Commercial Seaweed Market Exploring 2030: Market Size, Share, and Growth
Global Commercial Seaweed Market size is projected to reach USD 27.07 Billion by 2028 from an estimated USD 16.23 Billion in 2021, growing at a CAGR of 7.58%.
The term "seaweed" describes a variety of multicellular marine algae species. It is a versatile product that is primarily used for human consumption as food, followed by animal feed, cosmetics, agriculture, and other uses. In essence, seaweed is harvested in the wild, but commercial seaweed farming has enhanced its availability. There are three types of seaweed: brown, red, and green. In addition, the market is expected to rise during the projected period as a result of the rapid expansion in seaweed cultivation due to a shortage of natural resources.
Furthermore, over 35 countries in the Northern and Southern Hemispheres engage in commercial harvesting in waters that range from cold to moderate to tropical. The FAO Fisheries Technical Paper estimates that the overall annual value of output is around US$ 6 billion, of which US$ 5 billion is attributed to food products for human consumption and US$ 8 million to the worldwide seaweed industry's yearly use of wet seaweed. Approximately 1 million tons of wet seaweed are collected and processed worldwide, yielding 55,000 tons of hydrocolloids with a market value of nearly US$ 600 million.
Players Covered in Commercial Seaweed market are:
DowDuPont Inc., Cargill Incorporated, Beijing Leili Agricultural Co. Ltd., Organic Irish Seaweed Emerald Isle, Seaweed Solutions AS, Nantong Xinlang Seaweeds and Foods Co. Ltd., CP Kelco US Inc., Groupe Roullier, J.M. Huber, Kerry Group Plc., Ocean Harvest Technology Ltd., Gelymer S.A., Corbion N.V., Green Ocean Farming UK and other major players.
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Introspective Market Research provide comprehensive market research studies, delivering valuable insights and strategic guidance to businesses worldwide. Our operations are driven by accurate analysis and extensive coverage of all the areas to offer reliable reports.
Our study encompasses major growth determinants and drivers, along with extensive segmentation areas. Through in-depth analysis of supply and sales channels, including upstream and downstream fundamentals, we present a complete market ecosystem.
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Drivers:
Commercial seaweed is required to fulfil the consumer diet demand and suppress a certain disease's risk. In addition, commercial seaweed helps to provide adequate yield quality and quantity in the agriculture sector and fulfil the rising demand for hydrocolloids in food & beverages industry which leads to fueled market growth during forecast period.
Restraints:
High-cost cultivation process for seaweed, in order to their water management, nutrients, chemicals, water pollution and harvesting process are factors responsible for hindering the market growth during forecast period. In addition, environmental risk related with seaweed cultivation are expected to restraint market growth.
Opportunities:
Rising the health concern among the population about the seaweed and their product range with other opportunities will expected to growth in projected period. For instance, in January 2019, Algaia started a new variety of seaweed-based texturing solutions named VegAlg, developed to provide shape and structure, and add juiciness to plant-based burgers. This latest product launch would build up its market position in the food industry.
Segmentation Analysis of the Commercial Seaweed Market
By Type
Red
Brown
Green
By Form
Liquid
Powdered
Flakes
By Application
Agriculture
Animal Feed
Human Food
Other Applications
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Regional Analysis: Geographically, the seaweed market for commercial purposes is divided into Latin America, the Middle East, Africa, Asia Pacific, and North America. have the largest market share in North America, where rising seaweed cultivation, rising end-user demand, and the popularity of plant-based goods are all driving the industry's expansion. Asia-Pacific is the region with the largest share of the commercial seaweed market. This is due to a number of factors, including low labor costs, sufficient availability of seaweed raw materials, and the traditional adoption of commercial types of algae in China, Japan, and Vietnam. In Europe region anticipated to show steady growth as compare the other regions. The demand for high quality natural plant-based product will create an opportunity in upcoming years. Rising investment by manufacturers and R&D activities driving the commercial seaweed market growth.
By Region
North America (US, Canada, Mexico)
Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
Asi
Global Commercial Seaweed Market size is projected to reach USD 27.07 Billion by 2028 from an estimated USD 16.23 Billion in 2021, growing at a CAGR of 7.58%.
The term "seaweed" describes a variety of multicellular marine algae species. It is a versatile product that is primarily used for human consumption as food, followed by animal feed, cosmetics, agriculture, and other uses. In essence, seaweed is harvested in the wild, but commercial seaweed farming has enhanced its availability. There are three types of seaweed: brown, red, and green. In addition, the market is expected to rise during the projected period as a result of the rapid expansion in seaweed cultivation due to a shortage of natural resources.
Furthermore, over 35 countries in the Northern and Southern Hemispheres engage in commercial harvesting in waters that range from cold to moderate to tropical. The FAO Fisheries Technical Paper estimates that the overall annual value of output is around US$ 6 billion, of which US$ 5 billion is attributed to food products for human consumption and US$ 8 million to the worldwide seaweed industry's yearly use of wet seaweed. Approximately 1 million tons of wet seaweed are collected and processed worldwide, yielding 55,000 tons of hydrocolloids with a market value of nearly US$ 600 million.
Players Covered in Commercial Seaweed market are:
DowDuPont Inc., Cargill Incorporated, Beijing Leili Agricultural Co. Ltd., Organic Irish Seaweed Emerald Isle, Seaweed Solutions AS, Nantong Xinlang Seaweeds and Foods Co. Ltd., CP Kelco US Inc., Groupe Roullier, J.M. Huber, Kerry Group Plc., Ocean Harvest Technology Ltd., Gelymer S.A., Corbion N.V., Green Ocean Farming UK and other major players.
Free Sample Report: Instant Access!
Introspective Market Research provide comprehensive market research studies, delivering valuable insights and strategic guidance to businesses worldwide. Our operations are driven by accurate analysis and extensive coverage of all the areas to offer reliable reports.
Our study encompasses major growth determinants and drivers, along with extensive segmentation areas. Through in-depth analysis of supply and sales channels, including upstream and downstream fundamentals, we present a complete market ecosystem.
Discount on the Research Report@
Drivers:
Commercial seaweed is required to fulfil the consumer diet demand and suppress a certain disease's risk. In addition, commercial seaweed helps to provide adequate yield quality and quantity in the agriculture sector and fulfil the rising demand for hydrocolloids in food & beverages industry which leads to fueled market growth during forecast period.
Restraints:
High-cost cultivation process for seaweed, in order to their water management, nutrients, chemicals, water pollution and harvesting process are factors responsible for hindering the market growth during forecast period. In addition, environmental risk related with seaweed cultivation are expected to restraint market growth.
Opportunities:
Rising the health concern among the population about the seaweed and their product range with other opportunities will expected to growth in projected period. For instance, in January 2019, Algaia started a new variety of seaweed-based texturing solutions named VegAlg, developed to provide shape and structure, and add juiciness to plant-based burgers. This latest product launch would build up its market position in the food industry.
Segmentation Analysis of the Commercial Seaweed Market
By Type
Red
Brown
Green
By Form
Liquid
Powdered
Flakes
By Application
Agriculture
Animal Feed
Human Food
Other Applications
Personalize Your Report - We're Ready!
Regional Analysis: Geographically, the seaweed market for commercial purposes is divided into Latin America, the Middle East, Africa, Asia Pacific, and North America. have the largest market share in North America, where rising seaweed cultivation, rising end-user demand, and the popularity of plant-based goods are all driving the industry's expansion. Asia-Pacific is the region with the largest share of the commercial seaweed market. This is due to a number of factors, including low labor costs, sufficient availability of seaweed raw materials, and the traditional adoption of commercial types of algae in China, Japan, and Vietnam. In Europe region anticipated to show steady growth as compare the other regions. The demand for high quality natural plant-based product will create an opportunity in upcoming years. Rising investment by manufacturers and R&D activities driving the commercial seaweed market growth.
By Region
North America (US, Canada, Mexico)
Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
Asi
10 months ago
