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Guar Gum Market Size
- Report ID: GMI2073
- Published Date: May 2023
- Report Format: PDF
Guar Gum Market Size
Guar Gum Market size was valued at USD 1.3 billion in 2023 and is set to register over 7.5% CAGR between 2024 and 2032, driven by a dramatic rise in the consumption of convenience and frozen food products..
Increased adoption of a busy lifestyle, high-income levels, and extensive use of household technologies have augmented the uptake of processed, on-the-go frozen food items. According to the American Frozen Food Institute, sales of frozen food recorded a growth of 8.6% to reach $72.2 billion in 2022, depicting a 5% rise over pre-pandemic levels. Guar gum being an essential food additive, find extensive usage in a range of convenience and frozen food items, such as gravies, bread, soups, snacks, etc., significantly driving the market demand.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Guar Gum Market Size in 2023: | USD 1.3 billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 7.5% |
| 2032 Value Projection: | USD 2.14 billion |
| Historical Data for: | 2018 to 2023 |
| No. of Pages: | 230 |
| Tables, Charts & Figures: | 183 |
| Segments covered: | Product, Application |
| Growth Drivers: |
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Guar Gum Market Scope
