Market Overview:

According to the Global Carrageenan Market Research Report, the market was worth USD 864.3 million in 2019 and estimated to be growing at a CAGR of 5.45%, to reach USD 1127.1 million by 2024. Carrageenan is a significant salad ingredient and preservative in food, special care, pharmaceuticals, and other industrialized applications. Carrageenan is a main ingredient in the food industry and is used for its gelling, condensing and stabilizing properties. It has varied applications in both dairy and meat products. It is taken out from red algae and has been used in foods for several decades. Carrageenan is a controlled food additive and there are worries over the extreme amount of Carrageenan that can be added to food.

Market Drivers and Restraints:

Global carrageenan market has been observing substantial growth over the past few years because of growing demand from food & beverages sector and the demand is predicted to continue over the forecast period. Rising health concerns along with increasing demand for healthy food products are one of the major factors to propel the market over the next few years. Increasing concern over gastrointestinal and inflammatory ailments among regulars has considerably hindered the carrageenan market.

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Report segmented as

By Source:

Gigartina
Chondrus
Iridaea
Eucheuma
By Type:

Kappa
Lota
Lambda
By Application:

Food Industry (Dairy, Meat, Beverages and Pet Food)
Pharmaceutical Industry
Cosmetics
By Seaweed Source:

Refined Carrageenan
Semi-Refined Carrageenan
Geographical Analysis:

Geographically the market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East and Africa. Increasing demand for immediate and processed food in Asia Pacific is anticipated to drive the demand for carrageenan in this region. Momentous consumption of dairy products in Europe is boosting the demand for carrageenan. European Union and Latin America are also huge manufacturers of carrageenan, which is traded all over the world.

Important Market Players:

The major players in the food grade carrageenan industry areAEP Colloids,Shemberg Marketing Corporation,Ingredients Solutions Inc.,Gelymar SA,Soriano SA,Marcel Trading Corporation,Danisco A/S,Scalzo Food Industries, Altrafine Gums, TIC Gums Incorporation,Gum Technology Corporation,DuPont (U.S.),Cargill (U.S.),Kerry Group (Ireland),CP Kelco (U.S.),Ashland Inc (U.S.),Ingredion (U.S.),TIC Gums (U.S.), Tate & Lyle (U.K.).

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The Scope of the report:

This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

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