Carrageenan Market: Industry Analysis, Future Growth, Business Prospects and Global Forecast to 2027

Market Overview:
Carrageenan (also known as carrageenin) comes under the family of linear sulphated polysaccharides which are extracted from red edible seaweeds and are broadly used in the food industry. The basic properties of Carrageenan are thickening, gelling and stabilizing and suspending agents in milk and water system. Carrageenans are widely used in the food industry applications such as dairy products and meet product as they are having a strong binding of food proteins. Carrageenan mostly found in the Atlantic Ocean near the shore of UK and North America. Carrageenans are classified into three types namely; Iota, Kappa and Lambda.

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Key Players of Carrageenan Market:
• Marcel Trading Corporation
• ACCEL Carrageenan Corporation (ACC)
• Rico Carrageenan
• Xieli, Gather Great Ocean
• Global Ocean
• LONGRUN
• Greenfresh
• Brilliant
• Cargill
• CP Kelco
• Karagen Indonesia

Market Segmentation:
As per the MRFR, the global carrageenan market is segmented into product types and applications.

The carrageenans are classified into three types:
• Iota Carrageenan
• Kappa Carrageenan
• Lambda Carrageenan

The application segmented is classified into:
• Food Industry
• Pharmaceutical Industry
• Other Domestic Uses

Market Growth Influencer:
Global Carrageenan Market has seen a potential growth in the past few years. As on 2011, carrageenan had the estimated global sale of US$ 640 million where Philippines was the biggest producer of industrial carrageenan and China is the major exporter to the US and European market. Commonly used sources in carrageenan are E. spinosum (Eucheuma denticulatum) and E. cottonii (Kappaphycus alvarezii, K.striatum), together they provide about three quarters of the global population. Increasing demand for food product, dairy products and meet products have driven the carrageenan market across the globe. As large population prefers non vegetarian food however, there is a huge demand is generated from meet product segments. Apart from this the key challenges may occur in the carrageenan market are increasing concern over inflammatory and gastrointestinal disorders among the consumers which has considerably hindered the carrageenan market. Moreover, the availability of substitutes such as agar, a jelly like substance (obtained from algae) has made the carrageenan market down.

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Regional Analysis:
Europe and Asia-Pacific are considered as the key market for global carrageenan market. Increasing demand for processing food and meet products in APAC region has witnessed the huge demand for carrageenan and in Europe the dairy products are given so much of preferences which have anticipated the demand for this particular product. The Asian countries such as China, India, Japan, Indonesia, Russia and several others have projected to drive the market because of the wealthy and emerging economy. And China is considered to the largest market in APAC region because of the strong industrialization. These factors has resulted the Carrageenan Market to have a commendable growth in future. North America is considered to the largest market for carrageenan. Middle East & Africa is one of the most preferred meet and processed food consumption region.

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This release was published on openPR.