Portland, OR, Oct. 13, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global commercial seaweeds market generated $17.9 billion in 2021 and is estimated to hit $45.6 billion by 2031, registering a CAGR of 9.8% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $17.9 billion |
| Market Size in 2031 | $45.6 billion |
| CAGR | 9.8% |
| No. of Pages in Report | 300 |
| Segments covered | Product, Form, Application, and Region |
| Drivers | Increase in awareness about the benefits and medicinal uses of seaweeds |
| Nutritive values of seaweeds | |
| Surge in use of seaweed across a range of end-use industries | |
| Changing consumer tastes and lifestyles | |
| Opportunities | Growth of the pharmaceutical sector |
| Growing popularity of seaweed as food | |
| Restraints | High cost of seaweed cultivation |
| Availability of substitute products |
Covid-19 scenario-
- The Covid-19 outbreak had a negative impact on the growth of the global commercial seaweeds market. The implementation of lockdown and curfew procedures on a global scale had an impact on both domestic and foreign manufacture of commercial seaweeds, which hampered the market growth.
- Exporters in both developed and developing nations faced several difficulties due to the closure of international trade and borders, resulting in decreased company sales and suspension of operations.
- However, the market is recovering as the demand for healthy and safe food is increasing and the trend is expected to continue in the forthcoming years.
The report offers a detailed segmentation of the global commercial seaweeds market based on product, form, application, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
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Based on product, the red seaweeds segment accounted for nearly 90% of the overall commercial seaweeds market in 2021, and is projected to lead the trail by the end of 2031. However, the green seaweeds segment would cite the fastest CAGR of 11.4% throughout the forecast period. The report also discusses the brown seaweeds segment.
Based on form, the seaweed powder segment contributed to nearly half of the global commercial seaweeds market in 2021, and is expected to maintain its dominance through 2031. However, the seaweed liquid segment is likely to garner the fastest CAGR of 9.9% during the forecast period. The report also discusses the seaweed flakes segment.
Based on application, the food and beverage industry segment captured the largest share of around four-fifths of the global commercial seaweeds market in 2021, and is likely to exhibit a noteworthy growth during the forecast period. Nonetheless, the cosmetics and personal care segment would grow at the highest CAGR of 10.9% from 2022 to 2031. The report also analyzes the agricultural fertilizers, animal feed additives, and others segments.
Based on region, the market across Asia-Pacific contributed to around half of the total commercial seaweeds market in 2021, and is expected to maintain its dominance during the forecast period. North America, on the other hand, would grow at the fastest CAGR of 10.5% from 2022 to 2031. The other two provinces discussed in the report include Europe and LAMEA.
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The key market players analyzed in the global commercial seaweeds market report include Cargill Incorporated, CJ Cheiljedang Corporation, Corbion NV, Gimme Health Foods Inc., Irish Seaweeds, J.M. Huber Corporation, Mara Seaweed, Ocean Harvest Technology Limited, Qingdao Gather Great Ocean Algae Industry Group Co., Ltd (GGOG), Roland Foods, LLC, SeaSnax, Seasol, Seaweed & Co., Singha Corporation Co. Ltd., and Taokaenoi Food & Marketing PCL.
The report analyzes these key players of the global commercial seaweeds market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
