According to IMARC Group latest report titled “Tragacanth Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on tragacanth market share. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global tragacanth market size reached US$ 117.0 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 160.4 Million by 2032, exhibiting a growth rate (CAGR) of 3.57% during 2024-2032.

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Tragacanth is a natural gum obtained from the dried sap of several species of Middle Eastern legumes of the genus Astragalus, including A. gummifer and A. adscendens. This gum is known for its viscosity and thickening properties and is segregated into two types: ribbon and flake. Tragacanth gum has extensive applications in various industries, such as food and beverage, pharmaceuticals, textiles, and cosmetics. In the food industry, it acts as a stabilizer, thickener, and emulsifier. In pharmaceuticals, tragacanth is used as a binding agent in pills and lotions. Additionally, the gum's non-toxic, edible, and soluble in water properties make it a versatile and beneficial ingredient. The advantages of tragacanth include its high shelf life, natural composition, and suitability for gluten-free products, enhancing its appeal in diverse sectors.

Tragacanth Market Trends:

The global market is witnessing significant growth, fueled by the increasing demand for natural and organic ingredients in the food and beverage industry, with tragacanth being favored for its natural origin and minimal processing. Additionally, the pharmaceutical sector's expansion globally, coupled with the growing use of tragacanth as an excipient and binder in medicinal products, is further propelling the market. Along with this, the rising awareness of the health benefits associated with natural gums is augmenting their demand for dietary supplements. In addition, the versatility of tragacanth in cosmetic applications, particularly in hair and skin care products, is also contributing to market growth. Apart from this, advances in extraction and processing techniques are enabling higher quality and purity of tragacanth, making it more desirable. Furthermore, the expanding global economy and rising purchasing power in emerging markets are facilitating greater consumption of products containing tragacanth. These market dynamics, combined with the increasing preference for natural ingredients, are creating a positive market outlook.

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Competitive Landscape

The competitive landscape of the industry has also been examined along with the profiles of the key players operating in the market.

• F. Suter & Co. Ltd.
• AEP Colloids
• Hawkins Watts Limited
• Kachabo Gums
• Kantilal Brothers
• Polygal AG
• Scents of Earth Limited Liability Company

Key Market Segmentation:

Our report has categorized the market based on region, product type, application, and distribution channel.

Product Type Insights:

• Ribbons
• Flakes

Application Insights:

• Pharmaceuticals and Medical
• Foods
• Personal Care and Cosmetics
• Others

Distribution Channel Type Insights:

• Internet Retailing
• Mass retailers
• Direct Selling

Regional Insights:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, South Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Key Highlights of the Report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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