Carrageenan Film Market Analysis

Carrageenan Film Market: Market Dynamics

Edible packaging products have gained significant momentum in the last few years due to the increasing consumer inclination towards using more eco-friendly products. Plastic packaging is not biodegradable in nature and creates a lot of pollution in the environment which, in turn, will hamper its growth and create future growth prospects for the biodegradable packaging materials such as edible carrageenan films. The carrageenan film market is growing at a significant pace in the developed economies of the North American and European regions. The market is also expected to witness strong growth in the developing countries of the Asia-Pacific and Latin American regions. Carrageenan films offer exceptional high-barrier properties which could increase the shelf life of meat & poultry and dairy products. This is the major factor driving the growth of the global carrageenan film market. A recent trend noticed in the carrageenan film market is the high spending on research and development activities to discover new end-use applications in the edible packaging market. Biodegradable packaging materials are gaining popularity across the world due to the orientation of brand-owners towards sustainability initiatives and opting out of plastic packaging products. There are significant growth opportunities for the new entrants as well as existing manufacturers in the global carrageenan film market.

Carrageenan Film Market: Regional Overview

On the basis of region, the carrageenan film market is segmented as North America, Latin America, Eastern Europe, Western Europe, APEJ (Asia-Pacific Excluding Japan), Middle East & Africa, and Japan. North America, followed by Europe, dominates the global carrageenan film market in terms of both, revenue and consumption. The demand for carrageenan films is expected to witness strong growth in the developed countries such as the U.S., Germany, U.K., and France due to the changing consumer preferences towards organic foods and biodegradable packaging products such as carrageenan films. The Japanese carrageenan film market is expected to enter a growth phase and create immense growth opportunities for the packaging manufacturers. Multinational packaging companies are also planning to establish a manufacturing base for carrageenan films to cater to local and global markets. Currently, India and China are witnessing strong growth in the packaging industry and are expected to continue this growth wave during the forecast period. However, it is observed that these countries might witness slow growth for specialty packaging products such as carrageenan films due to the lack of technological and manufacturing capabilities. Similarly, countries in the Latin America carrageenan market are expected to witness average growth during the forecast period. Brazil and Mexico emerged as high growth markets in the Latin America region. Countries such as Saudi Arabia and UAE offer untapped growth opportunities in the carrageenan film market.

Carrageenan Film Market: Market Players

Some of the key players in the carrageenan film market are JetNet Corporation, Chris-Kraft Polymer Inc., BioEnvelop Inc., and COGIN among others.

The carrageenan film market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The carrageenan film market report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The carrageenan film market report also maps the qualitative impact of various market factors on market segments and geographies.

Regional Analysis Includes:

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific excluding Japan (APEJ)
• Japan
• Middle East & Africa (MEA)