Market Trends of Europe Guar Industry
This section covers the major market trends shaping the Europe Guar Market according to our research experts:
Increasing Imports of Guar Gum
The import of guar gum in the European region was 84,571 metric ton, which was valued at USD 229.0 million in 2016, and reached 92,419 metric ton, with a value of USD 324.6 million in 2018. Germany, Russia, Netherlands, Italy, France, and the United Kingdom are the major importers of guar gum in the European region, accounting for 69.9% and 78.8% in terms of value and volume, respectively, in 2018. The food sector is the major guar gum consuming sector across Europe. In the United Kingdom, oil drilling is the second-largest industry that consumes guar gum in the country.
Germany Leads the European Guar Market
Germany is the major importer of guar gum in the European countries with an import volume of 30,443 metric ton, which valued at USD 95.5 million in 2018. The growing food processing industry and the animal feed industry are the two major driving factors for the German Guar import. In 2016, around 6000 food processing manufacturers marketed their products in the country. According to German Frozen Food Institute, the processed food market, including Frozen food, has grown by 30% since 2009. The German processed food industry is projected to grow in the upcoming years. This will drive the market for guar gum in Germany.
