Europe Guar - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

Europe Guar - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The Europe Guar Market size is estimated at USD 324.15 billion in 2024, and is expected to reach USD 384.99 billion by 2029, growing at a CAGR of 3.5% during the forecast period (2024-2029).

Key Highlights

• Europe is the second-largest market for guar, guar seeds, and guar gum products globally, with Germany being one of the largest importers of guar gum in the region. The presence of numerous processing industries is the country that is one of the major drivers for Germany to be one of the largest importers of guar gum.
• Food processing industries such as dairy products, condiments & seasoning requirements, ice cream manufacturing, mineral water, and soft drinks production, are the major consumers of guar gum in the region. Additionally, the growing use of guar in animal feed is likely to drive the guar market in the European countries, including France, Italy, Denmark, and Spain.

Europe Guar Market Trends

Increasing Imports of Guar Gum

The import of guar gum in the European region was 84,571 metric ton, which was valued at USD 229.0 million in 2016, and reached 92,419 metric ton, with a value of USD 324.6 million in 2018. Germany, Russia, Netherlands, Italy, France, and the United Kingdom are the major importers of guar gum in the European region, accounting for 69.9% and 78.8% in terms of value and volume, respectively, in 2018. The food sector is the major guar gum consuming sector across Europe. In the United Kingdom, oil drilling is the second-largest industry that consumes guar gum in the country.

Germany Leads the European Guar Market

Germany is the major importer of guar gum in the European countries with an import volume of 30,443 metric ton, which valued at USD 95.5 million in 2018. The growing food processing industry and the animal feed industry are the two major driving factors for the German Guar import. In 2016, around 6000 food processing manufacturers marketed their products in the country. According to German Frozen Food Institute, the processed food market, including Frozen food, has grown by 30% since 2009. The German processed food industry is projected to grow in the upcoming years. This will drive the market for guar gum in Germany.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support