Market Size of Guar Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.31 Billion |
| Market Size (2029) | USD 1.5 Billion |
| CAGR (2024 - 2029) | 2.60 % |
| Fastest Growing Market | North America |
| Largest Market | Asia-Pacific |
Major Players*Disclaimer: Major Players sorted in no particular order |
Guar Market Analysis
The Guar Market size is estimated at USD 1.31 billion in 2024, and is expected to reach USD 1.5 billion by 2029, growing at a CAGR of 2.60% during the forecast period (2024-2029).
- Asian countries, predominantly India and Pakistan, lead in guar bean cultivation, with minor contributions from China, the United States, Australia, and parts of Africa. Guar beans serve dual purposes: as a vegetable and as cattle feed. Data from APEDA highlights India's dominance, accounting for 80% of global guar production, solidifying its position as the market leader. The surging demand for processed guar products fuels this market. Guar gum, derived from the guar bean, finds applications in food, animal feed, and various industrial sectors.
- As the top producer, India also spearheads exports of guar beans to nations like the United Arab Emirates, Qatar, and Japan. The ITC Trade Map data indicates that India exported 169,129.6 metric tons of guar in 2023. Furthermore, India exports approximately 90% of its processed guar gum to countries like the United States, Russia, Germany, the Netherlands, and Norway. Notably, from 2023 to 2024, exports reached a substantial 417,674.38 metric tons, as per APEDA data.
- The oil and gas industry stands out as a primary consumer of guar gum, especially for hydraulic fracturing. With the industry's expansion, the demand for guar gum is on the rise. Additionally, bolstered by government initiatives promoting exports for foreign currency gains, the market is poised for further growth.
Guar Industry Segmentation
Guar or cluster bean is a leguminous plant. Guar gum is produced from its seeds. It is vital in various applications, including confectionery, baked goods, pet food, beverages, and frozen food products. Furthermore, in industrial settings, guar is utilized in tablet production, acting as a disruptive agent and binder. Additionally, it plays a role in providing micro-insulation for tablet fragments.
The guar market is segmented by geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The report includes production analysis (volume), consumption analysis (value and volume), export analysis (value and volume), import analysis (value and volume), and wholesale price trend analysis (value).
The market will be estimated in terms of value (USD) and volume (metric tons).
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Guar Market Size Summary
The guar market is experiencing a steady expansion, driven by its diverse applications across various industries. In the food and beverage sector, guar gum is valued for its properties as a thickener, stabilizer, and binder, making it a crucial ingredient in products like processed cheese, soups, and baked goods. The pharmaceutical and cosmetic industries are also increasingly utilizing guar gum for its natural emulsifying and binding properties, finding uses in products such as shampoos and tablets. Additionally, the oil and gas industry relies on guar gum for well stimulation processes, particularly in fracking. This broad range of applications is fueling the demand for guar, supporting its market growth.
Asia-Pacific, with India at the forefront, dominates the global guar market due to its significant production and export capabilities. India is the largest producer of guar gum, contributing a substantial portion of the world's supply and benefiting from government initiatives to boost exports. The country's stable production levels, coupled with increased productivity, have solidified its position as a leading exporter, with major markets including the United States, China, and Germany. The region's dominance is further supported by ongoing research and technological advancements, such as the development of biodegradable polymers using guar gum, which open new avenues for its application in industries like packaging.
Guar Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Value Chain / Supply Chain Analysis
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2. MARKET SEGMENTATION
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2.1 By Geography (Production Analysis, Consumption Analysis, Import Analysis by Volume and Value, Export Analysis by Volume and Value and Price Trend Analysis)
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2.1.1 North America
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2.1.1.1 United States
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2.1.1.2 Canada
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2.1.2 Europe
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2.1.2.1 Germany
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2.1.2.2 France
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2.1.2.3 Russia
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2.1.2.4 Spain
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2.1.3 Asia-Pacific
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2.1.3.1 India
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2.1.3.2 China
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2.1.3.3 Japan
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2.1.3.4 Australia
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2.1.4 South America
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2.1.4.1 Brazil
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2.1.4.2 Argentina
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2.1.5 Africa
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2.1.5.1 Malawi
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2.1.5.2 Sudan
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Guar Market Size FAQs
How big is the Guar Market?
The Guar Market size is expected to reach USD 1.31 billion in 2024 and grow at a CAGR of 2.60% to reach USD 1.5 billion by 2029.
What is the current Guar Market size?
In 2024, the Guar Market size is expected to reach USD 1.31 billion.
