About Carrageenan
Carageenan is a linear sulfated, that is extracted from red edible seaweeds. It is a major ingredient in food industries that are used for gelling and stabilizing properties. These have a wide variety of applications in different food segments such as dairy and meat products. Carrageenan is of different types based on the number of sulphates per disaccharide. The main application of carrageenan is in different industries that include Food Industry, Pharmaceutical Industry, and others. Hence the increasing rate of these industries is boosting the market.
Attributes | Details |
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Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
The key players are highly focusing on developing and innovating new strategies such as product launch and increased R&D to maintain their market position and customer base. The companies are also planning strategic activities like partnerships, collaboration, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Carrageenan market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
AEP Colloids Inc. (United States), Shemberg Marketing Corp (Philippines), Ingredients Solutions Inc. (United States), Gelymar SA (Chile), Soriano SA (Argentina), Marcel Trading Corporation (Philippines), Scalzo Food Industries (Australia), MCPI Corporation (Philippines), ACCEL Carrageenan Corporation (Philippines) and Caldic B.V. (Netherlands) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Danlink Ingredients (Pty) LTD (South Africa), Cargill, Incorporated (United States), PT Fortuna Cahaya Cemerlang (Indonesia), TBK Manufacturing Corporation (Philippines) and Ingredion Incorporated (United States).
Segmentation Overview
AMA Research has segmented the market of Global Carrageenan market by Type (Kappa, Iota and Lambda), Application (Food Industry (Dairy, Meat, Beverages, Pet Food, and Others), Pharmaceutical Industry, Cosmetics Industry and Others) and Region.
On the basis of geography, the market of Carrageenan has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Grade, the sub-segment i.e. Refined Carrageenan will boost the Carrageenan market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Seaweed Source, the sub-segment i.e. Gigartina Source will boost the Carrageenan market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Majorly Usage of Kappa, the Most Used Carrageenan in Food, Where It Acts as a Stabilizer, Bodying Agent and Emulsifier in Cheese, Ice Cream, Chocolate and Puddings
Market Growth Drivers:
Increasing Demand from Food and Beverage Industries and Rising Demand for Processed Foods by Consumers
Challenges:
Growing Dependence on APAC for Seaweed Production
Restraints:
Issue Related to the Side Effects from these Food Ingredients
Opportunities:
Growing Applications of Carrageenan is Boosting the Market and Rising Innovations and Advancements in Technological and Product Offerings
Market Leaders and their expansionary development strategies
In October 2021, Tilley Co., a portfolio company of SK Capital Partners, acquired Ingredient Solutions, Inc., a distributor, and blender of specialty hydrocolloids. Ingredient Solutions’ product portfolio is derived from renewable plants and algae.
In March 2022, CP Kelco, a nature-based ingredient solutions company, partnered with Shiru, Inc., food ingredient startup to accelerate the transition to a sustainable food system through the discovery and development of next-generation, plant-based proteins using precision fermentation technology.
Key Target Audience
Potential Investors, Up and Down Stream Vendors, Private Research Organizations, Suppliers and Distributors and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.