Market Size of Guar Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.31 Billion |
| Market Size (2029) | USD 1.50 Billion |
| CAGR (2024 - 2029) | 2.60 % |
| Fastest Growing Market | North America |
| Largest Market | Asia-Pacific |
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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).
- The demand for guar is escalating because of its vast applications in the food and beverage industry as an ingredient, mainly as a food additive, especially for functions like thickener, stabilizer, and binder. Increasing application and research on gaur gum in drug manufacturing and cosmetic industries and their application in oil and gas well stimulation are expected to support the market's growth.
- Fracking remains one of the biggest end-use industries for guar products. Asia-Pacific will continue to dominate the guar market over the forecast period due to high production and high export to other countries.
- India is the largest producer of guar gum, accounting for nearly 80% of the total production. The product accounts for approximately one-third of the total agricultural exports in India. Hence, a growing number of government initiatives to encourage exports to gain foreign currency are expected to benefit the market.
