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Carrageenan Market Size
- Report ID: GMI5595
- Published Date: May 2023
- Report Format: PDF
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 Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Carrageenan 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.
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Carrageenan Market Scope
