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.

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

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the 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.

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