Global Semi-Refined Carrageenan Market Size (2023 – 2030)

The global Semi Refined Carrageenan Market size is estimated to grow from USD 900 million in 2022 to USD 1385.41 million by 2030. This market is witnessing a healthy CAGR of 5.54 % from 2023 - 2030. The high demand for Hydrocolloids as a Food Additive in the food industry is the major factor that is driving the growth of the industry.

Industry Overview:

Carrageenan is a fundamental ingredient derived from crimson seaweed and is extensively used in the meals industry. It is used for its gelling, thickening, and stabilizing properties. It has vast functions in each dairy and meat product. It is extracted from purple algae and has been used in ingredients for centuries. There are three kinds of carrageenans primarily based on the variety of sulfates per disaccharide, specifically kappa-carrageenan (one sulfate), Iota Carrageenan (two sulfates), and lambda carrageenan (three sulfates). The most important driver of the carrageenan market is the rising demand for processed foods. Carrageenan is a crucial ingredient in many ingredients and liquids fed on each and every day, which include nut and soy milk, deli meats, protein shakes and powders, chocolate milk, yogurt, popsicles, and organized foods such as frozen burritos and pizza, ice cream, and child formula. On the different hand, carrageenan is a usual additive in the pharmaceutical, cosmetics, and domestic care industries, the place it can be used as a thickener or film-forming agent.

Various research has depicted that close to about eighty % of the whole seaweed manufacturing is for direct human consumption, eaten clean or dried. Seaweed is acknowledged for its dietary price or flavoring and is used in sushi, soups, salads, desserts, and condiments. It acts as a stabilizer, thicker, texturing, and gelling agent. Kappa is the most used carrageenan in food, the place it acts as a stabilizer, bodying agent, and emulsifier in cheese, ice cream, chocolate, and puddings. Iota is used for ready-to-eat meals, whereas lambda is in most cases used for whipped cream.

In this industry, product differentiation relies upon uncooked fabric and extraction techniques followed. Kappa and iota kinds are appropriate for use as gelling agents, whereas lambda is majorly used as a thickening agent as it no longer has the capacity to shape a gel. For instance, Cargill, Incorporated has developed Satiagel ADG 0220 Seabird carrageenan that can be used for gelled dairy desserts. The enterprise has in addition varied the product vary through growing Seabrid carrageenan, which can be utilized for creamy dairy muffins as a texturizing agent.

COVID-19 impact on the Semi-Refined Carrageenan Market

The carrageenan market has witnessed a considerable boom in the previous few years, and at the time of the COVID-19 pandemic, there used to be a consistent increase on account of its growing demand from the meals and beverage enterprises over the world. Carrageenan has been regarded as a therapy in opposition to coronavirus as it has antiviral properties. Moreover, as per the researched and medical check initiated through the Walgreens Boots Alliance, Cardiff University, Marinomed Biotech AG, and the fitness board of Abertawe Bro Morgannwg University, carrageenan can be used as a throat and nasal spray to battle the coronavirus. However, in the preliminary months of the COVID-19 outbreak, there have been a number of occasions that impacted the carrageenan market, such as the halt on exports from some distinguished international locations like the Philippines and Vietnam.

MARKET DRIVERS:

High Demand in Food Industry is driving the growth of the market

The market will upward shove due to rising demand for carrageenan from the meals industry, which helps to stabilize meals and drinks with the aid of stopping them from separating. The use of carrageenan instead of gelatin in growing vegan products will additionally assist pressure the market's growth. Carrageenan is used as an ingredient in yogurt, meat products, and nut milk, among different things. Furthermore, carrageenan can be observed in soy milk, hemp milk, deli meats, chocolate milk, cottage cheese, non-dairy desserts, vegan cheeses, and coconut milk, among different matters estimated to carve a way for the boom of the market.

The rising fitness focus amongst the populace and the developing requirement of herbal meal thickeners will in addition propel the increased fee of the carrageenan market. Additionally, moving consumers' tastes and preferences toward herbal and healthful products will additionally power market cost growth.

MARKET RESTRAINTS:

Adverse effects on health and the presence of alternatives are restraining the growth of the market

The presence of alternative additives in the market is restraining the growth of the market. However, quite a few fitness worries related to carrageenans, such as manageable motive bloating, glucose intolerance, and infection are estimated to restrict the international carrageenan market's increase over the forecast period. Therefore, this will task the carrageenan market increase rate.

GLOBAL SEMI-REFINED CARRAGEENAN MARKET REPORT COVERAGE:

This research report on the global Semi-Refined Carrageenan Market has been segmented and sub-segmented based on the Processing Technology, Application, and region.

Semi-Refined Carrageenan Market - By Processing Technology:

• • Software
  • Hardware
  • Services

Based on Processing Technology, Semi-refined technological know-how dominated the market with an income share of greater than 50.0% in 2021. A semi-refined procedure is a competitively priced method, thereby gaining traction in the market. Semi-refined carrageenan (SRC) consists of insoluble matter, such as cellulose. The introduction in science has led to the emergence of food-grade semi-refined carrageenan, growing its software in meal products, thereby boosting its demand.

In the majority of the international locations throughout the globe, semi-refined carrageenan has been examined and protected for human consumption and accordingly can be used in meal applications. For instance, semi-refined carrageenan is permitted as an ‘E407a’ meal additive in accordance with the European Union (EU) legislation 2012/231/EU. Alcohol precipitation is historically used for carrageenan extraction from seaweed, which offers a sophisticated and purified structure of the product. However, a couple of steps worried in the alcohol precipitation approach make bigger the value of usual processing, which is predicted to abate the phase growth. Gel press is by and large used to make kappa-type carrageenan as seaweed such as Eucheumacottonii can solely be processed thru this method. Kappa-type carrageenan has the potential to structure a gel when handled with potassium salts such as KCl used in the gel press method.

Semi-Refined Carrageenan Market- By Application:

• • Food and Beverages
  • Pharmaceuticals
  • others

Based on the Application, the meals and beverage phase dominated the market with a price share of 72.1% in 2021. Carrageenan finds utility in bakery, dairy, and meat products and beverages. Carrageenan is introduced to these products to alter viscosity or texture, which, in turn, improves their sensory properties.

It is utilized as excipients in drug transport systems. It is additionally used as a foaming, wetting, solubilizing, and stabilizing agent in pharmaceutical products. Rising R&D funding in drug formulations for the production of secure and high-quality products is anticipated to gas the section growth. The non-public care and cosmetics section is anticipated to extend at the best possible revenue-based CAGR over the projected duration on account of the rising purposes of the product in the end-use market. This product is brought in water-based non-public care and beauty products as a viscosity management agent owing to its water-binding property.

Other functions encompass the agriculture industry. The use of the product in agricultural purposes represents a promising strategy for creating plant boom and plant protection techniques. Carrageenan is additionally used as thickeners and rheology modifier marketers in fabric printing.

Semi-Refined Carrageenan Market - By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East
• Africa

Geographically, Europe held the greatest income share of 31.0% in 2021. The boom in the European area can be attributed to favorable authorities’ policies. The gel-press method is gaining recognition in the area on account that the demand for alcohol-precipitated carrageenan incurs greater manufacturing costs. In Europe, each sort of carrageenan: subtle and semi-refined are accredited by way of the European Union to be used in food merchandise beneath meals additive codes E407 and E 407a, respectively, for this reason, boosting the product demand.

In 2021, North America accounted for a sizeable income share. Seaweed processing is growing in the U.S. and Canada, which is anticipated to guide the market increase in the region. As per the Food and Agricultural Organization, the U.S. used to be one of the pinnacle 10 exporters of seaweed-based hydrocolloids in 2019, accounting for a 4.82% share in the exports of seaweed-based hydrocolloids globally.

The market in the Asia Pacific is probably to enlarge at the quickest boom charge in phrases of income over the forecast period. The presence of main meals enterprise players such as China Mengniu Dairy Co. Ltd., and Inner Mongolia Yili Industrial Group Co., Ltd. has resulted in a great increase in the typical meals and beverage enterprise in China, for this reason fueling the product demand.

Semi-Refined Carrageenan Market   Share by Company

Companies like

1. DuPont
2. Ingredion Incorporated
3. Ashland
4. CP Kelco U.S., Inc.
5. Cargill Inc.
6. Ceamsa
7. W Hydrocolloids Inc.,
8. Gelymar
9. Caldic B.V.,
10. Ina Food Industry Co. Ltd.,
11. PT. Galindo Perkasa Industri
12. ACCEL Carrageenan Corporation
13. BLG
14. MCPI Corporation
15. AEP Colloid
16. Marcel Carrageenan
17. TBK Manufacturing Corporation are playing a pivotal role in the market.

For example, Cargill Inc. signed up a contract with Caldic to extend its range of distribution of xanthan, carrageenan, and pectin in the Nordics. It is also assisting Caldic in elongating its product portfolio in the Nordics, which, in turn, will boost the carrageenan market’s growth.

The corporations energetic in the market are focusing on partnerships with small-sized businesses having a sturdy foothold in the neighborhood markets. Major players engaged in the manufacturing of carrageenan have a world attained owing to their vast geographical presence with numerous manufacturing amenities and income workplaces unfold throughout the primary continents.

NOTABLE HAPPENINGS IN THE GLOBAL SEMI-REFINED CARRAGEENAN MARKET IN THE RECENT PAST:

Distribution- In Aug 2020, Gelymar SA signed a contract with Univar Solutions Inc., a global ingredient and chemical distributor, to distribute its carrageenan products portfolio to the food and pharmaceutical industries in Canada and the United States.

Partnership -In Feb 2021, Biesterfeld and CP Kelco declared an expansion of their partnership in the nutrition and food segment in the entire Europe.