Commercial Seaweed Market
Commercial Seaweed Market Forecasts to 2028 - Global Analysis By Form (Powdered, Flakes and Leaf), Product (Red seaweed, Green seaweed and Brown seaweed), Application and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $16.5 BN |
|
Projected Year Value (2028) |
US $28.5 BN |
|
CAGR (2022 - 2028) |
9.5% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Commercial Seaweed Market is accounted for $16.5 billion in 2022 and is expected to reach $28.5 billion by 2028 growing at a CAGR of 9.5% during the forecast period. Seaweed is a good source of iodine, which is rare in other foods or ingredients. The utilization of seaweed and its isolates tends to increase satiety, lowering postprandial glucose and lipid absorption rates in humans, which aids in the creation of anti-obesity foods. Seaweeds are used as ingredients or consumed as foods owing to their anti-microbial properties, which provide a preservative benefit to foods.
According to the Good Food Institute, a US-based non-profit organization that promotes plant- and cell-based alternatives to animal products, in 2020, dollar sales of plant-based food grew by 43%, which increased from $5.5 billion in 2019 to $7 billion in 2020.
Market Dynamics:
Driver:
Rising government initiatives
Seaweed cultivation will go a long way in helping the lives of coastal fisher-families, particularly fisherwomen, farmers, and entrepreneurs. Considering these things, many governments worldwide have set up policies and offer funds to support the seaweed industry within the country are the major factors fueling the market expansion.
Restraint:
Environmental risks
Seaweed aquaculture risks include the potential loss of seabed habitat due to equipment required to build seaweed farms, as well as the risk of marine mammals and other large animals becoming entangled in the strands. Noise pollution during harvesting is a huge impediment limiting market expansion.
Opportunity:
Increasing consumption of plant-based products
Commercial seaweed is used in the manufacture of plant-based foods. Plant-based food is a final product made up of plant-based elements like vegetables, fruits, and whole grains. These seaweeds help to increase protein content in plant-based products. Therefore, rising consumer consumption of plant-based goods is propelling the market forward.
Threat:
High cost of cultivation
The mixing of plastics from industrial effluents and hazardous waste compounds has significantly increased water contamination. This increases the difficulty of collecting algae from ocean bottoms, raising the price of algae. The high cost of cultivation is expected to restrict industry growth.
Covid-19 Impact
The COVID-19 pandemic has adversely hit many economies around the world. Government measures to combat the pandemic, such as nationwide lockdowns and quarantines, negatively impacted many industries. Most manufacturers of food products in the F&B sector continue to feel the impact of pandemic. Social distancing, self-isolation, and city-wide lockdowns have forced the closures of many establishments in countries.
The powdered segment is expected to be the largest during the forecast period
The powdered segment is estimated to have a lucrative growth, due to it is widely utilized in both cosmetics and food industries. Additionally, powders are simpler to transport and store, which lowers operational expenses and spoilage. Furthermore, increased demand for vegan products is likely to drive segment demand.
The brown seaweed segment is expected to have the highest CAGR during the forecast period
The brown seaweed segment is anticipated to witness the fastest CAGR growth during the forecast period, due to its use in industries like agriculture, animal feed. These seeds are mainly utilised as a raw material for the hydrocolloid alginate extraction and as food. The product is also utilised as fillers, emulsifier and thickening are the factors propelling the segment growth.
Region with Largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the rising consciousness of consumers. The population is largely concentrated in coastal regions, making it strongly related to the sea and its food supplies. However, demand for seaweed as a food source has grown in several parts of the world.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to the swift industrialization and presence of environment-friendly regulation. The growing popularity of vegan and vegetarian diets in the region has increased demand for plant proteins in a variety of food products.
Key players in the market
Some of the key players profiled in the Commercial Seaweed Market include Cargill Incorporated, Beijing Leili Marine Bioindustry INC., Roullier Group, Pacific Harvest, Acadian Seaplants Limited, Cascadia Seaweed Corp., CP Kelco US Inc., BrandT Consolidated, Inc., Gelymar SA, E.I. Du Pont de Nemours and Company, Chase Organics GB Limited, Leili Group, Biostadt India Limited, Dycolor Seaweed Industries, Seasol International Pty. Ltd., Algaia SA, Travena Organic Solutions Ltd. , West Coast Marine Bio-Processing Corp., Aquatic Chemicals and Indigrow Ltd.
Key Developments:
In September 2022, CadalminTM LivCure extract, a patent-protected nutraceutical product developed by the ICAR-Central Marine Fisheries Research Institute (CMFRI) from seaweeds to combat non-alcoholic fatty liver disease, will be available in the market soon. The product contains 100% natural bioactive ingredients extracted from select seaweeds.
In November 2021, Cascadia Seaweed partnered with Tsawout First Nation to farm seaweed off James Island. This helped the company to increase the production of seaweed in order to meet the growing demand for seaweeds
Forms Covered:
• Powdered
• Flakes
• Leaf
Products Covered:
• Red seaweed
• Green seaweed
• Brown seaweed
Applications Covered:
• Animal Feed
• Cosmetics and personal care
• Agriculture
• Food and beverage
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Commercial Seaweed Market, By Form
5.1 Introduction
5.2 Powdered
5.3 Flakes
5.4 Leaf
6 Global Commercial Seaweed Market, By Product
6.1 Introduction
6.2 Red seaweed
6.3 Green seaweed
6.4 Brown seaweed
7 Global Commercial Seaweed Market, By Application
7.1 Introduction
7.2 Animal Feed
7.3 Cosmetics and personal care
7.4 Agriculture
7.5 Food and beverage
8 Global Commercial Seaweed Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 Cargill Incorporated
10.2 Beijing Leili Marine Bioindustry INC.
10.3 Roullier Group
10.4 Pacific Harvest
10.5 Acadian Seaplants Limited
10.6 Cascadia Seaweed Corp.
10.7 CP Kelco US Inc.
10.8 BrandT Consolidated, Inc.
10.9 Gelymar SA
10.10 E.I. Du Pont de Nemours and Company
10.11 Chase Organics GB Limited
10.12 Leili Group
10.13 Biostadt India Limited
10.14 Dycolor Seaweed Industries
10.15 Seasol International Pty. Ltd.
10.16 Algaia SA
10.17 Travena Organic Solutions Ltd.
10.18 West Coast Marine Bio-Processing Corp.
10.19 Aquatic Chemicals
10.20 Indigrow Ltd.
List of Tables
1 Global Commercial Seaweed Market Outlook, By Region (2020-2028) ($MN)
2 Global Commercial Seaweed Market Outlook, By Form(2020-2028) ($MN)
3 Global Commercial Seaweed Market Outlook, By Powdered (2020-2028) ($MN)
4 Global Commercial Seaweed Market Outlook, By Flakes (2020-2028) ($MN)
5 Global Commercial Seaweed Market Outlook, By Leaf (2020-2028) ($MN)
6 Global Commercial Seaweed Market Outlook, By Product (2020-2028) ($MN)
7 Global Commercial Seaweed Market Outlook, By Red seaweed (2020-2028) ($MN)
8 Global Commercial Seaweed Market Outlook, By Green seaweed (2020-2028) ($MN)
9 Global Commercial Seaweed Market Outlook, By Brown seaweed (2020-2028) ($MN)
10 Global Commercial Seaweed Market Outlook, By Application (2020-2028) ($MN)
11 Global Commercial Seaweed Market Outlook, By Animal Feed (2020-2028) ($MN)
12 Global Commercial Seaweed Market Outlook, By Cosmetics and personal care (2020-2028) ($MN)
13 Global Commercial Seaweed Market Outlook, By Agriculture (2020-2028) ($MN)
14 Global Commercial Seaweed Market Outlook, By Food and beverage (2020-2028) ($MN)
15 North America Commercial Seaweed Market Outlook, By Country (2020-2028) ($MN)
16 North America Commercial Seaweed Market Outlook, By Form (2020-2028) ($MN)
17 North America Commercial Seaweed Market Outlook, By Powdered (2020-2028) ($MN)
18 North America Commercial Seaweed Market Outlook, By Flakes (2020-2028) ($MN)
19 North America Commercial Seaweed Market Outlook, By Leaf (2020-2028) ($MN)
20 North America Commercial Seaweed Market Outlook, By Product (2020-2028) ($MN)
21 North America Commercial Seaweed Market Outlook, By Red seaweed (2020-2028) ($MN)
22 North America Commercial Seaweed Market Outlook, By Green seaweed (2020-2028) ($MN)
23 North America Commercial Seaweed Market Outlook, By Brown seaweed (2020-2028) ($MN)
24 North America Commercial Seaweed Market Outlook, By Application (2020-2028) ($MN)
25 North America Commercial Seaweed Market Outlook, By Animal Feed (2020-2028) ($MN)
26 North America Commercial Seaweed Market Outlook, By Cosmetics and personal care (2020-2028) ($MN)
27 North America Commercial Seaweed Market Outlook, By Agriculture (2020-2028) ($MN)
28 North America Commercial Seaweed Market Outlook, By Food and beverage (2020-2028) ($MN)
29 Europe Commercial Seaweed Market Outlook, By Country (2020-2028) ($MN)
30 Europe Commercial Seaweed Market Outlook, By Form (2020-2028) ($MN)
31 Europe Commercial Seaweed Market Outlook, By Powdered (2020-2028) ($MN)
32 Europe Commercial Seaweed Market Outlook, By Flakes (2020-2028) ($MN)
33 Europe Commercial Seaweed Market Outlook, By Leaf (2020-2028) ($MN)
34 Europe Commercial Seaweed Market Outlook, By Product (2020-2028) ($MN)
35 Europe Commercial Seaweed Market Outlook, By Red seaweed (2020-2028) ($MN)
36 Europe Commercial Seaweed Market Outlook, By Green seaweed (2020-2028) ($MN)
37 Europe Commercial Seaweed Market Outlook, By Brown seaweed (2020-2028) ($MN)
38 Europe Commercial Seaweed Market Outlook, By Application (2020-2028) ($MN)
39 Europe Commercial Seaweed Market Outlook, By Animal Feed (2020-2028) ($MN)
40 Europe Commercial Seaweed Market Outlook, By Cosmetics and personal care (2020-2028) ($MN)
41 Europe Commercial Seaweed Market Outlook, By Agriculture (2020-2028) ($MN)
42 Europe Commercial Seaweed Market Outlook, By Food and beverage (2020-2028) ($MN)
43 Asia Pacific Commercial Seaweed Market Outlook, By Country (2020-2028) ($MN)
44 Asia Pacific Commercial Seaweed Market Outlook, By Form (2020-2028) ($MN)
45 Asia Pacific Commercial Seaweed Market Outlook, By Powdered (2020-2028) ($MN)
46 Asia Pacific Commercial Seaweed Market Outlook, By Flakes (2020-2028) ($MN)
47 Asia Pacific Commercial Seaweed Market Outlook, By Leaf (2020-2028) ($MN)
48 Asia Pacific Commercial Seaweed Market Outlook, By Product (2020-2028) ($MN)
49 Asia Pacific Commercial Seaweed Market Outlook, By Red seaweed (2020-2028) ($MN)
50 Asia Pacific Commercial Seaweed Market Outlook, By Green seaweed (2020-2028) ($MN)
51 Asia Pacific Commercial Seaweed Market Outlook, By Brown seaweed (2020-2028) ($MN)
52 Asia Pacific Commercial Seaweed Market Outlook, By Application (2020-2028) ($MN)
53 Asia Pacific Commercial Seaweed Market Outlook, By Animal Feed (2020-2028) ($MN)
54 Asia Pacific Commercial Seaweed Market Outlook, By Cosmetics and personal care (2020-2028) ($MN)
55 Asia Pacific Commercial Seaweed Market Outlook, By Agriculture (2020-2028) ($MN)
56 Asia Pacific Commercial Seaweed Market Outlook, By Food and beverage (2020-2028) ($MN)
57 South America Commercial Seaweed Market Outlook, By Country (2020-2028) ($MN)
58 South America Commercial Seaweed Market Outlook, By Form (2020-2028) ($MN)
59 South America Commercial Seaweed Market Outlook, By Powdered (2020-2028) ($MN)
60 South America Commercial Seaweed Market Outlook, By Flakes (2020-2028) ($MN)
61 South America Commercial Seaweed Market Outlook, By Leaf (2020-2028) ($MN)
62 South America Commercial Seaweed Market Outlook, By Product (2020-2028) ($MN)
63 South America Commercial Seaweed Market Outlook, By Red seaweed (2020-2028) ($MN)
64 South America Commercial Seaweed Market Outlook, By Green seaweed (2020-2028) ($MN)
65 South America Commercial Seaweed Market Outlook, By Brown seaweed (2020-2028) ($MN)
66 South America Commercial Seaweed Market Outlook, By Application (2020-2028) ($MN)
67 South America Commercial Seaweed Market Outlook, By Animal Feed (2020-2028) ($MN)
68 South America Commercial Seaweed Market Outlook, By Cosmetics and personal care (2020-2028) ($MN)
69 South America Commercial Seaweed Market Outlook, By Agriculture (2020-2028) ($MN)
70 South America Commercial Seaweed Market Outlook, By Food and beverage (2020-2028) ($MN)
71 Middle East & Africa Commercial Seaweed Market Outlook, By Country (2020-2028) ($MN)
72 Middle East & Africa Commercial Seaweed Market Outlook, By Form (2020-2028) ($MN)
73 Middle East & Africa Commercial Seaweed Market Outlook, By Powdered (2020-2028) ($MN)
74 Middle East & Africa Commercial Seaweed Market Outlook, By Flakes (2020-2028) ($MN)
75 Middle East & Africa Commercial Seaweed Market Outlook, By Leaf (2020-2028) ($MN)
76 Middle East & Africa Commercial Seaweed Market Outlook, By Product (2020-2028) ($MN)
77 Middle East & Africa Commercial Seaweed Market Outlook, By Red seaweed (2020-2028) ($MN)
78 Middle East & Africa Commercial Seaweed Market Outlook, By Green seaweed (2020-2028) ($MN)
79 Middle East & Africa Commercial Seaweed Market Outlook, By Brown seaweed (2020-2028) ($MN)
80 Middle East & Africa Commercial Seaweed Market Outlook, By Application (2020-2028) ($MN)
81 Middle East & Africa Commercial Seaweed Market Outlook, By Animal Feed (2020-2028) ($MN)
82 Middle East & Africa Commercial Seaweed Market Outlook, By Cosmetics and personal care (2020-2028) ($MN)
83 Middle East & Africa Commercial Seaweed Market Outlook, By Agriculture (2020-2028) ($MN)
84 Middle East & Africa Commercial Seaweed Market Outlook, By Food and beverage (2020-2028) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
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