Carrageenan Market annual growth rate is 5.23 percent
Carrageenan’s share of the world market for food and beverage hydrocolloids is around 13.3%. Carrageenan is an additive and a natural ingredient derived from red algae or Irish moss used to emulsify, thicken and store beverages and foods. It is a soluble fiber because it makes some foods more nutritious by helping the low-fat foods taste as good as their sugar counterparts.
Carrageenan Market Size and Growth Rate:
According to the latest reports published by Research Cosmos, Carrageenan Market was valued at USD 791.2 Million in 2017 and projected to reach USD 1086.2 Million by 2025 growing at a CAGR of 5.23% during the forecast period 2018 to 2025.
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Carrageenan Market Growth Drivers and Restraints:
However, several health effects associated with carrageenan and the potential to cause swelling, glucose intolerance, inflammation are expected to impede the growth of the global carrageenan market over the forecast period.
The growing demand for carrageenan in the food and beverage, pharmaceutical and other industries opens great prospects for the world market.
Beverages, bakery products, dairy products, meat products and by-products, confectionery and others are the prominent applications of the carrageenan in the international market.
Geographical Analysis of Carrageenan Market:
The global carrageenan market is driven primarily by North America and Europe, where the consumption of processed foods and bakery products is paramount. On the other hand, population growth and increased per capita income of consumers in the Asia-Pacific region, as well as the growing demand for dairy products, confectionery, meat and by-products, in order to strengthen the growth of the carrageenan market over the forecast period.
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Key Players of Carrageenan Market:
Key Sources for the market are ACCEL Carrageenan Corporation, AquaAgri, Kelco CP, Quest International Philippines Corp., Seatech Carrageenan Company, Devson Impex Pvt Ltd, FMC Corp., Ina Food Industry Co., Ltd., Carrageenan Kosher, Marcle Carrageenan, and others.
Carrageenan Market Segmentation:
By Product:
- Kappa-carrageenan
- Iota-carrageenan
- Lambda carrageenan
By Application:
- Food Industry
- Daily Chemical Industry
- Pharmaceutical Industry
- Biochemistry
By Region:
- North America
- South America
- Europe
- Asia Pacific
- Middle East and Africa
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