Report Details-
Global Carrageenan Market, By Grade (Refined Carrageenan, Semi-Refined Carrageenan), Type (Kappa, Lota, Lambda), Seaweed Source (Gigartina, Chondrus, Iridaea, Eucheuma), Function (Thickener, Stabilizer, Gelling Agent, Others), Application (Food, Pharmaceutical, Personal, Others), Industry Trends and Forecast to 2029.
Market Analysis and Size
The increased demand for various food products and natural components and hydrocolloid applications will propel the carrageenan market forward throughout the forecast period. Therefore, the customers are also opting for carrageenan items as a result of increased awareness. In today's market, consumers want healthy food supplements and nutritional foods. Therefore, the carrageenan market is anticipated to flourish immensely over forecasted period.
Global Carrageenan Market was valued at USD 832.01 million in 2021 and is expected to reach USD 1387.36 million by 2029, registering a CAGR of 6.6% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Market Definition
Carrageenan is a thickening, emulsification, and preservation agent for food and beverages. They are all-natural compounds that come from red seaweed. Carrageenan can be found in various foods, including cream, ice cream, coconut milk, hemp milk, deli meats, cottage cheese, almond milk, and others. They are tasteless and nutritionally useless. They're also utilized as a fat substitute in low-fat dairy and as a meal replacement. Carrageenan comes in three types: kappa, lambda, and lota, and it's widely utilized in food, personal care, pharmaceuticals and other applications.
COVID-19 Impact on Carrageenan Market
The recent outbreak of coronavirus had an immense impact on the carrageenan market. Companies and their units are taking time to react to the new change and build growth and development strategies in response to the COVID 19 pandemic, which has pushed for new developments across numerous industries. The epidemic has created additional challenges, like as temporary and permanent lockdowns. This was an attempt by governments worldwide to halt the pandemic's spread and contain the virus. Other constraints imposed as a result of inter-state and intra-state transactions further impede the online business delivery and logistic module. Unavailability of raw materials and changing consumer preferences toward a healthier future are also limiting the growth of the carrageenan market. The government is investing in research and development to manufacture a wide range of foods and drinks and make them available to a wider audience through various distribution channels. For the carrageenan market to flourish, the major companies are increasing their services.
Carrageenan Market Regional Analysis/Insights
The carrageenan market is analysed and market size insights and trends are provided by country, grade, type, seaweed source, function and application as referenced above.
The countries covered in the carrageenan market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the carrageenan market because of the increasing growth of ready-to-go food and processed food within the region.
On the other hand, Asia-Pacific is estimated to show lucrative growth during the forecast period of 2022 to 2029 due to the increasing demand for dairy foods, confectionaries, meat and related products and increasing per capita income of consumers in the region.
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Competitive Landscape and Carrageenan Market Share Analysis
The carrageenan market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to carrageenan market.
Some of the major players operating in the carrageenan market are
Ingredion Incorporated (U.S.)
TBK Manufacturing Corporation (Philippines)
PT Fortuna Cahaya Cemerlang (Indonesia)
Cargill Incorporated (U.S.)
Danlink Ingredients (Pty) LTD (South Africa)
Caldic B.V. (Netherlands)
ACCEL Carrageenan Corporation (Philippines)
MCPI Corporation (Philippines)
Scalzo Trading Co Pty Ltd (Australia)
Marcel Carrageenan (Philippines)
CyberColloids Ltd., (Argentina)
Gelymar SA (Chile)
Ingredients Solutions Inc. (U.S.)
Shemberg (Philippines)
AEP Colloids (U.S.)
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Major TOC of the Report
· INTRODUCTION
· MARKET SEGMENTATION
· MARKET OVERVIEW
· EXECUTIVE SUMMARY
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Tags- Global Carrageenan Market, Chemical & Material,
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