The Europe Guar Market is projected to witness a CAGR of 3.5% during the forecast period 2020-2025. Europe is the second-largest market for guar, guar seeds, and guar gum products globally with Germany 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 usage of guar in animal feed is likely to drive the market for Guar in the European countries, including France, Italy, Denmark, and Spain.
Key Market Trends
Increasing Imports of Guar Gum
The import of guar gum in the European region was 84,571 metric ton which valued at USD 229.0 million in 2016, which has reached 92,419 metric ton which valued at 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 tons, 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 in the country 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.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support