Market Size of Asia-Pacific Guar Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 2.90 % |
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Asia Pacific Guar Market Analysis
The Asia-Pacific Guar Market is projected to grow at a CAGR of 2.9% during the forecast period. Guar products are been used for many applications including food preparations, beverages, textiles, paper industry, petroleum industry, mining, explosives, pharmaceuticals, and cosmetics. Growing demand from the food and beverage industry as an ingredient mainly as a food additive especially for functions like thickener, stabilizer, and binder. Fracking remains one of the biggest end-use industries for guar products. India is the major producer of Guar followed by Pakistan in the region. Together they account for about 95% of total world production of guar seed as well as exports of guar gum. Apart from India and Pakistan, guar is also produced in smaller quantities in Australia and China. Due to increased demand from various countries, the Indian export market has been recording significant growth. For instance, according to the Agricultural and Processed Food Products Exports Development Authority, in 2018 Guar gum, exported by India to China and Japan accounted for USD 13,186 thousand and USD 6804 thousand, respectively.
