Market Introduction
Seaweeds are red, brown, and green marine microalgae; their extracts are used in the horticultural crops owing to their plant growth promoting effects. The major derivatives of seaweeds include alginates, carrageenans, and agars, while their chemical derivatives include fatty acids and vitamins, mineral nutrients, phytoharmones, and complex polysaccharides, among others. Alginates are largely extracted from brown seaweeds, while carrageenans and agars are largely extracted from red seaweeds. Alginates, carrageenans, and agars are increasingly being used in food and beverages, animal feed, and agriculture industries, among others.
Market Overview and Dynamics
The North Americaseaweed derivativesmarket is expected to reach US$ 593.39 Mn by 2027 from US$ 328.01 Mn in 2018. The market is anticipated to grow at a CAGR of 6.8% from 2019 to 2027.The rising demand from the food & beverages industry and health benefits of seaweeds and seaweed derivatives are among the key factors driving the market growth. However, the lack of consumer awareness regarding seaweed derivatives limits the market growth in the region.
Key Market Segments
The red seaweed segment accounted for the largest market share of the North America seaweed derivatives market, by source, in 2018. In terms of form, the liquid segment held the largest share of the market by 2027. In 2018, the food & beverages segment held the most significant share of the North America seaweed derivatives market, based on enduse.
Major Sources and Companies Listed
A few of the major primary and secondary sources associated with this report on the North America seaweed derivatives market are W Hydrocolloids, Inc.; KIMICA Corporation; DuPont de Nemours, Inc.; Gelymar S.A.; CP Kelco; Algaia; Compañía Española de Algas Marinas, S.A.; Cargill, Incorporated; and Agarmex, S.A. DE C.V.
Impact of COVID-19 Pandemic on Seaweed DerivativesMarket
The recent COVID-19 outbreak first began in Wuhan (China) in December 2019, and since then, it has spread worldwide at a fast pace. The COVID-19 outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The US has registered the highest number of confirmed COVID-19cases in the world, as well as in North America. This has adversely affected the food &beverages industry in the region due to the supply chain disruptions.
Reasons to Buy Report
NORTH AMERICA SEAWEED DERIVATIVES MARKET SEGMENTATION
By Source
By Form
By End-Use
By Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 328.01 Million |
| Market Size by 2027 | US$ 593.39 Million |
| CAGR (2019 - 2027) | 6.8% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Source
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Seaweed Derivatives Market is valued at US$ 328.01 Million in 2018, it is projected to reach US$ 593.39 Million by 2027.
As per our report North America Seaweed Derivatives Market, the market size is valued at US$ 328.01 Million in 2018, projecting it to reach US$ 593.39 Million by 2027. This translates to a CAGR of approximately 6.8% during the forecast period.
The North America Seaweed Derivatives Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Seaweed Derivatives Market report:
The North America Seaweed Derivatives Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Seaweed Derivatives Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Seaweed Derivatives Market value chain can benefit from the information contained in a comprehensive market report.
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