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Carrageenan Market Size
Carrageenan Market size valued at USD 850 million in 2022 and is anticipated to showcase over 6% CAGR from 2023 to 2032.
The growing interest in natural and organic products worldwide is expected to influence the industry growth. In recent years, the rising concerns related to synthetic additives and preservatives has compelled consumers to increasingly turn to natural and organic food products. Carrageenan, mainly sourced from seaweed, offers immunomodulatory, antiviral, antioxidant, and digestive health support. The demand for natural ingredients to cater to the growing consumer needs for natural and organic food products will open new opportunities for the market expansion.
| Report Attributes | Details |
|---|---|
| Base Year: | 2022 |
| Market Size in 2022: | USD 850 Million |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 6.2% |
| 2032 Value Projection: | USD 1.55 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 400 |
| Tables, Charts & Figures: | 291 |
| Segments covered: | Type, Function, Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Increasing importance of alternative ingredients may pose as a restraint for the carrageenan industry to some extent. Lately, several alternative ingredients are increasingly employed as stabilizing, gelling, and thickening agents in food products, such as agar, xanthan gum, and guar gum on account of their more natural and improved safety profile. The rising competition for carrageenan will limit the product demand.
Carrageenan Market Analysis
The kappa carrageenan market size will grow at 6.5% CAGR through 2032, due to its increasing utilization as a gelling agent and stabilizer in the food sector, specifically in dairy and meat products. Kappa carrageenan is primarily a type of carrageenan sourced from red seaweed. In addition to thickening and water-binding, it is used for improving the texture as well as microstructure of gels in food products. Increasing adoption in the gelling of dairy-based liquids will further drive the market preference.
The thickener carrageenan market size will reach USD 625 million by 2032. Considering its ability of forming gels and viscous solutions, carrageenan is extensively utilized as a thickener across the food industry. It is also largely favored to offer different levels of texture and viscosity to food products on the basis on the type of carrageenan. The growing intake of processed foods and the subsequently rising importance of thickening agents will add to the industry expansion.
Europe carrageenan market size is poised to record more than 6.5% CAGR from 2023-2032 on account of the escalating preference for clean-label and plant-based ingredients. The growth can also be attributed to the growing intake of processed meats in the region. Carrageenan has grown widely popular as a thickener, stabilizer, and emulsifier in dairy products. The rising demand for plant-based milk alternatives will also favour the regional market development.
Carrageenan Market Share
Some of the leading companies involved in the carrageenan market include:
- DuPont
- Ingredion Incorporated
- Cargill Inc
- Ceamsa
- Gelymar
- Caldic B.V.
- W Hydrocolloids Inc
- Ashland
- CP Kelco U.S Inc
- ACCEL Carrageenan Corporation.
These firms are working on new product launches, acquisitions and mergers to sustain the increasing competition.
Carrageenan Market News
- In October 2021, Cargill introduced Satiagel VPC614, its eco-friendly kappa carrageenan texturizer, eco-friendly in nature, used for high gelling and solid formulations, as part of its plans of expanding its portfolio of carrageenans.
This carrageenan market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons and revenue in USD Million from 2018 to 2032 for the following segments:
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Market, By Type
- Kappa
- Iota
- Lambda
Market, By Function
- Thickener
- Stabilizer
- Gelling Agent
- Others
Market, By Application
- Food Industry
- Meat
- Dairy
- Beverages
- Others
- Pharmaceutical
- Personal care & cosmetics
- Others
The above information has been provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Russia
- Asia Pacific
- China
- India
- Japan
- Australia
- Indonesia
- South Korea
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
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