Carrageenan Market Size

Carrageenan Market Analysis

The carrageenan market is projected to register a CAGR of 6.50% over the next five years.

The main thing driving the demand for carrageenan around the world is the growing popularity of processed foods.The major driver of the carrageenan market is the rising demand for processed foods. Carrageenan is an essential ingredient in many foods and beverages consumed every day, including nut and soy milk, deli meats, protein shakes and powders, chocolate milk, yogurt, popsicles, prepared meals such as frozen burritos and pizza, ice cream, and infant formula. On the other hand, carrageenan is a well-known additive in the pharmaceutical, cosmetic, and home care industries, where it can be used as a thickener or film-forming agent.

Various studies have depicted that about 80 percent of the total seaweed production is for direct human consumption, eaten fresh or dried. Seaweed is known for its nutritional value or flavoring and is used in sushi, soups, salads, desserts, and condiments. It acts as a stabilizer, thickener, texturizing, and gelling agent. Kappa is the most used carrageenan in food, where it acts as a stabilizer, bodying agent, and emulsifier in cheese, ice cream, chocolate, and puddings. Iota is used for ready-to-eat meals, whereas lambda is mostly used for whipped cream. Other innovative uses, like a gelling agent in air fresheners, are opening up the lucrative potential for market expansion. In addition, a number of multinational corporations (MNCs) are forming strategic alliances with small businesses in order to launch cutting-edge products and increase their market share. It is anticipated that this will further fuel market expansion.