Carrageenan Gum Market, Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1449
Carrageenan Gum Market size is anticipated to witness dynamic growth owning to rise in health-conscious among customers. Increasing demand for food additives, emulsifying and gelling agents is expected to trigger the carrageenan gum market during forecast period. Expansion of end use industries including food & beverage, pharmaceuticals and personal care is expected to propel the product demand in future due to high demand of hydrocolloids for its excellent viscosity and gelling properties.
Food & beverage industry, is expected to remain as the key end use sector during forecast period. Rising demand for gelling agents especially in dips, dairy dessert, caramel sauces and other dairy & nondairy products will drive carrageenan gum market growth in future.
On the basis on chemical composition, the product is segmented into three grades include lambda, kappa and iota, which are formed by addition of calcium and potassium salts. Extensive use of the product grades in food & beverage sector is likely to fuel the product growth during forecast timeframe. High usage of the product in milk based materials is anticipated to propel the carrageenan gum demand due to its features include strong reactivity with variety of materials like milk proteins.
Further, demand for carrageenan gum market is growing substantially owing to increasing application in pharmaceutical industry especially as a gelling agent. Other application segment includes chocolate milk, water gels, processed eucheuma seaweed food grades, poultry & meat, pet food and toothpaste. Rising demand for precooked meat & poultry products is the major driving factor for carrageenan gum market growth in upcoming year.
Carrageenan gum belongs to gel forming and viscosifying polysaccharides family, which are extracted from red seaweed counterparts. As it contains an amount of sulfated polygalactan and cellulose along with 20% to 30% of ester sulfate and commercially available in powder form. The product is obtained from vegetarian source named as seaweed, which is considered as a substitute for gelatin jellies in the food & beverage industry. Nevertheless, increasing concern for inflammatory and gastrointestinal disorders among consumers are the some key restraining factors for carrageenan gum market growth. Additionally, the availability of substitutes is expected to hamper the product growth over the projected period.
Carrageenan gum market is segmented on the basis of production methods include by dissolving in alkaline solution and by recovery of itaconic acid from aqueous solution. When product is extracted through aqueous solution, it comes in semi refined powder form. Prior to use, the product needs approval from EU as a food additive. To produce variety of melting and non-melting gels, the product is combined with various gums include konjac flour, starch and locust bean gum.
North America is expected to fuel the carrageenan gum market due to its excessive application in animal and pet food segment.
Europe, led by Germany and UK is the potential market for the product to its extensive demand from end use industry leading to high import from various other nations. High consumption in dairy products will also fuel the regional growth.
Asia pacific is anticipated to propel the carrageenan gum market in future owing to increasing demand for fast & processed food. Demographic & income trend and industrialization are the key driving factors for the product market growth in this region.
The key carrageenan gum market players include Ingredients solutions, Cargill Incorporation, Shemberg biotech corporation, Marcel trading corporation, Rhodia, AEP Colloids, Danisco and Gelymar SA. Some other notable players include Soriano SA, CEAMSA, CP Kelco ApS and FMC BioPolymer.
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