New York, Dec. 08, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Seaweed Cultivation Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06371388/?utm_source=GNW
, Qingdao Gather Great Ocean Algae Industry Group Co.LTD., Gelymar SA, Leili Group, AtSeaNova , Seasol International, Mara Seaweed, Pacific Harvest, Maine Fresh Sea Farm, and Maine Coast Sea Vegetables.
The global seaweed cultivation market is expected to grow from $15.75 billion in 2021 to $17.65 billion in 2022 at a compound annual growth rate (CAGR) of 12.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The seaweed cultivation market is expected to grow to $27.94 billion in 2026 at a compound annual growth rate (CAGR) of 12.2%.
The seaweed cultivation market consists of sales of seaweed cultivation products by entities (organizations, sole traders, and partnerships) that are used to grow seaweeds for direct consumption, either as food or for medicinal purposes. Seaweed cultivation refers to the practice of cultivating and harvesting seaweed either from naturally growing seaweed or from cultivated crops.
The types of seaweed cultivation are red seaweeds, brown seaweeds, and green seaweeds.Red seaweeds refer to the oldest and largest group of algae, and occur mainly in protected shallow waters, often attaching themselves to stones, shells, and eelgrass by their holdfast.
Seaweed is available in different forms such as seaweed flakes, seaweed powder, liquid seaweed, and seaweed sheets.The methods of harvesting include aquaculture and wild harvesting.
The various applications include the animal feed industry, agriculture, pharmaceuticals, and other application.
Asia Pacific was the largest region in the seaweed cultivation market in 2021. The regions covered in seaweed cultivation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rise in seaweed farming practices is expected to propel the growth of the seaweed cultivation market going forward.Seaweed farming refers to a cost-effective method of harvesting that, when paired with ease of handling and technical developments, is encouraging individuals to think about it as a career option worldwide.
Seaweed cultivation helps seaweed farming practices by raising the standard of living for coastal residents and encouraging the use of marine and coastal resources in their daily lives.For instance, according to the Food and Agriculture Organization of the United Nations, an Italy-based specialized agency of the United Nations that leads international efforts to defeat hunger and improve nutrition and food security, in 2019, algae cultivation, measured in wet weight, contributed nearly 30% of the 120 million tonnes of world aquaculture production, and red seaweeds and brown seaweeds were, respectively, the second-and third-largest species groups in global aquaculture.
Therefore, the rise in seaweed farming practices is driving the growth of the seaweed cultivation market.
Technological advancements are a key trend gaining popularity in the seaweed cultivation market.Seaweed farming is a labor-intensive procedure that causes a company’s operating costs to increase.
As a result, several companies are spending money on technologies like robot harvesters and direct seeding to enhance seaweed farming and track seaweed biomass, businesses are also moving forward with the application of cutting-edge technologies like machine learning, IoT (Internet of Things), and artificial intelligence.For instance, in July 2021, Sea6 Energy, an India-based seaweed company, constructed an automated technology called a sea combine that reduces the labor-intensiveness of seaweed production.
The technique developed by Sea6 is intended to enable the expansion of seaweed farming, which is an essential step before seaweed is widely used as a biofuel.
In September 2020, W Hydrocolloids, Inc., a Philippines-based food ingredients company, acquired Cargill’s stake in Philippine Bio-Industries, Inc. With this acquisition, W Hydrocolloids, Inc. acquired PBI’s fully automated refined carrageenan efficiency, which delivers carrageenan and carrageenan blends. Additionally, in order to service clients worldwide, businesses are concentrating on obtaining more quality certifications across numerous areas and employing rigorous product testing techniques. Philippine Bio-Industries Inc. is a Philippines-based company that operates a seaweed-producing facility.
The countries covered in the seaweed cultivation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The seaweed cultivation market research report is one of a series of new reports that provides seaweed cultivation market statistics, including seaweed cultivation industry global market size, regional shares, competitors with a seaweed cultivation market share, detailed seaweed cultivation market segments, market trends and opportunities, and any further data you may need to thrive in the seaweed cultivation industry. This seaweed cultivation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06371388/?utm_source=GNW
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