Tragacanth Market Size, Share, Industry, Forecast and outlook (2024-2031)

Tragacanth Market is Segmented By Product (Ribbons, Flakes), By Application (Foods, Pharmaceutical, Personal Care & Cosmetics, Others), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis 2024 - 2031

Tragacanth Market Overview

Report on Global Tragacanth analyses the market size, shares, recent trends, competitive intelligence, and future market outlook. Tragacanth usage in toothpaste, jellies and vaginal creams production is on the rise. Demand from foods, cosmetics, personal care, and pharmaceutical industries in North America is booming. Competitive rivalry intensifies with Kachabo Gums, Lakrena International, Arthur Branwell and others operating in the market.

Tragacanth is generally a natural gum that is obtained from the dried fluid of different species of legumes such as gummifer, brachycalyx, tragacanth, and adscendens. The tragacanth gum is also referred to as gum dragon or shiraz gum, shiraz gum elect. Iran is the major producer of high-quality gum. It has been widely utilized as a demulcent in cough and cold cases and to handle diarrhea. Furthermore, it is also useful to reduce the level of blood sugar. Moreover, it is also utilized as an ingredient in toothpaste, jellies and vaginal creams, denture adhesives, and hand lotions. Similarly, it plays an important role in stabilizing and thickening ingredients in salad dressings, beverages, and foods. The tragacanth is largely utilized in pharmaceutical product as a binding agent.

Tragacanth Market Summary

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Tragacanth Market Trends and Dynamics

A broad range of applications extends from pharmaceutical to food is expected to drive the market growth

A broad range of applications extends from pharmaceutical to food, increasing demand for tragacanth gum, rising disposable income, and increasing urbanization. Furthermore, rising demand from the food industry as a thickening agent along with rising use in cosmetics and pharmaceuticals as a binding agent is likely to propel the growth of the tragacanth market in the years to come. Growing application opportunity as a sizing agent in the textile industry to enhance the bonding characteristics between resin systems and handling ability is also encouraging the market demand. Moreover, the demand for tragacanth is rising, in pourable dressings as a stabilizing agent attributed to its high shelf life, salt compatibility and acid stability. Furthermore, improved pourable dressing flavorants along with the less oil content and superior composition of hydrocolloids is anticipated to trigger the demand for tragacanth. 

Market Segmentation

The artificial segment accounted for the largest share, holding about XX% of the global market

By Application, the food industry is the largest application segment for the market and is expected to be exhibited strong growth in the years to come on account of growing demand for tragacanth gum as a thickening, emulsifying agent, suspending, and stabilizing in pourable dressing, mayonnaise products, sauces, low-calorie milkshakes, and other beverages. Pharmaceutical application accounted for the second-largest market share for global tragacanth in 2020 on account of growing tragacanth use in mineral & fish oil emulsion, toothpaste, oral ingestion, and other external lotions including hand lotions and body lotions. Increasing demand from the cosmetics and personal care industry are further likely to complement the growth of the market in the upcoming years. 

Global Tragacanth Market Geographical Share

North America is the largest market for tragacanth with a share of nearly XX% in global sales value in 2022

By geography, North America accounted for the largest share in 2020 and is anticipated to be the dominating regional market within the projected year. Extraordinary demand from North America is credited to the large-scale investments made by producers due to the rising demand for tragacanth across the globe. The main importing countries such as European countries, Japan the Soviet Union, and the U.S. rising demand from these countries have been growing in the past decades on account of a growing gap between demand-supply for natural gums which is widely utilized in rising end-use industries such as foods, cosmetics, personal care, and pharmaceutical industries. Asia Pacific is estimated to exhibit the fastest growing regional market for global tragacanth market due to the emerging economies including India, South Korea, and China providing opportunities to grow for the players in tragacanth manufacturing and marketing to expand their market share and revenue base.

Source: DataM Intelligence Analysis (2021)

Tragacanth Companies and Competitive Landscape

The global tragacanth market is competitive with the presence of many formulators. Some of the major players of the market include Hawkins Watts Limited, Wizard’s Cauldron, Inc., Kachabo Gums, Colony Gums, Lakrena International, Polygal AG, Scents of Earth, Arthur Branwell, Alfa Chemical Corp., Neostar United, Hawkins Watts, and Kachabo Gums, among others. They have increased the market through with their product offerings. Constant invention to launch innovative products, with innovative technology is the major competitive factor in the market. For instance, in March 2021, Hawkins Watts Limited Group has announced the development of stress-free solutions, Hawkins Watts also supports customer innovation efforts in other ways by providing insightful trend analysis on what is gaining traction in the food and beverage industry.

COVID-19 Impact on Tragacanth Market

The market witnessed a negative impact 

The global tragacanth industry has yet again been negatively impacted by the onset of the second wave of COVID-19 and the outlook is volatile. After the second wave of the pandemic, several countries’ governments and local authorities had imposed lockdowns to contain the spread of COVID-19. The restrictions started to lift from June in several countries. Covid-19 again hit the global market for tragacanth during the second and third COVID wave at the start of the 2021 year, which is again negatively impacted, and the outlook is volatile. Manufacturing activities have been hampered in various countries of Europe and other regions due to the regulation imposed by various governments which impacted the transport, but the production of tragacanth is back to normal condition after lockdown across the globe. The influence of COVID-19 is a lot higher on the developed countries, the multination firms would focus their strategies and energies more on these countries as compared to the poor and developing countries. 

Why Purchase the Report?

• Understand the current market scenario and viability of global tragacanth over the forecast period 
• Visualize the composition of the global tragacanth market in terms of product type and application to identify major players, growth potential, and market strategies
• Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period
• Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining to the market

What we offer?

• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
• Excel data sheet with valuable data points of the global tragacanth market Regional and Country level segmentation
• Product mapping in excel for the key products of all major market players
• Market Share Analysis covering business revenues ($) and revenue share (%) of key market players

Target Audience:

• Tragacanth Manufacturer
• Food Industry
• Pharmaceutical Industry
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Research Professional