I don't use it often, but it, as well as xanthan gum, is good for thickening fatfree smoothies, shakes, etc. Sometimes using fatfree milk is unsatisfying because it doesn't have the richness or mouthfeel of full-fat vegan milks; so adding a gum (a teeny bit!), no heating required, just blend on "high" till thickened, really makes a great drink.
Using a banana also adds richness without fat and a bit of coconut extract really makes a difference (doesn't necessarily add a coconut flavor if you don't add too much).
For added richness, thickness, and a boost of nutrition, I also like soy protein isolate which adds a creaminess too.
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