WASHINGTON, Feb. 24, 2023 (GLOBE NEWSWIRE) -- The Global Commercial Seaweed Market is valued at USD 9.6 Billion in 2021 and is projected to reach a value of USD 10.8 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 2.1% over the forecast period 2022-2028.
Market Overview
High nutritional value and health advantages, greater usage of seaweed for hydrocolloids, and expanding demand for seaweed in end-use industries like personal care, medicines, agriculture, food and beverage, and animal feed are all factors that have contributed to the expansion.
We forecast that the green seaweed category in Commercial Seaweed market sales will account for more than 37% of total sales by 2028. Beta-carotene, which has been demonstrated to be useful in preventing cancer, is abundant in green algae. The segment growth is anticipated to accelerate during the anticipated timeframe due to the rising demand for green algae in dietary supplements in the form of capsules and tablets.
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Market Dynamics
Growing Use of Commercial Seaweed as Hydrocolloids to Drive Market Expansion
Due to its ability to effectively boost the nutritional value of food items, seaweed is increasingly in demand from the global food sector. For instance, macroalgae were previously primarily consumed in Asia; now, due to the expansion of the Asian population in nations like the U.S., France, and Canada, macroalgae are used as a culinary ingredient or are newly added. Several hydrocolloids made from seaweed are also used to boost the thickness and durability of food products. Gels and water-soluble films can also be created with it. The three most frequently used macroalgal extracts are alginate, agar, and carrageenan.
Growing Attention to Sustainability in the Environment to Promote Seaweed Production
People worldwide have become more conscious of environmental problems in recent years, which has sparked the creation of remedies to lessen environmental stress. Consumer preferences have changed significantly due to the increased knowledge of environmental welfare, fueling the need for sustainable products. A fast-growing, nutrient-rich alga that absorbs carbon dioxide and releases oxygen, macroalgae are grown sustainably. The popularity of veganism and plant-based goods that promote animal welfare is another factor contributing to the rising demand for the production of macroalgae.
Top Players in the Global Commercial Seaweed Market
- Cargill Inc. (United States)
- E.I. Du Pont de Nemours and Company (United States)
- Roullier Group (United States)
- Biostadt India Limited (India)
- Compo GmbH & Co. KG (Germany)
- Acadian Seaplants Limited (Canada)
- Gelymar SA. (Chile)
- BrandT Consolidated Inc. (United States)
- Seasol International Pty. Ltd. (Australia)
- CP Kelco (India)
- West Coast Marine Bio-Processing Corp. (Canada)
- Leili Group (China)
- Chase Organics GB Limited (United Kingdom)
- Indigrow Ltd. (United Kingdom)
- Travena Organic Solutions Ltd. (United States)
For Additional Information on Commercial Seaweed Market Players and Detail List, Download a Report PDF Brochure
Top Trends in Global Commercial Seaweed Market
- One trend that Vantage Market Research (VMR) expects to see in the Commercial Seaweed industry is increased consumption of plant-based products. The trend of being vegan or adopting a vegetarian diet has intensified due to the growing concern for animal welfare, which has increased the consumption of plant-based goods. With the growing belief that plant-based products are safer & healthier than those derived from animals, these items are becoming more and more popular in a variety of industries, including the food and cosmetics sectors.
- Another trend that VMR predicts will continue in the Commercial Seaweed industry is the rising need for drug delivery methods in the pharmaceutical industry. This industrial seaweed is employed as excipients in the pharmaceutical sector as a matrix in prolonged oral tablets, a stabilizer/carrier in the nanoparticles and microparticles system, and an extrusion aid for pellet manufacture. Commercial Seaweed also includes unique qualities, including a gelling agent and a potent negative charge.
Top Report Findings
- Based on Products, most of the Commercial Seaweed market's revenue is controlled by the green seaweed category. Since green seaweed is thought to be a particularly rich source of iodine, which also helps to boost thyroid gland health, it is anticipated that it will be the most popular choice. Additionally, it has a lot of organic beta-carotene, which can be utilized to lower the incidence of cancers like lung cancer.
- Based on Applications, most of the Commercial Seaweed market's revenue is controlled by the human consumption category. During the anticipated time range, the market is anticipated to expand rapidly. The Commercial Seaweed market has expanded due to rising populations, better eating habits among consumers, and a rise in disposable money.
- Based on Forms, most of the Commercial Seaweed market's revenue is controlled by the powdered category as it can be preserved for a longer period and is simple to utilize. The food sector makes extensive use of the powdered form.
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Recent Developments in the Global Commercial Seaweed Market
- February 2021: Cargill Inc. announced they would launch a new seaweed powder made in Gracilaria red seaweed. It is a traditional ingredient found in Europe. This powder will be launched under the WavePure ADG and named WavePure ADG 8250.
- November 2019: Nippon Steel Corporation announced a new partnership with Furuu District Fisheries Cooperative Association. This partnership will lead to the launch of a new seaweed regeneration project to promote the fisheries industry in Japan.
Human Consumption Category in Commercial Seaweed Market to Generate Over 43% Revenue
Vantage Market Research has analyzed the market for Commercial Seaweed to understand its current state and potential future growth factors. For better understanding, based on the Applications, the Commercial Seaweed market is divided into Agriculture, Animal Feed, Human Consumption, and Other Applications.
During the forecast period, the market for Commercial Seaweed is anticipated to experience the highest CAGR for the Human Consumption category. The main factors affecting market revenues in this sector include increasing population, rising disposable incomes, improved knowledge of healthy eating practices, and expanding global demand for processed food items.
On the other hand, the Animal Feed category is expected to grow significantly in the forecast period because there is a greater emphasis on increasing animal productivity. It has been demonstrated that using commercially processed sea vegetables as animal feed improves cattle health, which is predicted to drive the growth of the Commercial Seaweed market.
Asia Pacific Region in Commercial Seaweed Market to Generate More 36% Revenue
The Asia Pacific dominates the market throughout the projection period. The region's top three consumers of seaweed are Japan, China, and South Korea. China is the largest producer in the area, followed by Indonesia. In all these nations, Commercial Seaweed is one of the most common marine plant foods, with historical applications in both food and medicinal.
Browse Market Data Tables and Figures spread through 145 Pages and in-depth TOC on Commercial Seaweed Market Forecast Report (2022-2028).
Global Commercial Seaweed Market Segmentation
By Products
- Brown Seaweed
- Red Seaweed
- Green Seaweed
By Applications
- Agriculture
- Animal Feed
- Human Consumption
- Other Applications
By Forms
- Leaf
- Powdered
- Flakes
By Region
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 9.6 Billion |
| Revenue Forecast by 2028 | USD 10.8 Billion |
| CAGR | 2.1% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | Cargill Inc., E.I. Du Pont de Nemo US and Company, Roullier Group, Biostadt India Limited, Compo GmbH & Co. KG, Acadian Seaplants Limited, Gelymar SA, BrandT Consolidated Inc., Seasol International Pty. Ltd, CP Kelco, West Coast Marine Bio-Processing Corp, Leili Group, Chase Organics GB Limited, Indigrow Ltd, Travena Organic Solutions Ltd. |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
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