Latin America Commercial Seaweed Market

Latin America Commercial Seaweed Market Size, Growth, Trends and Forecast:

Latin America Commercial Seaweed Market was worth USD xxx billion in 2021 and estimated to be growing at a CAGR of xxx%, to reach USD xxx billion by 2026. Seaweed is the collective name given to the plethora of species of macroscopic, multicellular marine algae present in the world’s oceans. The broad categorization is on the basis of colour and they are segmented as red, brown and green algae.

Commercial Seaweed has many applications in human food, pharmaceutical productions, cosmetics, animal feed, agricultural production, alternative fuel source and management of waste among others. The figures in recent years show that Indonesia is the world’s largest seaweed producer with the Philippines coming a close second. In more specific applications, alginates are commonly used in wound dressings, and production of dental moulds in the medical field. Also applications in microbiology research are found for agar — a plant-based goo similar to gelatin and made from seaweed — is extensively used as culture medium.

Drivers and Restraints of Latin America Commercial Seaweed Market:

The growth of the Commercial Seaweed market is mainly driven by increase in investments from several multinational manufacturers, and extensive R&D initiatives have been taken for exploring the applications of seaweeds in several fields. Seaweeds are also used on a large scale for human consumption due to their high nutritive value and applications of seaweed in Chinese, Japanese, and Korean cuisines is quite popular providing additional impetus for the market growth. As for the restraints of the market, the high costs as well as the fact that the market remains a specialty sector are the main problems faced by the industry.

Latin America Commercial Seaweed Market Segmentation:

Latin America Commercial Seaweed Market – By Applications:

• Agriculture

• Animal Feed
• Human Feed
• Other

Latin America Commercial Seaweed Market – By Type:

• Brown
• Red
• Green Seaweed

Latin America Commercial Seaweed Market – By Form:

• Liquid
• Powdered
• Flakes

Geographical Analysis:

Based on geography, the Latin America market is divided into Argentina, Brazil and Mexico. The Latin American region is one that offers immense scope for development in the forecast years as is evident from the high growth rate of the region. Inspite of having only a minor market share, the CAGR of the region is the second highest globally only behind Asia-Pacific. This market is one that shows promise in the coming years.

Key Players:

The Commercial Seaweed market is highly competitive with a large number of players. Key market players dominating the market with their products are Cargill, Incorporated. (U.S.), Roullier Group (France), E. I. du Pont de Nemours and Company (U.S.), Gelymar SA (Chile), Biostadt India Limited (India), Acadian Seaplants Limited (Canada), Compo GmbH (Germany), CP Kelco (U.S.), and Seasol International Pty. Ltd. (Australia).