(Food-Beverage-News.Com, October 04, 2017 ) According to the report Latin 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 (20162021) published by Market Data Forecast, The Latin America Commercial Seaweeds Market had a market value of USD 1.39 billion in 2016 and is forecasted to exhibit a CAGR of 9.93% and reach USD 2.23 billion by 2021.
The Latin America Commercial Seaweeds market is predicted to showcase huge potential in the forecasting period. The market has continued to gain momentum with developing economies in the emerging countries all across the world, leading to the market seeking interest from various companies. Seaweed has a popular application as food in various countries all over the world, dating back as early as 4th century for its origin. Seaweeds are generally of three types, namely brown, green and red seaweeds, each being different based on their respective pigmentation.
Rising number of applications of commercial seaweeds has been a driving factor for the growth of the commercial seaweeds market. Apart from this, other drivers include medical uses of seaweed called spirulina, increasing seaweed harvesting and usage, application of seaweeds in bio-refining, emerging seaweeds as snacks. The market faces some restraints and challenges as well, which include, natural calamities leading to decline in production and harmful effects of excessive use. These factors have been holding down the market from its full potential.
The Latin America Commercial Seaweeds market is broadly classified on the basis of form, type and application. Based on form, the segments include liquid, flakes and powdered. The segmentation on the basis of type is done under green seaweeds, brown seaweeds and red seaweeds. On the basis of application, the market is categorized into animal feed, agriculture, food and other applications. On the basis of geography, the Latin America market is analysed under various regions namely Brazil, Argentina, Mexico and rest of Latin America.
Among various big companies in the Latin America Commercial Seaweeds Market, the major ones are: Cargill Incorporated CP Kelco Roullier Group Biostadt India Limited Compo Gmbh & Co. Kg Acadian Seaplants Limited Brandt Gelymar E.I. Dupont De Nemours and Company Seasol International Pty. Ltd.
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