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Global Tragacanth Gum Market to reach USD XX billion by the end of 2030

Global Tragacanth Gum Market Size study & Forecast, by Source (Astragalus gummifer, Others), by Application (Food and Beverages, Pharmaceuticals, Cosmetics and Personal Care, Textile Printing), by Grade (Food Grade, Pharmaceutical Grade, Industrial Grade) and Regional Analysis, 2023-2030

Product Code: OIRFB-51953045
Publish Date: 27-06-2023
Page: 200

Global Tragacanth Gum Market is valued approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. Tragacanth gum is a natural gum obtained from the sap of various species of Astragalus plants, particularly Astragalus gummifer. It is primarily used as a thickening and stabilizing agent in various industries, including food and beverages, pharmaceuticals, cosmetics, and textile printing. The major driving factors for the Global Tragacanth Gum Market are increasing demand for tragacanth gum in the food and beverage industry, growing demand for tragacanth gum in the pharmaceuticals industry and rising demand for tragacanth gum in the cosmetics industry. Moroever, increasing awareness about the benefits of natural and organic products and rising disposable income is creating lucrative growth opportunity for the market over the forecast period 2023-2030.

The rising disposable income of consumers is also driving the demand for tragacanth gum. This is because tragacanth gum is a premium product that is used in high-end products. In the United States, disposable income per capita increased by 5.4% in 2021, after increasing by 3.3% in 2020. Similarly, in China, disposable income per capita increased by 9.1% in 2021, after increasing by 5.9% in 2020. Along with this, in India, disposable income per capita increased by 10.3% in 2021, after increasing by 7.6% in 2020. However, the high cost of Tragacanth Gum stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Tragacanth Gum Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific is the largest market for tragacanth gum, accounting for a major share of the market. The growth of the market in Asia Pacific is attributed to the increasing demand for tragacanth gum in the food and beverage industry, pharmaceuticals, and cosmetics industries. The rising disposable income and growing awareness about the benefits of natural and organic products are also driving the growth of the market in this region. Latin America and Middle East & Africa are the two fastest-growing markets for tragacanth gum. The growth of the market in these regions is attributed to the increasing demand for tragacanth gum in the food and beverage industry, pharmaceuticals, and cosmetics industries. The rising disposable income and growing population are also driving the growth of the market in these regions.

Major market player included in this report are:
Iran Tragacanth Co. (Iran)
Marudhar Gum (India)
Herbstreith & Fox KG Pektin-Fabriken (Germany)
P.L. Thomas & Co., Inc. (United States)
Tara Gum International (United States)
S.A. Ajinomoto OmniChem N.V. (Belgium)
Supreme Gums Pvt. Ltd. (India)
Fenchem Biotek Ltd. (China)
R.P. Gum & Chemicals Ltd. (India)
Neelkanth Polymers (India)

Recent Developments in the Market:
Ø Tragacanth Gum USA has launched a new line of tragacanth gum products in 2022, including a food-grade gum, a cosmetic-grade gum, and a pharmaceutical-grade gum.

Global Tragacanth Gum Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Source, Application, Grade, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Source offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Source:
Astragalus gummifer
By Application:
Food and Beverages
Cosmetics and Personal Care
Textile Printing
By Grade:
Food Grade
Pharmaceutical Grade
Industrial Grade

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Tragacanth Gum Market, by Region, 2020-2030 (USD Billion)
1.2.2. Tragacanth Gum Market, by Source, 2020-2030 (USD Billion)
1.2.3. Tragacanth Gum Market, by Application, 2020-2030 (USD Billion)
1.2.4. Tragacanth Gum Market, by Grade, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Tragacanth Gum Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Tragacanth Gum Market Dynamics
3.1. Tragacanth Gum Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing demand for tragacanth gum in the food and beverage industry Growing demand for tragacanth gum in the pharmaceuticals industry Rising demand for tragacanth gum in the cosmetics industry
3.1.2. Market Challenges High Cost of Tragacanth Gum
3.1.3. Market Opportunities Increasing awareness about the benefits of natural and organic products Rising disposable income
Chapter 4. Global Tragacanth Gum Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Tragacanth Gum Market, by Source
5.1. Market Snapshot
5.2. Global Tragacanth Gum Market by Source, Performance – Potential Analysis
5.3. Global Tragacanth Gum Market Estimates & Forecasts by Source 2020-2030 (USD Billion)
5.4. Tragacanth Gum Market, Sub Segment Analysis
5.4.1. Astragalus gummifer
5.4.2. Others
Chapter 6. Global Tragacanth Gum Market, by Application
6.1. Market Snapshot
6.2. Global Tragacanth Gum Market by Application, Performance – Potential Analysis
6.3. Global Tragacanth Gum Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
6.4. Tragacanth Gum Market, Sub Segment Analysis
6.4.1. Food and Beverages
6.4.2. Pharmaceuticals
6.4.3. Cosmetics and Personal Care
6.4.4. Textile Printing
Chapter 7. Global Tragacanth Gum Market, by Grade
7.1. Market Snapshot
7.2. Global Tragacanth Gum Market by Grade, Performance – Potential Analysis
7.3. Global Tragacanth Gum Market Estimates & Forecasts by Grade 2020-2030 (USD Billion)
7.4. Tragacanth Gum Market, Sub Segment Analysis
7.4.1. Food Grade
7.4.2. Pharmaceutical Grade
7.4.3. Industrial Grade
Chapter 8. Global Tragacanth Gum Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Tragacanth Gum Market, Regional Market Snapshot
8.4. North America Tragacanth Gum Market
8.4.1. U.S. Tragacanth Gum Market Source breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030 Grade breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Tragacanth Gum Market
8.5. Europe Tragacanth Gum Market Snapshot
8.5.1. U.K. Tragacanth Gum Market
8.5.2. Germany Tragacanth Gum Market
8.5.3. France Tragacanth Gum Market
8.5.4. Spain Tragacanth Gum Market
8.5.5. Italy Tragacanth Gum Market
8.5.6. Rest of Europe Tragacanth Gum Market
8.6. Asia-Pacific Tragacanth Gum Market Snapshot
8.6.1. China Tragacanth Gum Market
8.6.2. India Tragacanth Gum Market
8.6.3. Japan Tragacanth Gum Market
8.6.4. Australia Tragacanth Gum Market
8.6.5. South Korea Tragacanth Gum Market
8.6.6. Rest of Asia Pacific Tragacanth Gum Market
8.7. Latin America Tragacanth Gum Market Snapshot
8.7.1. Brazil Tragacanth Gum Market
8.7.2. Mexico Tragacanth Gum Market
8.8. Middle East & Africa Tragacanth Gum Market
8.8.1. Saudi Arabia Tragacanth Gum Market
8.8.2. South Africa Tragacanth Gum Market
8.8.3. Rest of Middle East & Africa Tragacanth Gum Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Iran Tragacanth Co. (Iran) Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. Marudhar Gum (India)
9.3.3. Herbstreith & Fox KG Pektin-Fabriken (Germany)
9.3.4. P.L. Thomas & Co., Inc. (United States)
9.3.5. Tara Gum International (United States)
9.3.6. S.A. Ajinomoto OmniChem N.V. (Belgium)
9.3.7. Supreme Gums Pvt. Ltd. (India)
9.3.8. Fenchem Biotek Ltd. (China)
9.3.9. R.P. Gum & Chemicals Ltd. (India)
9.3.10. Neelkanth Polymers (India)
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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