Carrageenan Market: Information by Type (Kappa, Iota, Lambda), Application (Food and Beverage, Cosmetic Industry, Pharmaceutical), and Region — Forecast till 2029

Carrageenan is a polysaccharide, which is naturally derived from red algae or seaweeds and is used as an additive for food preparations. The demand for carrageenan is rising significantly on account of the shifting preference towards processed foods. Carrageenan is widely used as an excipient in the pharmaceutical industry. In the cosmetic industry, its salts, such as calcium carrageenan, potassium carrageenan, and sodium carrageenan, are used in the formulation of a variety of cosmetic products, including dentifrices, shampoos, shaving creams, and cleansing products. However, it is believed that the consumption of carrageenan can result in serious health problems, such as inflammation, bloating, irritable bowel disease, and even colon cancer, which might hamper the market growth during the forecast period.

Carrageenan Market: Segmentation

Rising Number of Health-Conscious Consumers to Drive the Demand for Kappa-Based Carrageenan

Kappa is the most widely used carrageenan in the market and is extensively used as a gelling agent in dairy products. It is added to cottage cheese and ice creams in order to prevent the separation of whey and control the texture of the ice cream. Additionally, it can also be used with locust bean gums to strengthen the gels and make them less elastic. The increase in the demand for dairy products in recent years, which is primarily driven by the growing population, increasing per capita income, and rising number of health-conscious consumers, foster the segment growth.

Like kappa, the Iota-carrageenan structure is also a linear polysaccharide and soluble in hot water. Iota carrageenan gels are thixotropic, which is why they are largely used in cold-filled products. In the food and beverage industry, at low-level usage, iota-carrageenan is used in salad dressings and soy milk.

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Food and Beverage Segment to Dominate the Market

In the food and beverage industry, carrageenan is primarily used as a thickener, gelling agent, stabilizer, and glazing agent. The food and beverage segment dominates the carrageenan market in terms of both usage and value. Increasing health awareness, coupled with shifting inclination towards healthy eating habits, have compelled the manufacturers in the food and beverage industry to incorporate carrageenan in the products as it is naturally procured. In the daily and alternative segment, it is used as a stabilizer and texturizer for neutral dairy products, such as cheese, yogurts, and butter.

Government Efforts to Improve the Pharmaceutical Industry Drives the Market Growth

The pharmaceutical industry has significantly contributed to the growth of the carrageenan market. Carrageenanis used as a viscosity-enhancing agent for controlled drug release and prolonged retention. Itis also used as an inactive excipient in tablet production and can also help in tissue regeneration with therapeutic biomacromolecules and for cell delivery. Globally, the prevalence of chronic diseases is increasing at an alarming rate on account of the rising geriatric population and sedentary lifestyles, which has compelled the governments to heavily invest in their pharmaceutical and healthcare industries. As per the Indian Brand Equity Foundation (IBEF), India plans to invest USD 1.3 billion to increase the production of pharmaceutical ingredients domestically by 2023.

Regional Overview

Europe's Carrageenan Market to Be Driven by the Abundance of Seaweed and Large Production of Cheese

Europe dominates the carrageenan market as the region possesses a well-established food and beverage industry, which is also one of the most significant contributors to the region's economy. As per theFoodDrinkEurope, the food and beverage industry's annual turnover was around USD 1.23 trillion in 2017, and it contributed around 2.1% to the total GDP. Shifting consumer preference towards healthy and greener products, such as plants based products and dairy products, drives the market growth.

According to Eurostat's, the production of raw milk from the farms in the European Union stood at 172.2 million tons in 2018, which was a year-on-year increase of 1.6 million tons.

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Key Players

MCPI Corporation
Marcel Carrageenan
ACCEL Carrageenan Corporation
TBK Manufacturing Corporation
Cargill Inc.
Caldic B.V.
Ina Food Industry Co Ltd.
DanLink Ingredients Ltd.
AEP Colloids Inc.
Shemberg Marketing Corp
Ingredients Solutions Inc.
Gelymar SA
Soriano SA
Scalzo Food Industries
PT Fortuna CahayaCemerlang
Carrageenan Market: Segmentation

By Type

Kappa
Iota
Lambda
By Application

Food and Beverage
Cosmetic Industry
Pharmaceutical
By Region

North America

The U.S.
Canada
Mexico
Europe

Germany
France
The U.K.
Italy
The Rest of Europe
Asia-Pacific

China
Japan
India
South Korea
Australia
The Rest of Asia-Pacific
Central and South America and the Caribbean

Argentina
Brazil
Colombia
The Rest of Central and South America and the Caribbean
The Middle East

Saudi Arabia
The UAE
Qatar
Oman
Turkey
The Rest of the Middle East
Africa

Nigeria
South Africa
The Rest of Africa

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This release was published on openPR.