Market Scenario
The global Carrageenan Market is presumed to expand at a significant CAGR during the forecast period (2022-2030) owing to the growing demand for healthy processed food products, asserts Market Research Future (MRFR). Carrageenan is referred to a food additive extracted from red edible seaweeds. Carrageenan has a set of rheological properties which differentiate it from other hydrocolloids and is extensively used as a natural ingredient for emulsifying, thickening, and preservatives in drinks and food items. Carrageenan is widely used in meat and dairy products owing to its textural functionality.
What would be the carrageenan industry CAGR during the forecast period (2022-2030)?
Carrageenan market CAGR would be 5.8% during the forecast period.
Drivers and Constraints Impacting the Market
Carrageenan is found in three forms such as lambda carrageenan, kappa carrageenan, and iota carrageenan. Carrageenan is highly required in the food and beverage industry as natural gelling, stabilizing, and thickening agent. The growing health concerns coupled with rising demand for healthy processed food products is one the major factors propelling the market growth over the assessment period. Carrageenan also has properties such as antioxidant activity and physical and functional ability due to which it finds its application in the cosmetic industry. This is likely to augment the market growth during the assessment period.
On the flip side, growing concern of inflammatory and gastrointestinal disorder associated with the use of carrageenan in several food and beverage products is estimated to hamper the market growth during the assessment period.
Global Carrageenan Market: Segmental Analysis
The global Carrageenan Market Report has been segmented on the basis of product type, application, and region.
By mode of type, the global carrageenan market research has been segmented into kappa carrageenan, iota carrageenan, lambda carrageenan, and others. Among these, the kappa carrageenan type is considered to dominate the global market owing to the increasing popularity of processed food products such as chocolate, cheese, puddings, and ice cream. On the other hand, lambda carrageenan is used for whipped cream and iota carrageenan is used for ready-to-eat meals.
By mode of application, the global carrageenan market has been segmented into beverages, food items, pharmaceuticals, and others. Among these, the food items segment is estimated to register the highest growth rate compared to pharmaceutical applications. Carrageenan is highly used in dairy desserts, caramel sauces, instant dry mixes, sauces, dairy & non-dairy beverages, and other meat applications, thereby driving the segment.
Regional Insights
Geographically, the carrageenan market span across regions namely, Europe, North America, Asia Pacific, and Rest-of-the-World (RoW).
Among all the regions, Asia Pacific is considered to hold the major share followed by North America and Europe. The growth is attributed to the rising demand for processed and immediate food in this region. China holds the major market share in the Asia Pacific region owing to growing application of carrageenan in frozen dairy products and confectioneries.
On the other hand, the European region is also a large producer of food-grade carrageenan which is exported all over the world.
Industry News
September 06, 2022: DuPont Nutrition & Health's technical has recently developed a formulation based on a new generation of stable low-pH carrageenan in order to meet industry and consumer demand for cleaner labels. The DuPont Nutrition & Health Innovation team has explored several extracts and production methods and has come up with the ideal formulation through Lactogel FC 5200, which allows carrageenan to be used in low pH products.
Competitive Dashboard
The major players operating the global market are Caldic B.V. (Netherlands), Danlink Ingredients (Pty) Ltd. (South Africa), ACCEL Carrageenan Corporation (Philippines), PT Fortuna Cahaya Cemerlang (Indonesia), Ina Food Industry Co Ltd. (Japan), Marcel Carrageenan (Philippines), and MCPI Corp (Philippines).
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