Carrageenan Market Research Report - Forecast till 2027

Carrageenan Market Research Report by Product Type (Kappa, Iota, and Lambda), Application [Food & Beverages (Dairy Products, Meat, Poultry & Seafood's, Beverages, Others), Pharmaceuticals, Personal Care, and Others], and Region (North America, Europe, Asia-Pacific, and the Rest of the World) - Forecast till 2027

ID: MRFR/F-B & N/0233-HCR | February 2021 | Region: Global | 110 pages

Carrageenan Market Overview


The Carrageenan Market growth is expected to undergo a huge expansion and thus, reach a final market valuation worth USD 1,250.2 Million by the end of the forecast period 2020 to 2024. The expected rate of growth for the market during the forecast period stands at 5.65% CAGR growth. The main reason for such market growth is due to the growing recognition and demand for thickeners and gelling agents especially from the pharmaceutical sector, personal care, and cosmetics industry, food industry, and beverages across various geographies.


The Carrageenan products are available to be used in the bakery and confectionery products, meat, dairy products, dressings, and sauces, and also, texturizing, and stabilizing agents. Gelling agents are being preferred because of their ease and convenience while using by the target audience. Also, the rising awareness is helping the customers opt for major and global demand for carrageenan products. Consumers in the present scenario are opting for healthy food supplements and nutritious foods. The rising preference for the various food products alongside the natural ingredients and applications of hydrocolloids is what will help the carrageenan market gain momentum during the forecast period.


Covid 19 Analysis


The COVID 19 pandemic has pushed for new changes across various industries, companies and their units are taking time to adjust to the new change and implement strategies for growth and development accordingly. The pandemic has brought new struggles like the lockdown of the temporary and permanent kind. This was an attempt by governments across the globe to curb the community’s spread of the pandemic and contain the virus. Also, there are many restrictions imposed owing to the inter and intra-state transactions which are further hampering the online business delivery and logistic module also. Unavailability of raw materials and changing preferences of people towards a healthier tomorrow are also playing their role in impacting the carrageenan market growth.


The government is investing in the research and development sector to produce a huge variety of food and beverages and make them available for a larger audience through various distribution channels. The key market players are also expanding their services for carrageenan market growth.


Market Dynamics


Drivers


Hydrocolloid is recognizing as a food thickener that accounted for more than 41% of the carrageenan market share during the historic forecast period that ended in 2019. The various kinds of food thickeners are gaining momentum as they have a lower pH level which helps them gain recognition as fiber-rich products. These products are experiencing an application enhancement, especially in the food and beverage industry during the current forecast period.


Opportunities


Natural food thickeners are being adopted while producing food items and beverages of different kinds across various global regions which are pushing for excellent growth opportunities for the market players during the forecast period. Also, owing to the challenges imposed by the pandemic, people are shifting their tastes and preferences towards natural and healthy products that have excellent prospects for the global market during the forecast period.


Technology Analysis


The growing demand for natural thickeners backed with the surging demand for nutritional and convenient food products requires large-scale development and product launches by the market players on a global scale. Carrageenan Market is being employed as a thickening agent that is likely to support the industry’s growth. Also, the agents are used in the form of additives that seek approval from the concerned food administrative bodies. Hence, the use is as per the industry standards so that people and their health is not exposed to any kinds of risks. The advent of technology is pushing for the use of clean-label products that have new formulations for the key market players to flourish.


Market Segmentation


The carrageenan market has been divided all across the globe based on type, application, and region.


Based on the Type


The market has been divided all across the globe based on the type into a lambda, iota, and kappa.


Based on the Application


The carrageenan market has been divided all across the globe based on the application into personal care, pharmaceuticals, food and beverages, and many others. The food and beverages market is further sub-divided into beverages, meat, poultry, seafood, dairy products, and many others.


Based on the Region


The carrageenan market has been divided all across the globe based on the region into the North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region.


Regional Analysis


The carrageenan market has been divided all across the globe based on the region into North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region. The largest market share in the global market is held by the European region in terms of volume and value and hence it dominates in the global market. Also, increasing demand for processed food boosts the market demand in this region. Germany and UK account for 45% market share in this region.


The second-largest market share in the carrageenan market is held by the Asia-Pacific region owing to the presence of highly populous countries like China and India. Also, this region is the fastest-growing region during the forecasted period. Moreover, an increase in production in various Southeastern countries creates more growth opportunities in this region.


The third-largest market share in the carrageenan market is held by the North American region owing to the presence of various countries like the US, Canada, and Mexico. Increasing growth of ready-to-go food and processed food drive the market demand in this region. Growing awareness regarding health and fitness also creates growth opportunities.


The least growth was observed in the Latin American region and the Middle East and African region due to the lack of health facilities in various emerging countries. Also, the personal disposable income is not very high in these regions which restricts the growth of the carrageenan market in these regions.


Competitive Landscape


The most prominent major key players in the carrageenan market all across the globe are mentioned below:



  • Ingredion Incorporated (US)

  • TBK Manufacturing Corporation (Philippines)

  • PT Fortuna Cahaya Cemerlang (Indonesia)

  • Cargill Incorporated (US)

  • LTD (South Africa)

  • Danlink Ingredients (Pty)

  • Caldic B.V. (Netherlands)

  • ACCEL Carrageenan Corporation (Philippines)

  • MCPI Corporation (Philippines)

  • Scalzo Food Industries (Australia)

  • Marcel Trading Corporation (Philippines)

  • Soriano SA (Argentina)

  • Gelymar SA (Chile)

  • Ingredients Solutions Inc. (US)

  • Shemberg Marketing Corp (Philippines)

  • AEP Colloids Inc. (US)


These major key players use various strategies to sustain their market position in the carrageenan market in the global market by going for mergers, and acquisitions, by collaborating, setting up a new joint venture, establishing a partnership, developing a new production process, developing a new product line, innovation in the existing product, and many others to expand their customer base in the untapped market of the carrageenan all across the globe.


Recent Developments



  • In May 2018, a carrageenan plant namely CP Kelco’s Cebu has been acquired by Marcel. It will help the company in dealing with four carrageenan plants.

  • In November 2019, a NUTRAVA citrus fiber has been introduced by CP Kelco US, Inc. it will help in emulsion stabilization, suspension, viscosity, and in providing water holding capacity.

  • The largest market share in the global market is held by the European region owing to the increasing demand for processed food. Also, Germany and UK account for 45% of drive market share value in this region.

  • Marcel Trading Corporation (Philippines) is spending a huge sum of money on research and development to get an upper edge over its competitors. This will help the company by increasing the sales revenue.


Report Overview


This global carrageenan market research report consists of the following elements mentioned below:



  • Market Overview

  • COVID 19 Analysis

  • Market Dynamics

  • Technology Analysis

  • Market Segmentation

  • Regional Analysis

  • Competitive Landscape

  • Recent Developments


This market research report contains factors that drive the growth of the carrageenan market in the global market along with the factors that restrict its growth in the global market. The technical analysis for the growth estimation during the forecasted period is mentioned. The impact of COVID 19 on the sales revenue of the carrageenan market all across the globe is mentioned.


Intended Audience



  • Traders, Exporters, and Importers

  • Retailers and Wholesalers

  • Meat Products Manufacturers

  • Food and Beverages Manufacturers

  • Carrageenan Manufacturers



Frequently Asked Questions (FAQ) :


Carrageenan market valuation would be USD 1250.2 million by 2024.

Carrageenan market CAGR would be 5.65% during the forecast period.

Players included in the carrageenan market report are Ingredients Solutions Inc. (US), AEP Colloids Inc. (US), Shemberg Marketing Corp (Philippines), Scalzo Food Industries (Australia), MCPI Corporation (Philippines), Gelymar SA (Chile), Soriano SA (Argentina), Marcel Trading Corporation (Philippines), Danlink Ingredients (Pty) LTD (South Africa), Cargill, Incorporated (US), ACCEL Carrageenan Corporation (Philippines), Caldic B.V. (Netherlands), TBK Manufacturing Corporation (Philippines), PT Fortuna Cahaya Cemerlang (Indonesia), and Ingredion Incorporated (US).

Products types included in the carrageenan market report are kappa, iota, and lambda.

The end users reported in the carrageenan market report are food & beverage, pharmaceuticals, personal care, and others.

TABLE OF CONTENTS

1. 1 EXECUTIVE SUMMARY

1.1. Market Attractiveness Analysis

1.1.1. Global Carrageenan Market, by Product Type

1.1.2. Global Carrageenan Market, by Application

1.1.3. Global Carrageenan Market, by Region

2. MARKET INTRODUCTION

2.1. Definition

2.2. Scope of the Study

2.3. Market Structure

2.4. Key Buying Criteria

2.5. Macro Factor Indicator Analysis

3. RESEARCH METHODOLOGY

3.1. Research Process

3.2. Primary Research

3.3. Secondary Research

3.4. Market Size Estimation

3.5. Forecast Model

3.6. List of Assumptions

4. MARKET DYNAMICS

4.1. Introduction

4.2. Drivers

4.2.1. Driver 1

4.2.2. Driver 2

4.3. Restraints

4.3.1. Restraint 1

4.3.2. Restraint 2

4.4. Opportunities

4.4.1. Opportunity 1

4.4.2. Opportunity 2

4.5. Challenges

4.5.1. Challenge 1

4.5.2. Challenge 2

5. MARKET FACTOR ANALYSIS

5.1. Value Chain Analysis

5.2. Supply Chain Analysis

5.3. Porter’s Five Forces Model

5.3.1. Bargaining Power of Suppliers

5.3.2. Bargaining Power of Buyers

5.3.3. Threat of New Entrants

5.3.4. Threat of Substitutes

5.3.5. Intensity of Rivalry

6. GLOBAL CARRAGEENAN MARKET, BY PRODUCT TYPE

6.1. Introduction

6.2. Kappa

6.2.1. Kappa: Market Estimates & Forecast, by Region/Country, 2020–2027

6.3. Iota

6.3.1. Iota: Market Estimates & Forecast, by Region/Country, 2020–2027

6.4. Lambda

6.4.1. Lambda: Market Estimates & Forecast, by Region/Country, 2020–2027

7. GLOBAL CARRAGEENAN MARKET, BY APPLICATION

7.1. Introduction

7.2. Food & Beverages

7.2.1. Food & Beverages: Market Estimates & Forecast, by Region/Country, 2020–2027

7.2.2. Dairy Products

7.2.2.1. Dairy Products: Market Estimates & Forecast, by Region/Country, 2020–2027

7.2.3. Meat, Poultry & Seafoods

7.2.3.1. Meat, Poultry & Seafoods: Market Estimates & Forecast, by Region/Country, 2020–2027

7.2.4. Beverages

7.2.4.1. Beverages: Market Estimates & Forecast, by Region/Country, 2020–2027

7.2.5. Others

7.2.5.1. Others: Market Estimates & Forecast, by Region/Country, 2020–2027

7.3. Pharmaceuticals

7.3.1. Pharmaceuticals: Market Estimates & Forecast, by Region/Country, 2020–2027

7.4. Personal Care

7.4.1. Personal care Market Estimates & Forecast, by Region/Country, 2020–2027

7.5. Others

7.5.1. Others: Market Estimates & Forecast, by Region/Country, 2020–2027

8. GLOBAL CARRAGEENAN MARKET, BY REGION

8.1. Introduction

8.2. North America

8.2.1. Market Estimates & Forecast, by Product Type, 2020–2027

8.2.2. Market Estimates & Forecast, by Application, 2020–2027

8.2.3. Market Estimates & Forecast, by Country, 2020–2027

8.2.4. US

8.2.4.1. Market Estimates & Forecast, by Product Type, 2020–2027

8.2.4.2. Market Estimates & Forecast, by Application, 2020–2027

8.2.5. Canada

8.2.5.1. Market Estimates & Forecast, by Product Type, 2020–2027

8.2.5.2. Market Estimates & Forecast, by Application, 2020–2027

8.2.6. Mexico

8.2.6.1. Market Estimates & Forecast, by Product Type, 2020–2027

8.2.6.2. Market Estimates & Forecast, by Application, 2020–2027

8.3. Europe

8.3.1. Market Estimates & Forecast, by Product Type, 2020–2027

8.3.2. Market Estimates & Forecast, by Application, 2020–2027

8.3.3. Market Estimates & Forecast, by Country, 2020–2027

8.3.4. Germany

8.3.4.1. Market Estimates & Forecast, by Product Type, 2020–2027

8.3.4.2. Market Estimates & Forecast, by Application, 2020–2027

8.3.5. UK

8.3.5.1. Market Estimates & Forecast, by Product Type, 2020–2027

8.3.5.2. Market Estimates & Forecast, by Application, 2020–2027

8.3.6. France

8.3.6.1. Market Estimates & Forecast, by Product Type, 2020–2027

8.3.6.2. Market Estimates & Forecast, by Application, 2020–2027

8.3.7. Spain

8.3.7.1. Market Estimates & Forecast, by Product Type, 2020–2027

8.3.7.2. Market Estimates & Forecast, by Application, 2020–2027

8.3.8. Italy

8.3.8.1. Market Estimates & Forecast, by Product Type, 2020–2027

8.3.8.2. Market Estimates & Forecast, by Application, 2020–2027

8.3.9. Rest of Europe

8.3.9.1. Market Estimates & Forecast, by Product Type, 2020–2027

8.3.9.2. Market Estimates & Forecast, by Application, 2020–2027

8.4. Asia-Pacific

8.4.1. Market Estimates & Forecast, by Product Type, 2020–2027

8.4.2. Market Estimates & Forecast, by Application, 2020–2027

8.4.3. Market Estimates & Forecast, by Country, 2020–2027

8.4.4. China

8.4.4.1. Market Estimates & Forecast, by Product Type, 2020–2027

8.4.4.2. Market Estimates & Forecast, by Application, 2020–2027

8.4.5. Japan

8.4.5.1. Market Estimates & Forecast, by Product Type, 2020–2027

8.4.5.2. Market Estimates & Forecast, by Application, 2020–2027

8.4.6. India

8.4.6.1. Market Estimates & Forecast, by Product Type, 2020–2027

8.4.6.2. Market Estimates & Forecast, by Application, 2020–2027

8.4.7. Australia & New Zealand

8.4.7.1. Market Estimates & Forecast, by Product Type, 2020–2027

8.4.7.2. Market Estimates & Forecast, by Application, 2020–2027

8.4.8. Rest of Asia-Pacific

8.4.8.1. Market Estimates & Forecast, by Product Type, 2020–2027

8.4.8.2. Market Estimates & Forecast, by Application, 2020–2027

8.5. Rest of the World

8.5.1. Market Estimates & Forecast, by Product Type, 2020–2027

8.5.2. Market Estimates & Forecast, by Application, 2020–2027

8.5.3. Market Estimates & Forecast, by Region, 2020–2027

8.5.4. South America

8.5.4.1. Market Estimates & Forecast, by Product Type, 2020–2027

8.5.4.2. Market Estimates & Forecast, by Application, 2020–2027

8.5.5. Middle East

8.5.5.1. Market Estimates & Forecast, by Product Type, 2020–2027

8.5.5.2. Market Estimates & Forecast, by Application, 2020–2027

8.5.6. Africa

8.5.6.1. Market Estimates & Forecast, by Product Type, 2020–2027

8.5.6.2. Market Estimates & Forecast, by Application, 2020–2027

9. COMPETITIVE LANDSCAPE

9.1. Introduction

9.2. Competitive Benchmarking

9.3. Development Share Analysis

9.4. Key Developments & Growth Strategies

10. COMPANY PROFILES

10.1. AEP Colloids Inc. (US)

10.1.1. Company Overview

10.1.2. Financial Overview

10.1.3. Products Offered

10.1.4. Key Developments

10.1.5. SWOT Analysis

10.1.6. Key Strategies

10.2. Shemberg Marketing Corp (Phillipines)

10.2.1. Company Overview

10.2.2. Financial Overview

10.2.3. Products Offered

10.2.4. Key Developments

10.2.5. SWOT Analysis

10.2.6. Key Strategies

10.3. Ingredients Solutions Inc. (US)

10.3.1. Company Overview

10.3.2. Financial Overview

10.3.3. Products Offered

10.3.4. Key Developments

10.3.5. SWOT Analysis

10.3.6. Key Strategies

10.4. Gelymar SA (Chile)

10.4.1. Company Overview

10.4.2. Financial Overview

10.4.3. Products Offered

10.4.4. Key Developments

10.4.5. SWOT Analysis

10.4.6. Key Strategies

10.5. Soriano SA (Argentina)

10.5.1. Company Overview

10.5.2. Financial Overview

10.5.3. Products Offered

10.5.4. Key Developments

10.5.5. SWOT Analysis

10.5.6. Key Strategies

10.6. Marcel Trading Corporation (Phillipines)

10.6.1. Company Overview

10.6.2. Financial Overview

10.6.3. Products Offered

10.6.4. Key Developments

10.6.5. SWOT Analysis

10.6.6. Key Strategies

10.7. Scalzo Food Industries (Australia)

10.7.1. Company Overview

10.7.2. Financial Overview

10.7.3. Products Offered

10.7.4. Key Developments

10.7.5. SWOT Analysis

10.7.6. Key Strategies

10.8. MCPI Corporation (Phillipines)

10.8.1. Company Overview

10.8.2. Financial Overview

10.8.3. Products Offered

10.8.4. Key Developments

10.8.5. SWOT Analysis

10.8.6. Key Strategies

10.9. ACCEL Carrageenan Corporation (Phillipines)

10.9.1. Company Overview

10.9.2. Financial Overview

10.9.3. Products Offered

10.9.4. Key Developments

10.9.5. SWOT Analysis

10.9.6. Key Strategies

10.10. Caldic B.V. (Netherlands)

10.10.1. Company Overview

10.10.2. Financial Overview

10.10.3. Products Offered

10.10.4. Key Developments

10.10.5. SWOT Analysis

10.10.6. Key Strategies

10.11. Danlink Ingredients (Pty) LTD (South Africa)

10.11.1. Company Overview

10.11.2. Financial Overview

10.11.3. Products Offered

10.11.4. Key Developments

10.11.5. SWOT Analysis

10.11.6. Key Strategies

10.12. Cargill, Incorporated (US)

10.12.1. Company Overview

10.12.2. Financial Overview

10.12.3. Products Offered

10.12.4. Key Developments

10.12.5. SWOT Analysis

10.12.6. Key Strategies

10.13. PT Fortuna Cahaya Cemerlang (Indonesia)

10.13.1. Company Overview

10.13.2. Financial Overview

10.13.3. Products Offered

10.13.4. Key Developments

10.13.5. SWOT Analysis

10.13.6. Key Strategies

10.14. TBK Manufacturing Corporation (Phillipines)

10.14.1. Company Overview

10.14.2. Financial Overview

10.14.3. Products Offered

10.14.4. Key Developments

10.14.5. SWOT Analysis

10.14.6. Key Strategies

10.15. Ingredion Incorporated (US)

10.15.1. Company Overview

10.15.2. Financial Overview

10.15.3. Products Offered

10.15.4. Key Developments

10.15.5. SWOT Analysis

10.15.6. Key Strategies

11. APPENDIX

11.1. General Sources & References

11.2. List of Abbreviation


LIST OF TABLES

TABLE 1 Global Carrageenan Market, by Region, 2020–2027 (USD Million)

TABLE 2 Global Carrageenan Market, by Product Type, 2020–2027 (USD Million)

TABLE 3 Global Carrageenan Market, by Application, 2020–2027 (USD Million)

TABLE 4 North America: Carrageenan Market, by Country, 2020–2027 (USD Million)

TABLE 5 North America: Carrageenan Market, by Product Type, 2020–2027 (USD Million)

TABLE 6 North America: Carrageenan Market, by Application, 2020–2027 (USD Million)

TABLE 7 US: Carrageenan Market, by Product Type, 2020–2027 (USD Million)

TABLE 8 US: Carrageenan Market, by Application, 2020–2027 (USD Million)

TABLE 9 Canada: Carrageenan Market, by Product Type, 2020–2027 (USD Million)

TABLE 10 Canada: Carrageenan Market, by Application, 2020–2027 (USD Million)

TABLE 11 Mexico: Carrageenan Market, by Product Type, 2020–2027 (USD Million)

TABLE 12 Mexico: Carrageenan Market, by Application, 2020–2027 (USD Million)

TABLE 13 Europe: Carrageenan Market, by Country, 2020–2027 (USD Million)

TABLE 14 Europe: Carrageenan Market, by Product Type, 2020–2027 (USD Million)

TABLE 15 Europe: Carrageenan Market, by Application, 2020–2027 (USD Million)

TABLE 16 Germany: Carrageenan Market, by Product Type, 2020–2027 (USD Million)

TABLE 17 Germany: Carrageenan Market, by Application, 2020–2027 (USD Million)

TABLE 18 France: Carrageenan Market, by Product Type, 2020–2027 (USD Million)

TABLE 19 France: Carrageenan Market, by Application, 2020–2027 (USD Million)

TABLE 20 Italy: Carrageenan Market, by Product Type, 2020–2027 (USD Million)

TABLE 21 Italy: Carrageenan Market, by Application, 2020–2027 (USD Million)

TABLE 22 Spain: Carrageenan Market, by Product Type, 2020–2027 (USD Million)

TABLE 23 Spain: Carrageenan Market, by Application, 2020–2027 (USD Million)

TABLE 24 UK: Carrageenan Market, by Product Type, 2020–2027 (USD Million)

TABLE 25 UK: Carrageenan Market, by Application, 2020–2027 (USD Million)

TABLE 26 Rest of Europe: Carrageenan Market, by Product Type, 2020–2027 (USD Million)

TABLE 27 Rest of Europe: Carrageenan Market, by Application, 2020–2027 (USD Million)

TABLE 28 Asia-Pacific: Carrageenan Market, by Country, 2020–2027 (USD Million)

TABLE 29 Asia-Pacific: Carrageenan Market, by Product Type, 2020–2027 (USD Million)

TABLE 30 Asia-Pacific: Carrageenan Market, by Application, 2020–2027 (USD Million)

TABLE 31 China: Carrageenan Market, by Product Type, 2020–2027 (USD Million)

TABLE 32 China: Carrageenan Market, by Application, 2020–2027 (USD Million)

TABLE 33 India: Carrageenan Market, by Product Type, 2020–2027 (USD Million)

TABLE 34 India: Carrageenan Market, by Application, 2020–2027 (USD Million)

TABLE 35 Japan: Carrageenan Market, by Product Type, 2020–2027 (USD Million)

TABLE 36 Japan: Carrageenan Market, by Application, 2020–2027 (USD Million)

TABLE 37 Australia & New Zealand: Carrageenan Market, by Product Type, 2020–2027 (USD Million)

TABLE 38 Australia & New Zealand: Carrageenan Market, by Application, 2020–2027 (USD Million)

TABLE 39 Rest of Asia-Pacific: Carrageenan Market, by Product Type, 2020–2027 (USD Million)

TABLE 40 Rest of Asia-Pacific: Carrageenan Market, by Application, 2020–2027 (USD Million)

TABLE 41 Rest of the World (RoW): Carrageenan Market, by Country, 2020–2027 (USD Million)

TABLE 42 Rest of the World (RoW): Carrageenan Market, by Product Type, 2020–2027 (USD Million)

TABLE 43 Rest of the World (RoW): Carrageenan Market, by Application, 2020–2027 (USD Million)

TABLE 44 South America: Carrageenan Market, by Product Type, 2020–2027 (USD Million)

TABLE 45 South America: Carrageenan Market, by Application, 2020–2027 (USD Million)

TABLE 46 Middle East: Carrageenan Market, by Product Type, 2020–2027 (USD Million)

TABLE 47 Middle East: Carrageenan Market, by Application, 2020–2027 (USD Million)

TABLE 48 Africa: Carrageenan Market, by Product Type, 2020–2027 (USD Million)

TABLE 49 Africa: Carrageenan Market, by Application, 2020–2027 (USD Million)

LIST OF FIGURES

FIGURE 1 Global Carrageenan Market Segmentation

FIGURE 2 Forecast Research Methodology

FIGURE 3 Five Forces Analysis of the Global Carrageenan Market

FIGURE 4 Value Chain of Global Carrageenan Market

FIGURE 5 Share of the Global Carrageenan Market in 2020, by Country (%)

FIGURE 6 Global Carrageenan Market, by Region, 2020–2027,

FIGURE 7 Global Carrageenan Market Size, by Product Type, 2020

FIGURE 8 Share of the Global Carrageenan Market, by Product Type, 2020–2027 (%)

FIGURE 9 Global Carrageenan Market Size, by Application, 2020

FIGURE 10 Share of the Global Carrageenan Market, by Application, 2020–2027 (%)