DUBLIN--(BUSINESS WIRE)--The "Carrageenan Gum Market - Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 - 2026" report has been added to ResearchAndMarkets.com's offering.
Global demand for Carrageenan Gum market was valued at approximately USD 834.7 million in 2019, and is expected to generate revenue of around USD 1082.2 million by end of 2026, growing at a CAGR of around 3.78 % between 2020 and 2026.
There has been rapid growth in the food and beverage industry around the globe. The sharp rise in demand for gelling agents, food additives fuels the growth of carrageenan gum market. Moreover, rising demand for processed food along with an increase in spending capacity per capita is expected to propel the market growth.
Furthermore, escalating food chain worldwide fosters the growth of carrageenan gum market. However, the presence of substitutes in the market such as cellulose and xanthan is the only restraint for the carrageenan gum market. Nevertheless, superior gelling and additive properties of carrageenan gum is likely to offer ample opportunities for the market in the forecast period.
The report provides a comprehensive view on analysis of Porter's Five Forces model for the carrageenan gum market. The study includes a market attractiveness analysis, wherein type, application, and end-user segments are benchmarked based on their market size, growth rate and general attractiveness. The report also analyzes several driving and restraining factors and their impact on the market during the forecast period.
Carrageenan gum can be characterized depending on the chemical composition such as lambda,iota and kappa. Iota and kappa are widely used as gelling agents in food and are obtained after reaction with calcium and potassium salts. Meat & poultry, dairy, water gels, toothpaste and others are some of the major applications for the carrageenan gum market. The dairy industry is the prominent segment owing to various applications of carrageenan gum in this industry. Ice- cream, chocolate milk, mixes are some of the products formed due to the use of carrageenan gum. Meat processing industry utilizes the carrageenan gum in precooked meat and chicken pieces.
On basis of end user, the carrageenan gum market can be segmented as food and beverage industry, pharmaceuticals, cosmetics and others. Food and beverage industry have several and diverse application of carrageenan gum. The carrageenan gum is used in dips, sauces, caramel, instant mixes and in the manufacturing of various dairy products. As carrageenan gum possesses the gelling property which is used as gelling agent in the pharmaceutical industry. Cosmetics has the huge stake in developing market for carrageenan gum in the forecast period.
Asia Pacific followed by Europe are the foremost markets for the carrageenan gum market. Some of the factors such as growing attraction towards processed and junk food along with rising disposable income have significantly contributed to the rising demand of carrageenan gum in this region. Moreover, growing population and the emergence of food and beverage industry particularly in India and China surge the growth of carrageenan gum market. In Europe, there is the sufficing increase in diary industry which aids the carrageenan gum market growth.
North America held the largest market for the pet food application in 2015. Latin America is likely to experience potent growth in coming years due to increasing demand for carrageenan gum in Brazil. The Middle East and Africa exhibits highest growth rate due to escalating meat and processed food industry.
Some of the leading profiles in the carrageenan gum market:
- Cargill Incorporated
- Soriano SA
- Shemberg Marketing Corporation
- Ingredients Solutions Inc
- AEP Colloids
- Marcel Trading Corporation
- FMC BioPolymer
- CP Kelco ApS
- Danisco A/S
- Shemberg Biotech Corporation
- Gelymar SA
Scope of the Report
Carrageenan Gum Market: Chemical Composition Segment Analysis
Carrageenan Gum Market: Application Segment Analysis
- Meat & poultry
- Water gels
Carrageenan Gum Market: End User Segment Analysis
- Food and beverage
For more information about this report visit https://www.researchandmarkets.com/r/77zwie