Carrageenan Market Size is projected to reach USD 1.35 Billion by 2030, growing at a CAGR of 5.8%: Straits Research

The global carrageenan market size was valued at USD 817.31 million in 2021 and is projected to reach USD 1357.55 million by 2030 at a CAGR of 5.8% from 2022 to 2030. Europe leads the carrageenan market.

New York, United States, Oct. 18, 2022 (GLOBE NEWSWIRE) -- Carrageenan is a gel-forming and viscosifying polysaccharide that is obtained from a species of red seaweed. Commercially, carrageenan is available in three different grade, Kappa, Iota, and lambda. The growing demand for natural food additives, gelling, and emulsifying agents across the food and beverage industry is anticipated to be the key factor driving the market growth. In addition, the growing use of products as an excipient in the pharmaceutical industry and in the formulations of cosmetics products accelerates the market growth.

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COVID-19 Impact Analysis

The COVID-19 outbreak that started in China last year has a severe impact on the food and beverage industry. This is due to the lockdown measure taken by the government in efforts to bring the pandemic to halt that has not only disrupted the supply chain of the raw materials but has also led to the downfall in the production capacities. In addition, the sharp decline from the demand side in the supply-demand chain has further worsened then conditions of the players that are engaged in the food & beverage business.

Across the distribution channels in the food & beverages industry, the out-of-home business has been severely impacted amid the lockdown, whose sales have taken a dive as most of the cafes, restaurants, bars, and the hotel has been shut down. Whereas, the at-home sales channels have witnessed a spike in sales. As the consumers are now stocking up goods for isolation and quarantine. It is expected that the post-COVID scenario will witness a major change in the consumer sentiments, which, now will be more inclined towards at-home consumption. Which in turn, will change the outlook of the food & beverages in the upcoming years.

Report Scope

Report Metric Details
Market Size USD 1357.55 million by 2030
CAGR 5.8% (2022-2030)
Historical Data 2019-2020
Base Year 2021
Forecast Period 2022-2030
Forecast Units Value (USD Million)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, Application, Regions
Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors MCPI Corporation, Marcel Carrageenan, ACCEL Carrageenan Corporation, TBK Manufacturing Corporation, Cargill Inc., Caldic B.V., Ina Food Industry Co Ltd., DanLink Ingredients Ltd., AEP Colloids Inc., Shemberg Marketing Corp, Ingredients Solutions Inc., Gelymar SA, Soriano SA, Scalzo Food Industries, PT Fortuna CahayaCemerlang
Key Market Opportunities The demand for carrageenan is rising significantly on account of the shifting preference towards processed foods.
Key Market Drivers Rising Number of Health-Conscious Consumers to Drive the Demand

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Regional Analysis

According to Eurostat, the amount of raw milk produced by farms in the European Union in 2018 was 172.2 million tonnes, an increase of 1.6 million tonnes over the preceding year. The manufacture of cheese uses most of the milk, which further increases the demand for carrageenan in the local market. Additionally, the western region of Europe is where you may find the seaweeds that are utilised to make carrageenan. As a result, the regional market expansion is aided by the availability of plentiful raw materials for the production of carrageenan.

Key Highlights

  • The global carrageenan market size is projected to reach USD 1357.55 million by 2030 at a CAGR of 5.8% from 2022 to 2030.
  • Both in terms of usage and market value, the food and beverage sector commands the carrageenan industry.
  • The growth of the carrageenan market has been considerably aided by the pharmaceutical industry.
  • Due to its well-established food and beverage industry, which is also one of the major drivers of the region's economy, Europe leads the carrageenan market.

Key Players

  • MCPI Corporation
  • Marcel Carrageenan
  • ACCEL Carrageenan Corporation
  • TBK Manufacturing Corporation
  • Cargill Inc.
  • Caldic B.V.
  • Ina Food Industry Co Ltd.
  • DanLink Ingredients Ltd.
  • AEP Colloids Inc.
  • Shemberg Marketing Corp
  • Ingredients Solutions Inc.
  • Gelymar SA
  • Soriano SA
  • Scalzo Food Industries
  • PT Fortuna CahayaCemerlang

Carrageenan Market: Segmentation

By Type

  • Kappa
  • Iota
  • Lambda

By Application

  • Food and Beverage
  • Cosmetic Industry
  • Pharmaceutical

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Central and South America and the Caribbean
  • The Middle East
  • Africa


1          Introduction

1.1       Market Definition

1.2       Market Scope

2          Research Methodology

2.1       Primary Research

2.2       Research Methodology

2.3       Assumptions & Exclusions

2.4       Secondary Data Sources

3          Executive Summary

4          Market Overview

4.1       Report Segmentation & Scope

4.2       Value Chain Analysis: Carrageenan Market

4.2.1   Vendor Matrix

4.3       Key Market Trends

4.3.1   Drivers

4.3.2   Restraints

4.3.3   Opportunities

4.4       Porter’s Five Forces Analysis

4.4.1   Bargaining Power of Suppliers

4.4.2   Bargaining Power of Buyers

4.4.3   Threat of Substitution

4.4.4   Threat of New Entrants

4.4.5   Competitive Rivalry

4.5       Environmental & Regulatory Landscape

4.6       Forecast Factors & Relevance of Impact

4.7       Macro-Economic & Geopolitical Scenario

4.8       Parent Market Overview

4.9       Technology Landscape

4.10    Market Share Analysis

4.11    Potential Venture Analysis

4.12    Regional Price Trends

4.13    Raw Material Trends

4.14    Cost Structure Analysis

4.14.1 Labor Cost

4.14.2 Consumables

4.14.3 Maintenance Cost

4.15    COVID-19 Impact Analysis:

4.15.1 Pre and Post COVID-19 Market Scenario Analysis

4.15.2 Market Recovery Timeline and Challenge

4.15.3 Measures Taken by Top Players

4.15.4 Quarterly Market Revenue and Growth Forecast till 2030          North America          Europe          Asia-Pacific          Central and South America and the Caribbean          The Middle East and Africa

5          Type Overview

5.1       Introduction

5.1.1   Market Size & Forecast (Value)

5.2       Kappa

5.2.1   Market Size & Forecast (Value)

5.3       Iota

5.3.1   Market Size & Forecast (Value)

5.4       Lambda

5.4.1   Market Size & Forecast (Value)

6          Application Overview

6.1       Introduction

6.1.1   Market Size & Forecast (Value)

6.2       Food & Beverage

6.2.1   Market Size & Forecast (Value)

6.3       Cosmetic

6.3.1   Market Size & Forecast (Value)

6.4       Phamaceutical

6.4.1   Market Size & Forecast (Value)

6.5       Others

6.5.1   Market Size & Forecast (Value)

7          Regional Overview

7.1      Introduction

7.1.1   Market Size & Forecast (Value)

7.2      North America

7.2.1   Economic Overview

7.2.2   Market Scenario

7.2.3   The U.S.            By Type            By Application

7.2.4   Canada            By Type            By Application

7.2.5   Mexico            By Type            By Application

7.3      Central and South America and the Caribbean

7.3.1   Economic Overview

7.3.2   Market Scenario

7.3.3   Brazil            By Type            By Application

7.3.4   Argentina            By Type            By Application

7.3.5   Colombia            By Type            By Application

7.3.6   The Rest of Central and South America and the Caribbean            By Type            By Application

7.4      Europe

7.4.1   Economic Overview

7.4.2   Market Scenario

7.4.3   Germany            By Type            By Application

7.4.4   France            By Type            By Application

7.4.5   The U.K.            By Type            By Application

7.4.6   Italy            By Type            By Application

7.4.7   The Rest of Europe            By Type            By Application

7.5      Asia-Pacific (APAC)

7.5.1   Economic Overview

7.5.2   Market Scenario

7.5.3   China            By Type            By Application

7.5.4   Japan            By Type            By Application

7.5.5   India            By Type            By Application

7.5.6   Australia            By Type            By Application

7.5.7   South Korea            By Type            By Application

7.5.8   The Rest of APAC            By Type            By Application

7.6      The Middle East

7.6.1   Economic Overview

7.6.2   Market Scenario

7.6.3   Saudi Arabia            By Type            By Application

7.6.4   The UAE            By Type            By Application

7.6.5   Qatar            By Type            By Application

7.6.6   Oman            By Type            By Application

7.6.7   Turkey            By Type            By Application

7.6.8   The Rest of MEA            By Type            By Application

7.7      Africa

7.7.1   Nigeria            By Type            By Application

7.7.2   South Africa            By Type            By Application

7.7.3   The Rest of Africa            By Type            By Application

8          Competitive Landscape — Manufacturers & Suppliers

8.1      Competition Dashboard

8.2      Industry Structure

8.3      MCPI Corporation

8.3.1   Business Overview

8.3.2   Financial Performance

8.3.3   Recent Developments

8.3.4   Product Portfolio

8.4      Marcel Carrageenan

8.4.1   Business Overview

8.4.2   Financial Performance

8.4.3   Recent Developments

8.4.4   Product Portfolio

8.5      ACCEL Carrageenan Corporation

8.5.1   Business Overview

8.5.2   Financial Performance

8.5.3   Recent Developments

8.5.4   Product Portfolio

8.6      TBK Manufacturing Corporation

8.6.1   Business Overview

8.6.2   Financial Performance

8.6.3   Recent Developments

8.6.4   Product Portfolio

8.7      Cargill Inc.

8.7.1   Business Overview

8.7.2   Financial Performance

8.7.3   Recent Developments

8.7.4   Product Portfolio

8.8      Caldic B.V.

8.8.1   Business Overview

8.8.2   Financial Performance

8.8.3   Recent Developments

8.8.4   Product Portfolio

8.9      Ina Food Industry Co Ltd.

8.9.1   Business Overview

8.9.2   Financial Performance

8.9.3   Recent Developments

8.9.4   Product Portfolio

8.10    Danlink Ingredients Ltd.

8.10.1 Business Overview

8.10.2 Financial Performance

8.10.3 Recent Developments

8.10.4 Product Portfolio

8.11    AEP Colloids Inc.

8.11.1 Business Overview

8.11.2 Financial Performance

8.11.3 Recent Developments

8.11.4 Product Portfolio

8.12    Shemberg Marketing Corp

8.12.1 Business Overview

8.12.2 Financial Performance

8.12.3 Recent Developments

8.12.4 Product Portfolio

8.13    Ingredients Solutions Inc.

8.13.1 Business Overview

8.13.2 Financial Performance

8.13.3 Recent Developments

8.13.4 Product Portfolio

8.14    Gelymar SA

8.14.1 Business Overview

8.14.2 Financial Performance

8.14.3 Recent Developments

8.14.4 Product Portfolio

8.15    Soriano SA

8.15.1 Business Overview

8.15.2 Financial Performance

8.15.3 Recent Developments

8.15.4 Product Portfolio

8.16    Scalzo Food Industries

8.16.1 Business Overview

8.16.2 Financial Performance

8.16.3 Recent Developments

8.16.4 Product Portfolio

8.17    PT Fortuna CahayaCemerlang

8.17.1 Business Overview

8.17.2 Financial Performance

8.17.3 Recent Developments

8.17.4 Product Portfolio

9          Conclusion & Recommendation

10        Acronyms & Abbreviations

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News Media

Carrageenan is Obtained from Which Algae?

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