Global Carrageenan Gum Market to Soar at Moderate CAGR of 4.3% during 2016-2024

monica2016

According to the report, titled “Carrageenan Gum Market: Global Industry Analysis and Opportunity Assessment, 2016-2024,” the common fallacy that renders carrageenan gum as harmful ingredient has been instrumenting the decelerated growth in its global sales. Misconceptions arising from ambiguous status of carrageenan gum as a viable food ingredient has restrained the market from attaining a steady growth. The global carrageenan gum market, which is presently valued over US$ 700 million, is hence anticipated to register a 4% CAGR and bring in close to US$ 1 billion by the end of 2024.

Carrageenan Gum Market: Global Industry Analysis and

Opportunity Assessment, 20162024

January 2017

Report Id : REP-GB-2995

Status : Feb - 17

Category : Food and Beverages

©2015 Future Market Insights, All Rights Reserved


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Carrageenan Gum Market

Global Carrageenan Gum Market to Soar at Moderate CAGR of 4.3% during 2016-2024

In spite of recording global sales of over 60,000 metric tonnes in 2016, Future Market Insights predicts

that the global demand for carrageenan gum will witness a considerable decline. A latest research report

published by Future Market Insights projects that by the end of 2024, the global consumption of

carrageenan gum would have soared moderately at 4.3% CAGR and surpassed 88,000 metric tonnes. The

report further reveals the real reason behind sluggish sales of carrageenan gum in the world.

According to the report, titled “Carrageenan Gum Market: Global Industry Analysis and Opportunity

Assessment, 2016-2024,” the common fallacy that renders carrageenan gum as harmful ingredient has

been instrumenting the decelerated growth in its global sales. Misconceptions arising from ambiguous

status of carrageenan gum as a viable food ingredient has restrained the market from attaining a steady

growth. The global carrageenan gum market, which is presently valued over US$ 700 million, is hence

anticipated to register a 4% CAGR and bring in close to US$ 1 billion by the end of 2024.

Limited availability of raw carrageenan is also expected to keep curbing the production of carrageenan

gum in the world. A majority of carrageenan gum produced across the globe gets consumed by food and

beverage manufacturers.

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Carrageenan Gum Market

The report reveals how more than half of global carrageenan gum revenues are accounted by food &

beverage industries. Presence of carrageenan gum is also gaining traction in production of personal care

products & toiletries. In 2016, nearly ten thousand metric tonnes of carrageenan gum were consumed by

this segment. Meanwhile, pharmaceutical manufacturers are expected to lower their participation in the

global consumption of carrageenan gum, owing to the ingredient’s speculative status and prolonging FDA

approvals. Carrageenan gum will also be used in production of animal feed and pet food products,

revenues from which are projected to surpass US$ 200 million by the end of 2024.

A regional analysis of global carrageenan gum market projected higher demand for carrageenan gum in

Europe. Apropos the report, Europe will contribute to more than 35% of global carrageenan gum

revenues throughout the forecast period. Revenues emanating from Europe are also expected to rise at

4.4% CAGR, while the region’s carrageenan gum consumption will register growth at 4.8% CAGR.

Meanwhile, North America and Asia-Pacific will collectively account for almost 50% of global carrageenan

gum revenues through 2024. Latin America’s carrageenan gum market, on the other hand, will bring in

nearly US$ 120 million in revenues. Middle East & Africa’s carrageenan gum revenues, however, will be

registering the slowest CAGR over the forecast period.

A majority of carrageenan gum manufacturers in the world are based in the US. Companies such as CP

Kelco ApS, FMC Corporation, E. I. DuPont de Nemours and Co., Ingredient Solution Inc., and Cargill,

Incorporated are prominent players in the global carrageenan gum market. The market is also witnessing

higher participation from companies namely, Compañía Española de Algas Marinas S.A. (CEAMSA), W.

Hydrocolloids Inc., Altrafine Gum, Kerry Group, Extractos Naturales Gelymar S. A., and Marcel Trading

Corporation.

©2015 Future Market Insights, All Rights Reserved 5


Table of Content

1. Executive Summary

2. Market Introduction

2.1. Market Definition

2.2. Market Taxonomy

3. Global Carrageenan Gum Market Analysis Scenario

3.1. Market Size and Forecast

3.1.1. Market Size and Y-o-Y Growth

3.1.2. Absolute $ Opportunity

3.2. Industry Value and Supply Chain Analysis

3.2.1. Value Chain

3.2.2. Gross Profitability Margins

3.2.3. List and Role of Key Participants

3.2.3.1. Raw Material Suppliers

3.2.3.2. Manufacturers

3.2.3.3. Distributors/Retailers

3.2.3.4. End users

©2015 Future Market Insights, All Rights Reserved

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Table of Content

3.3. Location Analysis

3.3.1. Top Producing Countries

3.3.2. Top Consuming Countries

4. Market Dynamics

4.1. Drivers

4.2. Restraints

4.3. Opportunity

4.4. Trends

4.5. Overview on Functional Properties

4.6. Product Overview by Grades

4.6.1. Iota

4.6.2. Kappa

4.6.3. Lambda

4.7. Forecast Factors – Relevance and Impact

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Table of Content

5. Global Carrageenan Gum Market Analysis and Forecast, By Application

5.1. Introduction

5.1.1. Basis Point Share (BPS) Analysis By Application

5.1.2. Y-o-Y Growth Projections By Application

5.2. Market Size and Forecast By Application

5.2.1. Food and Beverages

5.2.1.1. Dairy Products

5.2.1.2. Meat Products

5.2.1.3. Confectionery and Bakery

5.2.1.4. Beverages

5.2.1.5. Salads & Dressings

5.2.2. Personal Care & Toiletries

5.2.2.1. Toothpaste

5.2.2.2. Air Fresheners

5.2.2.3. Cosmetics

5.2.3. Feed and Pet Food

5.2.4. Pharmaceuticals

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Table of Content

6. Global Carrageenan Gum Market Analysis and Forecast, By Region

6.1. Introduction

6.1.1. Basis Point Share (BPS) Analysis By Region

6.1.2. Y-o-Y Growth Projections By Region

6.2. Market Size and Forecast By Region

6.2.1. North America

6.2.2. Europe

6.2.3. APAC

6.2.4. Latin America

6.2.5. Middle East and Africa

6.3. Market Attractiveness Analysis By Region

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