The food and beverages segment is expected to dominate the global carrageenan gum market
The food and beverages application segment is expected to expand at a CAGR of 4% over the forecast period. This segment was estimated to create absolute $ opportunity of more than US$ 12,000 in 2016 over 2015, and is likely to record an incremental opportunity of over US$ 140,000 between 2016 and 2024. The food and beverages segment is anticipated to dominate the global carrageenan gum market by revenue over the forecast period. In 2024, the food and beverages segment is expected to contribute a revenue share of more than 52% to the global carrageenan gum market.
Increasing use of carrageenan gum in processed food is expected to drive its demand in the food and beverages segment
The functional properties of carrageenan gum and its versatility meet the needs and requirements of food and beverage manufacturers, as it improves the properties of food such as texture and stability of liquid content. In beverages, it is used for clarification of beer and as a fining agent in wine to remove protein. It is primarily used as a stabiliser, thickener, protein stabiliser, and particle suspension and emulsifying agent in various processed food products such as salad dressings, ice creams, dairy based products, sour cream and chocolate milk. Carrageenan gum is widely used as a substitute for animal based gelatins in various food products for vegan consumers. Carrageenan gum is also used in diverse food applications such as confectioneries, beverages and bakery products. An increasing consumption of carrageenan gum in various processed foods across the globe is anticipated to boost overall growth of the global carrageenan gum market to a certain extent over the forecast period. Another factor driving global revenue growth of the food and beverages segment is that hydrocolloids, especially carrageenan gum, is used in meat products to impart viscosity and texture. Increasing demand for processed meat products globally is fuelling demand for carrageenan gum in the meat processing industry. Moreover, various manufacturers are offering customers pre-packed sliced meat products that require more control of syneresis. In order to control syneresis, carrageenan gum is added to meat products to impart hard texture and enhance the shelf life of the products. This is expected to contribute to the growth of the food and beverages segment of the global carrageenan gum market during the period of forecast.
By revenue, the food and beverages segment is projected to dominate the North America carrageenan gum market
Increasing usage of carrageenan gum for application in dairy and confectionery products is expected to drive revenue growth of the food and beverages segment globally over the forecast period. The food and beverages industry in Europe and Asia Pacific is expected to witness favourable growth due to regular introduction of new and innovative products coupled with increasing per capita income levels in the respective regions. The carrageenan gum market in Europe is expected to remain dominant in terms of both value and volume share over the forecast period. The Europe carrageenan gum market is anticipated to hold a revenue share of more than 35% in the global carrageenan gum market by 2024, closely followed by the APAC carrageenan gum market with a revenue share of more than 20%. High demand for carrageenan gum for application in meat processing is anticipated to support the growth of the food and beverages segment over the forecast period in Europe. Increasing consumption of processed foods in Asia Pacific is expected to drive demand for carrageenan gum over the forecast period; while in MEA, a growing preference for carrageenan gum as a stabiliser and emulsifier in processed food products is expected to drive growth of the food and beverages segment over the forecast period.
In a recent report titled “Carrageenan Gum Market: Global Industry Analysis and Opportunity Assessment, 2016-2024,” Future Market Insights offers an eight year forecast of the global carrageenan gum market. The primary objective of the report is to offer insights on the advancements in the global carrageenan gum market. The study demonstrates market dynamics that are expected to influence the current environment and future status of the global carrageenan gum market over the forecast period. This report offers updates on trends, drivers, restraints, value forecasts, and opportunities for manufacturers operating in the global carrageenan gum market. The report also discusses how the overall competition in the market is steadily increasing and identifies various factors shaping internal as well as external competition in the market. Various entry barriers in the industry are analysed and rated on the basis of their impact on the competition level in the global carrageenan gum market.
The report analyses the market share of the global carrageenan gum market on the basis of application and region. A section of the report highlights region-wise carrageenan gum demand. It provides a market outlook for 2016–2024 and sets the forecast within the context of the carrageenan gum ecosystem, including new technological developments as well as product offerings in the global carrageenan gum market. This study discusses key regional trends contributing to the growth of the carrageenan gum market globally, as well as analyses the degree to which drivers are influencing the market in each region.
Comprehensive evaluation of key players’ short-term and long-term business strategies is the essence of this report
Our report on the global carrageenan gum market starts with an overview of the market followed by key definitions. Our analysts present the executive summary along with market taxonomy where we have segmented the global carrageenan gum market on the basis of application and region. We also offer our independent analysis of various factors, challenges, and market trends that we feel will define the market in the next few years. The subsequent sections comprise value chain analysis, key market strategies, market regulations and a comprehensive market forecast.
We have devoted the last section of the report to study the market performance of some of the top companies operating in the global carrageenan gum market. We have profiled a few of the leading market players and presented a detailed analysis of their overall business performance and a comprehensive evaluation of their short-term and long-term business and go-to-market strategies. This section is intended to provide report audiences with a dashboard view of the competitive landscape of the global carrageenan gum market. The report provides analysis of the global carrageenan gum market in terms of market value (US$ ‘000’).
Global carrageenan gum market segmentation
Yearly change in inflation rate has not been considered while forecasting market numbers. Top-down approach has been used to assess market numbers for each segment. Bottom-up approach has been used to counter-validate the reached numbers for segment type market numbers. Macroeconomic indicators such as food industry outlook, food and beverage spending, and others have been considered to arrive at the indicated market numbers.
A detailed analysis has been provided for every segment in terms of market size analysis for the carrageenan gum market across the globe. In addition, owing to the ever-fluctuating nature of the global economy, we have not only conducted the forecasts in terms of CAGR but have also analysed the global carrageenan gum market on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities likely to emerge in the global carrageenan gum market. Also, another key feature of our report on the global carrageenan gum market is the analysis of all key market segments in terms of absolute dollar. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity analysis is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the global carrageenan gum market. In addition, to understand the different market segments in terms of their growth and performance in the global carrageenan gum market, Future Market Insights has developed a unique market attractiveness index to identify real market opportunities across the global carrageenan gum market.