Carrageenan Gum Market Revenues to reach US$ 1 Bn by 2024 end
Verfasser: ShashiiPawar on Monday, 6 March 2017In spite of recording global sales of over 60,000 metric tonnes in 2016, Future Market Insights predicts that the global demand for carrageenan gum will witness a considerable decline. A latest research report published by Future Market Insights projects that by the end of 2024, the global consumption of carrageenan gum would have soared moderately at 4.3% CAGR and surpassed 88,000 metric tonnes. The report further reveals the real reason behind sluggish sales of carrageenan gum in the world.
According to the report, titled “Carrageenan Gum Market: Global Industry Analysis and Opportunity Assessment, 2016-2024,” the common fallacy that renders carrageenan gum as harmful ingredient has been instrumenting the decelerated growth in its global sales. Misconceptions arising from ambiguous status of carrageenan gum as a viable food ingredient has restrained the market from attaining a steady growth. The global carrageenan gum market, which is presently valued over US$ 700 million, is hence anticipated to register a 4% CAGR and bring in close to US$ 1 billion by the end of 2024.
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