(Entertainment-NewsWire.com, January 23, 2018 ) 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.
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.
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.
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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