According to the report, Latin America Carrageenan Market was worth USD 88.8 million in 2016 and estimated to be growing at a CAGR of 5.9%, to reach USD 118.27 million by 2021.

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For centuries, carrageenan has been used all over the region of which eatable species were the first. Advancement of their uses was preferred by their set accessibility and closeness to centers of human settlement, typically coastal areas. With human progress and discoveries, other species were also found to yield medicinal, pharmaceutical, cosmetic, industrial and agricultural use.

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One of the key drivers of the food grade carrageenan market is the increasing demand of treated foods. With growing awareness about the constituents of processed foods, the demand for organic ingredients is also on escalation. Other very significant factor for the progress of carrageenan market is the multi functionality of the product which substitutes a lot of other products used in processed foods. Lack of awareness in this region is obstructing the market growth.

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 Market Segmentation:

 Based on Type:                       

Kappa
Lota
Lambda
Based on Application:                          

Food Industry
Dairy
Meat
Beverages
Pet Food
Pharmaceutical Industry
Cosmetics Industry
Based on Grade:                    

Refined Carrageenan
Semi Refined Carrageenan
Based on Seaweed Source:                     

Gigartina
Chondrus
Iridaea
Eucheuma
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Geographically the market is segmented into Mexico, Brazil and Argentina. Brazil having the highest demand for food products is leading the carrageenan market for Latin America region.

The major players in the food grade carrageenan industry are AEP Colloids, Shemberg Marketing Corporation, Ingredients Solutions Inc., Gelymar SA, Soriano SA, Marcel Trading Corporation, Danisco A/S, Scalzo Food Industries, Altrafine Gums, TIC Gums Incorporation, Gum Technology Corporation, DuPont (U.S.), Cargill (U.S.), Kerry Group (Ireland), CP Kelco (U.S.), Ashland Inc (U.S.), Ingredion (U.S.), TIC Gums (U.S.) and Tate & Lyle (U.K.).

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