Carrageenan has strong demand in European markets because of its wide range of applications. It’s used as a gelling agent in dairy products and thickeners to beverages, sauces, and syrups. The Philippines is the largest producer of carrageenan, accounting for around 77% of the global supply. Global export of carrageenan amounted to US$147 million in January to November 2020, with EFTA exports making up 0.85%.

Coconut, calamansi, carageenan, moringa have big potential in Europe – study. (2021, January 19). Daily Guardian, pp. 6, 7.