CLEVELAND, May 18, 2017 /PRNewswire/ -- Value demand for guar gum is forecast to expand 7.1% yearly through 2021 to $120 million. Overall growth will be slower than the growth seen between 2011 and 2016, despite recovery in volume demand, as pricing undergoes a correction from the double-digit gains seen during the same period. However, prices will remain high, as feedstock supplies remain limited. These and other trends are presented in Food & Beverage Hydrocolloids Market in the US, a new study from The Freedonia Group, a Cleveland-based industry research firm.
Volume demand for guar gum is forecast to recover from the minor losses registered between 2011 and 2016, expanding almost 2% yearly to 53 million pounds in 2021. These gains will be driven primarily by reduced use of guar gum in oilfield applications, resulting from falling oil drilling in light of low oil prices. According to analyst Christine O'Keefe, "In turn, more guar gum will become available for food and beverage applications." Stronger growth will be restrained by the continued high prices, despite slowing increases in pricing.
Baked goods are the largest market for guar gum, accounting for 35% of overall value demand in 2016. Guar gum is frequently used in gluten-free baked goods, where it helps produce an appealing texture and retains moisture. Guar gum is also a high fiber product, although the amount used typically does not add significant amounts of fiber. Through 2021, baked goods are forecast to post the slowest growth, expanding just over 5% yearly to $39 million, as demand slows for gluten-free foods.
More information about the study is available at https://www.freedoniagroup.com/industry-study/food-beverage-hydrocolloids-market-in-the-us-by-plant-seed-gums-extracts-seaweed-extracts-and-xanthan-gum-3516.htm
Related studies include:
- #3491 Alternative Sweeteners Market in the US, 9th Edition (February 2017)
- #3476 Natural Flavors & Fragrances (October 2016)
About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Chemicals studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/guar-gum-sales-to-grow-over-7-annually-through-2021-300460381.html
SOURCE The Freedonia Group