Identification of key drivers, restraints, opportunities, and challenges (DROC) in North America Commercial Seaweeds market and their impact on shifting market dynamics
According to the report “North America Commercial Seaweeds Market by Form (Flakes, Liquid, Powdered), by Type (Brown Seaweeds, Green Seaweeds, Red Seaweeds), by Application (Agriculture, Animal Feed, Food, Others), and by Region - Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)” published by Market Data Forecast, the North America Commercial Seaweeds Market is expected to reach USD 3.88 billion by 2021 from USD 2.31 billion in 2016, growing at a CAGR of 10.91%.
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The Commercial Seaweeds market is forecasted to show great potential over the mentioned period. The market has continued to gain momentum with the growth of economies in developing countries and leading emerging commercial seaweeds market.
Seaweed has a popular application as food in various countries all over the world, dating back as early as 4th century for its origin.
Increasing number of applications of commercial seaweeds have been a driving factor for the growth of the commercial seaweeds market. Further, other drivers include increasing seaweed harvesting and usage, emerging seaweeds as snacks, medical uses of a seaweed called spirulina, application of seaweeds in bio-refining.
The market has been facing some challenges and restraints as well, which include, natural calamities leading to decline in production as well as harmful effects of excessive use. These factors are holding back the market from its actual potential.
The North America Commercial Seaweeds market is segmented by type, form and application. The market segmentation based on type is done into green, red and brown seaweeds.
On the basis of form, the segments are powdered, flakes and liquid. Based on segmentation by application the market is categorized into agriculture, animal feed, human food and others.
On the basis of geography, the North America market is analysed under various regions namely United States and Canada.
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Some of the leading companies of the current market are:
- E.I. Dupont De Nemours and Company
- Roullier Group
- Compo Gmbh & Co. Kg
- Cargill Incorporated
- Biostadt India Limited
- Acadian Seaplants Limited
- CP Kelco
- Seasol International Pty. Ltd
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