Global Carrageenan Gum Market is estimated to be valued at US$ 881.6 Million in 2021, according to the Global Carrageenan Gum Market Report, by Type (Kappa Carrageenan, Iota Carrageenan, Lambda Carrageenan), by Application (Food & Beverages (Dairy Products, Meat Products, Confectionery & Bakery, Beverages, Salads & dressings), Personal Care & Toiletries (Toothpaste, Air Fresheners, Cosmetics), Pharmaceuticals, Feed & Pet Food), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.
Global carrageenan gum market was valued at US$ 881.6 Million in 2021 and is expected to register a CAGR of 4.4% over the forecast period (2022–2030). The Europe region is expected to dominate market over the forecast period and is projected to be the largest and fastest-growing region.
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https://www.coherentmarketinsights.com/market-insight/carrageenan-gum-market-3443
Browse 50 market data tables* and 40 figures* on "Global Carrageenan Gum Market” - Forecast to 2030.
Key Trends and Analysis of the Global Carrageenan Gum Market:
- Growing focus of manufacturers to launch various blends of carrageenan gum in a variety of beverages with excellent consistent quality is expected to accelerate the market growth of carrageenan gum.
- In April 2019, Cargill, a food corporation based in Minnetonka, U.S. signed an agreement with Caldic, a full-service provider for the Food, Personal Care, Pharmaceutical and Industrial markets to expand its distribution range of carrageenan, Xanthum and Pectin in Nordics while helping caldic to expand its product portfolio in Nordics.
- In June 2021, CP Kelco, produces gellan gum, pectin, xanthan gum, carrageenan and other hydrocolloids for the food, beverage and consumer products industries announced the extension of its distribution chain with Azelis, a service provider in the specialty chemicals and food ingredients industry, in India, Malaysia, Indonesia, and Thailand. Azeli’s diverse product range and a proven growth track record make them a good distributor of choice for CP Kelco to expand its operations to other countries across the world. Through this partnership, Azelis will distribute the complete range of CP Kelco’s products.
Key Takeaways of the Global Carrageenan Gum Market:
- Among Application, food & beverages segment dominated the global carrageenan gum market in 2021. Food & beverages segment was followed by feed & pet food and personal care & toiletries in terms of revenue share, respectively.
- Among region, Europe dominated the global carrageenan gum market in 2021, reporting 35% market share in terms of revenue, followed by Asia Pacific and North America, respectively.
- New product launches, merger & acquisitions, strategic partnership expansion, and research & development activities are key strategies adopted by players in the global carrageenan gum market.
