15 July 2019 –
The Global Carrageenan Market is anticipated
to grow at a significant CAGR of close to 8% in the upcoming period as the
scope, product types, and its applications are increasing across the globe.
Carrageenan is a hydrocolloid derived from red seaweed. It is mainly used as a
constituent in several food products, such as dairy, bakery, meat products, and
sauces. The factors that propel the growth of the carrageenan market include
the alternative to animal-sourced gelatin, growing demand for hydrocolloids,
rising of processed foods. On the other hand, there are factors that may hamper
the growth of the market including the availability of substitutes and changing
raw material prices and the high cost of products.
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The key applications that could be explored in the
carrageenan market include Pharmaceuticals, Food may further comprise as
Confectionery, Bakery, Meat & poultry products, Sauces & dressing,
Beverage, Dairy products and others. The “Food and Beverages” segment led the
carrageenan market in 2017 and will continue to lead in the forecast period.
The key factors that could be attributed to the growth of market such as it is
extensively used in water-based desserts, fruit preparation and it stabilizes
ice creams. Also, used for desired texture to confectionary products and
increasing application of carrageenan in meat products to regulate water
content.
Some of the key players that fuel the growth of the market
comprise BLG Shanghai & Zhejiang Plants, Kachabo Gums, Marinalg
international, Scalzo Food Industries, Altrafine Gums, FMC Corporation, TIC
Gums Incorporation, Cargill Inc and Gum Technology Corporation. The leading
companies are taking up partnerships, mergers and acquisitions, and joint
ventures in order to boost the inorganic growth of the industry.
Carrageenan Breakdown
Data by Type
• Kappa-carrageenan
• Iota-carrageenan
• Lambda carrageenan
• Others
Carrageenan Breakdown
Data by Application
• Food Industry
• Daily Chemical Industry
• Pharmaceutical Industry
• Biochemistry
• Others
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