The size of the North America carrageenan market is expected to be worth USD 350.15 million in 2024 and grow at a CAGR of 5.37% from 2024 to 2032 to achieve USD 532.06 million by 2032. North America imports Carrageenan mainly from China, Philippines and Indonesia because of the easy availability of the Sea weed.
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.
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.
Pharmaceutical industry is one of the key end-use industries of carrageenan due to its expanding application as gelling agent.
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.
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.), and Tate & Lyle (U.K.)
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