The guar market is expected to witness significant growth during the forecasted period of 2024-2029.
Guar, also known as cluster beans, is a type of drought-resistant leguminous crop that is used as a vegetable, green fodder, and green manure, and its seeds are used for the industrial derivation of guar gum. India and Pakistan are the native countries for the cultivation and production of guar. The demand for guar arises from the industrial extract of guar, which is guar gum. Guar gum is largely produced and used in the form of guar gum powder, which is used as an additive in food, paper, textile, pharmaceuticals, oil well drilling and cosmetics industries. The application of guar gum food application and non-food applications. Food applications include beverages, processed cheeses, dairy products, processed meat products, salad dressing, sauces, and bakery products.
Introduction:
The factors that increase the growth of the industry is the increasing demand in the oil and gas industry. Guar is one of the major components used in the production of guar gum. Guar gum, which is also called guaran, is a derivation of the endosperm of the guar plant. It is known to be a natural high molecular weight polysaccharide galactomannan that has a mannose-to-galactose ratio of 2:1 which is combined through glycosidic linkages. Derivatized guar is a type of guar that can be chemically modified to increase performance. This type of guar is commonly used for industrial applications, which include oil fields, cosmetics and personal care, the paint industry, the textile industry, and construction.
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Regional Analysis:
The Asia Pacific Region is expected to witness significant growth in the global guar market during the forecasted period of 2024 - 2029. The factors that signify the lead in the guar market growth in this region are the high rates of production of guar gum. India is a native to guar or cluster beans cultivation which are used as a vegetable. As per the Agricultural and Processed Food Products Export Development Authority (APEDA), India (accounts for 90% of guar gum production) and Pakistan are the leading producers and exporters of Guar gum in the world, with smaller crops cultivated in the U.S., China, Australia and Africa. As of 2022-23, India has exported over 406,513.53 million tons of guar gum to the world, with a value of US$617.14 million. The major importers of guar gum from India include the U.S.A., Germany, Russia, Netherlands, and Norway. The major states where guar gum is cultivated in India include Rajasthan, Gujarat, Punjab, Haryana, Madhya Pradesh, Uttar Pradesh, Tamil Nadu, Maharashtra, Andhra Pradesh, and Karnataka. As the growth of production of guar increases during the forecasted period, it will boost the global guar market growth as well.
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