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CARRAGEENAN GUM MARKET ANALYSIS | Coherent Market Insights

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CARRAGEENAN GUM MARKET ANALYSIS | Coherent Market Insights

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ Covid-19 Impact Tracker

  2. CARRAGEENAN GUM MARKET ANALYSIS • Carrageenan Gum Market, By Application (Food & Beverages (Dairy Products, Meat Products, Confectionery & Bakery, Beverages, Salads & dressings), Personal Care & Toiletries (Toothpaste, Air Fresheners, Cosmetics), Pharmaceuticals, Feed & Pet Food), and By Region (North America, Latin America, Europe, Asia-pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027 • The global carrageenan gum market is projected to reach over US$ 1100 million by the end of 2027, in terms of revenue, growing at CAGR of 4.0% during the forecast period (2019 to 2027).

  3. Drivers • Growing usage of carrageenan gum in processed food as thickener, protein stabilizer, particle suspension and emulsifying the agent is predominantly fueling market growth. It is used in ice creams, dairy-based products, salad dressings, sour cream, and chocolate milk. Furthermore, it is also used across food applications such as beverages, confectioneries, and bakery products. Therefore, the growing consumption of carrageenan gum in various processed foods is anticipated to propel the overall market growth of carrageenan gum.

  4. Growing demand for carrageenan gum from the cosmetic industry is estimated to foster market growth over the forecast period. Carrageenan gum is used in the production of skincare products such as shaving creams, cream deodorants, and body lotions. Moreover, carrageenan gum is also used in manufacturing toothpaste and air freshener’s product, because it has excellent controlling texture and fluidity property. Therefore, rising demand for carrageenan gum from the cosmetic industry is expected to propel the market growth over the forecast period.

  5. Figure 1. Global Carrageenan gum Market, Revenue Share (%), By Region, 2018

  6. Market Restraints • Growing usage of carrageenan as a food ingredient in various food items and rising concerns regarding the risk of inflammation and colon cancer in humans is a major factor hindering the demand for carrageenan gum, thereby hampering the market growth of carrageenan gum. According to the Coherent Market Insights analysis, in November 2016, The National Organic Standard Boards voted to remove carrageenan from the national list of allowed substances in organic food. Therefore, the aforementioned factor is restricting market growth.

  7. Availability of cheaper substitute such as agar to replace carrageenan as it has excellent gelling properties owing to the presence of highly soluble fiber content is hindering the market growth of carrageenan gum. Moreover, agar powder is an excellent vegan gelling agent which makes it ideal for making gelatin-based desserts. Therefore, the availability of cheaper substitute for carrageenan gum is hampering the market growth.

  8. Market Opportunities • Growing application of Carrageenan Gum in infant’s formula is expected to offer potential growth opportunity to the market of carrageenan gum over the forecast timeframe. Growing urban population, along with improving consumer lifestyle are some of the major factors propelling the market growth of carrageenan-based infant formula products. This is expected to foster market growth. For instance, in June 2015, the Joint Expert Committee on Food Additives released a technical report regarding the safety of carrageenan in infant formula.

  9. Rising demand for personal care products especially in Asia Pacific region is expected to create lots of opportunities for the market of carrageenan gum. Huge demand for personal care products and organic cosmetics products is expected to increase the sales of carrageenan gum ingredients, which in turn augmenting the market growth of carrageenan gum. Therefore, the growing demand for organic personal care products are anticipated to foster market growth over the forecast timeframe. 

  10. Figure 2. Global Carrageenan gum Market – Opportunity Analysis

  11. Market Trends • Growing focus of manufacturers to launch various blends of carrageenan gum in a variety of beverages with excellent consistent quality is expected to accelerate the market growth of carrageenan gum. For instance, in May 2015, Cargill launched a new range of sustainable carrageenan – Satiagel ABN 500 – which is mainly sourced from farmed seaweed. This range of carrageenan can be used in various beverages and offers various health benefits such as supports the digestive system and manages stomach irritation

  12. Rising focus of carrageenan gum manufacturers to promote usage of carrageenan gum, by participating in various international events such as trade shows, etc. to expand their customer base is expected to foster the market growth of carrageenan gum. For instance, in March 2016, W. Hydrocolloids Inc. participated in Food Ingredients China (FIC) 2016, which is an international event, to showcase its carrageenan and other hydrocolloid products and expand customer base. Another example, in September 2016, FMC Corporation’s Health and Nutrition Business showcased carrageenan-based soft gel capsule technology – SeaGel – at the Supply Side West Trade Show in Las Vegas, U.S.

  13. Figure 3. Global Carrageenan gum Market, Revenue Share (%), By Application, in 2018

  14. Competitive Section • Key players active in the global carrageenan gum market are CP Kelco U.S., Marcel Trading Corporation, FMC Corporation, E. I. du Pont de Nemours and Co., ExtractosNaturales, Gelymar, Ingredients Solutions, Inc., Kerry Group, Cargill, Incorporated, Altrafine Gums, W Hydrocolloids, Inc., and CEAMSA.

  15. Few Recent Developments • Cargill, Incorporated • In May 2015, Cargill Incorporated introduced a new range of carrageenan obtained from seaweed – Satiagel ABN 500 – as a part of its texturing solution offerings • In May 2015, Cargill, Incorporated introduced a new range of carrageenan, Satiagel ABN 500, obtained from seaweed as a texturing solution under its emulsifiers and texturizers portfolio

  16. FMC Corporation • In September 2016, FMC Corporation exhibited solutions under its health and nutrition segment, targeting the pharmaceuticals and nutraceuticals and nutrition industries, at Supply Side West, 2016, which is an exhibition focusing on dietary supplement, food and beverages and others that brings together suppliers and buyers • In June 2015, in collaboration with the International Formula Council, the company conducted and funded a study attesting to the safety of carrageenan in food consumed by infants. The Joint Expert Committee on Food Additives (JECFA) reviewed the event and concluded that carrageenan can be used in infant food, for special medical purposes at a concentration up to 1000mg/l.

  17. REQUEST SAMPLE • DOWNLOAD PDF BROCHURE • REQUEST CUSTOMIZATION • TALK TO ANALYST REFERENCE: https://www.coherentmarketinsights.com/market-insight/carrageenan-gum-market-3443

  18. About Us: Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

  19. Contact Us: Mr. Shah Coherent Market Insights Pvt.Ltd. Address: 1001 4th Ave, #3200 Seattle, WA 98154, U.S. Phone: +1-206-701-6702 Email: sales@coherentmarketinsights.com

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