IMARC Group, a leading market research company, has recently releases report titled “Carrageenan Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” The study provides a detailed analysis of the industry, including the global carrageenan market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
What is the Prediction for the market of Carrageenan?
Growth rate (2022 to 2027)
CAGR of 6.66%
Base Year of the Analysis
What is Carrageenan?
Carrageenan represents a group of water-soluble sulphated polysaccharides that are extracted from aqua-based red algae or seaweed, post-cleansing foreign matter and removing residue through filtration. During product refining, it undergoes several processes, including drying, milling, alcohol precipitation, and gel press solutions that dewater the gel. Carrageenan provides antioxidant support, ensures gastric discomfort management, and helps treat coughs, bronchitis, tuberculosis, and intestinal problems. Apart from this, it maintains nutritional values, enhances product flavors, reduces food wastage, and extends its shelf life. As a result, carrageenan is used to thicken, emulsify, and preserve dairy, food, and meat products and beverages.
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What Are the Growth Prospects and Trends in the Carrageenan Market?
The rapid expansion in the food and beverage (F&B) sector and the increasing consumption of ready-to-eat (RTE) food and beverages have intensified the widespread adoption of carrageenan as an emulsifying and stabilizing agent, which is primarily driving the market growth. Such products prevent product spoilage; therefore, it finds extensive applications in non-dairy confectionery and bakery goods. Additionally, the shifting consumer inclination toward plant-derived food and pharmaceutical commodities over animal-derived ingredients, such as gelatin, due to the emerging trend of veganism is supplementing the product demand in the market. Moreover, the extensive utilization of pharmaceutical carrageenan as an inactive excipient and binder in personal care and cosmetic products and novel drugs is propelling the market growth. Apart from this, the large-scale incorporation of carrageenan as a gelling agent in air fresheners and deodorants to control the item’s fluidity and ongoing product diversification by key players is supporting the market growth.
Who Are the Key Players Operating in the Carrageenan Industry?
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- ACCEL Carrageenan Corporation
- Aquarev Industries
- Cargill Incorporated
- CP Kelco U.S. Inc. (J.M. Huber Corporation)
- DuPont de Nemours Inc.
- Ingredion Incorporated
- LAUTA Ltd.
- Marcel Carrageenan
- MCPI Corporation
- TBK Manufacturing Corporation.
What is Included in Market Segmentation?
The report has categorized the market based on product, function and application.
Breakup by Product:
Breakup by Function:
- Gelling Agent
Breakup by Application:
- Food and Beverage
- Personal Care and Cosmetics
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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