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North America Carrageenan Market is segmented by Type (Kappa, Iota, and Lambda); By Application (Food and Beverage, Personal Care and Cosmetics, Pharmaceutical and Nutraceutical, and Other Applications), and by Country (United States, Canada, Mexico, and Rest of North America).
North America carrageenan market is anticipated to witness a CAGR of 4.78% during the forecast period (2020-2025).
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.
|Personal Care and Cosmetics|
|Pharmaceutical and Nutraceutical|
|Rest of North America|
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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.
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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.
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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.
1.1 Study Deliverables & Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.2 By Application
5.2.1 Food and Beverage
220.127.116.11 Dairy Products
18.104.22.168 Meat and Poultry Products
5.2.2 Personal Care and Cosmetics
5.2.3 Pharmaceutical and Nutraceutical
5.2.4 Other Applications
5.3 By Geography
5.3.1 United States
5.3.4 Rest of North America
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Position Analysis
6.3 Company Profiles
6.3.1 Ingredients Solutions, Inc.
6.3.2 Cargill Inc.
6.3.3 DuPont de Nemours, Inc.
6.3.4 CP Kelco U.S., Inc.
6.3.5 Ingredion Inc
6.3.6 FMC Biopolymer
6.3.7 W Hydrocolloids, Inc.
6.3.8 Marcel Trading Corporation
6.3.9 MCPI Corporation
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject to Availability