Global Tragacanth Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Tragacanth Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global tragacanth market report has been segmented on the basis of product type, application, distribution channel, and region.

Request Covid - 19 Impact


Global Tragacanth Market: Overview

Tragacanth is a reddish or white, tasteless, and odorless gum obtained from various plants such as Astragalus gummifer, Milkvetch, etc. Tragacanth is used in various kinds of toothpaste, denture adhesives, hand lotions, and vaginal jellies and creams. In addition, it is used for stabilizing ingredients in food such as salad dressings and act as binding agent in pharmaceutical products. Tragacanth is used as a stiffener in textiles and as a burnishing and edge slicking compound in vegetable-tanned leatherworking.

Global Tragacanth Market: Dynamics

Increasing demand for tragacanth from food sector in order to provide acid stability, longer shelf life, and salt compatibility in pourable dressings, is a major factor expected to drive growth of the global tragacanth market. In addition, tragacanth offers enhance flavorants along with less oil content and high composition of hydrocolloids. Rising adoption of tragacanth in pharmaceuticals as thickening agent across the globe is another factor expected to further fuel growth of the target market over the forecast period. Moreover, growing demand of tragacanth in cosmetics, owing to film forming properties and high viscosity are projected to drive growth of the target market. Adoption of tragacanth as sizing agent in textile industry to perform the bonding characteristics, growing population coupled with increasing spending capacity, are among some other factors expected to support revenue growth of the target market over the forecast period.

However, presence of alternatives for tragacanth such as xanthan gum owing to low level of microbial contamination which may hamper growth of the target market.

Global Tragacanth Market: Segment Analysis

Among the product type segments, the ribbon segment is expected to account for major revenue share in the global tragacanth market. This can be attributed to ribbon form of tragacanth are majorly used in the food, pharmaceutical, confectionery, and cosmetics application.

Among the application segments, the food segment is expected to account major revenue contribution, owing to its ability to perform as a thickening, emulsifying, stabilizing, mayonnaise products, sauces, and other beverages.

Global Tragacanth Market: Regional Analysis

Asia Pacific market is estimated to account for major share in terms of revenue in the global tragacanth market. In addition, Asia Pacific market is projected to register fastest growth rate over the forecast years, owing to increasing end-use application across the globe in countries in this region. China market is expected to account for significant revenue share in the region, whereas the India market is projected to register moderate growth rate over the forecast years. Growing population and rising health concerns which in turn is anticipated to drive growth of the global market in this region. North America market is expected to grow at a moderate growth rate over the forecast period, owing to increasing demand-supply of tragacanth used in industries such as petrochemical, foods, cosmetics and personal care industries in countries such as US and Canada.

Global Tragacanth Market Segmentation:

Segmentation by product type:

Ribbons
Flakes

Segmentation by application:

Pharmaceuticals & Medical
Foods
Personal Care & Cosmetics
Others (industrial uses including manufacturing of crayons & ceramics, leather curing, textile & paper processing and wood match manufacturing)

Segmentation by distribution channel:

Internet Retailing
Mass Retailers
Direct Selling