Global Carrageenan Market By Type (Kappa Carrageenan, Lota Carrageenan, Lambda Carrageenan, Others), Application (Food, Pharmaceuticals, Others), Source (Chondrus, Eucheuma, Gigartina, Iridaea, Others), Food Grade (Refined Carrageenan (E-407), Semi Refined Carrageenan (E-407a)), Others) and Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Carrageenan Market
Global Carrageenan Market is expected to rise from its initial estimated value of USD 988.78 million in 2018 to an estimated value of USD 1,474.28 million by 2026, registering a CAGR of 5.12% in the forecast period of 2019-2026. This rise in market value can be attributed to the benefits of using tissue towels for the health of the individual and prevention of infections and their transferring.
Market Definition: Global Carrageenan Market
Carrageenan is a common food additive that is extracted from red edible seaweeds. It has a specific set of rheological properties that differentiates it from other hydrocolloids and is widely used as a natural ingredient for thickening, emulsifying, and preservative in foods and drinks. The three most important carrageenan are kappa carrageenan, lambda carrageenan, and iota carrageenan. Moreover, it has wide range of applications in both dairy and meat products due to its textural functionality.
- Increasing consumption of processed foods.
- Growing demand for hydrocolloids
- Alternative to animal-sourced gelatin
- Fluctuating raw material prices and high cost of products
- Health concerns related to gastrointestinal and inflammatory diseases
- Availability of alternatives
Segmentation: Global Carrageenan Market
- By Type
- Kappa Carrageenan
- Lota Carrageenan
- Lambda Carrageenan
- By Application
- Alternative to Dairy Products
- Bakery & Confectionary
- Dairy Products
- Meat & Poultry Products
- Personal Care Products
- By Source
- By Food Grade
- E407 A
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
- North America
Key Developments in the Market:
- In April 2018, CP Kelco made an announcement about PT. Azelis Indonesia Distribusi being their new and exclusive distributor for all the products manufactured by CP Kelco. These include all products with food and beverage applications.
- In May 2017, CP decided for seeking strategic buyer for the Cebu plant, on the basis of the company’s strategy and business objectives. Gel-pressed/refined carrageenan (GPC) and semi-refined carrageenan (SRC) products were the primary products of Cebu plant.
Competitive Analysis: Global Carrageenan Market
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 carrageenan market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Carrageenan Market
Few of the major competitors currently working in the carrageenan market are Marcel Trading Corporation., MCPI, SELT- MG, Seatech Carrageenan Company, Ina Food Industry Co., Ltd., ACCEL Carrageenan Corporation, Quest International, Inc., TBK Manufacturing Corporation., Ingredients Solutions, Inc., AquAgri Processing Private Limited., Devson Impex Private Limited, Shemberg Corporation, Zamboanga Carrageenan, W Group., CP Kelco, FMC Corporation.
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 inquiry.
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:
- Competitive analysis of key competitors involved in the market
- Complete analysis of Market Segmentation and which segments are set to flourish in the forecast period of 2019 to 2026
- Market Drivers and Restraints analysis along with the analysis of the market structure