Commercial Seaweed - Global Market Outlook (2020-2028)
According to Stratistics MRC, the Global Commercial Seaweed Market is accounted for $6.68 billion in 2020 and is expected to reach $15.50 billion by 2028 growing at a CAGR of 11.1% during the forecast period. Rising awareness regarding the health benefits of the product, increasing consumption of plant-based products, and growing demand for foods and snacks derived from commercial seaweed are driving the market growth. However, natural calamities and the high cost of seaweed cultivation are hampering the growth of the market.
Commercial seaweed refers to the industrial harvesting of seaweed to be used in different application avenues like cosmetics, pharmaceuticals, and food and beverages. Commercial seaweed is extensively used because of its functional and healthy benefits. The product plays an important role as food flavor enhancers, staple diet, nutritive food items, and weight loss property. These are also consumed for weight-loss by people worldwide.
Based on the product, the brown seaweeds segment is going to have lucrative growth during the forecast period owing to the wide application scope, rising health awareness coupled with continuous research and development activities for the development of product applications and growing consumption in Asian countries. In countries such as China, Japan, and Vietnam, it is consumed raw or boiled along with coconut milk, crushed ice, and jelly. By geography, Asia Pacific is going to have high growth during the forecast period due to the heightened demand and production from countries including China, Indonesia, South Korea, and Japan, increasing product demand in the regional food industry, and rapid industrialization coupled with environment-friendly regulations.
Some of the key players profiled in the Commercial Seaweed Market include Chase SM6, West Coast Marine Bio-Processing Corp., Travena Organic Solutions Ltd., Seasol International Pty. Ltd., Groupe Roullier, Beijing Leili Marine Bioindustry INC., Indigrow Ltd., Gelymar SA, E.I. Du Pont de Nemours and Company, CP Kelco., Biostadt India Limited, Cargill Inc., BrandT Consolidated, Inc., Acadian Seaplants Limited and COMPO GmbH.
• Wet (Liquid)
• Red Seaweeds
• Green Seaweeds
• Brown Seaweeds
Method of Harvestings Covered:
• Wild Harvesting
• Food and Beverages
• Pharmaceuticals & Medicals
• Dietary Supplements
• Human Consumption
• Direct Consumption
• Animal Feed Additives
• Cosmetics & Personal Care
• Agricultural Fertilizers
• Other Applications
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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