Market Trends of Asia-Pacific Guar Industry
This section covers the major market trends shaping the APAC Guar Market according to our research experts:
Application in Various Industry is Driving Production
Highly refined guar gum is used as a stiffener in foods like ice cream, a stabilizer for cheeses, instant puddings and whipped cream substitutes. Guar bean is high in proteins, vitamins, and other dietary fibers due to which it posses several health benefits and is useful for weight loss and diabetes treatment. Guar is the most widely used general-purpose thickener and texture modifier in the food industry. Furthermore, Guar Gum is also used as a binder in the fish feed pellets. The binder keeps the pellets from disintegrating when placed in water and greatly reduces the consumption of fish feed in the pond. In the mining of various metals, it is used as a flocculent and as a depressant. Also, the consumption pattern of guar seeds is largely influenced by the demands of the petroleum industry. All the aforementioned factors influence production thus driving the market for guar in the region.
India Dominates the Market
The consumption pattern of guar seeds is largely influenced by the demands of the petroleum industry. India accounts for 90 percent of the world's guar produce, of which approximately, 72% comes from Rajasthan in 2018. Haryana is the second-largest Guar producing state that contributes around 11% of total production and the rest of the states are followed with Gujarat, Punjab, Uttar Pradesh, Madhya Pradesh, Tamil Nadu, Maharashtra, Karnataka, and Andhra Pradesh. According to the International Trade Statistics (ITC), in 2019, India exported guar gum worth USD 556 million with the quantity amounting to 408.15 thousand metric tons. The United States is the major export destination with a value of USD 203.99 million sharing 36.7% of total India's export which is followed by China, Russia, Germany, and Norway with a share of 16.6%, 8.5%, 7%, and 4.6% in 2019.
