During the projected period, the Carrageenan Gum market is expected to grow at a CAGR of 4.0 %. The market value is projected to increase from USD 915.9 Million in 2022 to USD 1,355.7 Million by 2032.
| Attribute | Details |
|---|---|
| Market Size Value in 2022 | USD 915.9 Million |
| Market Forecast Value in 2032 | USD 1,355.7 Million |
| Global Growth Rate (2022 to 2032) | 4.0% |
| Forecast Period | 2022 to 2032 |
The European and American carrageenan-gum markets are among the world's greatest.
One industry in America is expected to see a CAGR of 3.90 %through 2031, and the European carrageenan gum market is expected to increase at a steady rate, with a CAGR of 4.4%.
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Carrageenan gum's market worth grew by 3.3% per year between 2016 and 2020. Speculative predictions of slurring the market for carrageenan gum in light of the unanticipated effects of COVID-19 led to a decline in buying in 2020.
Inspired by recently resumed operations for a speedy recovery, automobile manufacturers are resuming the production operations of vaccine components. Thanks to improved extraction and manufacturing techniques and improvements to supply systems, the carrageenan industry experienced y-o-y growth of 4.10% between 2020 and 2021.
The positive market demand outlook for carrageenan gum boosted its commercial applications with biocompatibility and non-toxicity, contributing to the gum's moderate CAGR of 4% through 2032.
Carrageenan is a plant-based gelatin-like substance that is commonly used in skincare products in recent years. Carrageenan's natural capacity for water-binding makes it an effective emulsifier and results in a smooth and creamy texture.
Carrageenan gum has been popular among food and drink companies due to its emulsifying properties. Its emulsifying properties have led to its use in skincare, especially in moisturizers and lotions. Carrageenan gum makes skincare products creamy, luxurious, and smooth, making them easy to apply on the face and body.
The vicious and emulsifying properties of carrageenan gum provide it with additional uses, such as toothpaste, shampoos, conditioners, hair masks, and gels. Carrageenan gum prevents oil-based and water-based active ingredients from separating, so skincare products can moisturize the skin.
A growing need to buy plant-based ingredients as an additive to skincare and hair care products also has led to the demand for carrageenans in the latter half of 2032.
Carrageenan gum has been shown to possess diverse pharmacological properties, which have been attracting substantial attention from the pharmaceutical market. The role of carrageenan gum-derived biomaterials in the field of medicine is increasing as tissue engineering procedures demand advanced developmental testing methods.
Carrageenan gum on its own quickly appears as a strong mass when combined with calcium salts, which makes them soluble in water and maintains the elasticity of the product. This is tapped by pharmaceutical companies as an alternative for parasympathetic nerve inhibitors, mainly in nasal sprays.
In addition to derivatives from carrageenan gum, carrageenan-based nanomaterials are utilized to deliver therapeutic agents such as small molecule drugs, genetic materials, and peptides. Carrageenan gum is also utilized as a nanoformulation for targeting and medicalizing therapeutic agents to local tissue.
Carrageenan, being a thermally responsive material, is extremely low-cost and easy to process. Such properties are also seen in their role in the restoration of vision and the treatment of skeletal and connective tissue injuries, which increase the likelihood of carrageenan gum's success in the near future.
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Kappa carrageenan gum is known to be food-grade and provides a wide range of applications in the food sector and others applications. The κ variant of carrageenan gum includes 25-30% of ester sulfate, which can interact with locust bean clusters to result in a bitter jelly used as a stabilizer in dairy products.
Other by-products made from the carrageenan gum tree can be utilized to clarify beer, refine wine, and thicken food products. In sauces, dressings, sour cream, ice cream, and other frozen desserts, carrageenan gum helps stabilize the food and gives it an appealing consistency.
Carrageenan is a popular alternative to gelatin in vegan food products. Dental products and confectionaries, such as chewing gum, are also booming in the food-producing industry, as carrageenan is used in the production of fondants, gummy sweets, and sweetener syrups.
Globalization is resulting in rising demand for packaged goods, an effect that is also being felt in the meat and poultry sectors. Carrageenan gum is added to the food to improve texture and viscosity and to extend shelf life. The growing demand for these processed and packaged products in the food system is anticipated to boost demand for carrageenan gum over time.
Carrageenan gum is often found in dog food and animal feed for its thickening and stabilizing properties. Though it is also derived from a nonsynthetic source, consumers have been accusing pet food manufacturers of causing undesirable health effects in pets due to carrageenan gum.
Carrageenan gum's chemical structure induces a systemic allergy response, resulting in gastrointestinal inflammation, ulcers, intestinal lesions, or malignant tumors in animals.
If vinegar, which is made of carrageenan, is exposed to hydrochloric acid rather than, in general, alkaline, degraded carrageenan is created, which is not allowed in human food. Scientists in many parts of the world have indicated that carrageenan, which is contaminated with gastrointestinal symptoms, will break down when it enters the stomach, which makes its removal necessary.
Due to its safety for humans, carrageenan gum is safe for animal consumption. Food consumed by pets daily, however, will accumulate downstream harmful side effects from degraded carrageenan. As a result, the market for food and animal feed with carrageenan gum may be limited.
FMI projections for a rapid expansion of the carrageenan gum market at a 3.90% CAGR in North America are encouraging, with the USA showing stable upward growth patterns in this particular industry. The growth in the carrageenan gum market in the USA is attributable to rising demand from the personal care and pharmaceutical industries.
A number of transnational cosmetics makers are based in the USA Since skin care products are currently targeting customers who prefer to make use of plant-based ingredients, the business of carrageenan gum is anticipated to grow.
Aside from the food industry, expansion in the personal care market will also provide players in the carrageenan gum market with growth opportunities. The disappearance of global companies such as Nestlé and PepsiCo in the food and confectionery industry will lead to high growth in the necessities for carrageenan gum.
Demand for carrageenan gum in the United Kingdom is anticipated to increase due to discussed in the below sections. The forecasted growth rate for the market is 4.40 %.
Currently, consumers are generally opting to eat foods that incorporate natural ingredients, and they are shunning products that contain preservatives and chemical additives. This has compelled macromolecule manufacturers to produce novel additive options, which has resulted in the growth of the carrageenan gum market.
An emergent increase in vegan demand for carrageenan gum is anticipated to boost carrageenan gum sales in the USA in the coming years.
China has a substantial seafood and meat consumption base that calls for continuous refinements and development in food quality. This has resulted in not only strong profits in the businesses that produce walking shoes and food but also large sales of canned and de-boned meat and processed foods.
the development of new possibilities for automakers outside of the glycerin carrageenan market offers creative opportunities for international players.
The crucial dairy industry will keep the increase in demand for yogurt, sour cream, and milk products solid as it is in China. For the carrageenan gum industry, this will strengthen sales and market penetration.
As per FMI market research, the carrageenan market is predicted to have a high demand for food and beverage substrates during the forecast period. Extensive use in dairy products such as ice cream, yogurt, cheese, and flavored milk will result in an upsurge in the sales of carrageenan.
Carrageenan gum, which is frequently used as a gelling agent in baked goods and confectionary items, will continue to increase in production, eventually providing many opportunities for commerce entities to create their own products. It will also provide an essential processing component to processed meat products over time, thus increasing the potential for manufacturing and commerce companies to join in on the opportunity.
FMI data indicates top 5 players in the market are E. I. du Pont de Nemours and Co., CP Kelco Aps, FMC Corporation, Kerry Group, and Cargill, Incorporated; for around 20 to 40 percent of the total market share.
The leading players operating in the carrageenan-gum market are focusing on acquisitions, mergers, and strategic collaborations to strengthen their footprints in the market. Product innovations, research and development, and production facility expansion will remain the growth strategies of market players throughout the forecast period.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | USD Million for Value and Units for Volume |
| Key Regions Covered | North America; Latin America; Europe; Asia Pacific; Oceania; Middle East and Africa |
| Key Countries Covered | USA, Canada, Mexico, Germany, United Kingdom, France, Italy, Spain, China, Japan, India, South Korea, Australia, Brazil, Argentina, South Africa, United Arab Emirates(UAE) |
| Key Segments Covered | Application, Region |
| Key Companies Profiled | CP Kelco ApS; Marcel Carrageenan Corporation; FMC Corporation; E. I. du Pont de Nemours and Co.; Extractos Naturales Gelymar S. A.; Ingredients Solutions, Inc.; Kerry Group; Cargill, Incorporated; Altrafine Gums; W Hydrocolloids, Inc.; LEM Products |
| Report Coverage | Market Forecast, Company Share Analysis, Competitive Landscape, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The Carrageenan Gum Market size is assessed to be USD 915.9 Million currently.
The Carrageenan Gum Market is expected to rise at a CAGR of 4.0%.
The North American Carrageenan Gum market is expected to register a 4.3% CAGR between 2022 and 2032.
The USA, China, Canada, Germany, and Mexico are the major countries driving demand for Carrageenan Gum Market.
China's Carrageenan Gum market is projected to grow at a CAGR of around 4.7% over the next ten years.
Japan's Carrageenan Gum market is projected to grow at a CAGR of around 4.3% over the next ten years.
The demand for the Carrageenan Gum market in Europe is expected to grow at 9.5% CAGR between 2022 and 2032.
E. I. du Pont de Nemours and Co., CP Kelco ApS, FMC Corporation, Kerry Group, and Cargill Incorporated are expected to be the top players driving the market growth.
Mexico's Carrageenan Gum market is projected to grow at a CAGR of around 4.1% over the next ten years.
The global Carrageenan Gum market is forecasted to surpass USD 1,355.75 Million by the end of 2032.
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