Gum Tragacanth: Market outlook
Gum tragacanth is gummy dried exudation which is extracted from Astragalus gummifer or other species of Astragalus. Astragalus gummifer is a small bushy perennial shrub having large roots, which, along with the branches, are tapped for the extraction of the gum tragacanth. The gum tragacanth is extracted from the roots and branches in the form of flaxes or ribbons, which after drying gets brittle. The properties of gum tragacanth include effective emulsifying properties, stability to heat and acidity, suspending action, high viscosity at low concentration, and extremely long shelf life. These properties make gum tragacanth a versatile ingredient used in various industrial sectors. Gum tragacanth is used in the pharmaceutical industry in medicinal lotions, emulsions, syrups, ointments, jellies, salves, and creams as an emulsifier, thickener, and lubricant. Gum tragacanth is used in the emulsions of cod liver oil, to assist the absorption of lesser soluble substances. In cosmetics and personal care products, gum tragacanth finds broad application. Gum tragacanth is used in hair care and skin care products due to its long shelf life and film-forming properties. Also, gum tragacanth acts as like a suspending agent in kinds of toothpaste to form a creamy product. In the food and beverage industry, gum tragacanth is used as an emulsifier, thickener, stabilizer, and texturant due to its relative stability to acidity, heat, and aging. Gum tragacanth has been used in textile print paste and sizes for high-quality silks and crepes. It is also used in dressing leather and the preparation of leather polishes. Besides, gum tragacanth is used in floor, furniture, and auto polishes. Furthermore, it is used in adhesive for reconstructed cigar wrapper leaves. The broader use of gum tragacanth in several industrial application is thus anticipated to witness a growing demand over the forecast period.
Growing Industrial Application Provides Strong Market Prospects for Gum Tragacanth
The market for gum tragacanth is anticipated to witness considerable demand over the forecast years owing to the burgeoning industrial application which is, in turn, is creating demand for gum tragacanth. The growing pharmaceutical industry and medicinal products are producing demand for additives like gum tragacanth. Gum tragacanth is natural gum and hence is finding an upper hand in the industrial application attributing to the growing trend for natural ingredients and products. The increasing urbanization, per capita disposable income, and standards of living is contributing to the ever-increasing food, and cosmetics and personal care industry. The growth of these industries is thus providing growth opportunities for the ingredients which are used in their formulation either as an emulsifier, stabilizer, texturizing agent, or any other additive. Since gum tragacanth is used in the production process to enhance the qualitative and sensory appeal of the products, thus is finding a strong market opportunity for growth over the forecast period.
Global Gum Tragacanth: Market Segmentation
On the basis of product type, the global gum tragacanth market has been segmented as-
On the basis of end use, the global gum tragacanth market has been segmented as-
- Food Industry
- Cosmetics and Personal Care
- Other Industrial Uses (manufacturing of crayons & ceramics, textile & paper processing, leather curing, and wood match manufacturing)
On the basis of region, the global gum tragacanth market has been segmented as-
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
Global Gum Tragacanth: Key Players
Some of the major players of gum tragacanth market include: Arthur Branwell, Hawkins Watts Limited, Scents of Earth, Kachabo Gums, Alfa Chemical Corp., Xiamen Hisunny, Lakrena International, Wizard’s Cauldron, Inc., Hawkins Watts, Colony Gums, Kachabo Gums, Polygal AG, Neostar United, Shaanxi Top Pharm, and others
Opportunities for Participants of Gum Tragacanth Market:
Gum tragacanth market is expected to register considerable market growth both in developed and developing economies. The Asia Pacific region is expected to register a relatively growth and high market share for gum tragacanth over the forecast period attributed to the growth of the gum market, especially in India and China. Increasing population, growing food industry, and rising health concerns are factors anticipated to drive the growth for gum tragacanth market. Besides, North America is witnessing a rapid increase in the production capacity of gum tragacanth attributed to the growing demand and supply gap of natural gums comprehensively used in end-use industries including pharmaceuticals, cosmetics and personal care, food, and other industries.
The gum tragacanth market report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the gum tragacanth market, including but not limited to: product type, end use, and regional markets.
The study is a source of reliable data on:
- Gum tragacanth market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The gum tragacanth market report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the gum tragacanth market report projects the attractiveness of each major segment over the forecast period.
Highlights of the Gum Tragacanth market report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the gum tragacanth market
- Recommendations to companies for strengthening their foothold in the gum tragacanth market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.