Carrageenan Market to Record an Exponential CAGR by 2018 – 2028
Carrageenan Market: Introduction:
Carrageenan is an additive and a natural ingredient that comes from red seaweed or Irish moss which is used to emulsify, thicken, and preserve drinks and foods. Carrageenan is a soluble fiber as it makes certain foods more nutritious by helping low-sugar and low-fat options taste as good as their sugar counterparts. Furthermore, carrageenan helps in stabilizing food and beverages through preventing them from separating, for instance, chocolate would settle at the bottom of chocolate milk without carrageenan.
Yogurt, meat products, and nut milks are the key applications where carrageenan find its use as an ingredient. Furthermore, soy milk, hemp milk, deli meats, chocolate milk, cottage cheese, non-dairy deserts, vegan cheeses, coconut milk, among others are common sources of carrageenan readily available in the market. Moreover, suspending the nutrients in baby formula, minimizing food waste by preventing spoilage, and making yogurt and ice cream creamier are some of the benefits of carrageenan usage as an ingredient. The carrageenan is available in two forms: undegraded and degraded: where undegraded are only approved for use in food.
Some studies found that consumption of carrageenan may promote or trigger inflammation, bloating, food allergies, colon cancer, glucose intolerance, and irritable bowel syndrome leading to diseases such as tendonitis, arthritis, chronic cholecystitis, among others. The carrageenan is not digestible and possess no nutritional value and is prominently used for emulsifying and thickening the products.
Carrageenan Market: Dynamics:
Rising demand for processed foods along with the increasing demand for organic ingredients to meet rising awareness for processed food ingredients is expected to drive the global carrageenan market over the forecast period. Furthermore, properties of carrageenan such as texturing, thicker, stabilizer, and gelling agent are projected to augment the growth of carrageenan market in the near future. Significant use of carrageenan in nutritional formulations, processed meats, toothpaste, milk products, skin preparations, laxatives, pesticides, among others to further drive the global carrageenan market during the forecast period.
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However, various health effects associated with carrageenan and the possibility to trigger bloating, glucose intolerance, inflammation to lead towards alarming usage and is estimated to hamper the growth of global carrageenan market during the forecast period. Recently, some government organizations such as National Organic Standards Board voted to remove the carrageenan from their approval list and foods with carrageenan shall no longer be labelled as USDA organic. This may further affect the consumption of carrageenan and is projected to hinder the global carrageenan market growth in the near future.
Carrageenan Market: Segmentation:
Global carrageenan market can be segmented on the basis of source, function, and application. On the basis of source, global carrageenan market can be segmented into:
- Animals, and
On the basis of function, global carrageenan market can be segmented into:
On the basis of application, global carrageenan market can be segmented into:
- Meat & Products
Carrageenan Market: Regional Outlook:
The global carrageenan market is majorly driven by North America and European market where the consumption of processed and bakery food is primary. However, with the rising awareness for health and to avoid triggering of various related diseases, the market for carrageenan in U.S. and EU-5 countries is expected to be affected and might get hamper. On the other hand, the rising population and increasing per capita income of consumers in Asia Pacific along with increasing demand for dairy foods, confectionaries, meat and related products to augment the growth of carrageenan market during the forecast period.
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Middle East and Africa and Latin American market of carrageenan is expected to register considerable growth in the carrageenan consumption with demand for food and beverages and rising low-fat food intake to avoid sugar related problems.
Carrageenan Market: Participants:
Some of the market participants in the global carrageenan market are:
- Ashland Inc
- TIC Gums
- Prinova Europe Limited
- Cargill, Incorporated
- Tate & Lyle
- RICO Carrageenan
- Aquarev Industries
- CP Kelco
- Max USA Corp.