the demand for guar gum. Also surge in the growing use of guar gum in the wide range of applications, such as oil & gas, food & beverages, mining & explosives, paper manufacturing, pharmaceuticals etc. in developed and developing nations is boosting the industry.
Geographic Segmentation On the basis of Geography, the Guar Gum market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle East Asia. North America is estimated to constitute the largest share in this market, while the Asia Pacific region is expected to witness the fastest growth and overtake North America.
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