The Middle-East and Africa Carrageenan Market was worth USD 80 million in 2022 and estimated to be growing at a CAGR of 5.01%, to reach USD 100 million by 2028.
Carrageenans are large, highly flexible molecules that curl forming helical structures. This gives them the ability to form a variety of different gels at room temperature. They are widely used in the food and other industries as thickening and stabilizing agents.
Drivers and Restraints:
Increasing demand for food additives, gelling and emulsifying agents is expected to activate the market growth over the next seven years. Growing demand for hydrocolloids from several industries such as pharmaceutical, food & beverages, personal care & cosmetics is estimated to complement the market growth over the forecast period. Increasing concerns over benefits of carrageenan are hindering the market.
MEA Carrageenan Market Segmentation Analysis:
Middle-East and Africa market for Carrageenan is segmented by type into Kappa, Lota and Lambda. Based on application the market is segregated into Food Industry, Pharmaceutical Industry and Cosmetics Industry. Food industry is further sub segmented into Dairy, Meat, Beverages and Pet Food. On the basis of grade the carrageenan market is divided amongst Refined Carrageenan and Semi Refined Carrageenan. Market is also bifurcated based on seaweed source into Gigartina, Chondrus, Iridaea and Eucheuma. Pharmaceutical industry is one of the key end-use industries of carrageenan due to its expanding application as gelling agent.
Geographically the market is segmented into Middle-East and Africa. Africa is dominating the region’s market and expected to continue its dominance over the forecast period.
Key Players in the Market:
Major key players in the MEA Carrageenan Market are
AEP Colloids, Shemberg Marketing Corporation, Ingredients Solutions Inc., Gelymar SA, Soriano SA, Marcel Trading Corporation, Danisco A/S, Scalzo Food Industries, Altrafine Gums, TIC Gums Incorporation, Gum Technology Corporation, DuPont (U.S.), Cargill (U.S.), Kerry Group (Ireland), CP Kelco (U.S.), Ashland Inc (U.S.), Ingredion (U.S.), TIC Gums (U.S.) and Tate & Lyle (U.K.).
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