Latin America Hydrocolloids Market Size & Outlook
Latin America hydrocolloids market, 2016-2030 (US$M)
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Latin America hydrocolloids market highlights
- The Latin America hydrocolloids market generated a revenue of USD 946.1 million in 2022.
- The market is expected to grow at a CAGR of 6.2% from 2023 to 2030.
- In terms of segment, gelatin was the largest revenue generating product in 2022.
- Gelatin is the most lucrative product 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 946.1 million |
| Market revenue in 2030 | USD 1,528.7 million |
| Growth rate | 6.2% (CAGR from 2022 to 2030) |
| Largest segment | Gelatin |
| Fastest growing segment | Gelatin |
| Historical data covered | 2016 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Gelatin, Xanthan Gum, Carrageenan, Alginates, Pectin, Guar gum, Gum arabic, Carboxy Methyl Cellulose, Agar, Locust Bean Gum |
| Key market players worldwide | DuPont de Nemours Inc, Palsgaard, Ingredion Inc, Kerry Group PLC Class A, BASF, Ashland Inc, CP Kelco, Glanbia PLC, Darling Ingredients Inc, Tate & Lyle PLC, Cargill, Fuerst Day Lawson, Koninklijke DSM NV, Archer-Daniels Midland Co |
Other key industry trends
- In terms of revenue, Latin America region accounted for 8.4% of the global hydrocolloids market in 2022.
- Globally, Asia Pacific 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 5,461.1 million by 2030.
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Hydrocolloids Market Scope
Hydrocolloids Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America hydrocolloids 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 hydrocolloids market will help companies and investors design strategic landscapes.
Gelatin was the largest segment with a revenue share of 31.11% in 2022. Horizon Databook has segmented the Latin America hydrocolloids market based on gelatin, xanthan gum, carrageenan, alginates, pectin, guar gum, gum arabic, carboxy methyl cellulose, agar, locust bean gum covering the revenue growth of each sub-segment from 2016 to 2030.
The product demand in Latin America is primarily driven by Brazil and Mexico, which are the major countries for food & beverage and personal care & cosmetics market. Cosmetics and toiletries sectors in this region are witnessing a strong product demand owing to increasing awareness among consumers regarding health, beauty, and hygiene.
The region is also characterized by substantial foreign funding for its emerging economies such as Chile, Brazil, and Argentina. Brazil is a significant consumer of food & beverages. Ascending consumption of organic food & beverage products in the country is luring hydrocolloid manufacturing companies to focus on food & beverage application.
The growth of the key end-use industries along with augmenting economic & industrial activities is projected to drive hydrocolloids market in Latin America over the next eight years.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America hydrocolloids market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America hydrocolloids market from 2016 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America hydrocolloids market size, by country, 2016-2030 (US$M)
Latin America Hydrocolloids Market Outlook Share, 2022 & 2030 (US$M)
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