From Wikipedia:

Health concerns

The Joint FAO/WHO expert committee on food additives states that, "based on the information available, it is inadvisable to use carrageenan or processed eucheuma seaweed in infant formulas".[14] There is evidence from studies performed on rats, guinea pigs, and monkeys that indicates that degraded carrageenan (poligeenan) may cause ulcerations in the gastro-intestinal tract and gastro-intestinal cancer.[15] Poligeenan is produced from carrageenan subjected to high temperatures and acidity. The average carrageenan molecule weighs over 100,000 Da while poligeenans have a molecular weight of less than 50,000 Da. A scientific committee working on behalf of the European Commission has recommended that the amount of degraded carrageenan be limited to a maximum of 5% (which is the limit of detection) of total carrageenan mass. Upon testing samples of foods containing high molecular weight carrageens, researchers found no poligeenan.[16]

A recent publication[17] indicates that carrageenan induces inflammation in human intestinal epithelial cells in tissue culture through a BCL10-mediated pathway that leads to activation of NFkappaB and IL-8. Carrageenan may be immunogenic due to its unusual alpha-1,3-galactosidic link that is part of its disaccharide unit structure. Consumption of carrageenan may have a role in intestinal inflammation and possibly inflammatory bowel disease, since BCL10 resembles NOD2, mutations of which are associated with genetic proclivity to Crohn's Disease.

Carrageenan is reported to interfere with macrophage activity.[18][19][20]

I'm going to avoid it.

Aroy-D brand coconut milk doesn't contain carageenan, guar gum or any other additives. Many people following the Paleo lifestyle like this brand. It's a Thai brand, and is usually available in Asian supermarkets (I used to buy mine in Chinatown in Toronto). It's available canned or in tetrapacks. The tetrapacks are ultimately the best for you, since the cans are still lined with BPA-containing plastic.

Now, I personally don't like the flavour of Aroy-D coconut milk. After wasting 2-3 cans of the stuff, I started making my own coconut milk. It's really easy, and it's cheaper than most of the canned/boxed options out there.

Here's how you do it:

Start out with a cup of shredded (unsweetened) coconut. Boil one cup of water

After the water is boiling, dump both the coconut and boiling water into a blender and blend for 5 minutes. Strain the milk (in cheesecloth, nut milk bag, unbleached coffee filter, etc). and voila! You have homemade, gut-irritant-free coconut milk.

Notes: make sure you boil the water first. It helps melt the fat in the coconut, and it makes the milk creamier.

I store mine in a jar in the fridge and enjoy it in my coffee in the morning. You can always add more/less water depending on how thick you like it.

The fact of the matter is, manufacturers do not have to add extra ingredients to a label if it is under a certain percentage of the product in many foods. Real coconut milk separates when cooled just like coconut oil goes from liquid to solid when cooled. If you want cheap and true coconut milk, make it yourself.

Carageenan does not sit well in my stomach. My stomach makes a lot of noise after eating something that has it. Now I just try to avoid it.

West soy original unsweetened soy milk does not have carrageenan in it. Yeah !! I want to have a coconut milk that does to have it in it. Anyone know of one Drinking coconut milk not cooking.