Carrageenan Market Size, Trends, Share, and Size

we are well-acquainted with the food industry and its processes such as gelling, stabilizing and condensing, especially in products such as dairy and meat. Now, the main product or ingredient used to carry out these processes is carrageenan. It is a significant salad ingredient, preservative in food, pharmaceuticals, special care and other industrialized applications.

The substance called carrageenan is a controlled food addictive, which is usually extracted from red algae; there are concerns over the amount of this substance can be used in food to preserve them.

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It might come as a surprise, but there’s a huge customer base for the product carrageenan. It has been observing a substantial growth over the past few years, and as of 2016, the global carrageenan market was worth $740 million which is estimated to grow at a CAGR of 5.4% and reach to $962.58 million by 2021.

Over the past few years, the global carrageenan market has been experiencing a substantial growth owing to various reasons and demands within the marketplace. A growing demand for the food and beverages sector, rising health concerns, along with an increasing demand for healthy food products, is expected to boost the global carrageenan market trends. However, certain factors posing as a hindrance to the growth of the global carrageenan market are gastrointestinal and inflammatory ailments.

On the other hand, the global market for carrageenan products can be divided into three major segments—Kappa, Lota, Lambda. Based on the varieties of applications, the market is segmented into – the Food Industry, pharmaceutical industry, and the cosmetics industry. The food industry can be further sub-divided into dairy, meat, beverages and pet food. Now, again, on the basis of this grade, the carrageenan market is divided into—refined carrageenan and semi-refined carrageenan. Going forward, the market is further subdivided, based on seaweed into Gigartina,Chondrus, Iridaea and Eucheuma. Pharmaceutical industry is one of the key end-use industries of carrageenan due to its expanding application as gelling agent.

The global carrageenan market share is spread out substantially across several geographical regions. It is segmented into Europe, North America, Asia-Pacific, Latin America, Middle East and Africa. There’s an increasing demand for processed food in Asia Pacific, which is driving the demand for carrageenan in the entire region. Humongous consumption of dairy products in Europe, is another factor driving the demand for carrageenan. Alternately, the European Union and Latin America also happen to be lump sum manufacturers of carrageenan, which is currently traded all over the world.

There are multiple players involved in the production of food grade carrageenan. Major players include names like AEP Colloids, Shemberg Marketing Corporation, Ingredients Solutions Inc., Gelymar SA, Soriano SA, Marcel Trading Corporation, Danisco A/S, Scalzo Food Industries, Altrafine Gums, TIC Gums Incorporation, Gum Technology Corporation, DuPont (U.S.), Cargill (U.S.), Kerry Group (Ireland), CP Kelco (U.S.), Ashland Inc (U.S.), Ingredion (U.S.), TIC Gums (U.S.) and Tate & Lyle (U.K.).

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