Carrageenan Market to Witness Growth at a CAGR of 6.0% During the Forecast Period 2022-2028

Posted on 2022-09-01 by researchinsights in Food & Beverage // 0 Comments

San Francisco, California , USA, Sept 01, 2022 — /EPR Network/ —

Carrageenan Industry Overview

The global carrageenan market size was valued at USD 780.5 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.0% from 2020 to 2028.

Increasing product penetration in dairy and processed meat products on account of carrageenan’s mouth feel characteristics to imitate fatty feeling is expected to boost the market growth over the forecast period. The primary factor contributing to the wide usage of carrageenan in the food industry is its capability to bind with water and enhance the properties of food ingredients. A rising preference for food and pharmaceutical products with ingredients derived from plant sources instead of animal-derived ingredients, such as gelatin, is likely to increase the product demand.

Gather more insights about the market drivers, restrains and growth of the Global Carrageenan market

The U.S. accounted for the largest revenue share in 2020 in the North American market. The U.S. is a mature market for processed food products having a large food manufacturing base in the country, making the product a highly in-demand additive for food processing applications, as a thickening and gelling agent.

The product is majorly utilized as a viscosity control agent in personal care products and water-based cosmetics due to its water-binding capacity. It functions as a thickening, stabilizing, and suspending agent in sunscreens, lotions, and body washes. For instance, products such as L’Oréal’s Pure-clay Glow-mask and Natural Moisturizing Lubricant of DreamBrands Inc. contain carrageenan.

The cultivation of the product has led to positive socio-economic development in coastal countries. In the Asia Pacific, carrageenan cultivation and processing are increasing particularly in Southeast Asian countries due to favorable climatic conditions. Technologies such as semi-refined type processing are widely used by small and medium-scale players in these countries owing to comparatively easier processes and lower processing costs.

In this industry, product differentiation depends on raw material and extraction processes followed. Kappa and iota types are suitable for use as gelling agents, whereas lambda is majorly used as a thickening agent as it does not have the ability to form a gel. For instance, Cargill, Incorporated has developed Satiagel ADG 0220 Seabird carrageenan that can be used for gelled dairy desserts. The company has further diversified the product range by developing Seabrid carrageenan, which can be utilized for creamy dairy desserts as a texturizing agent.

It is further being considered as a treatment against COVID-19 due to its antiviral properties. In December 2020, a clinical trial was initiated collaboratively by the Cardiff University, Marinomed Biotech AG, Walgreens Boots Alliance, and Abertawe Bro Morgannwg University Health Board for analyzing the efficacy of carrageenan nasal and throat spray against COVID-19.

Browse through Grand View Research’s Food Additives & Nutricosmetics Industry Research Reports.

Functional Mushroom Market – The global functional mushroom market size was valued at USD 24.97 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.5% from 2022 to 2028.
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Carrageenan Market Segmentation

Grand View Research has segmented the global carrageenan market on the basis of processing technology, function, product type, application, and region:

Carrageenan Processing Technology Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2028)
- Alcohol Precipitation
- Gel Press
- Semi-refined
Carrageenan Function Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2028)
- Thickening Agent
- Gelling Agent
- Stabilizer
- Others
Carrageenan Product Type Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2028)
- Kappa
- Iota
- Lambda
Carrageenan Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2028)
- Food & Beverage
- Pharmaceutical
- Personal Care & Cosmetics
- Others
Carrageenan Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2028)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa

Key Companies profiled:

Some prominent players in the global Carrageenan market include

DuPont
Ingredion Incorporated
Ashland
CP Kelco U.S., Inc.
Cargill, Inc.
Ceamsa
W Hydrocolloids, Inc.
Gelymar
Caldic B.V.
Ina Food Industry Co. Ltd.
PT. Gumindo Perkasa Industry
ACCEL Carrageenan Corporation
BLG
MCPI Corporation
AEP Colloid
Marcel Carrageenan
TBK Manufacturing Corporation
Shemberg Ingredients and Gums Corporation
Prinova Group LLC
LAUTA Ltd.
Aquarev Industries
Bang &Bonsomer
AgargelIndustria e ComercioLtda
Zhenpai Hydrocolloids Co., Ltd.
Tate & Lyle

Order a free sample PDF of the Carrageenan Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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