Europe Carrageenan Market Size & Outlook, 2022-2030
Europe carrageenan market, 2018-2030 (US$M)
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Europe carrageenan market highlights
- The Europe carrageenan market generated a revenue of USD 300.1 million in 2022.
- The market is expected to grow at a CAGR of 5.1% from 2023 to 2030.
- In terms of segment, semi-refined was the largest revenue generating processing technology in 2022.
- Gel Press is the most lucrative processing technology segment registering the fastest growth during the forecast period.
- Country-wise, France is expected to register the highest CAGR from 2023 to 2030.
Europe data book summary
| Market revenue in 2022 | USD 300.1 million |
| Market revenue in 2030 | USD 446.6 million |
| Growth rate | 5.1% (CAGR from 2022 to 2030) |
| Largest segment | Semi-refined |
| Fastest growing segment | Gel Press |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Alcohol Precipitation, Gel Press, Semi-Refined |
| Key market players worldwide | DuPont de Nemours Inc, Ingredion Inc, Ashland Inc, CP Kelco, Cargill, 374Water Inc, Accell, Bluglass Ltd, MGP Ingredients Inc, Anglo-Eastern Plantations PLC, Trailbreaker Resources Ltd, Tate & Lyle PLC |
Other key industry trends
- In terms of revenue, Europe region accounted for 34.4% of the global carrageenan market in 2022.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 388.7 million by 2030.
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Carrageenan Market Scope
Carrageenan Market Companies
| Name | Profile | # Employees | HQ | Website |
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Europe carrageenan market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to carrageenan market will help companies and investors design strategic landscapes.
Semi-refined was the largest segment with a revenue share of 45.65% in 2022. Horizon Databook has segmented the Europe carrageenan market based on alcohol precipitation, gel press, semi-refined covering the revenue growth of each sub-segment from 2018 to 2030.
The growth in the European region can be attributed to, considerable production capacities, advantageous government policies and early adoption of carrageenan in food & beverage sector. The carrageenan industry in Europe has been impacted by changes in the production method.
Additionally, the popularity of gel-pressing techniques grew as the market for alcohol-pressed carrageenan declined as a result of high manufacturing expenses.The popularity of the gel-press technique grew as the market for alcohol-pressed carrageenan decreased as a result of high cost of production.
The PES method produces low-priced semi-refined kappa carrageenan, which has a negative impact on the market for gel-pressed carrageenan. The majority of uses for semi-refined carrageenan are in pet foods. Because of the switch from canned to dry pet food, the market for carrageenan is declining.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe carrageenan market , including forecasts for subscribers. This continent databook contains high-level insights into Europe carrageenan market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe carrageenan market size, by country, 2018-2030 (US$M)
Europe Carrageenan Market Outlook Share, 2022 & 2030 (US$M)
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