North America Carrageenan Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.78 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Carrageenan Market Analysis
North America carrageenan market is anticipated to witness a CAGR of 4.78% during the forecast period (2020-2025).
- The market is mainly driven by the increasing demand for natural ingredients in processed foods and the high consumption of meat and poultry in the region.
- Kappa type holds the majority share among all carrageenan types due to its extensive application in the food industry, wherein it functions as a bodying agent, stabilizer, and emulsifier in foods like ice cream, cheese, puddings, and chocolate. Iota is mostly used in ready-to-eat meals.
- The food and beverage segment leads the carrageenan market among the application categories. Common food industries incorporating the ingredient include dairy, meat, beverages, etc.
North America Carrageenan Market Trends
This section covers the major market trends shaping the North America Carrageenan Market according to our research experts:
Pharmaceutical Sector is Progressing at a Rapid Pace
Carrageenan is a polysaccharide and is gaining popularity in the pharmaceutical field for specific gelling, thickening, and stabilizing properties. Its abilities to stabilize emulsions for insoluble drug preparations and shelf life elongation of antibiotic suspensions are driving its use in the medicinal field. Iota carrageenan is extensively used in pharmaceutical applications due to its ability to form transparent, elastic gels with thixotropic properties.
The World Health Organization is promoting the development of carrageenan, due to the lack of effective microbicides feasible in the prevention of HIV infections. The Joint FAO/WHO Expert Committee on Food Additives (JECFA) completed an in-depth review of the science related to the safety of carrageenan and found it to be safe for use in infant formula, including the formula for special medical purposes. Thus, considering the positives, the market of carrageenan is likely to experience good progress in the near future, in the field of pharmaceuticals.
United States is the Largest Market for Carrageenan in the Region
The demand for fortified foods and beverages market was witnessed to have an increasing trend owing to the rising health consciousness among the consumers which is, in turn, increasing the demand for natural ingredients. Moreover, the fast-moving lifestyle of the country has increased the demand for ready-to-eat foods that incorporate Iota carrageenan. Carrageenan is used in the United States as a food additive in a wide range of processed foods as well, including dairy products, water-based foods, meat products, beverages, condiments, infant formula, and pet food. The major players in the country market are Ingredion Inc., Ingredients Solutions Inc., W Hydrocolloids, DuPont, FMC Corp., and Cargill Inc.
North America Carrageenan Industry Overview
The North America carrageenan market is fragmented, owing to the presence of large regional and domestic players in the different countries of the region. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as major strategic approaches adopted by the leading companies to boost their brand presence among consumers. The global giants are expanding their businesses by setting up new plants or by increasing the capacity of the existing ones to cater to the inflated demand in the region for different carrageenan ingredients. Moreover, Mexico poses a major opportunity for the industry with rapid industrialization in the country.
North America Carrageenan Market Leaders
Ingredients Solutions, Inc.
Cargill Inc.
DuPont de Nemours, Inc.
Ingredion Inc.
W Hydrocolloids, Inc.
*Disclaimer: Major Players sorted in no particular order
North America Carrageenan Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables & Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Type
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5.1.1 Kappa
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5.1.2 Iota
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5.1.3 Lambda
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5.2 By Application
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5.2.1 Food and Beverage
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5.2.1.1 Dairy Products
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5.2.1.2 Meat and Poultry Products
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5.2.1.3 Beverages
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5.2.2 Personal Care and Cosmetics
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5.2.3 Pharmaceutical and Nutraceutical
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5.2.4 Other Applications
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5.3 By Geography
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5.3.1 United States
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5.3.2 Canada
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5.3.3 Mexico
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5.3.4 Rest of North America
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6. COMPETITIVE LANDSCAPE
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6.1 Most Adopted Strategies
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6.2 Market Position Analysis
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6.3 Company Profiles
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6.3.1 Ingredients Solutions, Inc.
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6.3.2 Cargill Inc.
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6.3.3 DuPont de Nemours, Inc.
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6.3.4 CP Kelco U.S., Inc.
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6.3.5 Ingredion Inc
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6.3.6 FMC Biopolymer
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6.3.7 W Hydrocolloids, Inc.
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6.3.8 Marcel Trading Corporation
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6.3.9 MCPI Corporation
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
North America Carrageenan Industry Segmentation
North America carrageenan market is segmented by type into Kappa, Iota, and Lambda. By application, the market is classified as food and beverage, personal care and cosmetics, pharmaceutical and nutraceutical, and other applications. The Food and Beverage category is further segmented into dairy products, meat and poultry products, and beverages. The market studied is also diversified by country into the United States, Canada, Mexico, and the Rest of North America.
| By Type | |
| Kappa | |
| Iota | |
| Lambda |
| By Application | |||||
| |||||
| Personal Care and Cosmetics | |||||
| Pharmaceutical and Nutraceutical | |||||
| Other Applications |
| By Geography | |
| United States | |
| Canada | |
| Mexico | |
| Rest of North America |
North America Carrageenan Market Research FAQs
What is the current North America Carrageenan Market size?
The North America Carrageenan Market is projected to register a CAGR of 4.78% during the forecast period (2024-2029)
Who are the key players in North America Carrageenan Market?
Ingredients Solutions, Inc. , Cargill Inc., DuPont de Nemours, Inc., Ingredion Inc. and W Hydrocolloids, Inc. are the major companies operating in the North America Carrageenan Market.
What years does this North America Carrageenan Market cover?
The report covers the North America Carrageenan Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Carrageenan Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Carrageenan in North America Industry Report
Statistics for the 2024 Carrageenan in North America market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Carrageenan in North America analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
