Global Carrageenan Gum Market to Soar at Moderate CAGR of 4.3% during 2016-2024
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.
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.
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<strong>Carrageenan</strong> <strong>Gum</strong> <strong>Market</strong>: <strong>Global</strong> Industry Analysis and<br />
Opportunity Assessment, <strong>2016</strong>–<strong>2024</strong><br />
January 2017<br />
Report Id : REP-GB-2995<br />
St<strong>at</strong>us : Feb - 17<br />
C<strong>at</strong>egory : Food and Beverages<br />
©2015 Future <strong>Market</strong> Insights, All Rights Reserved
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<strong>Carrageenan</strong> <strong>Gum</strong> <strong>Market</strong><br />
<strong>Global</strong> <strong>Carrageenan</strong> <strong>Gum</strong> <strong>Market</strong> <strong>to</strong> <strong>Soar</strong> <strong>at</strong> Moder<strong>at</strong>e <strong>CAGR</strong> <strong>of</strong> <strong>4.3%</strong> <strong>during</strong> <strong>2016</strong>-<strong>2024</strong><br />
In spite <strong>of</strong> recording global sales <strong>of</strong> over 60,000 metric <strong>to</strong>nnes in <strong>2016</strong>, Future <strong>Market</strong> Insights predicts<br />
th<strong>at</strong> the global demand for carrageenan gum will witness a considerable decline. A l<strong>at</strong>est research report<br />
published by Future <strong>Market</strong> Insights projects th<strong>at</strong> by the end <strong>of</strong> <strong>2024</strong>, the global consumption <strong>of</strong><br />
carrageenan gum would have soared moder<strong>at</strong>ely <strong>at</strong> <strong>4.3%</strong> <strong>CAGR</strong> and surpassed 88,000 metric <strong>to</strong>nnes. The<br />
report further reveals the real reason behind sluggish sales <strong>of</strong> carrageenan gum in the world.<br />
According <strong>to</strong> the report, titled “<strong>Carrageenan</strong> <strong>Gum</strong> <strong>Market</strong>: <strong>Global</strong> Industry Analysis and Opportunity<br />
Assessment, <strong>2016</strong>-<strong>2024</strong>,” the common fallacy th<strong>at</strong> renders carrageenan gum as harmful ingredient has<br />
been instrumenting the deceler<strong>at</strong>ed growth in its global sales. Misconceptions arising from ambiguous<br />
st<strong>at</strong>us <strong>of</strong> carrageenan gum as a viable food ingredient has restrained the market from <strong>at</strong>taining a steady<br />
growth. The global carrageenan gum market, which is presently valued over US$ 700 million, is hence<br />
anticip<strong>at</strong>ed <strong>to</strong> register a 4% <strong>CAGR</strong> and bring in close <strong>to</strong> US$ 1 billion by the end <strong>of</strong> <strong>2024</strong>.<br />
Limited availability <strong>of</strong> raw carrageenan is also expected <strong>to</strong> keep curbing the production <strong>of</strong> carrageenan<br />
gum in the world. A majority <strong>of</strong> carrageenan gum produced across the globe gets consumed by food and<br />
beverage manufacturers.<br />
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<strong>Carrageenan</strong> <strong>Gum</strong> <strong>Market</strong><br />
The report reveals how more than half <strong>of</strong> global carrageenan gum revenues are accounted by food &<br />
beverage industries. Presence <strong>of</strong> carrageenan gum is also gaining traction in production <strong>of</strong> personal care<br />
products & <strong>to</strong>iletries. In <strong>2016</strong>, nearly ten thousand metric <strong>to</strong>nnes <strong>of</strong> carrageenan gum were consumed by<br />
this segment. Meanwhile, pharmaceutical manufacturers are expected <strong>to</strong> lower their particip<strong>at</strong>ion in the<br />
global consumption <strong>of</strong> carrageenan gum, owing <strong>to</strong> the ingredient’s specul<strong>at</strong>ive st<strong>at</strong>us and prolonging FDA<br />
approvals. <strong>Carrageenan</strong> gum will also be used in production <strong>of</strong> animal feed and pet food products,<br />
revenues from which are projected <strong>to</strong> surpass US$ 200 million by the end <strong>of</strong> <strong>2024</strong>.<br />
A regional analysis <strong>of</strong> global carrageenan gum market projected higher demand for carrageenan gum in<br />
Europe. Apropos the report, Europe will contribute <strong>to</strong> more than 35% <strong>of</strong> global carrageenan gum<br />
revenues throughout the forecast period. Revenues eman<strong>at</strong>ing from Europe are also expected <strong>to</strong> rise <strong>at</strong><br />
4.4% <strong>CAGR</strong>, while the region’s carrageenan gum consumption will register growth <strong>at</strong> 4.8% <strong>CAGR</strong>.<br />
Meanwhile, North America and Asia-Pacific will collectively account for almost 50% <strong>of</strong> global carrageenan<br />
gum revenues through <strong>2024</strong>. L<strong>at</strong>in America’s carrageenan gum market, on the other hand, will bring in<br />
nearly US$ 120 million in revenues. Middle East & Africa’s carrageenan gum revenues, however, will be<br />
registering the slowest <strong>CAGR</strong> over the forecast period.<br />
A majority <strong>of</strong> carrageenan gum manufacturers in the world are based in the US. Companies such as CP<br />
Kelco ApS, FMC Corpor<strong>at</strong>ion, E. I. DuPont de Nemours and Co., Ingredient Solution Inc., and Cargill,<br />
Incorpor<strong>at</strong>ed are prominent players in the global carrageenan gum market. The market is also witnessing<br />
higher particip<strong>at</strong>ion from companies namely, Compañía Española de Algas Marinas S.A. (CEAMSA), W.<br />
Hydrocolloids Inc., Altrafine <strong>Gum</strong>, Kerry Group, Extrac<strong>to</strong>s N<strong>at</strong>urales Gelymar S. A., and Marcel Trading<br />
Corpor<strong>at</strong>ion.<br />
©2015 Future <strong>Market</strong> Insights, All Rights Reserved 5
Table <strong>of</strong> Content<br />
1. Executive Summary<br />
2. <strong>Market</strong> Introduction<br />
2.1. <strong>Market</strong> Definition<br />
2.2. <strong>Market</strong> Taxonomy<br />
3. <strong>Global</strong> <strong>Carrageenan</strong> <strong>Gum</strong> <strong>Market</strong> Analysis Scenario<br />
3.1. <strong>Market</strong> Size and Forecast<br />
3.1.1. <strong>Market</strong> Size and Y-o-Y Growth<br />
3.1.2. Absolute $ Opportunity<br />
3.2. Industry Value and Supply Chain Analysis<br />
3.2.1. Value Chain<br />
3.2.2. Gross Pr<strong>of</strong>itability Margins<br />
3.2.3. List and Role <strong>of</strong> Key Participants<br />
3.2.3.1. Raw M<strong>at</strong>erial Suppliers<br />
3.2.3.2. Manufacturers<br />
3.2.3.3. Distribu<strong>to</strong>rs/Retailers<br />
3.2.3.4. End users<br />
©2015 Future <strong>Market</strong> Insights, All Rights Reserved<br />
6
Table <strong>of</strong> Content<br />
3.3. Loc<strong>at</strong>ion Analysis<br />
3.3.1. Top Producing Countries<br />
3.3.2. Top Consuming Countries<br />
4. <strong>Market</strong> Dynamics<br />
4.1. Drivers<br />
4.2. Restraints<br />
4.3. Opportunity<br />
4.4. Trends<br />
4.5. Overview on Functional Properties<br />
4.6. Product Overview by Grades<br />
4.6.1. Iota<br />
4.6.2. Kappa<br />
4.6.3. Lambda<br />
4.7. Forecast Fac<strong>to</strong>rs – Relevance and Impact<br />
©2015 Future <strong>Market</strong> Insights, All Rights Reserved<br />
7
Table <strong>of</strong> Content<br />
5. <strong>Global</strong> <strong>Carrageenan</strong> <strong>Gum</strong> <strong>Market</strong> Analysis and Forecast, By Applic<strong>at</strong>ion<br />
5.1. Introduction<br />
5.1.1. Basis Point Share (BPS) Analysis By Applic<strong>at</strong>ion<br />
5.1.2. Y-o-Y Growth Projections By Applic<strong>at</strong>ion<br />
5.2. <strong>Market</strong> Size and Forecast By Applic<strong>at</strong>ion<br />
5.2.1. Food and Beverages<br />
5.2.1.1. Dairy Products<br />
5.2.1.2. Me<strong>at</strong> Products<br />
5.2.1.3. Confectionery and Bakery<br />
5.2.1.4. Beverages<br />
5.2.1.5. Salads & Dressings<br />
5.2.2. Personal Care & Toiletries<br />
5.2.2.1. Toothpaste<br />
5.2.2.2. Air Fresheners<br />
5.2.2.3. Cosmetics<br />
5.2.3. Feed and Pet Food<br />
5.2.4. Pharmaceuticals<br />
©2015 Future <strong>Market</strong> Insights, All Rights Reserved<br />
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Table <strong>of</strong> Content<br />
6. <strong>Global</strong> <strong>Carrageenan</strong> <strong>Gum</strong> <strong>Market</strong> Analysis and Forecast, By Region<br />
6.1. Introduction<br />
6.1.1. Basis Point Share (BPS) Analysis By Region<br />
6.1.2. Y-o-Y Growth Projections By Region<br />
6.2. <strong>Market</strong> Size and Forecast By Region<br />
6.2.1. North America<br />
6.2.2. Europe<br />
6.2.3. APAC<br />
6.2.4. L<strong>at</strong>in America<br />
6.2.5. Middle East and Africa<br />
6.3. <strong>Market</strong> Attractiveness Analysis By Region<br />
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