The report of Carrageenan Market by Type (Kappa, Lota, Lambda), Function (Thickener, Stabilizer, Gelling Agent, Others), Application (Food (Bakery, Confectionery, Meat & poultry products, Sauces & dressing, Beverage, Dairy products, Others), Pharmaceuticals, Others), Grade (Semi-refined Carrageenan (SRC), Refined Carrageenan (RC)), and Region (North America, Asia Pacific, Europe, South America, and Middle East & Africa) is expected to reach US$ XX Bn by 2027, at a CAGR of 7.55% during the forecast period.
Growing demand for processed foods, which has translated into a rapidly growing seaweed market to meet the demand for carrageenan and agar, which are derived from red seaweeds and are used as thickening agents within processed food and other products. The major players in the carrageenan market can find opportunities in non-food based applications, like pharmaceuticals and personal care to grow, as natural ingredients are favored by many people.
On the other hand, several health effects related to carrageenan and the possibility to trigger bloating, glucose intolerance, inflammation to lead alarming usage and are expected to hinder the growth of the global market throughout the forecast period. In recent times, some government organizations, such as the National Organic Standards Board voted to eliminate the carrageenan from their approval list and foods with carrageenan shall no longer be labeled as USDA organic. This may further affect the consumption of carrageenan.
According to the application, the food segment will account for the largest share of the carrageenan market because of increasing awareness of the health benefits related to this product. Moreover, the report also offers a precise prediction of the contribution of the different segments to the growth of the carrageenan market size.
Region-wise, Asia-Pacific is the leading carrageenan market, attributable to the existence of the major carrageenan producing nation Indonesia and the Philippines and the major exporter China in the region. Such as, Indonesia ranks second in the world for seaweed production, and first in the world for red seaweed farming with the later experiencing noteworthy growth over the last decade. Whereas Sulawesi is the current seaweed production center in Indonesia.
Also, North America and Europe are the next largest carrageenan markets, accordingly. The demand for carrageenan from the confectionery industry for chocolate manufacturing drives the growth of the North American carrageenan market. In Europe, the demand for processed food and dairy products drives the growth of the market, though Europe relies heavily on imports from the Asia-Pacific region for their carrageenan necessities.
Key players operating in the Carrageenan Market are Mcpi Corporation Carrageenan, Marcel Trading Corporation, ACCEL Carrageenan Corporation, TBK Manufacturing Corporation, Cargill, Incorporated, Caldic B.V., Ina Food Industry Co., Ltd., Danlink Ingredients (Pty) LTD., AEP Colloids Inc, Ingredients Solutions Inc, Gelymar, Scalzo Trading Co Pty Ltd, FMC Corporation., CP Kelco U.S., Inc, W Hydrocolloids Inc, ZAMBOANGA CARRAGEENAN, Devson Impex Private Limited, AquAgri Processing Private Limited, Aquarev Industries, Innovative Food Solutions LAUTA, and among others.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Carrageenan Market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Global Carrageenan Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Carrageenan Market positioning of competitors.
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