Global Carrageenan Market By Source (Thickener, Stabilizer, Gelling Agent, Others), Application (Food, Pharmaceutical, Personal, Others), Type (Kappa, Lota, Lambda), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Carrageenan Market
Global carrageenan market is set to witness a substantial CAGR 7.25% in the forecast period of 2019- 2026. The report contains data of the base 2018 and historic year 2017. Increasing application of carrageenan and increasing prevalence of private label products are the factor for the growth of this market.
Market Definition: Global Carrageenan Market
Carrageenan is an additive for the thickening, emulsification and preservation of food and drink. They are natural ingredients which are derived from the red seaweed. Cream, ice cream, coconut milk, hemp milk, deli meats, cottage cheese, almond milk and other are some of the common sources of the carrageenan. They don’t have any taste or nutritional value. They are also used as an alternative for fat in low fat dairy and food replacement. Kappa, lambda and Lota are common type of carrageenan and are widely used in application such as food, personal, pharmaceutical and other.
- Growing demand of carrageenan from food industry will drive the market growth
- Increasing usage of carrageenan rather than gelatine in production process of vegan products will also accelerate the growth of this market
- Rising health consciousness among population and rising awareness about the ingredients in the packaged foods also acts as a market driver
- New product launched in the market will also boost this market growth
- Availability of alternatives in the market will restrain the market growth
- Carrageenan can cause bloating, inflammation, color cancer, food allergies and other which can also hamper its demand in the market
Segmentation: Global Carrageenan Market
- Gelling Agent
- Meat & poultry products
- Sauces & dressing
- Dairy products
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market:
- In July 2018, Cargill announced the expansion of their Seabrid portfolio with the launch of new carrageenan extract Satiagel Se which is specially designed for texturising solution in creamy dairy desserts. This new carrageenan extract is based on 100% cultivated seaweed and is manufactured using sustainably sourced ingredients. The main aim of the launch is to provide the customer with combination of high quality desserts at affordable price
- In May 2018, Marcel, announced the acquisition of Cebu carrageenan plant from CP Kelco. With this, now company will be handling four carrageenan plants. This acquisition will help the company to enhance their portfolio and technical abilities. With this Cebu plant now company can work closely with the seaweed farmers
Global carrageenan market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of carrageenan market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global carrageenan market are Mcpi Corporation Carrageenan, Marcel Trading Corporation, ACCEL Carrageenan Corporation, TBK Manufacturing Corporation, Cargill, Incorporated, Caldic B.V., Ina Food Industry Co., Ltd., Danlink Ingredients (Pty) LTD., AEP Colloids Inc, Ingredients Solutions Inc, Gelymar, Scalzo Trading Co Pty Ltd, FMC Corporation., CP Kelco U.S., Inc, W Hydrocolloids Inc, ZAMBOANGA CARRAGEENAN, Devson Impex Private Limited, AquAgri Processing Private Limited, Aquarev Industries, Innovative Food Solutions LAUTA among others.
Research Methodology: Global Carrageenan Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved