SAN FRANCISCO, Dec. 14, 2020
SAN FRANCISCO, Dec. 14, 2020 /PRNewswire/ -- The global carrageenan market size is expected to reach USD 1.17 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.9% from 2020 to 2027. Carrageenan creates a fatty mouthfeel in food products, thus finds application in the production of vegetable-based dairy alternatives, low-fat cottage cheese, and low-fat cream, among others. The growth of the food and beverage sector, in line with the increasing population and changing consumer eating habits, is expected to fuel industry growth.
Key suggestions from the report:
Read 173 page research report with ToC on "Carrageenan Market Size, Share & Trends Analysis Report By Product (Kappa, Iota, Lambda), By Function (Thickener, Gelling Agent, Stabilizer), By Application, By Region, And Segment Forecasts, 2020 - 2027'' at: https://www.grandviewresearch.com/industry-analysis/carrageenan-market
Rising product penetration in pharmaceuticals, oil drilling, nutraceuticals, textile printing, cosmetics, and paper treatment industry is expected to boost the market growth. In the pharmaceutical industry, the product acts as a vegan thickening agent and an inactive excipient for tablet manufacturing. In industrial application, this gelling agent finds application in paper and fabric marbling.
Europe and North America emerged as the major markets for Carrageenan, together accounting for over 50.0% share of the global revenue in 2019. The embracing of healthier lifestyles by a large portion of the population and growing preference for healthy foods are likely to contribute to market growth. Growing demand for plant-based food ingredients in these markets is expected to support market growth.
Cargill, Incorporated; DuPont de Nemours, Inc.; Ceasma; Lauta Ltd.; Ingredion Incorporated; and CP Kelco U.S., Inc. are some of the major players engaged in manufacturing carrageenan in the market. Stringent quality criteria complying with international quality standards and regulations that govern the food stabilizer products are a few bottlenecks, which are likely to inhibit the growth of the market.
Grand View Research has segmented the global carrageenan market on the basis of product, function, application, and region:
List of Key Players of Carrageenan Market
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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