North America Carrageenan Market Size & Outlook, 2022-2030
North America carrageenan market, 2018-2030 (US$M)
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North America carrageenan market highlights
- The North America carrageenan market generated a revenue of USD 211.6 million in 2022.
- The market is expected to grow at a CAGR of 4.7% from 2023 to 2030.
- In terms of segment, semi-refined was the largest revenue generating processing technology in 2022.
- Gel Press is the most lucrative processing technology segment registering the fastest growth during the forecast period.
- Country-wise, Canada is expected to register the highest CAGR from 2023 to 2030.
North America data book summary
| Market revenue in 2022 | USD 211.6 million |
| Market revenue in 2030 | USD 306.5 million |
| Growth rate | 4.7% (CAGR from 2022 to 2030) |
| Largest segment | Semi-refined |
| Fastest growing segment | Gel Press |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Alcohol Precipitation, Gel Press, Semi-Refined |
| Key market players worldwide | DuPont de Nemours Inc, Ingredion Inc, Ashland Inc, CP Kelco, Cargill, 374Water Inc, Accell, Bluglass Ltd, MGP Ingredients Inc, Anglo-Eastern Plantations PLC, Trailbreaker Resources Ltd, Tate & Lyle PLC |
Other key industry trends
- In terms of revenue, North America region accounted for 24.3% of the global carrageenan market in 2022.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 388.7 million by 2030.
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Carrageenan Market Scope
Carrageenan Market Companies
| Name | Profile | # Employees | HQ | Website |
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North America carrageenan market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to carrageenan market will help companies and investors design strategic landscapes.
Semi-refined was the largest segment with a revenue share of 44.9% in 2022. Horizon Databook has segmented the North America carrageenan market based on alcohol precipitation, gel press, semi-refined covering the revenue growth of each sub-segment from 2018 to 2030.
In 2020, North America emerged as one of the most prominent regional markets for carrageenan. The U.S., followed by Canada is dominating the industry owing to growing agricultural activities to achieve high productivity, which has led to a high demand for bio stimulant products in the region.
Bio stimulant producers mainly prefer products such as carrageenan and agar as their demand is higher from the agriculture segment where they offer numerous benefits such as high productivity and superior plant growth. These factors are likely to drive the carrageenan market growth.
In North America, major players such as DuPont, and CP Kelco are engaged in production of refined carrageenan using alcohol precipitation or gel press methods. The U.S. Food and Drug Administration has approved use of refined carrageenan in food products in the U.S. In U.S. and Canada seaweed processing is increasing and it is likely to support the market growth.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America carrageenan market , including forecasts for subscribers. This continent databook contains high-level insights into North America carrageenan market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America carrageenan market size, by country, 2018-2030 (US$M)
North America Carrageenan Market Outlook Share, 2022 & 2030 (US$M)
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