Guar Gum Market Outlook 2028

Guar gum also known as guaran is a polysaccharide derived from guar beans/cluster beans. It is a fiber obtained from guar plant and is used for various industrial purposes. Some of the key applications of guar beans are in oil & gas, food & beverage, pharmaceutical, and cosmetics sector. The global guar gum market is estimated to grow with a CAGR of 6.9% during the forecast period, i.e., 2021-2028. Factors such as the growing demand for guar gums from end user industries, especially in pharmaceutical, oil & gas, and food & beverage industries among others, is anticipated to drive the market growth. In the oil & gas industry, guar gum is used widely as green corrosion inhibitors, drilling fluid formulations, dispersants, and others, whereas, in the food & beverage industry, it is used as a natural colloid, and in the pharmaceutical industry as a natural polymer. The global guar gum market is estimated to attain a market revenue of around USD 1110 Million by the end of 2028 from about USD 790 Million in 2019. Further, the increasing production of crude oil worldwide and therefore the increasing need for guar gums in oil producing plants, is also anticipated to drive the market growth.

The global guar gum market is segmented into various segments, which include segmentation by grade, application, end user, and by region. Based on application, the market is further bifurcated into food, pharmaceutical, and industrial. Out of these segments, the industrial segment is projected to grow with the highest CAGR of 7% approximately during the forecast period, and is further anticipated to touch close to USD 600 Million by the end of 2028. Guar gums in industries is used widely as a sizing agent, thickening agent, wet-end additive, and gelling agent.

Some of the key players in the global guar gum market that are mentioned in our report are Ingredion Incorporated, Ashland Inc., Shree Ram Industries, Hindustan Gum & Chemicals Ltd., Vikas WSP Ltd., International Flavors & Fragrances, Inc., Cargill, Incorporated, Ruchi Soya Industries Limited, and others.