North America Seaweed Snack Market: Industry Analysis and Forecast (2024-2030)

North America Seaweed Snack Market Overview:

Seaweed snacks are seaweeds that can be eaten and used for culinary purposes. They typically contain high amounts of fiber. They may belong to one of several groups of multicellular algae: red algae, green algae, and brown algae. Seaweeds are a good source of nutrients such as proteins, vitamins, minerals, and dietary fiber. Polyphenols, polysaccharides, and sterols, as well as other bioactive molecules, are mainly responsible for the healthy properties associated with seaweed. If seaweeds are compared to terrestrial plants, they have a higher proportion of essential fatty acids such as eicosapentaenoic (EPA) and docosahexaenoic (DHA) fatty acids.

Further, the Seaweed Snack market is segmented by Type, Source, Distribution Channel, and geography. Based on the Type, the seaweed snacks market is segmented into Nori Sheets, Flakes, Bars, Chips, and Others. Based on Source, the seaweed snacks market is segmented into red, brown, and green. Based on the Distribution Channel, the Seaweed Snack Market is segmented into Hypermarkets & supermarkets, Convenience stores, Speciality stores, and others. By geography, the market covers the major countries in North America i.e., the US, Canada, and Mexico. For each segment, the market sizing and forecasts have been done based on value (in USD Million).

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North America Seaweed Snack Market Dynamics:

The government is taking initiatives for promoting the growth of the market:

Government organizations have made aggressive efforts to control the production and use of environmentally friendly products, such as eliminating the use of specific chemicals and establishing maximum consumption limits. As a result, there is a vital need to develop bio-based agrochemicals to decrease synthetic agrochemicals' harmful effects on the environment. Also, the advantages of using seaweed extracts, such as low toxicity, high specificity, and increased efficiency, have led to increased adoption of such products. As a result, there are numerous market opportunities for developing seaweed-based products in the market.

Seaweed extracts are used in a variety of industries, including food, agriculture, cosmetics, and pharmaceuticals. These seaweed extracts are used in a variety of industries. Seaweed is used in agriculture as a component in pesticides, horticulture, and fertilizers. Due to its health benefits, seaweed extract is used in the food industry to make a variety of snacks. Seaweed extracts aid in cholesterol reduction, digestion improvement, and weight loss, making them an important and effective component of a healthy diet.

Rising application from the cosmetic industry:

The increasing use of seaweed snacks in powder form in cosmetic products such as soaps, shampoo, and creams is boosting the seaweed snacks market forward. The production of liquid seaweed for use in fertilizers and pesticides and increased stress acceptance in plants are expected to drive the global seaweed snacks market to new heights. The global seaweed snacks market is expected to grow rapidly over the forecast period, owing to the increasing use of seaweed snacks in various food and beverage industries.

A significant rise in the Vegan population in the North American region:

An upsurge in the vegan population has been noticed in the global market during the past few years. The growth in the vegan population is anticipated to increase the demand for seaweed snacks. Consumers in countries such as Canada are avoiding animal products and demanding healthier and cleaner naturally prepared seaweed snacks. Around 7.5 million people in the U.S. take an animal-free diet assuming that it would keep them healthier in the future. The increase in vegan consumers is anticipated to increase the demand for various sources of seaweed snack products. Demand for products with new ingredients is also projected to rise in the future, driving the global seaweed snacks market.

North America Seaweed Snack Market Segment Analysis:

 By Type, the seaweed snacks market is segmented into Nori Sheets, Flakes, Bars, Chips, and Others. This is because the attractive price discounts along with the convenience of shopping from home are driving product sales through online channels. Amazon, Tesco PLC, Asda Stores Ltd., Sainsbury’s, and Instacart are some of the key online retailers across the globe. These factors have raised the online segment share through the forecast period.

COVID-19 Impact on North America Seaweed Snack Market:

The COVID-19 epidemic has straight-affected seaweed farmers as demand for raw materials has decreased and prices have fallen. The price of mainly exported Cottonii seaweed, used for producing carrageenan (an additive used to thicken, emulsify, and preserve foods and drinks), has declined by almost 50% since trade with the US, the biggest export market, has been disrupted since February. The participants explained how the impact of the epidemic on Indonesia’s seaweed processing industry varies depending on the size of the enterprise and the type of product they sell. Professor Jana Anggadiredja, the GQSP’s national seaweed expert, said many carrageenan processors have stopped operations since the end of March because of a sharp drop in demand from Seaweed snack markets.

The objective of the report is to present a comprehensive analysis of the North America Seaweed Snack Market to the stakeholders in the industry. The report provides trends that are most dominant in the North America Seaweed Snack Market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the North America Seaweed Snack Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

The qualitative and quantitative data provided in the North America Seaweed Snack Market report is to help understand which market segments, and regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the North America Seaweed Snack Market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the North America Seaweed Snack Market.

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals are existing, who they are, and how their product quality is in the North America Seaweed Snack Market. The report also analyses if the North America Seaweed Snack Market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly if the market is dominated by a few players, etc.

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the North America Seaweed Snack Market. Economic variables aid in the analysis of economic performance drivers that have an impact on the North America Seaweed Snack Market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the North America Seaweed Snack Market is aided by legal factors.

North America Seaweed Snack Market Scope:

North America Seaweed Snack Market Key Players:  

• Taokaenoi Food & Marketing PCL
• gimMe Health Foods Inc.
• Frito-Lay North America, Inc.
• Annie Chun’s, Inc.
• Kimnori U.S.A. Inc.
• KPOP Foods
• SeaSnax
• Ocean’s Halo
• SEAWEED MARKET OÜ
• Singha Corporation