The North America Alginate Casings Market would witness market growth of 9.9% CAGR during the forecast period (2023-2030).
The US market dominated the North America Alginate Casings Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $297.1 Million by 2030. The Canada market is experiencing a CAGR of 10.4% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 10.9% during (2023 - 2030).
The food industry's perpetual evolution is propelled by consumers' ever-changing inclinations and the quest for inventive approaches to improve food manufacturing procedures. Within this landscape, one noteworthy player making significant strides is the market.
Additionally, it, derived from seaweed extracts, have emerged as a groundbreaking alternative to traditional casings, particularly in the sausage manufacturing sector. Adopting this represents a paradigm shift in manufacturing sausages.
As per the data from the Government of Canada, in 2022, the food and beverage processing industry were the largest manufacturing industry in Canada in terms of production value, with sales of goods manufactured worth $156.5 billion. In 2022, processed food and beverage product exports reached a noteworthy $54.3 billion in value, reflecting a 14.1% growth compared to 2021. This figure accounted for 34.7% of the total value of production. Thus, the rising meat consumption and food and beverage sector in North America will help in the expansion of the regional market.
Free Valuable Insights: The Alginate Casings Market is Predict to reach USD 1.1 Billion by 2030, at a CAGR of 10.4%
Based on End User, the market is segmented into Food Industry, and Pet Food Industry. Based on Usage, the market is segmented into Halal, Kosher, and Others. Based on Application, the market is segmented into Meat, Fish, and Vegan. Based on Type, the market is segmented into Flavored, Colored, and Basic. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
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