Guar gum powder is an excellent ingredient for many food products including beverages, ice cream, and yogurt. It also has a long history of use in medicine. Moreover, the supply and demand for this product in Asia have been growing over the last few years. Nevertheless, there are several factors that may play a role in this process.
Why is the Asian Market of Guar Gum Powder in Food Increasing?
Guar gum is a plant, usually associated with India. It is used in a variety of industries, including food and oil & gas. Guar is also widely used in the textile industry. The increasing consumption of processed food products, especially in Asia-Pacific region, is expected to boost the guar gum market.
Guar gum is used as a food stabilizer and gelling agent. It is also used in explosives. Besides being a natural product, guar gum has many health benefits, such as the ability to reduce serum triglycerides, LDL cholesterol, and glucose tolerance.
In addition, guar gum is also used in water treatment. Because of its fracturing and waterproofing properties, it is ideal for both the oil and gas industry.
What is the Guar Gum Powder Demand and Supply in Global Market?
Guar gum powder has many applications in the food industry, and is especially useful in bakery items. It is widely used as a thickening agent, and helps to maintain moisture retention and a smooth texture. Also, it is a food preservative.
Globally, Europe holds the largest share of the guar gum powder market. This segment is estimated to reach US$ 0.84 Bn in 2023. However, Asia-Pacific is expected to dominate the global market in the future. The growth of the guar gum powder market in Asia-Pacific region is mainly driven by increasing consumption of processed foods.
Another factor that is boosting the demand for food-grade guar gum is changing eating habits. Growing number of people suffering from diabetes, obesity, and other related diseases is expected to increase the demand for food-grade guar products. In addition, a rise in health awareness is driving the demand for guar gum.
The growing oil & gas sector is also boosting the demand for industrial-grade guar gum. As a result, companies are investing heavily in new technologies and product portfolios. Additionally, increasing demand for personal care and pharmaceutical products is providing a plethora of lucrative growth opportunities.
Asia’s Market of Guar Gum for Pharmaceutical Industry
The Global Guar Gum Powder market is expected to witness considerable growth in the coming years. Growing product penetration in pharmaceutical industry and aging population are the primary factors boosting the growth of the global guar gum powder market.
Increasing consumer demand for processed food and personal care products is expected to boost the overall growth of the guar gum powder market. In Asia-Pacific, rising disposable incomes and rapid urbanization are driving the increase in consumption of processed foods. Also, the rise in health awareness is encouraging manufacturers to focus on convenience foods and beverages. However, economic turbulence is projected to affect the industry.
Guar gum powder is widely used in various industries such as oil and gas, mining, textiles, pharmaceuticals, and water treatment. Moreover, guar gum acts as water-barrier and sizing agent, thereby, providing extended shelf life to many products.
Among the application segments, the food-grade segment holds the largest share in the guar gum powder market. Moreover, the hydrated gum oil drilling segment is anticipated to witness substantial growth in the coming years.
The Bottom Line
The global market for guar gum has recently faced challenges due to a coronavirus outbreak. However, with the growing application of guar gum, the market is expected to expand at a rapid pace.
Guar gum is widely used in the food industry, particularly in the manufacturing of bakery and confectionary products. It is also ideal for pharmaceuticals and mining. In addition, it is known for its water-binding and gelling properties.
As a result, it has been used as a fat replacer in convenience foods. Furthermore, it is also used in beverage processing plants to improve shelf life. Increasing consumer awareness about the health benefits of guar gum is expected to further boost the growth of the guar gum market in Asia.