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Carrageenan Market Size, Share & Trends Analysis Report By Processing Technology (Semi-refined, Gel Press, Alcohol Precipitation), By Function, By Product Type, By Application, By Region, And Segment Forecasts, 2023 - 2030

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    Report

  • 150 Pages
  • March 2023
  • Region: Global
  • Grand View Research
  • ID: 5450249
The global carrageenan market size is expected to reach USD 1.32 billion by 2030 to expand at a CAGR of 5.4% from 2023 to 2030. The rising demand for plant-based thickeners and stabilizers for replacing synthetic and animal-derived ingredients in food and beverage applications is expected to drive the product demand. As per the Food & Agricultural Organization (FAO), Asia held the largest share in seaweed production globally as of 2020. Southeast Asian countries including Indonesia, the Philippines, and Malaysia are a few of the major cultivators of seaweed providing growth opportunities for local carrageenan manufacturers with abundant raw material availability.

The market is fragmented with numerous market participants present across the value chain. Hydrocolloids manufacturers including Cargill Incorporated, CP Kelco, and DuPontare integrated across the value chain. The companies source their own raw materials, for instance, red seaweed such as Kappaphycusalvarezzi, Eucheumadenticulatum, Sarcothalia, Gigartina, and Chondruscripus is used for carrageenan production.

The manufacturers are engaged in R&D activities for developing innovative extraction techniques and producing high-quality products that can cater to demand from various end-use industries. For instance, in February 2021, Marinomed Biotech AG, a biopharmaceutical company, announced the development of a nasal spray that is formulated with iota-carrageenan. The company stated that this product can be used as a preventive measure for COVID-19.

Carrageenan Market Report Highlights

  • The semi-refined processing technology segment dominated the market with a revenue share of over 50.1% in 2022 owing to its low cost compared to other methods. It can be used to form kappa as well as iota carrageenan that majorly find applications in food products
  • By product type, the kappa carrageenan segment is expected to register the highest CAGR in terms of revenue over the forecast period owing to its growing demand in the manufacturing of sauces, speeds, jellies, poultry rolls, and cooked cured ham. Its rising usage in non-food applications, such as toothpaste, tablets, and air freshener gels, is expected to support the segment growth
  • The pharmaceutical application segment is expected to expand at a revenue-based CAGR of 6.1% over the forecast period as the manufacturing companies are strongly focusing on the formulation of pharmaceutical-grade carrageenan. For instance, Ina Food Industry Co., Ltd. offers Iota Carrageenan PA-2 that can be specifically used for pharmaceuticals and quasi-drugs
  • Europe held the largest revenue share of 34.4% in 2022 owing to the widening of product portfolio and regional expansion of players operating in the region. For instance, in April 2021, Bang & Bonsomer, based in Finland, acquired all shares of Eurogum A/S, Denmark, and EurogumPolskaSp Zoo, Poland. Eurogum is engaged in the production of carrageenan and alginate for the food industry. This move is expected to strengthen the former’s position in food ingredients and help in business expansion in Europe
  • Prominent carrageenan manufacturers are focusing on new product development to strengthen their market presence. For instance, in May 2021, Gelymar developed sustainable texturing agents, including CarraLact VPD and CarraLact VFL. These are based on KII carrageenan, which is a natural food hydrocolloid. These can be used in vegan ready-to-eat and instant desserts


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Frequently Asked Questions about the Global Carrageenan Market

What is the estimated value of the Global Carrageenan Market?

The Global Carrageenan Market was estimated to be valued at $871.66 Million in 2022.

What is the growth rate of the Global Carrageenan Market?

The growth rate of the Global Carrageenan Market is 5.4%, with an estimated value of $1320 Million by 2030.

What is the forecasted size of the Global Carrageenan Market?

The Global Carrageenan Market is estimated to be worth $1320 Million by 2030.

Who are the key companies in the Global Carrageenan Market?

Key companies in the Global Carrageenan Market include DuPont, Ingredion Incorporated, Ashland, CP Kelco U.S., Inc., Cargill, Inc., Ceamsa, W Hydrocolloids, Inc., Gelymar, Caldic B.V. and Ina Food Industry Co. Ltd..

Table of Contents

Chapter 1 Methodology and Scope
1.1 Market Segmentation & Scope
1.2 Market Definition
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 Internal Database
1.4 Information analysis
1.5 Market formulation & data visualization
1.6 Data validation & publishing
1.6.1 Research scope and assumptions
1.6.2 List to Data Sources
Chapter 2 Executive Summary
2.1 Market Snapshot
2.2 Segment Snapshot
2.3 Competitive Landscape Snapshot
Chapter 3 Carrageenan: Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1 Global Hydrocolloids Market Outlook
3.1.1.1 Outlook on Application Market
3.2 Industry Value Chain Analysis
3.2.1 raw material trends
3.2.2 manufacturing trends
3.2.3 Technology Outlook
3.2.4 Sales Channel Analysis
3.2.5 List of Key-End Users
3.3 Price Trend Analysis
3.3.1 Factors Influencing Prices
3.4 Regulatory Framework
3.5 Market Dynamics
3.5.1 Market Driver Analysis
3.5.1.1 Upsurge in the Consumption of convenience foods
3.5.1.2 Burgeoning consumer demand for healthier lifestyle
3.5.2 Market Restraint Analysis
3.5.2.1 Demand supply imbalance and volatile raw material price
3.5.3 Industry Challenges
3.5.3.1 Unclear Labeling Leading to Ambiguity and Uncertainty
3.5.3.2 Potential Market Predominantly Using Conventional Ingredients, Inhibiting Growth
3.5.3.3 Limited Consumer Awareness and Product Positioning
3.5.3.4 Increasing Awareness Regarding Animal Feed and Feed Additives
3.5.4 Industry Opportunities
3.6 Business Environment Analysis
3.6.1 Industry Analysis - Porter
3.6.2 Macroeconomic Analysis: PESTEL Analysis
Chapter 4 Carrageenan Market: Processing Technology Estimates & Trend Analysis
4.1 Processing Technology Movement Analysis & Market Share, 2022 & 2030
4.1.1 Alcohol Precipitation Process
4.1.2 Gel Press Process
4.1.3 Semi-Refined Process
Chapter 5 Carrageenan Market: Function Estimates & Trend Analysis
5.1 Function Movement Analysis & Market Share, 2022 & 2030
5.1.1 Thickening Agent
5.1.2 Gelling Agent
5.1.3 Stabilizer
5.1.4 Other Functions
Chapter 6 Carrageenan Market: Product Estimates & Trend Analysis
6.1 Product Movement Analysis & Market Share, 2022 & 2030
6.1.1 Kappa
6.1.2 Iota
6.1.3 Lambda
Chapter 7 Carrageenan Market: Application Estimates & Trend Analysis
7.1 Application Movement Analysis & Market Share, 2022 & 2030
7.1.1 Food & Beverages
7.1.1.1 Bakery
7.1.1.2 Confectionery
7.1.1.3 Meat Products
7.1.1.4 Dairy Products
7.1.1.5 Sauces & Dressings
7.1.1.6 Beverages
7.1.1.7 Other Food & Beverage Application
7.1.2 Pharmaceutical
7.1.3 Personal Care & Cosmetics
7.1.4 Other Applications
Chapter 8 Carrageenan Market: Regional Estimates & Trend Analysis
8.1 Carrageenan Market: Regional Outlook
8.2 North America
8.2.1 North America Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
8.2.2 U.S.
8.2.2.1 Key country dynamics
8.2.2.2 U.S. Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
8.2.3 Canada
8.2.3.1 Key country dynamics
8.2.3.2 Canada Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
8.3 Europe
8.3.1 Europe Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
8.3.2 Germany
8.3.2.1 Key country dynamics
8.3.2.2 Germany Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
8.3.3 U.K.
8.3.3.1 Key country dynamics
8.3.3.2 U.K. Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
8.3.4 France
8.3.4.1 Key country dynamics
8.3.4.2 France Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
8.3.5 Italy
8.3.5.1 Key country dynamics
8.3.5.2 Italy Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
8.4 Asia Pacific
8.4.1 Asia Pacific Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
8.4.2 China
8.4.2.1 Key country dynamics
8.4.2.2 China Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
8.4.3 India
8.4.3.1 Key country dynamics
8.4.3.2 India Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
8.4.4 Japan
8.4.4.1 Key country dynamics
8.4.4.2 Japan Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
8.4.5 South Korea
8.4.5.1 Key country dynamics
8.4.5.2 South Korea Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
8.5 Latin America
8.5.1 Latin America Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
8.5.2 Mexico
8.5.2.1 Key country dynamics
8.5.2.2 Mexico Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
8.5.3 Brazil
8.5.3.1 Key country dynamics
8.5.3.2 Brazil Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
8.5.4 Argentina
8.5.4.1 Key country dynamics
8.5.4.2 Argentina Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
8.6 Middle East & Africa
8.6.1 Middle East & Africa Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
8.6.2 Saudi Arabia
8.6.2.1 Key country dynamics
8.6.2.2 Saudi Arabia Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
8.6.3 South Africa
8.6.3.1 Key country dynamics
8.6.3.2 South Africa Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
Chapter 9 Competitive Landscape
9.1 Participant’s Overview
9.2 Financial Performance
9.3 Product Benchmarking
9.4 Recent Developments & Impact Analysis, By Key Market Participants
9.5 Company Categorization
9.6 Company Market Positioning
9.7 Company Heat Map Analysis
9.8 Strategy Mapping
9.8.1 expansion
9.8.2 mergers & acquisition
9.8.3 collaborations
9.8.4 new product launches
List of Tables
Table 1 List of key end users
Table 2 U.S. macro-economic outlay
Table 3 Canada macro-economic outlay
Table 4 Germany macro-economic outlay
Table 5 U.K. macro-economic outlay
Table 6 France macro-economic outlay
Table 7 Italy macro-economic outlay
Table 8 China macro-economic outlay
Table 9 India macro-economic outlay
Table 10 Japan macro-economic outlay
Table 11 South Korea macro-economic outlay
Table 12 Mexico macro-economic outlay
Table 13 Brazil macro-economic outlay
Table 14 Argentina macro-economic outlay
Table 15 Saudi Arabia macro-economic outlay
Table 16 South Africa macro-economic outlay
Table 17 Participant’s Overview
Table 18 Financial Performance
Table 19 Product Benchmarking
Table 20 Recent Developments & Impact Analysis, By Key Market Participants
Table 21 Company Heat Map Analysis
Table 22 Key Companies undergoing expansions.
Table 23 Key Companies involved in M&As
Table 24 Key Companies undergoing collaborations.
Table 25 Key Companies launching new products
List of Figures
Fig. 1 Carrageenan Market Segmentation & Scope
Fig. 2 Information procurement
Fig. 3 Data analysis models
Fig. 4 Market formulation and validation
Fig. 5 Data validating & publishing
Fig. 6 Carrageenan Market Snapshot
Fig. 7 Carrageenan Market Segment Snapshot
Fig. 8 Carrageenan Market Segment Snapshot
Fig. 9 Carrageenan Market Competitive Landscape Snapshot
Fig. 10 Carrageenan Market Value, 2022 (USD Million)
Fig. 11 Carrageenan Market - Value Chain Analysis
Fig. 12 Carrageenan Market - Price Trend Analysis 2018 - 2030 (USD/kg)
Fig. 13 Carrageenan Market - Market Dynamics
Fig. 14 Global baked foods market volume, 2013-2024 (in million tons)
Fig. 15 PORTER’S Analysis
Fig. 16 PESTEL Analysis
Fig. 17 Carrageenan Market Estimates & Forecasts, by Processing Technology: Key Takeaways
Fig. 18 Carrageenan Market Share, By Processing Technology, 2022 & 2030
Fig. 19 Carrageenan Market Estimates & Forecasts, by Alcohol Precipitation Process, 2018 - 2030 (Tons) (USD Million)
Fig. 20 Carrageenan Market Estimates & Forecasts, by Gel Press Process, 2018 - 2030 (Tons) (USD Million)
Fig. 21 Carrageenan Market Estimates & Forecasts, by Semi-Refined Process, 2018 - 2030 (Tons) (USD Million)
Fig. 22 Carrageenan Market Estimates & Forecasts, by Function: Key Takeaways
Fig. 23 Carrageenan Market Share, By Function, 2022 & 2030
Fig. 24 Carrageenan Market Estimates & Forecasts, in Thickening Agent, 2018 - 2030 (Tons) (USD Million)
Fig. 25 Carrageenan Market Estimates & Forecasts, in Gelling Agent, 2018 - 2030 (Tons) (USD Million)
Fig. 26 Carrageenan Market Estimates & Forecasts, in Stabilizer, 2018 - 2030 (Tons) (USD Million)
Fig. 27 Carrageenan Market Estimates & Forecasts, in Other Functions, 2018 - 2030 (Tons) (USD Million)
Fig. 28 Carrageenan Market Estimates & Forecasts, by Product: Key Takeaways
Fig. 29 Carrageenan Market Share, By Product, 2022 & 2030
Fig. 30 Kappa Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
Fig. 31 Iota Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
Fig. 32 Lambda Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
Fig. 33 Carrageenan Market Estimates & Forecasts, by Application: Key Takeaways
Fig. 34 Carrageenan Market Share, By Application, 2022 & 2030
Fig. 35 Carrageenan Market Estimates & Forecasts, in Food & Beverages, 2018 - 2030 (Tons) (USD Million)
Fig. 36 Carrageenan Market Estimates & Forecasts, in Bakery, 2018 - 2030 (Tons) (USD Million)
Fig. 37 Carrageenan Market Estimates & Forecasts, in Confectionery, 2018 - 2030 (Tons) (USD Million)
Fig. 38 Carrageenan Market Estimates & Forecasts, in Meat Products, 2018 - 2030 (Tons) (USD Million)
Fig. 39 Carrageenan Market Estimates & Forecasts, in Dairy Products, 2018 - 2030 (Tons) (USD Million)
Fig. 40 Carrageenan Market Estimates & Forecasts, in Sauces & Dressings, 2018 - 2030 (Tons) (USD Million)
Fig. 41 Carrageenan Market Estimates & Forecasts, in Beverages, 2018 - 2030 (Tons) (USD Million)
Fig. 42 Carrageenan Market Estimates & Forecasts, in Other Food & Beverage Application, 2018 - 2030 (Tons) (USD Million)
Fig. 43 Carrageenan Market Estimates & Forecasts, in Pharmaceutical, 2018 - 2030 (Tons) (USD Million)
Fig. 44 Carrageenan Market Estimates & Forecasts, in Personal Care & Cosmetics, 2018 - 2030 (Tons) (USD Million)
Fig. 45 Carrageenan Market Estimates & Forecasts, in Other Applications, 2018 - 2030 (Tons) (USD Million)
Fig. 46 Carrageenan Market Revenue, by Region, 2022 & 2030 (USD Million)
Fig. 47 North America Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
Fig. 48 U.S. Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
Fig. 49 Canada Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
Fig. 50 Europe Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
Fig. 51 Germany Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
Fig. 52 U.K. Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
Fig. 53 France Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
Fig. 54 Italy Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
Fig. 55 Asia Pacific Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
Fig. 56 China Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
Fig. 57 India Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
Fig. 58 Japan Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
Fig. 59 South Korea Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
Fig. 60 Latin America Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
Fig. 61 Mexico Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
Fig. 62 Brazil Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
Fig. 63 Argentina Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
Fig. 64 Middle East & Africa Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
Fig. 65 Saudi Arabia Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
Fig. 66 South Africa Carrageenan Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Million)
Fig. 67 Key Company Categorization
Fig. 68 Company Market Positioning
Fig. 69 Strategy Mapping

Companies Mentioned

  • DuPont
  • Ingredion Incorporated
  • Ashland
  • CP Kelco U.S., Inc.
  • Cargill, Inc.
  • Ceamsa
  • W Hydrocolloids, Inc.
  • Gelymar
  • Caldic B.V.
  • Ina Food Industry Co. Ltd.
  • PT. Gumindo Perkasa Industri
  • ACCEL Carrageenan Corporation
  • BLG
  • MCPI Corporation
  • AEP Colloid
  • Marcel Carrageenan
  • TBK Manufacturing Corporation
  • Shemberg Ingredients and Gums Corporation
  • Prinova Group LLC
  • LAUTA Ltd.
  • Aquarev Industries
  • Bang &Bonsomer
  • AgargelIndustria e ComercioLtda
  • Zhenpai Hydrocolloids Co., Ltd.
  • Tate & Lyle

Methodology

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