Market Overview:
The global tragacanth market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for tragacanth in food industry, pharmaceuticals, and cosmetics applications. Tragacanth is a natural gum obtained from the sap of various species of Astragalus plants. It is available in two forms: ribbon form and flake form. Ribbon form tragacanth has high viscosity and is used as a thickener, stabilizer, and emulsifier in food industry applications such as ice cream, yogurt, sauces, dressings, etc.
Product Definition:
The tragacanth is a plant that grows in the Middle East and North Africa. The sap of the plant is collected and used to make a thick, sticky syrup called tragacanth gum. This gum is used in many different ways, including as an adhesive, a thickener, and a stabilizer.
Ribbon Form Tragacanth:
Ribbon form tragacanth also called as ribbons or tapes form tragacanth, is a type of hydrophilic gelatine that is derived from the gelling reaction of glucose with lime (calcium oxide). It has a wide range of applications in food and beverages. The product finds application in various end-use industries such as pharmaceuticals, cosmetics, and food & beverage owing to its unique properties.
Flake Form Tragacanth:
Flake form tragacanth is a type of gellan gum produced by the hydrolysis of starch from plant sources such as amylose and cellulose. It has been used in pharmaceuticals, cosmetics, food products and beverages for thickening, stabilizing and emulsifying agents.
Application Insights:
Food industry was the largest application segment in 2015 and is expected to witness significant growth over the forecast period. Tragacanth is used as a food additive for its anti-caking, emulsification, foaming and thickening properties. It acts as an antioxidant, improves texture of food products and has low hygroscopic properties which makes it suitable for use in confectionery coatings & fillings.
The product finds applications in several industries including pharmaceuticals where it acts as a carrier for drug delivery systems owing to its high viscosity property. It can be used instead of xanthan gum or carboxymethyl cellulose due to its lower price coupled with better performance characteristics making it suitable for use across various end-use industries globally such as cosmetics & personal care; paper; paints & coatings; plasticizers; adhesives/sealants among others.
Regional Analysis:
Asia Pacific was the dominant regional segment occupying over 45.0% of the total market volume in 2017. The region is projected to continue holding a major share over the forecast period owing to increasing demand for natural products from various end-use industries, such as food and beverages, pharmaceuticals, cosmetics and others.
The growing population coupled with rising disposable income levels in emerging economies including China and India are expected to be some of the key factors driving product demand in this region. Furthermore, rapid industrialization along with an expanding manufacturing sector is likely to benefit industry growth across Asia Pacific during the forecast period.
Europe accounted for more than 20% of global tragacanth market revenue in 2017 owing to high consumption levels from countries including Germany, U.K.
Growth Factors:
- Increasing demand for natural gums in various end-use industries such as food, beverage, pharmaceuticals, and cosmetics is expected to drive the growth of the tragacanth market over the forecast period.
- Tragacanth is used as a thickening agent and stabilizer in various food products which is projected to fuel its demand over the next few years.
- Growing awareness about the benefits of using tragacanth in various applications is anticipated to boost its demand during the forecast period.
- Rising inclination towards organic products is expected to create new opportunities for tragacanth market players over the next few years.
Scope Of The Report
Report Attributes
Report Details
Report Title
Tragacanth Market Research Report
By Type
Ribbon Form Tragacanth, Flake Form Tragacanth
By Application
Food Industry, Pharmaceuticals, Cosmetics
By Companies
Hawkins Watts, Lakrena International, Scents of Earth, Kachabo Gums, Triarco Industries Inc, Alfa Chemical Corp, Wizard’s Cauldron, Polygal AG, Hawkins Watts
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
210
Number of Tables & Figures
147
Customization Available
Yes, the report can be customized as per your need.
Global Tragacanth Market Report Segments:
The global Tragacanth market is segmented on the basis of:
Types
Ribbon Form Tragacanth, Flake Form Tragacanth
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Food Industry, Pharmaceuticals, Cosmetics
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Hawkins Watts
- Lakrena International
- Scents of Earth
- Kachabo Gums
- Triarco Industries Inc
- Alfa Chemical Corp
- Wizard’s Cauldron
- Polygal AG
- Hawkins Watts
Highlights of The Tragacanth Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Ribbon Form Tragacanth
- Flake Form Tragacanth
- By Application:
- Food Industry
- Pharmaceuticals
- Cosmetics
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Tragacanth Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Tragacanth is a gum derived from the bark of the Tragacanth tree. It was historically used as a thickener and stabilizer in food products.
Some of the major companies in the tragacanth market are Hawkins Watts, Lakrena International, Scents of Earth, Kachabo Gums, Triarco Industries Inc, Alfa Chemical Corp, Wizard’s Cauldron, Polygal AG, Hawkins Watts.
The tragacanth market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Tragacanth Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Tragacanth Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Tragacanth Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Tragacanth Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Tragacanth Market Size & Forecast, 2020-2028
4.5.1 Tragacanth Market Size and Y-o-Y Growth
4.5.2 Tragacanth Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Ribbon Form Tragacanth
5.2.2 Flake Form Tragacanth
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Food Industry
6.2.2 Pharmaceuticals
6.2.3 Cosmetics
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Tragacanth Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Tragacanth Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Ribbon Form Tragacanth
9.6.2 Flake Form Tragacanth
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Food Industry
9.10.2 Pharmaceuticals
9.10.3 Cosmetics
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Ribbon Form Tragacanth
10.6.2 Flake Form Tragacanth
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Food Industry
10.10.2 Pharmaceuticals
10.10.3 Cosmetics
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Ribbon Form Tragacanth
11.6.2 Flake Form Tragacanth
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Food Industry
11.10.2 Pharmaceuticals
11.10.3 Cosmetics
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Ribbon Form Tragacanth
12.6.2 Flake Form Tragacanth
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Food Industry
12.10.2 Pharmaceuticals
12.10.3 Cosmetics
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Ribbon Form Tragacanth
13.6.2 Flake Form Tragacanth
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Food Industry
13.10.2 Pharmaceuticals
13.10.3 Cosmetics
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Tragacanth Market: Competitive Dashboard
14.2 Global Tragacanth Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Hawkins Watts
14.3.2 Lakrena International
14.3.3 Scents of Earth
14.3.4 Kachabo Gums
14.3.5 Triarco Industries Inc
14.3.6 Alfa Chemical Corp
14.3.7 Wizard’s Cauldron
14.3.8 Polygal AG
14.3.9 Hawkins Watts
