Carrageenan Market - Future Scope Detailed Analysis to 2023
The report on Carrageenan Market
by application(bakery & confectionary, beverages, dairy products,
meat and poultry products, personal care products, pharmaceuticals),by
source(chondrus, eucheuma, gigartina, iridaea),by type (iota, kappa, and
lambda) trends analysis and forecasts up to 2023 studies the market
sizes, key trends and opportunities in the main geographies such as
North America, Europe, Asia-Pacific, Rest of the World. According to the
report the Global Carrageenan Market is projected to grow at a CAGR of
between 5% and 6.5% in terms of value over the period of 2017-2023. The
growth in the world market is primarily driven by significant
contribution by North America (Leading region) region to this market.
Carrageenan
is obtained by alcohol precipitation and semi-refining methods.
Carrageenan has anionic and hydrophilic properties. Carrageenan has
medicinal properties and it is useful for the treatment of bronchitis,
cough, intestinal ailments, tuberculosis and some others. Carrageenan
finds application as a binder, emulsifier, and thickening agent in some
food manufacturing processes and it is useful for stabilizing foods and
tooth paste. Carrageenan has non-food applications in cosmetics and
pharmaceutical sectors. Carrageenan is useful in baked foods, batters,
confections, preserved meat, products, processed cheeses, dairy and
non-dairy products and as an alternative to gelatin.
Market Insights
Karagen
Indonesia, Cargill Inc, Danisco, Seatech Carrageenan Company and other
major players in the market focus heavily on research and development to
bring innovative products for both food and non-food based
applications. They also focus on meeting stringent regulations and
marketing the benefits of the carrageenan to remove the misconceptions,
about the products related to some health ailments. carrageenan has
significant share in the hydrocolloids segment of food and beverage
market. The increasing consumption of processed foods is a major factor
that drives the growth of the global carrageenan market. Due to its
gelling, stabilizing and thickening properties, the demand from bakery
& confectionary, beverages, dairy and beverages industries are
increasing significantly and it is expected to drive the growth of the
global carrageenan market. The need for non-animal sourced alternative
for gelatin is expected to generate demand for carrageenan for
vegetarian and vegan food products industry during the forecast period.
As a natural ingredient, the demand for carrageenan is increasing from
personal care industry and it is expected to drive the growth of the
market.
Alternatives
such as gelatin, guar, pectin, and xanthan gum provide huge competition
to the carrageenan and it is a restraint for the global carrageenan
market. Health concerns over gastrointestinal and inflammatory diseases
related to the use of carrageenan in certain food and beverages products
is major a restraint for the carrageenan market. Fluctuating prices of
raw materials affects the pricing of carrageenan products and it hinders
the growth of the global carrageenan market. Meeting the stringent
regulations regarding the use of carrageenan in some countries is a
major challenge for the major players in the global carrageenan market.
The major players in the carrageenan market can find opportunities in
non-food based applications such as pharmaceuticals and personal care to
expand, as natural ingredients are favored by many people.
The
report covers the analysis of global as well as regional markets of
carrageenan market. Moreover, the global carrageenan market is segmented
by application, by source, by type and by food grade. The global
carrageenan market by application covers alternative to diary products,
bakery & confectionary, beverages, dairy products, meat and poultry
products, personal care products, pharmaceuticals and some others. On
the basis of source, the market is segmented as chondrus, eucheuma,
gigartina, iridaea and some others. Based on type, the market is
segmented as iota, kappa, and lambda. Based on food grade, the market is
segmented as E407, E407a and some others.
Geographies covered
The
global carrageenan market covers analysis of regions such as North
America, Europe, Asia-Pacific and RoW (including Latin America, Middle
East and Africa). Among geographies, Asia-Pacific is the largest
carrageenan market, due to the presence of the largest carrageenan
producing nation Phillippines and the major exporter China in the
region. Moreover, the presence of large population in the region, along
with the rapid rise in consumption of processed food drives the growth
of Asia-Pacific carrageenan market. North America and Europe are the
next largest carrageenan markets.
The
increasing demand for carrageenan from the confectionary industry for
chocolate manufacturing drives the growth of the North American
Carrageenan market. In Europe, the increasing demand for the processed
food and dairy products drives the growth of the carrageenan market,
though Europe relies heavily on imports from Asia-Pacific region for
their carrageenan requirements. Stringent European Union laws regarding
carrageenan use hinder the growth slightly. Presence of large
manufacturers and increasing demand for healthier processed foods in
Latin American countries such as Argentina and Brazil drive the growth
of the Latin American carrageenan market.
Companies Profiled
The
companies covered in the report include manufacturers of global
carrageenan market include ACCEL, Cargill Inc, Danisco, Gelymar SA,
Greenfresh, Karagen Indonesia, Kelco, Kerry Group Plc, Seatech
Carrageenan Company, Shemberg, TIC Gums Corporation and Xieli.
The
report provides deep insights on demand forecasts, market trends and
micro and macro indicators. In addition, this report provides insights
on the factors that are driving and restraining the demand of
carrageenan globally as well as regionally. Moreover, IGR-Growth Matrix
analysis given in the report brings an insight on the investment areas
that existing or new market players can consider. The report provides
insights into the market using analytical tools such as Porter’s five
forces analysis and value chain analysis of carrageenan.
Moreover,
the study highlights current market trends and provides forecast from
2016 to 2023. We also have highlighted future trends in the carrageenan
market that will impact the demand during the forecast period. Moreover,
the competitive analysis given in each regional market brings an
insight on the market share of the leading players. Additionally, the
analysis highlights rise and fall in the market shares of the key
players in the market. This report will help manufacturers, suppliers
and distributors of the carrageenan market to understand the present and
future trends in this market and formulate their strategies
accordingly.
Infinium
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our clients can encash with their existing resources. Our experts with
over 100 years of cumulative experience in research offer the best in
the industry services to our clients to ensure that they achieve their
business goals.
Infinium Global Research,
Website: https://www.infiniumglobalresearch.com
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