Carrageenan Market Analysis

The carrageenan market is segmented by product type into iota, lambda, and kappa. Amongst these segments, the kappa segment is projected to hold the largest market share by the end of 2021. The growth of the segment can be attributed to the wide utilization of kappa carrageenan in the food and beverage industry. This type of additive is primarily derived from the red algae species Kappaphycus alvarezii, and is known to form firm, brittle gels. Owing to such properties, the additive is used massively in dairy-based products. Moreover, this type of carrageenan is known to be synergistically compatible with other gum products, and hence when combined with other gum products, it displays improved gelling properties. Additionally, it is also used as an egg alternative for manufacturing egg-less food products. On the other hand, the iota carrageenan segment is projected to grow with the highest CAGR during the forecast period. This type of specialty food chemicals is primarily extracted from the red algae species Eucheuma denticulatum, and forms an elastic gel, which is used commonly to suspend particulates within salad dressings and beverages, such as soy milk.

Our in-depth analysis of the global carrageenan market includes the following segments