Commercial Seaweeds Market

Commercial Seaweed Market Size to Soar to USD 16.9 Billion by 2028″

Commercial Seaweed Market Outlook

The Commercial Seaweed Market is poised to reach an estimated size of USD 16.9 billion in 2028, exhibiting a commendable Compound Annual Growth Rate (CAGR) of 10.10% from 2021 to 2028.

Seaweeds, a diverse group of multicellular and photoautotrophic algae thriving in marine environments, often attach to rocks or hard substrates. Renowned for their rich nutrient content, seaweeds find applications in various fields, including food supplements, pharmaceuticals, industrial chemicals, and as a promising component for biofuel research and carbon capture and sequestration (CCS). Additionally, their abundance in growth hormones like Gibberellins and Auxins enhances their use as agricultural fertilizers, stimulating cell elongation and promoting plant growth.

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The global commercial seaweeds market categorizes seaweeds into red, brown, and green types. Notably, the brown seaweeds segment is expected to dominate the market, maintaining leadership throughout the forecast period. Brown seaweeds boast iodine and tyrosine, crucial for maintaining thyroid function, and are rich in vitamins, minerals, and other health-enhancing properties, contributing to improved bone health, hormone balance, and alleviation of conditions such as fatigue, hypothyroidism, and menstrual problems.

Harvesting methods, classified into aquaculture and wild harvesting, indicate a growing preference for aquaculture due to its minimal seabed impact and cost-effectiveness. The aquaculture segment is anticipated to demonstrate a higher CAGR, aligning with the increasing inclination of seaweed producers towards this sustainable harvesting method.

In terms of form, liquid seaweed products, prized for their protective antioxidant properties, are expected to lead in revenue share throughout the forecast period. Liquid seaweed finds application in various industries, including food and beverages, agriculture, and animal feed.

Application-wise, the food and beverages segment, encompassing convenience food, dairy and frozen desserts, meat, poultry, and seafood, bakery and confectioneries, stands out as the highest revenue contributor in the global commercial seaweed market. Seaweeds, enriched with essential nutrients like iodine, calcium, magnesium, iron, and vitamins, play a vital role in various processed food products, serving as gelling and thickening agents in items such as dairy drinks, creams, cheese, and candies.

Regional Analysis

The global commercial seaweeds market has been segmented on the basis of region, into North America, Europe, Asia-Pacific, Rest of the World.

Asia-pacific is expected to dominate the global commercial seaweeds market owing to presences various species seaweeds in the region. Countries such as China, Indonesia and Japan are among the largest suppliers of commercial seaweeds in the region.

North America and Row commercial seaweeds market is expected to grow at a rapid pace due to the surging prevalence and consumption of commercial seaweeds in the regions. Moreover, North America is also expected to project a significant market share owing to the increasing awareness regarding the mineral and vitamin content of seaweeds. Thus, surging its usage as an ingredient in various food & beverages products. Moreover, the increasing demand for clean label and organic food products, has led to usage of seaweeds as a natural fertilizer in the agriculture industry.

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The global commercial seaweeds market has been segmented based on type, method of harvesting, form, application, and region.

By type, the global commercial seaweeds market has been classified as red seaweeds, brown seaweeds, and green seaweeds.

By method of harvesting, the global commercial seaweeds market has been classified as aquaculture and wild harvesting.

Based on form, the global commercial seaweeds market has been segmented into liquid, powder, flakes, and others.

Based on application, the global commercial seaweeds market has been divided into food & beverages, animal feed, and agriculture. Food & beverages segment is further bifurcated into convenience food, dairy & frozen desserts, meat, poultry, & seafoods, bakery & confectioneries, and others.

Key Players

Some of the key players in the global commercial seaweeds market are Cargill, Incorporated (US), DowDuPont Inc. (US), Algaia SA (France), Compañía Española de Algas Marinas S.A. (Spain), Extractos Naturales Gelymar S.A.(Chile), Acadian Seaplants Limited (Canada), CP Kelco U.S., Inc. (US), Biostadt India Limited (India), COMPO EXPERT GmbH (Germany), and Compagnie Financiere et de Participations Roullier S.A. (France).

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