North America Seaweed Cultivation Market is worth US $ xx million in 2021, and it is estimated that it will reach a valuation of US $ xx million by the end of 2026 with an annual compound rate of xx% between 2021 and 2026.
Seaweed cultivation is becoming more popular to its popular health benefits. It is becoming quite important to outstrip the supply of seaweed from natural sources that is promoting the commercial harvesting. Additionally, from the latest source 70% to 80% of oxygen to the planet is from the marine plants like seaweeds. This factor is instantly increasing the demand for the cultivation of the seaweed. Also, the seaweed helps to offset 180-200 million tons of carbon dioxide every year. This is big factor for encouraging the seaweed cultivation. In North America, agencies, authorities and associations are promoting the seaweed cultivation benefits in various ways.
Increasing demand for the seaweed cultivation for food and related products is gaining traction over the North America seaweed cultivation market.
Recent Market Developments:
Expanding applications of seaweed in end user industries is mainly driving the demand of the North America seaweed cultivation market. In some areas seaweed is considered as super food that includes vitamins, proteins, and calcium. In dessert, frozen food, sauces and pet food, the seaweed is greatly used for taste. Additionally, this is used in cosmetics and personal care products that is eventually propelling the growth rate of the market. Seaweed has significant role in various end users that I greatly influencing the demand of the seaweed cultivation market in North America. Presence of key players in the region is anticipated to fuel the demand of the market. Key strategies by players to evaluate the shares of the seaweed cultivation is enhancing the demand of the market to the extent. Along with this, growing investments from the government organizations and prevalence to improve the infrastructure in developed countries are bolstering the growth rate of the North America seaweed cultivation market. Emergence of digital platforms is setting new opportunities for the market growth in the coming period. Adoption of latest technologies like machine learning, artificial intelligence and others is boosting up the demand of the North America seaweed cultivation market.
However, lack of complete knowledge over the cultivation of seaweed according to the seasonal changes is slowly restraining the demand of the North America seaweed cultivation market. Unfavorable government regulations in approving the certain type of seaweeds as they are harmful for human health is a degrading factor for the market growth. Besides, seaweed is safe where as excessive consumption may lead to severe health problems. This is slowly to degrade the demand of the market. In undeveloped countries, poor infrastructure is an attribute to curb the shares of the market. Fluctuations in the supply chain for sustainable production is hindering the demand of the North America seaweed cultivation market.
Impact of COVID 19 on North America Seaweed cultivation Market:
COVID 19 disrupted the supply chain and production unit in distinct ways. Due to lockdown restrictions and ban on the flight distracted the flow of the production units across the globe. In 2021, the North America seaweed cultivation market started to rise as the world is slowly coming into the normal state by boosting up the vaccine drive everywhere. The seaweed cultivation market in North America is expected to maintain the steady pace in the forecast period 2021-2026.
Market Segmentation Analysis:
Based on the application, the North America seaweed cultivation market is divided into feed, food, agriculture and pharmaceuticals. Feed segment is leading with the highest shares of the market. Increasing prevalence for the safe food products and growing consumers awareness are anticipated to fuel the demand of this segment. Besides, agriculture segment is projected to have the highest CAGR in the forecast period.
By form, the North America seaweed cultivation market is classified into powder, flakes, liquid and sheets. Powder segment is gaining traction over the market shares from past few years. Flakes segment is next in leading the significant shares of the market. Growing prevalence for the cultivation of seaweed in various countries due to its major benefits is likely to boost the growth rate of the market.
North America seaweed cultivation market is having the dominant shares of the market among all the regions. Increasing expenditure on the food industry is substantially promoting the demand of the market. Also, prevalence for the improvement of living standards of coastal community is ascribed to outrage the demand of the North America seaweed cultivation market. Seaweed cultivations is ecofriendly that is they do not throw harmful effects to the environment. This is also anticipated to bolster the demand of the market. Along with this, increasing popularity of different styles in cultivation is fueling the growth rate of the market.
US seaweed cultivation market is ruling with the significant shares of the market in North America. Growing economy and increasing prominence for the cultivation of non-hazardous plants for environment safety is driving the market growth. Increasing demand for the usage of marine resources in many applications are ascribed to propel the growth rate of the US seaweed cultivation market. Encouragement from the government and non-government organizations are enhancing the demand of the market tremendously. Amid COVID 19 disruptions, the market shares are sustaining at the highest position.
Canada seaweed cultivation market is following US seaweed cultivation market in dominating the largest shares. Constant growth in the economy and rising prevalence to adopt healthy lifestyle are enhancing the growth rate of the seaweed cultivation market in Canada. Also, rising utilization of seaweed in food industry for various purposes is likely to leverage the growth rate of the Canada seaweed cultivation market.
Key Players in the Market:
Major Key Players in the North America Seaweed Cultivation Market are
Cargill, Incorporated, DuPont, Groupe Roullier, CP Kelco U.S., Inc., Acadian Seaplants, Qingdao Gather Great Ocean Algae Industry Group, Qingdao Seawin Biotech Group Co. Ltd., Qingdao Bright Moon Seaweed Group Co., Seaweed Energy Solutions AS, The Seaweed Company, Algea, Seasol, Gelymar, Algaia , CEAMSA, COMPO EXPERT, Leili, Irish Seaweeds and AtSeaNova are prominent key players in North America seaweed cultivation market.