Carrageenan Market Overview
Carrageenan is produced from several red algae or seaweeds. Carrageenan has several applications in the food & beverages industry. The global Carrageenan Market is projected to be valued at USD 1,250.2 million by the end of 2024, with 5.65% CAGR during the forecast period, 2019–2024.
Carrageenan (also known as carrageenin) comes under the family of linear sulphated polysaccharides which are extracted from red edible seaweeds and are broadly used in the food industry. The basic properties of Carrageenan are thickening, gelling and stabilizing and suspending agents in milk and water system. Carrageenans are widely used in the food industry applications such as dairy products and meet product as they are having a strong binding of food proteins. Carrageenan mostly found in the Atlantic Ocean near the shore of UK and North America. Carrageenans are classified into three types namely; Iota, Kappa and Lambda.
Global Carrageenan Market Key Players
Key players leading the global carrageenan market include Caldic B.V. (Netherlands), MCPI Corp (Philippines), Marcel Carrageenan (Philippines), Danlink Ingredients (Pty) Ltd. (South Africa), Ina Food Industry Co Ltd. (Japan), PT Fortuna Cahaya Cemerlang (Indonesia), and ACCEL Carrageenan Corporation (Philippines) among others.
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Global Carrageenan Market – Segmentation
For enhanced understanding, the report has been segmented into three key dynamics.
By Type: Kappa Carrageenan, Lambda Carrageenan, and Iota Carrageenan among others.
By Application: Foods, Beverages, and Pharmaceuticals among others.
By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
Carrageenan Market: Applications
Carrageenans are mostly found in the Atlantic oceans near to North America and Europe. Carrageenans are widely used in food industries such as dairy products and meet products and very rich source of proteins. Moreover, the carrageenan are used in other industries for thickening, gelling and stabilizing. These all factors are creating a huge demand for carrageenan.
Global Carrageenan Market: Regional Analysis
Europe and Asia-Pacific are considered as the key market for global carrageenan market. Increasing demand for processing food and meet products in APAC region has witnessed the huge demand for carrageenan and in Europe the dairy products are given so much of preferences which have anticipated the demand for this particular product. The Asian countries such as China, India, Japan, Indonesia, Russia and several others have projected to drive the market because of the wealthy and emerging economy. And China is considered to the largest market in APAC region because of the strong industrialization. These factors has resulted the carrageenan market to have a commendable growth in future. North America is considered to the largest market for carrageenan. Middle East & Africa is one of the most preferred meet and processed food consumption region.
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