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Carrageenan Market Trends, Growth, Industry & Revenue [2031]
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Carrageenan Market Trends, Growth, Industry & Revenue [2031]

Segments - Asia Pacific Carrageenan Market by Types (Kappa, Iota, and Lambda), Applications (Food Industry [Dairy Products, Beverages, and Others], Pharmaceutical Industry, Beauty & Personal Care Industry, and Others), and Geography (Japan, China, Australia, India, Philippines, and Rest of Asia Pacific) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

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Author : Anuradha B. More
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Fact-checked by : Vaibhav Chandola
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Editor : Shruti Bhat

Upcoming | Report ID :FB-1689 | 4.1 Rating | 72 Reviews | 170 Pages | Format : PDF Excel PPT

Report Description


The Asia Pacific carrageenan market size was USD 270 Million in 2022 and is likely to reach USD 467.12 Million by 2031, expanding at a CAGR of 6.28% during 2023–2031. The growth of the market is attributed to the rising preference for natural/organic products and increasing applications of natural hydrocolloids in the food & beverages industry.

Carrageenan is polysaccharide and a natural ingredient, which is used as an additive, derived from red seaweed or Irish moss. It is used as preservative in various food and pharmaceutical applications as well as to emulsify, stabilize thicken, and preserve food & beverages. Carrageenan can help to improve the taste of low-sugar and low-fat foods taste, thus making keep the food products nutritious.

Asia Pacific Carrageenan Market Outlook

Yogurt, meat products, and nut milks are the main applications of carrageenan. Other common sources of carrageenan available in the market includes soy milk, hemp milk, deli meats, chocolate milk, cottage cheese, non-dairy deserts, vegan cheeses, and coconut milk.

Some of the benefits of carrageenan usage as an ingredient are to reduce food waste by preventing spoilage and making yogurt & ice cream creamier. Undegraded and degraded are the two forms that are obtained from carrageenan. Undegraded is only approved for use in production of food products.

  • Growing demand for thickeners and gelling agents from the food & beverages industry is anticipated to drive the market expansion.

  • Increasing demand for carrageenan in non-food applications is projected to boost the market growth during the forecast period.

  • High demand for carrageenan in pharmaceuticals, personal care, and cosmetic products due to its sustainable functional properties is expected to propel the market growth.

  • Increasing consumption of the poultry products is anticipated to drive the market expansion during the forecast period.

  • Growing demand for convenience foods among health-conscious consumers is projected to spur the market growth.

  • Negative health effects linked with carrageenan such as bloating and inflammation can hamper the growth of the carrageenan market in the region.

  • Rising R&D investment to produce high-quality carrageenan is expected to offer opportunities for the market expansion.

Scope of Carrageenan Market Report

The report on the Asia Pacific carrageenan market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Carrageenan Market - Asia Pacific Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Types (Kappa, Iota, and Lambda), Applications (Food Industry [Dairy Products, Beverages, and Others], Pharmaceutical Industry, Beauty & Personal Care Industry, and Others)

Geographical Scope

Japan, China, Australia, India, Philippines, and Rest of Asia Pacific

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Cargill, Incorporated, MCPI Corporation, Accel Carrageenan Corporation, Marcel Carrageenan, and Caldic B.V.

 

Asia Pacific Carrageenan Market Segment Insights

Kappa segment to account a large market share

Based on types, the market is divided into kappa, iota, and lambda. The kappa segment held a major market share of around 65% in 2019, and is expected to dominate during the forecast period.

Kappa carrageenan is applicable in poultry rolls, turkey breast, and cooked cured ham. It forms gels with calcium and potassium salts as calcium creates a brittle and stiff gel. On the other hand, potassium produces an elastic and rigid gel. Kappa also provides the strong gels of all types of carrageenan.

Food industry segment to expand at a substantial CAGR

In terms of applications, the market is segmented into food industry, pharmaceutical industry, beauty & personal care industry, and others. The food industry is further segregated into dairy products, beverages, and others.

The food industry segment is accounted for more than 70% of the market share in 2019. The growth of this segment is attributed to the rising demand for processed food products, as well as increasing product consumption in the dairy industry.

Food & beverage manufacturers use carrageenan due to its ability to shift the rheology of food systems, including texture and viscosity. The dairy sub-segment is anticipated to expand at a high CAGR during the forecast period. Carrageenan is used as an additive in the dairy products, as it’s a safe food stabilizer that thickens and prolongs the shelf-life.

Asia Pacific Carrageenan Market Applications

China to dominate the market

On the basis of geography, the market is categorized as Japan, China, Australia, India, Philippines, and Rest if Asia Pacific. China is anticipated to dominate the market during the forecast period. The regional market growth is attributed to the rapid industrialization and investment in R&D. China has built an economic model to evaluate the demand for seaweed.

The model considers three angles, which consist of supply side, demand-side, and trade data of seaweed. It is the major manufacturer of carrageenan, thus the prominent exporter of carrageenan to Europe and North America. About 94% of the carrageenan produced for domestic use is consumed by the food industry, specifically for foods, such as meat, jelly, and soft sweets.

Segments

The Asia Pacific carrageenan market has been segmented on the basis of

Types

  • Kappa
  • Iota
  • Lambda

Applications

  • Food Industry
    • Dairy Products
    • Beverages
    • Others
  • Pharmaceutical Industry
  • Beauty & Personal Care Industry
  • Others

Geography

  • Japan
  • China
  • Australia
  • India
  • Philippines
  • Rest of Asia Pacific

Key Players

Competitive Landscape

Key players competing in the Asia Pacific carrageenan market include Cargill, Incorporated, MCPI Corporation, Accel Carrageenan Corporation, Marcel Carrageenan, and Caldic B.V.

Asia Pacific Carrageenan Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Carrageenan Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Carrageenan Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Carrageenan Market - Supply Chain
  4.5. Global Carrageenan Market Forecast
     4.5.1. Carrageenan Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Carrageenan Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Carrageenan Market Absolute $ Opportunity
5. Global Carrageenan Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Carrageenan Market Size and Volume Forecast by Types
     5.3.1. Kappa Iota Lambda
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Carrageenan Market Analysis and Forecast by Applications
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Applications
     6.2.2. Y-o-Y Growth Projections by Applications
  6.3. Carrageenan Market Size and Volume Forecast by Applications
     6.3.1. Food Industry Pharmaceutical Industry Beauty & Personal Care Industry Others
  6.4. Absolute $ Opportunity Assessment by Applications
  6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Carrageenan Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Carrageenan Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Carrageenan Demand Share Forecast, 2019-2026
8. North America Carrageenan Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Carrageenan Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Carrageenan Market Size and Volume Forecast by Types
     8.4.1. Kappa Iota Lambda
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. North America Carrageenan Market Size and Volume Forecast by Applications
     8.7.1. Food Industry Pharmaceutical Industry Beauty & Personal Care Industry Others
  8.8. Basis Point Share (BPS) Analysis by Applications
  8.9. Y-o-Y Growth Projections by Applications
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Carrageenan Demand Share Forecast, 2019-2026
9. Latin America Carrageenan Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Carrageenan Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Carrageenan Market Size and Volume Forecast by Types
     9.4.1. Kappa Iota Lambda
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Latin America Carrageenan Market Size and Volume Forecast by Applications
     9.7.1. Food Industry Pharmaceutical Industry Beauty & Personal Care Industry Others
  9.8. Basis Point Share (BPS) Analysis by Applications
  9.9. Y-o-Y Growth Projections by Applications
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Carrageenan Demand Share Forecast, 2019-2026
10. Europe Carrageenan Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Carrageenan Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Carrageenan Market Size and Volume Forecast by Types
     10.4.1. Kappa Iota Lambda
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Europe Carrageenan Market Size and Volume Forecast by Applications
     10.7.1. Food Industry Pharmaceutical Industry Beauty & Personal Care Industry Others
  10.8. Basis Point Share (BPS) Analysis by Applications
  10.9. Y-o-Y Growth Projections by Applications
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Carrageenan Demand Share Forecast, 2019-2026
11. Asia Pacific Carrageenan Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Carrageenan Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Carrageenan Market Size and Volume Forecast by Types
     11.4.1. Kappa Iota Lambda
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Asia Pacific Carrageenan Market Size and Volume Forecast by Applications
     11.7.1. Food Industry Pharmaceutical Industry Beauty & Personal Care Industry Others
  11.8. Basis Point Share (BPS) Analysis by Applications
  11.9. Y-o-Y Growth Projections by Applications
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Carrageenan Demand Share Forecast, 2019-2026
12. Middle East & Africa Carrageenan Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Carrageenan Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Carrageenan Market Size and Volume Forecast by Types
     12.4.1. Kappa Iota Lambda
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Middle East & Africa Carrageenan Market Size and Volume Forecast by Applications
     12.7.1. Food Industry Pharmaceutical Industry Beauty & Personal Care Industry Others
  12.8. Basis Point Share (BPS) Analysis by Applications
  12.9. Y-o-Y Growth Projections by Applications
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Carrageenan Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Carrageenan Market: Market Share Analysis
  13.2. Carrageenan Distributors and Customers
  13.3. Carrageenan Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Cargill, Incorporated MCPI Corporation Accel Carrageenan Corporation Marcel Carrageenan Caldic B.V.

Methodology

Our Clients

The John Holland Group
General Electric
FedEx Logistics
General Mills
Dassault Aviation
Honda Motor Co. Ltd.
Deloitte
sinopec