According to a recent analysis by The Insight Partners, The Carrageenan Market is expected to grow from US$ 880 million in 2022 to US$ 1,420 million by 2028; it is expected to grow at a CAGR of 6.0% from 2022 to 2028.
A family of naturally occurring linear sulfated polysaccharides known as carrageenan is taken from red edible seaweeds. Carrageenan's gelling, thickening, and stabilising properties make it a popular ingredient in the food and beverage business. Dairy and meat products are where carrageenan is most commonly used because of their capacity to attach to dietary proteins. Due to their similarity to natural glycosaminoglycans, they have recently been used extensively in tissue engineering, regenerative medicine applications, wound healing, and drug delivery (GAGs).
Food producers favour components that can enhance certain aspects of their products, like mouthfeel. Carrageenan is a hydrocolloid that is utilised in a variety of food items for coating, stabilising, emulsifying, thickening, and other purposes. From heat-treated dairy products to jelly and confectionary goods, a variety of food products use hydrocolloids. It is a versatile substance that behaves differently in water and milk. Additionally, carrageenan is mostly employed as a thickening and gelling ingredient in the beverage industry. It also has the ability to interact with proteins in dairy products, giving stabilising effects. The market for carrageenan is expanding rapidly as a result of these factors.
Based on type, the carrageenan market is segmented into kappa, iota, and lambda. The kappa segment is expected to grow with the highest CAGR from 2022 to 2028. Kappa-type carrageenan is majorly used in ice creams, puddings, chocolates, and cheese. For instance, MCLS EUROPE, a wholly owned subsidiary of Mitsubishi Corporation, offers pure refined Kappa carrageenan that is used in dairy and dessert products as a gelling and swelling agent and a fat replacer. These factors are expected to boost the demand for kappa carrageenan across the globe.
Furthermore, in order to draw in a wide number of customers, manufacturers are investing a lot on strategic development projects. For instance, Biesterfeld and CP Kelco declared in 2020 that they will be expanding their collaboration in Europe's nutrition and food sector. As part of this alliance, Biesterfeld anticipates distributing the latter's carrageenan products throughout the continent of Europe, which will expand their market reach and sales. Such efforts are anticipated to accelerate product development and support the carrageenan market's expansion in the ensuing years.
Cargill, Incorporated; Marcel Carrageenan; CP Kelco Inc; Ingredion.; Gelymar; TBK Manufacturing Corporation.; SARDA Bio Polymers PVT. LTD; CEAMSA; PT Cahaya Cemerlang; and Altrafine Gums are a few of the key players profiled in the study of the carrageenan market. Several other major companies were analyzed in this research study to get a holistic view of the market and its ecosystem.
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