Global Carrageenan Market to Expand at 5.4% CAGR 2016-2021

According to the report "Carrageenan Market" published by Market Data Forecast, the global market is projected to reach USD 962.58 Million by 2021, at a CAGR of 5.4% from 2016 to 2021.

Carrageenan is polysaccharide, consumed as a natural preservative in several food and pharmacological applications. Carrageenan is mostly found in the Atlantic oceans near to North America and Europe. There are numerous carrageenan’s, divergent in their chemical arrangement and properties, and consequently in their usages.

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One of the key drivers of the food grade carrageenan market is the increasing demand of treated foods. With growing awareness about the constituents of processed foods, the demand for organic ingredients is also on escalation. Growing demand for hydrocolloids from several industries such as pharmaceutical, food & beverages, personal care & cosmetics is estimated to complement the market growth over the forecast period.

Market Segmentation:

1)By Type:
a)Kappa
b)Lota
c)Lambda

2)By Application:
a)Food Industry
•Dairy
•Meat
•Beverages
•Pet Food
b)Pharmaceutical Industry
c)Cosmetics Industry

3)By Grade:
a)Refined Carrageenan
b)Semi Refined Carrageenan

4)By Seaweed Source:
a)Gigartina
b)Chondrus
c)Iridaea
d)Eucheuma

5)By Geography:
a)North America
b)Europe
c)Asia-Pacific
d)Latin America
e)Middle-East and Africa

The major players in the food grade carrageenan industry are AEP Colloids, Shemberg Marketing Corporation, Ingredients Solutions Inc., Gelymar SA, Soriano SA, Marcel Trading Corporation, Danisco A/S, Scalzo Food Industries, Altrafine Gums, TIC Gums Incorporation, Gum Technology Corporation, DuPont (U.S.), Cargill (U.S.), Kerry Group (Ireland), CP Kelco (U.S.), Ashland Inc (U.S.), Ingredion (U.S.), TIC Gums (U.S.) and Tate & Lyle (U.K.).

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