Industry Background:
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.This growth is primarily driven by Increasing Demand from Food and Beverage Industries
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | Unit |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Food Products sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as 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), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
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.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
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
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Carrageenan Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Carrageenan Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Carrageenan players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Carrageenan Study Sheds Light on
The Carrageenan Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Carrageenan industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Carrageenan industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.