Selbyville, Delaware, May 10, 2023 (GLOBE NEWSWIRE) --
The carrageenan market valuation is expected to exceed USD 1.5 billion by 2032, as reported in a research study by Global Market Insights Inc.
Rising consumer preference for convenience food products, including ready-to-eat meals and snacks driven by the emergence of busy lifestyles will influence the market demand. According to a survey by the National Center for Health Statistics, 36.6% of adults in the U.S. consume fast-food on any given day. Carrageenan is widely incorporated in fast-food products as it helps to improve their texture and stability. The increasing use of additives for thickening, emulsifying, and preserving foods and drinks will also drive the addition of carrageenan in food products.
The carrageenan market from lambda segment will witness over 2.3% CAGR from 2023 to 2032. The growth can be attributed to the rising demand for this type of carrageenan given its higher molecular weight and the ability of not forming gels when combined with calcium ions. Lambda carrageenan is excessively used in dressings, sauces, and beverages as it forms viscous and elastic solutions to impart improved texture. Increasing need to thicken dairy and plant-based milks and syrups will also add to the product preference.
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The carrageenan market from the stabilizers segment is estimated to cross USD 420 million by 2032. Carrageenan is largely employed as a stabilizer across the food sector as it helps to limit the separation and settling of ingredients in food items. It is also used for enhancing the consistency, texture, and appearance of the final products. Rising need for stabilizing ice cream, cooked ham, chocolate milk, and beer will also uplift the carrageenan demand.
Asia Pacific carrageenan industry will exhibit more than 6.7% CAGR between 2023 and 2032, due to thriving demand mainly in China, Indonesia, India, and Thailand. The rapidly expanding processed food sector is driving the adoption of carrageenan in India. As per Invest India, the output of the food processing sector in India is likely to reach $535 Bn by 2025-26. The increasing dairy consumption in China will also boost the industry growth.
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Major players involved in the carrageenan market are DuPont, Kelco U.S., Gelymar, Ingredion Incorporated, W Hydrocolloids, Inc., Cargill, Inc., Ceamsa, Ashland, CP Inc., Caldic B.V., and ACCEL Carrageenan Corporation. These companies are implementing acquisitions, capacity expansions, partnerships, and mergers for scaling their revenues. For instance, in May 2019, Gelymar S.A. doubled down its carrageenan production capacity to about 10,000 tonnes via a $15 million expansion program in Chile.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Carrageenan Market 360º synopsis, 2018 – 2032
2.1.1 Business trends
2.1.2 Type trends
2.1.3 Function trends
2.1.4 Application trends
2.1.5 Regional trends
Chapter 3 Carrageenan Market Industry Insights
3.1 Industry segmentation
3.2 Industry size and forecast, 2018 - 2032
3.2.1 COVID-19 impact on the industry landscape
3.3 Industry ecosystem analysis
3.3.1 Profit margin at each stage
3.3.2 Value addition at each stage
3.3.3 Raw material analysis
3.3.3.1 COVID-19 impact on raw material supply
3.3.4 Distributor channel analysis
3.3.4.1 Value chain disruption analysis (COVID-19 impact)
3.3.5 Vendor matrix
3.3.5.1 List of key manufacturers
3.3.5.2 List of key distributors
3.4 Innovation & sustainability
3.4.1 Patent analysis
3.4.2 Technology landscape
3.4.2.1 Innovations in carrageenan technology
3.4.2.2 Material and raw material advancement
3.4.3 Future trends
3.5 Industry impact forces
3.5.1 Growth drivers
3.5.1.1 Increasing demand for convenience foods
3.5.1.2 Growing demand for natural and organic ingredients
3.5.1.3 Expansion of the food industry in developing countries
3.5.2 Industry pitfalls & challenges
3.5.2.1 Competition from alternative ingredients
3.6 Regulatory landscape
3.6.1 U.S.
3.6.2 Europe
3.6.3 Asia
3.7 Growth potential analysis
3.8 Regional price trends
3.8.1 Cost structure analysis
3.8.2 Price by product
3.8.3 COVID-19 impact on pricing
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 PESTEL analysis
3.12 COVID-19 impact on carrageenan demand
3.13 Impact of Russia – Ukraine war on Carrageenan Market
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
