The Latin America, Middle East and Africa Commercial Seaweed Market would witness market growth of 13.8% CAGR during the forecast period (2021-2027).
The increasing popularity and the accessibility of sushi in western nations are also driving the market. Sushi rolls have gained a lot of attraction in various countries, as an international food item, which is made up of seaweed sheets. Additionally, the increasing number of products introduced by using the various flavors and consisting of seeds & nuts are estimated to further propel the demand for seaweed across the market.
Due to the inclusion of minerals such as high iodine, calcium, magnesium, iron, vitamins, antioxidants, and fiber, seaweeds are commonly recognized as a healthy food. Seaweeds are used in a variety of processed food products, including sausages, bread, creams, cheese, dairy drinks, and chocolates, as a thickening and gelling agent. In addition, the increasing demand for healthy food additives would increase the demand for seaweed across the market.
According to the National Library of Medicine, Cancer has a high prevalence in Africa and is one of the major causes of death across this country. In addition, according to the data shared by the Frontiers of Oncology, In Northern Africa and central Africa, the cases of cancer have been doubled between 2002 and 2018. In Northern Africa, cases were recorded 8.85/100,00 in 2018, while in central Africa, cases were recorded 6.35/100,000 in the same year. Moreover, this number is expected to increase in the future.
Additionally, seaweed comprises the ability to prevent the occurrence of cancer in the human body. According to the National Library of Medicines, various studies have found that seaweeds can function as anti-cancer agents. Further, numerous seaweed-derived substances can be effective through multiple mechanisms such as the inhibition of cancer cell growth, invasiveness and metastasis as well as by the induction of apoptosis in cancer cells.
The Brazil market dominated the LAMEA Commercial Seaweed Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $247.6 million by 2027. The Argentina market is expected to grow at a CAGR of 14.4% during (2021 - 2027). Additionally, The UAE market would experience a CAGR of 13.5% during (2021 - 2027).
Based on Product, the market is segmented into Red Seaweed, Brown Seaweed, and Green Seaweed. Based on Application, the market is segmented into Human Consumption, Agriculture Animal Feed, and Others. Based on Form, the market is segmented into Liquid, Powdered, and Flakes. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Commercial Seaweed Market is Predict to reach $31 Billion by 2027, at a CAGR of 10.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include DuPont de Nemours, Inc., Groupe Roullier, Brandt, Inc., Acadian Seaplants Limited, Indigrow Ltd., COMPO Group, Seasol International Pty Ltd., Gelymar SA (Algina Inversiones SA), Cargill Corporation, and Biostadt India Ltd.
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