Tragacanth
Market: Overview
Tragacanth
is a basically a natural gum which is derived from the dried fluid of
various species of legumes of the Middle Eastern genus Astragalus,
includes gummifer, adscendens, brachycalyx, and .tragacanthus. The
Tragacanth gum is also known as shiraz gum elect, shiraz gum or gum
dragon. Iran is the largest producer of the best quality of this gum.
Tragacanth has widely used as a demulcent in cold and cough cases and
also to manage diarrhea. Moreover, tragacanth is also has been
applicable to low the blood sugar level. In addition, it is also used
as an ingredient in hand lotions, toothpastes, denture adhesives, and
jellies and vaginal creams. Also, in food, tragacanth is vital for
thickening and stabilizing ingredients in foods, salad dressings, and
beverages. On the other hand, in tragacanth is used as a binding
agent in pharmaceutical products.
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Tragacanth
Market: Drivers & Restraints
The
major factors driving the growth of tragacanth market are growing
demand of tragacanth in a wide range of applications ranging from
food to pharmaceutical, rising demand for tragacanth gum, increasing
urbanization, and rising disposable income. Moreover, rising demand
for tragacanth as thickening agent in cosmetics and pharmaceuticals
is also the major factors that is boosting the growth of the market
over the forecast period. Increasing application opportunity of
tragacanth in textile industry as sizing agent to boost the bonding
characteristics between handling ability and resin systems is also
fuelling the market demand. In addition, demand of tragacanth is
growing, as a stabilizing agent in pourable dressings attributed to
its long shelf life, acid stability, and salt compatibility.
Moreover, enhanced pourable dressing flavorants with high composition
of hydrocolloids and less oil content is expected to trigger
tragacanth demand of tragacanth. Rising food products demand is
creating a gap between supply and demand and thus increasing demand
of tragacanth gum. On the other hand, substitute products includes
xanthan gum is the major factor which is hindering the market growth
over the forecasted period, owing to less microbial contamination
levels.
Tragacanth
Market: Market Segmentation
The
tragacanth market is segmented into four parts based on the product
type, application type, distribution channels, and geography.
Based
on the product type the tragacanth market is segmented into:
- Ribbons
- Flakes
Based
on the application type the tragacanth market is segmented into:
- Pharmaceuticals & medical
- Foods
- Personal Care & Cosmetics
- Others (industrial uses including manufacturing of crayons & ceramics, leather curing, textile & paper processing and wood match manufacturing)
Based
on the type of distribution channels tragacanth market is segmented
into:
- Internet Retailing
- Mass Retailers
- Direct Selling
- Others
Tragacanth
Market: Regional Outlook
Regarding
geography, tragacanth
market has been categorized into five seven key regions including
North America, Western Europe, Eastern Europe, APEJ, Japan, Latin
America, and the Middle East & Africa. Tragacanth market is
expected to register healthy CAGR during the forecast period.
Asia-Pacific represents the significantly high market share and grow
with comparatively high CAGR in forecast period. North America is
experiencing the rapid increase in the production capacity of
tragacanth owing to increasing demand-supply gap of natural gums
extensively used in growing end-use industries including foods,
cosmetics pharmaceutical, and personal care industries. Tragacanth
market is projected to register healthy growth due increasing
end-user application across globe. Tragacanth market for Asia Pacific
is also expected to witness rapid growth during the forecast period
primarily attributed to the growth of gum market, especially in China
and India. Moreover, increasing population and rising health concerns
mainly in emerging economies of China and India is expected to boost
the growth the APEJ tragacanth market.
Tragacanth
Market: Key Players
Some
of the prominent players identified in the tragacanth market are:-
- Hawkins Watts Limited
- Kachabo Gums
- Lakrena International
- Scents of Earth
- Alfa Chemical Corp.
- Wizard’s Cauldron, Inc.
- Hawkins Watts
- Colony Gums
- Kachabo Gums
- Polygal AG
- Vasundhara
- Arthur Branwell
- Xiamen Hisunny
- Neostar United
- Shaanxi Top Pharm
- Others
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