Global Carrageenan Market supply Overview:
The global carrageenan market to grow with a CAGR between 5% and 6.0% from 2017 to 2025. Carrageenan is extracted from red edible seaweeds. They are widely used in the food industry, for their gelling, thickening, and stabilizing properties. Their main application is in dairy and meat products, due to their strong binding to food proteins. Carrageenan are large, highly flexible molecules that form curling helical structures, enabling them the ability to form a variety of different gels at room temperature. There are three main commercial classes of carrageenan, Kappa, Iota, and Lambda. In parts of Scotland and Ireland, where it is known by a variety of local and native names, Chondrus crispus is boiled in milk and strained, before sugar and other flavorings such as vanilla, cinnamon, brandy, or whisky are added. The end-product is a kind of jelly similar to panna cotta, tapioca, or blancmange.
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Global Carrageenan Market supply – Drivers and Restraints:
The carrageenan seaweed extract market is witnessing growth in the food and beverages industry due to the rising application of carrageenan to regulate the water content in meat products. They are also used to provide the desired texture to confectionary products, water-based desserts, fruit preparation and stabilize ice creams. This will have a positive impact on the market’s growth for the next four years. Increasing consumption of processed foods is the reason for driving the carrageenan market. Growing demand for hydrocolloids and alternative to animal-sourced gelatin are other reasons for the increasing demand. Fluctuating raw material prices, high cost of products and health concerns related to gastrointestinal and inflammatory diseases are considered as restraints for the market. Availability of alternatives is also a major drawback for the market.
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Global Carrageenan Market supply – Geographical Segmentation:
The Carrageenan Market is geographically segmented into North America, Europe, Asia Pacific, and Rest of the World. The Asia-Pacific dominated the world market, while North America and Europe are anticipated to grow significantly in terms of CAGR over the forecast period. The largest producer of industrial carrageenan was the Philippines, where cultivated seaweed produces about 80% of the world supply, while China is the main exporter to global markets in the US and Europe.
Key Players in Global Carrageenan Market supply:
The key players of the carrageenan market are ACCEL, Cargill Inc, Danisco, Gelymar SA, Greenfresh, Karagen Indonesia, Kelco, Kerry Group Plc, Seatech Carrageenan Company, Shemberg, TIC Gums Corporation and Xieli.
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