Carrageenan Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Carrageenan in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Carrageenan Price Trend for the Second Half of 2023

Carrageenan prices showcased a fluctuating trajectory in accordance with variations in the market of its feedstock seaweed. Carrageenan is a naturally occurring polysaccharide that is used as a plant-base substitute for gelatine. Since gelatine cannot be used in vegan and vegetarian diets because of its animal source, carrageenan is used instead. As veganism is on the rise, the demands were more or less firm throughout the said period.

Carrageenan Price Chart

Carrageenan Price Trend

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Tanzania, the biggest seaweed producer, registered a record 52% year-on-year growth in the seaweed yield in the third quarter. This, however, brought the upstream costs under control and balanced out the prices in markets. Since healthy upstream and downstream outlooks were witnessed, a steady and average market performance was registered.

Analyst Insight

According to Procurement Resource, the Carrageenan price trends are likely to fluctuate within a limited range in the coming months. The supply and demand dynamics appear stable for the Carrageenan market.

Carrageenan Price Trend for the First Half of 2023

Carrageenans are flexible, naturally sulfated molecules used for various purposes. But famously, it is a good phyto-based gelatin replacement for vegan people. It is used as a thickening and gelling agent for foods and beverages.

Carrageenan prices are driven by its feedstock seaweed prices. Seaweed prices are directly dependent on the yield collected by the seaweed farmers, which ensures market supply. During the discussed period, seasonal and climatic disruptions affected the seaweed crop immensely. Unseasonal and uneven rainfalls created situations of floods in some places and conditions of drought in some, which considerably reduced the seaweed yield.

With curtailed supplies amidst low yields, the upstream costs rose, increasing the overall prices. However, as the demands from the consumption sectors were moderate, a swinging price trend was observed.

Analyst Insight

According to Procurement Resource, the price trend for Carrageenan will continue to fluctuate in the coming months, given the lower yields owing to persistent harsh weather conditions.

Procurement Resource provides latest prices of Carrageenan. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.

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About

Carrageenans are natural sulfated polysaccharides, highly flexible molecules that form curling helical structures. Carrageenan is extracted from a red seaweed commonly known as Irish Moss. This edible seaweed is native to the British Isles and has been used in cooking for hundreds of years, and it's also widely used in the food industry as a thickener and gelling agent. Unlike gelatin, which is made from animal products, Carrageenan is appropriate for vegans.

Product Details

Report Features Details
Product Name Carrageenan
HS CODE 13023290
CAS Number 9000-07-1
Industrial Uses Thickener, Gelling Agent, Processed Foods, Biotechnology, Lubricants, Beverages
Chemical Formula C23H23FN4O7Zn
Synonyms Condrus crispus, Irish Moss
Molecular Weight 551.83 g/mol
Supplier Database MCPI Corp (Philippines), Marcel Carrageenan (Philippines), PT Fortuna Cahaya Cemerlang (Indonesia)., Ina Food Industry Co. Ltd (Japan), Caldic BV (Netherlands)
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery


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Production Process

  • Production of Carrageenan via Extraction

The seaweed is harvested and dried, then sent to the industrial manufacturer. The seaweed is grounded into powder, sifted to remove impurities like sand and dirt, and then washed thoroughly. This intermediate product is then treated with a hot alkali solution, and the cellulose is removed via filtration and centrifugation. The resulting solution is evaporated to obtain the desired outcome.

Methodology

The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e., government agencies, external trade bodies, and industry publications).

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