The North America seaweed derivatives market was valued at US$ 328.01 Mn in 2018 and is projected to reach US$ 593.39 Mn by 2027; it is expected to grow at a CAGR of 6.8% from 2019 to 2027.
The major derivatives of seaweed include alginate, carrageenan, and agar. Alginate is mainly extracted from brown seaweed, carrageenan and agar are mainly extracted from red seaweed.
Chemical derivatives of seaweed include fatty acids, vitamins, mineral nutrients, phytoharmonics and complex polysaccharides. The major derivatives of seaweed include alginate, carrageenan, and agar. And increasing demand for organic foods will fuel the growth of the global seaweed derivatives market.
The food and beverage industry is all companies involved in the processing, packaging and distribution of raw food ingredients. This includes fresh cooked and packaged foods, alcoholic and non-alcoholic beverages.
The North America Seaweed Derivatives market is growing along with the Food and Beverages industry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.
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The latest outbreak of COVID-19 began in December 2019 in Wuhan (China) and has since spread rapidly throughout the world. The outbreak of COVID-19 has affected the economies and industries of various countries due to blockades, travel bans, and business closures.
In the region, food and beverages are one of the major industries facing the serious consequences of this outbreak in terms of supply chain disruptions, technology event cancellations, and office closures. China is a manufacturing hub and the largest raw material supplier in various industries around the world, and domestic turmoil is affecting some businesses in all other countries that rely on the manufacturing sector.
These factors are expected to offer broad growth opportunities in the Food and Beverages industry and this is expected to cause the demand for seaweed derivatives assays in the market.
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North America Seaweed Derivatives Market Segmentation
North America Seaweed Derivatives Market – By Source
North America Seaweed Derivatives Market – By Form
North America SEAWEED DERIVATIVES Market – By End Use
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