Latin America Carrageenan Market Size & Outlook, 2022-2030
Latin America carrageenan market, 2018-2030 (US$M)
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Latin America carrageenan market highlights
- The Latin America carrageenan market generated a revenue of USD 68.4 million in 2022.
- The market is expected to grow at a CAGR of 5.8% from 2023 to 2030.
- In terms of segment, semi-refined was the largest revenue generating processing technology in 2022.
- Gel Press is the most lucrative processing technology segment registering the fastest growth during the forecast period.
- Country-wise, Mexico is expected to register the highest CAGR from 2023 to 2030.
Latin America data book summary
| Market revenue in 2022 | USD 68.4 million |
| Market revenue in 2030 | USD 107.1 million |
| Growth rate | 5.8% (CAGR from 2022 to 2030) |
| Largest segment | Semi-refined |
| Fastest growing segment | Gel Press |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Alcohol Precipitation, Gel Press, Semi-Refined |
| Key market players worldwide | DuPont de Nemours Inc, Ingredion Inc, Ashland Inc, CP Kelco, Cargill, 374Water Inc, Accell, Bluglass Ltd, MGP Ingredients Inc, Anglo-Eastern Plantations PLC, Trailbreaker Resources Ltd, Tate & Lyle PLC |
Other key industry trends
- In terms of revenue, Latin America region accounted for 7.9% of the global carrageenan market in 2022.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 388.7 million by 2030.
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Carrageenan Market Scope
Carrageenan Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America carrageenan market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to carrageenan market will help companies and investors design strategic landscapes.
Semi-refined was the largest segment with a revenue share of 51.9% in 2022. Horizon Databook has segmented the Latin America carrageenan market based on alcohol precipitation, gel press, semi-refined covering the revenue growth of each sub-segment from 2018 to 2030.
The product demand in Latin America is primarily driven by Brazil, which is one of the major consumers of food & beverage and personal care & cosmetics products in the region. Cosmetics and toiletries sectors are witnessing a strong product demand owing to increasing awareness among consumers regarding health, beauty, and hygiene.
Furthermore, substantial investment in the emerging economies of the regions including Chile, Brazil, and Argentina owing increasing market penetration is expected to positively impact growth over the forecast period.
The major trend influencing the industry is the consumer inclination towards ‘clean label’ and natural ingredients. Latin American consumers are increasingly favoring parabens free, sulphate free, petrolatum free, silicone free products as they look to sustain hair and body health through chemical free formulas.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America carrageenan market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America carrageenan market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America carrageenan market size, by country, 2018-2030 (US$M)
Latin America Carrageenan Market Outlook Share, 2022 & 2030 (US$M)
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