North America Commercial Seaweed Market Size, Share & Industry Trends Analysis Report By Product (Red Seaweed, Brown Seaweed, and Green Seaweed), By Application, By Form (Liquid, Powdered, and Flakes), By Country and Growth Forecast, 2021 - 2027
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Market Report Description
The North America Commercial Seaweed Market would witness market growth of 11.2% CAGR during the forecast period (2021-2027).
Red seaweeds are gaining popularity among people across the world. The ability of red seaweeds to control blood sugar levels and reduce bad cholesterol is one of its main advantages. It is also rich in antioxidants and helps to strengthen the immune system while also nourishing the skin. These factors are increasing the utilization of red seaweeds in the food & beverage industry. Agar, carrageenan, and alginate are seaweed extracts that have a wide variety of functions in the dairy sector. These extracts can be found in cheese, creams, pastries, ice creams, dairy powder, and dairy drinks, functioning as a thickening and gelling agent. Alginates are also utilized as stabilizers in milk drinks, such as chocolate milk, in order to increase their viscosity.
According to the National Oceanic and Atmospheric Administration of the US Department of Commerce, seaweed cultivation, in the US, is the fastest-growing aquaculture. According to the data shared by the organization, in 2019, Alaska produced more than 112,000 pounds of ribbon, sugar, and bull kelp. In addition, this production is increased by 200% from 2017. Further, North America’s largest kelp farm is situated in southeastern Alaska.
Moreover, Carrageenan, which is extracted from red seaweed, is a product that is majorly being exported by the United States. Carrageenan accounts for more than 94% of the total seaweed exports of the country. In addition, the consumption of seaweed is also increasing in the region due to the rising awareness of people about its benefits. Moreover, according to the Center for Disease Control and Prevention, the number of patients with diabetes is increasing across the US.
The US market dominated the North America Commercial Seaweed Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $2,404.4 million by 2027. The Canada market is exhibiting a CAGR of 13.7% during (2021 - 2027). Additionally, The Mexico market would showcase a CAGR of 12.7% during (2021 - 2027).
Based on Product, the market is segmented into Red Seaweed, Brown Seaweed, and Green Seaweed. Based on Application, the market is segmented into Human Consumption, Agriculture Animal Feed, and Others. Based on Form, the market is segmented into Liquid, Powdered, and Flakes. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include DuPont de Nemours, Inc., Groupe Roullier, Brandt, Inc., Acadian Seaplants Limited, Indigrow Ltd., COMPO Group, Seasol International Pty Ltd., Gelymar SA (Algina Inversiones SA), Cargill Corporation, and Biostadt India Ltd.
Scope of the Study
Market Segments Covered in the Report:
- Red Seaweed
- Brown Seaweed
- Green Seaweed
- Human Consumption
- Animal Feed
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- DuPont de Nemours, Inc.
- Groupe Roullier
- Brandt, Inc.
- Acadian Seaplants Limited
- Indigrow Ltd.
- COMPO Group
- Seasol International Pty Ltd.
- Gelymar SA (Algina Inversiones SA)
- Cargill Corporation
- Biostadt India Ltd.
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