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Global Carrageenan Market Insight
2022-01-05 Comments

According to the World Knowledge Information (WKI) Global Carrageenan Professional Survey Report 2021, Forecast to 2026, global carrageenan market has expected to grow at a CAGR of 5.8% during the forecast period. The main reason for the market growth is the increasing demand for thickeners and gelling agents. Carrageenan is widely used in the pharmaceutical industry, personal care and cosmetics industry, food industry and beverages to promote the active development of the carrageenan market.

Analysts’ Viewpoint:
“As people pay more attention to food health, the market for natural thickeners will continue to increase. Healthier food supplements and nutritious foods will be deeply loved by consumers. Market participants should seize the opportunity to carry out product innovation and development on a large scale, and determine product positioning to occupy a favorable market position.” said Bella, a senior analyst at the WKI Chemical and Materials Market Research Center.

Market insight:
People’s awareness of processed food ingredients is increasing, which promotes the growing market demand for processed foods and the growing demand for healthy organic ingredients. Carrageenans are widely used in the food industry, for their gelling, thickening, and stabilizing properties. Their main application is in dairy and meat products, due to their strong binding to food proteins. Increasing use of natural food-grade thickeners is also one of the important factors driving the growth of the carrageenan market. The surge in healthy and nutritious foods and the continued demand for carrageenan as a thickener may also support market growth.

However, some experts believe that it is unsafe to use carrageenan in organic or other infant formula. In some countries, carrageenan is only allowed to be used in food additives. Various health effects related to carrageenan will hinder the growth of the global carrageenan market.

Competition Landscape:
There are many participants in the carrageenan market, and leading companies have a certain degree of influence in the global market due to their geographical advantages. Some prominent players in the global carrageenan market include DuPont, Cargill, Inc., Caldic B.V., Ina Food Industry Co. Ltd., MCPI Corporation, and others.

Segmentation of Carrageenan Market:
Based on the type, the market has been divided all across the globe based on the type into a lambda, iota, and kappa. Among them, kappa has the largest market segment. Kappa type is mainly used in the food industry. It is the most used type in cheese, chocolate, and ice cream products. Kappa carrageenan is known for its gelling ability and can be used as an emulsifier in dairy products and ice cream.

Based on the application, the carrageenan market has been divided into personal care, pharmaceuticals, food and beverages, and many others. The food and beverage industry dominated the market. Carrageenan finds application in bakery, dairy, and meat products and beverages. Carrageenan is added to these products to alter viscosity or texture, which in turn improves their sensory properties.

Carrageenan Market: Regional Analysis
The largest market share in the global market is held by the European region in terms of volume and value and hence it dominates in the global market. One of the important factors for the growth of the European market is the increase in consumer intake of processed foods. Changes in the lifestyles of European consumers have promoted the demand for processed foods and accelerated the growth of the carrageenan market.

Cagr: 5.8%
Largest share area:Europe
Largest share country:UK