Indonesia Commercial Seaweed Market Shipment Analysis
Indonesia Commercial Seaweed Market registered a growth of 16.73% in value shipments in 2021 as compared to 2020 and a decrease of -14.48% CAGR in 2021 over a period of 2017. In Commercial Seaweed Market Indonesia is becoming more competitive as the HHI index in 2021 was 2686 while in 2017 it was 9008. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market.
Indonesia has reportedly relied more on domestic production to meet its growing demand in Commercial Seaweed Market. India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Commercial Seaweed Market in 2021 was 0.09 while in 2017 it was 0.1. Japan, China, South Korea, Singapore and Other Asia, nes were among the top players of the market in 2021, where Japan acquired the largest market share of 34.02% with a shipment value of 0.18 million USD in 2022 Japan also offered the product below the average market price thus having a competitive advantage over others In 2017 China had the largest market share of 94.86% with the shipment value of 0.95 million USD. The country was offering its product with an average price which is higher than the average market price offered in the country. Although China offers its product above the market average price, it remained at the leadership position indicating the brand value it holds in the Indonesia Commercial Seaweed Market in 2017.
