North America Carrageenan Market - Growth, Trends, and Forecast (2018 - 2023)

  • ID: 4544694
  • Report
  • Region: North America, United States
  • 100 pages
  • Mordor Intelligence
UP TO OFF
until Dec 31st 2018
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FEATURED COMPANIES

  • CP Kelco
  • FMC Corp
  • Marcle Carrageenan
  • MCPI Corporation
  • SELT- MG
  • W Group Inc.
  • MORE
Market Insights

The North America carrageenan market is anticipated to register a CAGR of about 4.78% during 2018-2023 (the forecast period). The demand for carrageenan has decreased, as the consumers have shifted to alternatives, like SRC Grade food and RC Gel pressed products

Market Dynamics

With the increasing consumption of processed food, North America has been witnessing an increase in the demand for organic certified products, which is driving the carrageenan market in the region. Functional and health benefits associated with carrageenan, such as its role as stabilizer, thicker, texturing, and gelling agent, are another factors fueling up the consumption of carrageenan in North America. The accessibility of alternatives, such as agar, has slowed down the carrageenan market growth in the region. Also, the negative image and surrounding controversies, regarding carrageenan and its usage in organic food, is affecting the market space in the region.

Market Segmentation

The commonly used sources in carrageenan are gigartina, chondrus, iridaea, eucheuma. Carrageenan is used in the food industry applications, such as dairy and meat products, pharmaceuticals and cosmetic industry. By type, Kappa is the most used carrageenan, as it acts as a stabilizer and emulsifier in cheese, chocolate, ice cream, and puddings. Lota is used for ready-to-eat meals while Lambda is used for whipped cream. The food grade carrageenan is often mentioned as E407 or E407a in processed food ingredients, which means that it has processed seaweed. In a few products, carrageenan is mentioned as a dietary fiber.

Regional Analysis

The United States, Canada, and Mexico contribute to the major shares of the North America carrageenan market. North America majorly imports carrageenan from China, the Philippines, and Indonesia, due to the easy availability of seaweeds.

Major players - ACCEL CARRAGEENAN CORPORATION, CP KELCO, FMC CORP, INA FOOD INDUSTRY CO. LTD., MARCLE CARRAGEENAN, MCPI CORPORATION, QUEST INTERNATIONAL PHILIPPINES CORP., SEATECH CARRAGEENAN COMPANY, SELT- MG, TBK MANUFACTURING CORPORATION, W GROUP INC., ZAMBOANGA MANUFACTURING CORP, among others.

Reasons to Purchase this Report
  • Analyzing outlook of the market with the recent trends and Porters five forces analysis
  • Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
  • Market segmentation analysis, including qualitative & quantitative research incorporating the impact of economic & non-economic aspects
  • Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market
  • Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet (in excel)
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Note: Product cover images may vary from those shown
2 of 5

FEATURED COMPANIES

  • CP Kelco
  • FMC Corp
  • Marcle Carrageenan
  • MCPI Corporation
  • SELT- MG
  • W Group Inc.
  • MORE
1. Introduction
1.1 Research Methodology
1.2 Definition of the Market
1.3 Report Description

2. Executive Summary

3. Market Analysis
3.1 Seaweed Industry Trend
3.2 Threshold matter of the Industry - Demand supply imbalance of raw material

4. Market Dynamics
4.1 Drivers
4.1.1 Growth in consumption of processed food
4.1.2 Growth in demand from pharmaceutical industry
4.1.3 Increased consumption of low fat meat products
4.1.4 Increasing preference for Carrageenan in Cosmetic products
4.2 Constraints
4.2.1 Public fears over Health Issues - Links to GI Tract Inflammation
4.3 Porters Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Degree of Competition

5. Market Segmentation
5.1 By Types
5.1.1 Kappa
5.1.2 Lota
5.1.3 Lambda
5.2 By Application
5.2.1 Food Industry
5.2.1.1 Dairy
5.2.1.2 Meat
5.2.1.3 Beverages
5.2.1.4 Pet Food
5.2.1.5 Others
5.2.2 Pharmaceutical Industry
5.2.3 Cosmetics Industry
5.2.4 Others
5.3 By Grade
5.3.1 Refined Carrageenan (E-407)
5.3.2 Semi Refined Carrageenan (E-407a)
5.4 By Seaweed Source
5.4.1 Gigartina
5.4.2 Chondrus
5.4.3 Iridaea
5.4.4 Eucheuma
5.5 By Country
5.5.1 US
5.5.2 Canada
5.5.3 Mexico
5.5.4 Rest of North America

6. Competitive Landscape

7. Company Profiles
7.1 ACCEL Carrageenan Corporation
7.2 CP Kelco
7.3 FMC Corp
7.4 Ina Food Industry Co. Ltd.
7.5 Marcle Carrageenan
MCPI Corporation
Quest International Philippines Corp.
Seatech Carrageenan Company
SELT- MG
TBK Manufacturing Corporation
W Group Inc.
Zamboanga Manufacturing Corp

8. Appendix
8.1 Disclaimer
Note: Product cover images may vary from those shown
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  • ACCEL Carrageenan Corporation
  • CP Kelco
  • FMC Corp
  • Ina Food Industry Co. Ltd.
  • Marcle Carrageenan
  • MCPI Corporation
  • Quest International Philippines Corp.
  • Seatech Carrageenan Company
  • SELT- MG
  • TBK Manufacturing Corporation
  • W Group Inc.
  • Zamboanga Manufacturing Corp
Note: Product cover images may vary from those shown
5 of 5
Note: Product cover images may vary from those shown
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