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North America Guar Gum Market By Application (Oil & Gas, Paper Manufacturing, Mining & Explosives, Food & Beverages, Pharmaceuticals & Cosmetics), By Grade (Food Grade, Industrial Grade And Pharmaceutical Grade), By Function (Binding, Friction Reducing Thickening, Gelling), By Food And Beverage Application (Bakery & Confectionery Products, Dairy & Frozen Products, Beverages, Sauces & Dressings And Others) And By Country (US, Canada, Mexico and Rest of North America) - Growth, Size, Share, Trends, and Forecasts (2023 to 2028)

Published: March, 2023
ID: 4134
Pages: 125
Formats: report pdf report excel report power bi report ppt

North America Guar Gum Market Growth and Forecast (2023 - 2028):

The North America Guar Gum Market is worth USD 272.01 million in 2022 and estimated to grow at a CAGR of 8.5%, to reach USD 409.01 million by 2028. The North America Guar Gum market is developing at an exceptionally quick pace.

Market Overview:

The guar plant is aplant 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.

Drivers:

The significant drivers is the developing oil & gas industry, specially the shale gas industry, which in turn increased the demand for guar gum. Also surge in the growing use of guar gum in 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.

North America Guar Gum Market Segmentation Analysis:

The North America Guar Gum Market for Guar gum is segmented on the basis of function, grade, application and region. Based on function, the market is segmented into Thickening, Gelling, Binding, and Friction Reducing. Based on application, the market is segmented into Food & Beverages, Oil & Gas, Paper Manufacturing, Mining & Explosives, and Pharmaceuticals & Cosmetics. Based on Grade, the market is segmented into Food Grade, Industrial Grade and Pharmaceutical Grade. The industrial grade segment is estimated to account for the largest market share in the Guar Gum Market in 2016. It is considered as the one of the most widely used guar gum, owing to its multi-functional properties and its vast applications in the oil & gas, mining & explosives, paper manufacturing etc. Based on Food and Beverage application, the market is segmented into Bakery & Confectionery Products, Dairy & Frozen Products, Beverages, Sauces & Dressings and Others.

Region Analysis:

Geographically the North America Guar Gum Market is segmented into US, Canada, Mexico and Rest of North America. North America has the largest share in this market .USA has the highest demand followed by Canada and Mexico. The North America region is largely driven by health concerns.

Key Players in the Market:

Major Key Players in the North America Guar Gum Market are

  • Jai Bharat Gums & Chemicals Ltd. (India)
  • Neelkanth Polymers (India)
  • Guangrao Liuhe Chemicals Co. Ltd. (China)
  • Lucid Group (India)
  • Hindustan Gums & Chemicals Ltd. (India)
  • Vikas WSP Limited (India)
  • Ashland Specialty Ingredients (U.S.)
  • Ingredion Inc. (U.S.)
  • Altrafine Gums (India)
  • Ruchi Soya Industries Ltd. (India)
  • Supreme Gums Pvt. Ltd. (India)

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