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As per our research analysis, The Global Carrageenan Market size was valued at USD 931.6 million in 2021 and is predicted to grow at a CAGR of around 5.6 % during the forecast period of 2022 – 2027
Carrageenan is an additive and natural component of red algae or Irish moss and is a natural ingredient used to emulsify, concentrate and store foods and beverages. Carrageenan is a water-soluble fiber that makes low-fat and low-fat options taste better than sugar and makes certain foods more nutritious. In addition, carrageenan helps stabilize foods and beverages by preventing them from separating. For example, chocolate settles on the bottom of chocolate milk without carrageenan. The main uses of carrageenan as a raw material are yogurt, meat products and walnut milk. In Addition, soy milk, hemp milk, deli meats, chocolate milk, cottage cheese, non-dairy desserts, vegan cheese, coconut milk, etc., are the main sources of carrageenan in the market Also, weaning infant formula, minimizing food waste by preventing spoilage, and adding creaminess to yogurt and ice cream are some of the benefits of carrageenan ingredients Carrageenan is not digested, but it has excellent uses for emulsifying foods. Several studies suggest that carrageenan intake may promote or trigger inflammation, swelling, food allergies, colon cancer, glucose intolerance, and irritable bowel syndrome, which can lead to diseases such as tendinitis, arthritis, and chronic cholecystitis. Carrageenan is not digested, but it has excellent uses for emulsifying foods.
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By Type: Kappa, Lota, Lambda
The Kappa segment had the largest revenue share of 67.8% in 2021. The most commonly product type in ice creams, cheese, puddings, and chocolates. For example, MCLS EUROPE, a wholly-owned subsidiary of Mitsubishi Corporation, provides pure and sophisticated Kappa carrageenan that can be used as a dairy and dessert products as gelling and swelling agents and fat replacers.
By Application: Food Industry, Pharmaceutical Industry, Cosmetic Industry
The food and beverage segment dominated the market in 2021 with a value share of 72.1%. Carrageenan is added to these products to change the viscosity and texture and improve the sensory properties. Used as an excipient in drug delivery systems.
It is also used as a foaming agent, wetting agent, solubilizing agent and stabilizer for pharmaceutical products. Increased R&D investment in drug formulations for the production of stable and effective products is expected to drive the segment growth.
By Grade: Refined Carrageenan, Semi-Refined Carrageenan
Based on grade, semi-refined carrageenan is anticipated to hold the largest market share because it helps in improving the properties of carrageenan.
By Seaweed Source: Gigartina, Chondrus, Iridaea, Eucheuma
Based on seaweed source, gigartina is likely to dominate the market during the forecast period due to its vast advantages.
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Regional Analysis: North America, Europe, Asia-Pacific, Latin America, Middle East and Africa
The global carrageenan market is divided by region into Asia Pacific (APEJ), Middle East and Africa (MEA), and the Japan region, excluding North America, Latin America, Western Europe, Eastern Europe, and Japan. As the number of applications grows, the Asia Pacific region is expected to dominate the region. The European Union and Latin America are also one of the top producers of carrageenan across the world. Within these regions, Europe is estimated to remains dominant during the outlook period, in terms of value and volume. The growth of the carrageenan market in European countries is said to be driven by several factors. One of the key factors complementing the growth of this market uptake of processed foods by European consumers. Changes in consumer lifestyles have turned consumers towards processed foods and accelerated the growth of the carrageenan market over a defined period of time. Of the countries of Europe, Germany and the United Kingdom, the total market share of the carrageenan market in the region will be 45% in 2021, but the Asia Pacific region is projected to grow during the forecast period with maximum growth. Carrageenan production is very high in countries in the southeastern part of the APAC region. The Philippines has a large market share in the region in terms of production. The United States is one of the largest exporters of Carrageenan, with the global average driving the North American market. Carrageenan markets in the Middle East and Africa and Latin America are likely to experience a significant increase in carrageenan consumption as food intake and low-fat food consumption increase to avoid sugar-related problems.
According to the article, carrageenan can increase rice yield by 65%. –
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