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Category Alerts


Increased Seaweed Cultivation Can Be Expected From Andhra Pradesh, India

March 29, 2023
alert level: High

Record Bloom of Seaweed in Atlantic Sargassum Belt

April 04, 2023
alert level: Medium

Nutrient rich seaweed

August 23, 2022
alert level: Low

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Carrageenan Market Monitoring Dashboard

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Carrageenan Industry Benchmarks

Savings Achieved

(in %)

The average annual savings achieved in Carrageenan category is 5.30%

Payment Terms

(in days)

The industry average payment terms in Carrageenan category for the current quarter is 75.6 days

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    Carrageenan market report transcript

    Carrageenan Global Market Outlook

    • Global Market Size: 2.75 MMT

    • Supply Growth Rate: 2.85 percent

    • The global hydrocolloids market size was estimated at $9.77 billion in 2021, and it is expected to grow at a CAGR of 5.3 percent from 2021 to 2025. Growth of the hydrocolloids market is driven by the expansion of the processed food industry because of the increase in demand for convenience foods in the emerging countries of the APAC, South America, and the Middle East & African regions.

    Global Supply–Demand Analysis

    • The hydrocolloid supply was estimated to decreased by 3.6 percent in 2022 compared to last year, in terms of volume mostly due to constrained market conditions and low supply of guar gum, xanthan gum etc.

    • Hydrocolloid production is expected to increase by around 2 to 3 percent in 2023, supported by revival in operating rates.

    • Corn starch leads the hydrocolloids market segment, followed by guar gum, due to a steep demand from the oil & gas industry and the food sector

    • The use of xanthan gum and carrageenan in the food and beverage industry has been in demand, owing to the increasing health consciousness among the consumers and multi-functionality of hydrocolloids. Other hydrocolloids, such as alginates, agar, and CMC hold a minor share

    Porter's Analysis on Carrageenan

    Supplier Power

    • Carrageenan constitute to a cardinal part to the carrageenan seaweed farmers

    • Prices of seaweed determine the prices of final carrageenan sold to end-users

    • Farmers and respective associations have an upper hand in determining the prices

    Barriers to New Entrants

    • Access to feedstock is limited, as it is grown mainly in Indonesia and the Philippines

    • There is only minor differentiation in the quality among the different brands of Carrageenan, hence, creating less price premiums

    • Thus, barriers to new entrants in the carrageenan industry are strong

    Intensity of Rivalry

    • There is a huge number of carrageenan manufacturers concentrated in China, Europe, Philippines, Indonesia, and India

    • Limited product differentiation results in lower profit margins for the sellers

    • Lower switching cost results in competitive pricing in the industry

    Threat of Substitutes

    • Agar is the best substitute for carrageenan. Although it has superior qualities, it is more than twice the cost of SRC and not widely available, like carrageenan

    • Other potential substitutes include guar gum and xanthan gum

    Buyer Power

    • The growth of carrageenan depends mainly on the growth of its end-user industries, like the processed foods, dairy, etc.

    • The cost of carrageenan accounts only for a small portion in the end product

    • The switching cost for the buyer is relatively lower, as there is limited product differentiation among the various grades of carrageenan

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