Carrageenan Market Size – USD 894.8 Million in 2018, Carrageenan Market Growth – CAGR of 5.5%
NEW YORK CITY, NEW YORK, UNITED STATES, March 24, 2020 /EINPresswire.com/ — The global Carrageenan market is forecast to reach USD 1.46 Billion by 2027, according to a new report by Reports and Data. It is an additive that is used to emulsify, thicken, and preserve foods and beverages.
It’s a natural ingredient that is derived from red seaweed, also called the Irish moss. This ingredient is commonly used in meat products, nut milks, and yogurt. The major demand of the carrageenan is from the food industry. The highest application of the market is especially from the dairy products. The ingredients are used in the food, pharmaceuticals, and cosmetic industry, among others.
Carrageenan is among the most common food additive with no nutritional value. It is expected to trigger inflammation and gastrointestinal ulcerations, and it damages the human digestive system. It is linked to ulcerations and cancers of the gastrointestinal tract. Undergraded carrageenan is widely used with malignancies and stomach problems. Moreover, acid digestion, bacterial action, heating, and mechanical processing can all accelerate degradation of food-grade carrageenan.
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Fluctuations in the prices of raw materials affect the prices of market products, and it restricts its growth. Fulfillment of stringent regulations regarding the application of carrageenan in some countries is a major challenge for the manufacturer.
The market is dominated by the Asia-Pacific region owing to abundant production in countries such as China, India, and the Philippines. The applications of it were observed in several industries, such as cosmetics, food, pharmaceuticals, and others.
Further key findings from the report suggest
• Kappa and Iota are among the type of carrageenan formed with potassium and calcium salts, which are colossally used as gelling agents in the food and beverage industry. Increase in demand for gelling agents in caramel sauces, dairy desserts, dips, and other dairy and non-dairy beverages is the key factor propelling iota and kappa products demand.
• The rising consumption of processed foods is a major driving factor that drives the global carrageenan market. The stabilizing, gelling, and thickening properties, makes it ideal for the application in the bakery and confectionary, dairy, beverages industries. It is expected to drive the global demand.
• Kappa carrageenan forms rigid, strong gels in the presence of potassium ions, and reacts with dairy proteins. It is sourced mainly from Kappaphycus alvarezii. Kappa is used for thickening, water-binding, and gelling. The use of it in concrete preparation could result in a high compressive strength, flexural strength, and impact toughness.
• Europe held the second-largest share in the carrageenan market. The processing of the product takes place mainly in countries such as France and Denmark, surging the production across the region.
• Key participants include AEP Colloids, Gelymar SA, Danisco A/S, Shemberg Marketing Corporation, Marcel Trading Corporation, MCPI Corporation, ACCEL Carrageenan Corporation, Ina Food Industry Co. Ltd., PT Fortuna Cahaya Cemerlang, and Danlink Ingredients (Pty) Ltd., among others.
• In May 2019, Gelymar S.A is the third-largest carrageenan producer across the globe, and it completed its capacity expansion program initiated 24 months ago with a USD 15 Million investment. Its production capacity is now doubled at about 10,000 metric tons of product.
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For the purpose of this report, Reports and Data have segmented into the global Carrageenan market on the basis of type, grade, source, application, and region:
Type Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
Grade Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
• Refined Carrageenan
• Semi-Refined Carrageenan
Source Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
• Gelling Agent
Application Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
• Food Industry
Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
• North America
• Asia Pacific
• Latin America
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Source: EIN Presswire