Carrageenan Market Global Size, Trend, Share, Leading Key Players Review and Industry Analysis 2023
Carrageenan Market Overview:
Carrageenan is a common food additive that is extracted from red edible seaweeds. It has a specific set of rheological properties that differentiate it from other hydrocolloids and is widely used as a natural ingredient used for thickening, emulsifying, and preservative in foods and drinks. The three commercially most important carrageenan are kappa carrageenan, lambda carrageenan, and iota carrageenan. Moreover, it has wide applications in both dairy and meat products due to its textural functionality. Growing demand for carrageenan in food and beverage industry as natural gelling, thickening and stabilizing agent is supporting the market growth.
Additionally, rising health concerns along with increasing demand for healthy processed food products is one of the major factor contributing to the growth of the carrageenan market. Furthermore, use of carrageenan in the cosmetic industry because of its has uplifted its demand at a global level owing to its physical & functional ability, and antioxidant activity. However, increasing concern over gastrointestinal and inflammatory disorders related to use of carrageenan in various food and beverage products among the consumers is likely to hinder the growth of carrageenan market.
By type, carrageenan market has been segmented into kappa carrageenan, lambda carrageenan, and iota carrageenan and others. Among all, the kappa carrageenan type is dominating the market due to the growing popularity of processed food products like cheese, chocolate, ice cream, and puddings. Iota carrageenan is used for ready-to-eat meals, and lambda carrageenan is used for whipped cream.
By application, carrageenan market has been segmented into foods, beverages, pharmaceuticals, and others. Among all, the food application will witness a higher growth rate as compared to pharmaceutical application. It is extensively used in dairy desserts, caramel sauces, dairy & non-dairy beverages, sauces, instant dry mixes and other meat applications.
Key Player & Industry News: The key players in the Global Carrageenan Market are Ina Food Industry Co Ltd. (Japan), MCPI Corp (Philippines), Caldic B.V. (Netherlands), Marcel Carrageenan (Philippines), Danlink Ingredients (Pty) Ltd. (South Africa), ACCEL Carrageenan Corporation (Philippines), and PT Fortuna Cahaya Cemerlang (Indonesia).
The report for Global Carrageenan Market by Market Research Future covers extensive primary research. This is accompanied by a detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.
Regional Analysis: The global carrageenan market is segmented into Europe, North America, Asia-Pacific, and the Rest of the World (ROW). Asia-Pacific market accounts for the major share followed by North America and Europe owing to increasing demand for immediate and processed food. In Asia-Pacific, China holds a major market share in higher consumption of carrageenan due to increasing application of carrageenan in confectioneries and frozen dairy products. China is the main exporter of carrageenan across the globe.
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