Global Carrageenan Gum Market

Global Carrageenan Gum Market Analysis, Size, and Development Research 2022- 2028

According to the report, the global Carrageenan Gum market was valued at approximately USD 834.7 million in 2019 and is anticipated to generate revenue of approximately USD 1082.2 million by the end of 2026, expanding at a CAGR of approximately 3.78 percent between 2020 and 2026.

Carrageenan is a food additive derived from the Rhodophyceae plant class. It belongs to the sulphated polysaccharides family and has hydrocolloid properties. Carrageenan is utilised as a gelling and thickening agent, as well as a food stabiliser. Carrageenan consists of polysaccharides with a high molecular weight and repeated galactose units.

Lambda, iota, and kappa are the three commercial classes of carrageenan. Kappa forms strong, rigid gels, while iota produces soft gels.

Global Carrageenan Gum Market
Global Carrageenan Gum Market

Globally, the food and beverage industry has experienced rapid growth. The sharp increase in demand for gelling agents and food additives drives the expansion of the market for carrageenan gum. In addition, rising demand for processed foods and rising spending capacity per capita are anticipated to drive market expansion. In addition, the expansion of the global food chain promotes the growth of the carrageenan gum market.

However, the presence of substitutes such as cellulose and xanthan on the market is the only factor restraining the market for carrageenan gum. Nonetheless, the superior gelling and additive properties of carrageenan gum are anticipated to provide the market with ample opportunities over the forecast period.

The report provides a comprehensive analysis of the carrageenan gum market based on Porter’s Five Forces model. The study includes an analysis of market attractiveness, in which type, application, and end-user segments are compared based on their market size, growth rate, and overall attractiveness. In addition, the report analyses the impact of several market-driving and market-restraining factors during the forecast period.

According to its chemical composition, carrageenan gum can be classified as lambda, iota, and kappa. After undergoing a reaction with calcium and potassium salts, iota and kappa are widely used as gelling agents in food. Meat & poultry, dairy, water gels, and toothpaste are among the leading applications for carrageenan gum. Due to the diverse applications of carrageenan gum in the dairy industry, this segment is the most prominent. Ice cream, chocolate milk, and mixes are just a few of the products that are created with carrageenan gum. Carrageenan gum is utilised by the meat processing industry in precooked meat and chicken pieces.

On the basis of end user, the market for carrageenan gum can be divided into the food and beverage industry, the pharmaceutical industry, the cosmetics industry, and others. Carrageenan gum has a wide variety of applications in the food and beverage industry. Carrageenan gum is utilised in the production of dips, sauces, caramel, and instant mixes, as well as numerous dairy products. Because carrageenan gum gels, it is utilised as a gelling agent in the pharmaceutical industry. The cosmetics industry has a substantial stake in the growth of the carrageenan gum market over the forecast period.

Asia-Pacific is the largest market for carrageenan gum, followed by Europe. The rising demand for carrageenan gum in this region has been significantly influenced by factors such as a growing preference for processed and junk foods and an increase in disposable income. Increasing population and the emergence of the food and beverage industry, particularly in India and China, also contribute to the market expansion of carrageenan gum. In Europe, a sufficient increase in the dairy industry contributes to the expansion of the carrageenan gum market.

In 2015, North America was the largest market for pet food applications. Due to Brazil’s growing demand for carrageenan gum, Latin America will likely experience robust growth in the coming years. Due to an expanding meat and processed food industry, the Middle East and Africa exhibit the highest growth rate.

Cargill Incorporated, Rhodia, Soriano SA, Shemberg Marketing Corporation, Ingredients Solutions Inc, AEP Colloids, Marcel Trading Corporation, CEAMSA, FMC BioPolymer, CP Kelco ApS, Danisco A/S, Shemberg Biotech Corporation, and Gelymar SA are among the market’s leading companies.

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