16th
April 2019 - Global
Carrageenan Market is anticipated to grow at a significant CAGR of close to 8%
in the upcoming period as the scope, product types, and its applications are
increasing across the globe. Carrageenan is a hydrocolloid derived from red
seaweed. It is mainly used as a constituent in several food products, such as
dairy, bakery, meat products, and sauces. The factors that propel the growth of
the carrageenan market include the alternative to animal-sourced gelatin,
growing demand for hydrocolloids, rising of processed foods. On the other hand,
there are factors that may hamper the growth of the market including the
availability of substitutes and changing raw material prices and the high cost
of products.
The market could be explored by source type, type, food grade,
application, and geography. Market by type could span Lambda, Iota, and Kappa.
The “Kappa” segment led the market in 2017 and will continue to lead in the
forecast period. The key factors that could be attributed to the growth of the
market such as it acts as an emulsifier, stabilizer, and bodying agent in
chocolate, cheese, puddings, and ice cream. The market may be explored by
source type as Gelling Agent, Thickener, Stabilizer, and Others. The market may
be explored by food grade as E407a, E407, and Others.
The key applications that could be explored in the carrageenan market
include Pharmaceuticals, Food may further comprise as Confectionery, Bakery,
Meat & poultry products, Sauces & dressing, Beverage, Dairy products
and others. The “Food and Beverages” segment led the carrageenan market in 2017
and will continue to lead in the forecast period. The key factors that could be
attributed to the growth of market such as it is extensively used in
water-based desserts, fruit preparation and it stabilizes ice creams. Also,
used for desired texture to confectionary products and increasing application
of carrageenan in meat products to regulate water content.
EMEA accounted for the major share of the carrageenan market Size in 2017
and will continue to lead in the forecast period. The factors that could be
attributed to the growth include rising acceptance of carrageenan, rising
number of applications and significant of dairy products in the region. EMEA is
followed by the Asia-Pacific region.
Some of the key players that fuel the growth of the market comprise BLG
Shanghai & Zhejiang Plants, Kachabo Gums, Marinalg international, Scalzo
Food Industries, Altrafine Gums, FMC Corporation, TIC Gums Incorporation,
Cargill Inc and Gum Technology Corporation. The leading companies are taking up
partnerships, mergers and acquisitions, and joint ventures in order to boost
the inorganic growth of the industry.
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