North America Carrageenan Market

North America Carrageenan Market Growth and Forecast (2023 - 2028):

North America Carrageenan Market was worth USD 220 million in 2022 and estimated to be growing at a CAGR of 4.6%, to reach USD 280 million by 2028. North America imports Carrageenan mainly from China, Philippines and Indonesia because of the easy availability of the Sea weed.

Market Overview:

Carrageenan is polysaccharide, consumed as a natural preservative in several food and pharmacological applications. Carrageenan comes under the family of linear sulphated polysaccharides which are taken out from red edible seaweeds and are largely used in the food industry.

Drivers and Restraints:

The demand for Carrageenan has reduced as customers have inclined more towards alternatives such as RC Gel pressed products and SRC Grade food. As huge population desires non vegetarian food therefore, there is a great demand for meat, hence fueling this market. The accessibility of alternatives such as agar, a jelly like material has made the carrageenan market down.

North America Carrageenan Market Segmentation Analysis:

North America market for Carrageenan is segmented by type into Kappa, Lota and Lambda. Based on application the market is segregated into Food Industry, Pharmaceutical Industry and Cosmetics Industry. Food industry is further sub segmented into Dairy, Meat, Beverages and Pet Food. On the basis of grade the carrageenan market is divided amongst Refined Carrageenan and Semi Refined Carrageenan. Market is also bifurcated based on seaweed source into Gigartina, Chondrus, Iridaea and Eucheuma. Pharmaceutical industry is one of the key end-use industries of carrageenan due to its expanding application as gelling agent. 

Region Analysis:

Geographically the North America Carrageenan Market is segmented into US, Canada and Rest of North America. Owing to the varied applications of Carrageenan in dairy, meat and pet foods, the US has developed an ample market for Carrageenan and its value has augmented rapidly in the last few years.

Key Players in the Market:

Major Key Players in the North America Carrageenan Market are

• AEP Colloids
• Shemberg Marketing Corporation
• Ingredients Solutions Inc
• Gelymar SA
• Soriano SA
• Marcel Trading Corporation
• Danisco A/S
• Scalzo Food Industries
• Altrafine Gums
• TIC Gums Incorporation
• Gum Technology Corporation
• DuPont (U.S.)
• Cargill (U.S.)
• Kerry Group (Ireland)
• CP Kelco (U.S.)
• Ashland Inc (U.S.)
• Ingredion (U.S.)
• TIC Gums (U.S.)
• Tate & Lyle (U.K.)