According to the latest research study, the demand of global Commercial Seaweeds Market size & share was valued at approximately USD 4.79 Billion in 2020 and is expected to reach a value of around USD 8.62 Billion By 2028, at a compound annual growth rate (CAGR) of about 9.5% during the forecast period 2021 to 2028.
What is Commercial Seaweeds? How Much is the Seaweed Market Worth?
Seaweeds are plant-like creatures generally attached to rock or other hard bedrock in coastal areas. The thallus color is segmented into brown algae, red algae, and green algae. The existing utilization of seaweed is found in cosmetics, fertilizers, foods, and the extraction of industrial chemicals and gums. They have the prospects to be used as short and long-chain chemicals with industrial and medicinal uses. Marine algae can be used as collectors of energy, and possible valuable materials can be extracted by pyrolysis and fermentation. The prominent utilization of these plants as food is found in Asia, mainly in Korea, China, and Japan, where seaweed cultivation has emerged as the primary industry.
One of the significant sources of iodine is seaweed which is exceptionally scarce in other ingredients and food items. Further is growingly crucial to control the estrogen and estradiol levels in the human body. The usage of seaweed and its isolates intensifies satisfaction, additionally lessening the postprandial absorption levels of glucose and lipids, which assists in the formation of foods that are anti- obese. Seaweeds are taken in ingredients and food because of their properties that are anti-microbial that offer a preservative advantage for the food.
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Key Highlights of The Report
Top Market Players in the Market
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Important Questions Being Answered by The Market Report
Commercial Seaweed Market: Growth Leading Factors
The demand for commercial seaweed from the food industry globally is increasing due to the efficiency of the product and adding nutritional value to them. Due to the global relocation of the Asian population in countries like Canada, France, and the US, microalgae are used as food ingredients or put on freshly. Further, many seaweed-produced hydrocolloids enhance the stability and thickness of food products. It is additionally used to form water-soluble films or gels. The most common macroalgae extracts are Alginate, carrageenan, and agar. They are utilized as stabilizing, gelling, thickening, and emulsifying agents in several food products like jams, ice creams, bakery products, fruit juices, and so on.
The increasing awareness about the welfare of the animals has pushed the trend of turning vegan or ensuing a vegetarian diet, which has also enhanced the intake of plant-based products. Across many sectors like the cosmetics and food industry, these products are gaining popularity. The perception has also evolved that plant-based products are safer and healthier compared to animal-originated products. A good source of protein is macroalgae and is being enormously utilized to advance plant-based protein options, which has fuelled the growth of the commercial seaweeds market.
The covid-19 pandemic has impacted industry verticals because of the interim shutting down of extensive production facilities. Thus, the supply chain got disrupted, and there was a gap in the supply chain dynamics. The global commercial seaweed market has been hit due to reduced demand for overseas and domestic markets.
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Global Commercial Seaweed Market: Report Scope
Report Attribute
Details
Market Size 2020 Value
USD 4.79 billion
Market Outlook for 2028
USD 8.62 billion
Expected CAGR Growth
9.5% from 2021 – 2028
Base year
2020
Forecast period
2021 – 2028
Segments covered
By Product, By Form, By Application, By Region
Key Companies
Acadian Seaplants Limited, AtSeaNova, Beijing Leili Marine Bioindustry INC., Biostadt India Limited, BrandT Consolidated, Inc., Cargill Inc., Cascadia Seaweed Corp., Chase Organics GB Limited, COMPO, CP Kelco., Leili Group, DuPont, Gelymar SA, Indigrow Ltd., Kelp Industries PTY, Ltd., KwangcheonKim, Nantong Xinlang Seaweed & Foods Co., Ltd., Organic Irish Seaweed – Emerald Isle, Pacific Harvest, Roullier Group, Seasol International Pty. Ltd., Travena Organic Solutions Ltd., West Coast Marine Bio-Processing Corp.
Regional scope
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Customization Options
Customized purchase options are available to meet your research needs.
Commercial Seaweed Market: Key Segmentation
The red algae segment rules the market by product due to its enormous operational properties. It includes extensive amounts of vitamins and proteins that make a good alternative. It also produces carrageenan, which is used as a food source and is considerably applied in the processing of food. By form, seaweed powder dominates as powders are simple to store and transport. The procedure of transforming macroalgae extracts to powder eliminates water and assist in growing the shelf life. By application, dairy products hold a significant market share because they are used in gelling and thickening agents like cream, dessert, cheese, dairy powder, ice creams, and dairy drinks.
By region, Asia Pacific will dominate the market. In Asian countries, seaweed is used as a food source, like in Japan, the Republic of Korea, and China. It has a strong foothold and is a significant growth enabling factor for growing product demand in the region. Affirmative trends linked with the food industry activated by an enormous population are answerable to shortly pushing the regional market statistics. After the Asia Pacific, Europe is the significant region for the production and consumption of seaweed globally. European countries like Ireland, Spain, and Norway are substantial producers of seaweed in the region.
Browse the full “Commercial Seaweeds Market Share, Size, Trends, Industry Analysis Report, By Product (Brown Seaweed, Red Seaweed, Green Seaweed); By Form (Liquid, Powdered, Flakes); By Application (Agriculture, Animal Feed, Human Consumption, Others); By Region; Segment Forecast, 2021 – 2028” Report at https://www.polarismarketresearch.com/industry-analysis/commercial-seaweeds-market
The market predominantly depends on product, form, application, and region
Commercial Seaweed Market: By Product
Commercial Seaweed Market: By Form
Commercial Seaweed Market: By Application
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