Carrageenan Market - Global Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2018–2023)

Carrageenan is a food additive extracted from a seaweed called Irish moss. Though there is no major
health benefit associated with its usage, Carrageenan is majorly used as a thickener and emulsifier to
enhance the surface of dessert, yogurt, curds, soy drain, and other food products.
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According to the Global Carrageenan Market Research Report, the market was worth USD 820 million in
2018 and estimated to be growing at a CAGR of 5.4%, to reach USD 1070 million by 2023.
The major driving factors of the market include growing usage of processed food globally, increasing
functional applications of Carrageenan, and rising demand for natural food additives.
The concerns over the possible side effects of extreme usage of Carrageenan might restrict the market
growth. Also, Factors like increasing alternatives and high product cost are also suspected to restrict the
market expansion.
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Geographically, the market is categorized into North America, Latin America, Asia-pacific, Europe and
Middle East & Africa. Asia-pacific is dominating the market currently while Europe and Latin America are
also contributing immensely to production and consumption of Carrageenan.
Some of the key players of Carrageenan market include AEP Colloids, Shemberg Marketing Corporation,
Ingredients Solutions Inc., Gelymar SA, Soriano SA, Marcel Trading Corporation, Danisco A/S, Scalzo
Food Industries, Altrafine Gums, and TIC Gums Incorporation.
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Market By Type (Kappa, Lota And Lambda), By Application (Food Industry (Dairy, Meat, Beverages And Pet Food), Pharmaceutical Industry And Cosmetics Industry), By Grade (Refined Carrageenan And Semi Refined Carrageenan), By Seaweed Source (Gigartina, Chondrus, Iridaea And Eucheuma) And By Region