Tragacanth Market Analysis of Top Key Player Forecasts To 2021
The Global Tragacanth Market is worth USD xx
million in 2016 and estimated to grow at a CAGR of xx.xx%, to reach USD xx
million by 2021. The global Tragacanth market is developing at an exceptionally
quick pace.
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Market data tables and in-depth TOC of the Global Tragacanth Market to 2021 @ https://www.marketdataforecast.com/market-reports/tragacanth-market-5116/
Gum tragacanth is an odorless, tasteless,
viscous, water-soluble mixture of polysaccharides which is obtained from sap
that is drained from the root of the plant and dried. The gum seeps from the
plant in twisted ribbons or flakes which are powdered. It absorbs water to
become a gel, which can be converted into a paste. Tragacanth is widely used as
a demulcent for cold and cough and is also for diarrhea treatment. It is also
used to lower the blood sugar level.
The significant drivers are wide range of
applications ranging from food to pharmaceutical, rising demand for tragacanth
gum, growing urbanization, and increasing disposable incomes. Also increasing
application of tragacanth in cosmetics, pharmaceuticals and textile industry is
further expected to boost the industry. In pharmaceutical sector tragacanth is
used in oral ingestion, toothpastes, mineral & fish oil emulsion and other
external lotions such as body lotions, hand lotions etc. However availability
of substitute product like xanthan gum limits the growth of Tragacanth market.
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The global Tragacanth market
is segmented on the basis of product type, application type, distribution
channels and region. Based on product type the market is segmented into ribbons
and flakes. Ribbons had largest market share owing to superior quality over
flakes. Based on application type the market is segmented into pharmaceuticals
& medical, foods, personal care & cosmetics and others. Foods segment
had the largest share followed by pharmaceutical industry. Based on
distribution channel the market is segmented into Internet Retailing, Mass
Retailers, Direct Selling, and others.
Geographically, the
Tragacanth market is segmented into North America, Europe, Asia-Pacific, Latin
America and Middle East and Africa. North America is expected to have the
largest share. Asia Pacific is expected to have high growth rate. Iran and
Turkey are major producers of tragacanth.
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Kachabo Gums, Lakrena
International, Hawkins Watts Limited, Scents of Earth, Alfa Chemical Corp. and
Wizard’s Cauldron, Inc. are the leaders in the global Tragacanth market.
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