In terms of revenue, the Global Commercial Seaweed Market is expected to reach USD 10.8 Billion by 2028, growing at a CAGR (Compound Annual Growth Rate) of 1.90% from 2022 to 2028.
An increased understanding of these seaweeds' advantages and therapeutic uses is the crucial factor driving the market for Commercial Seaweeds. Due to their thickening and gelling qualities, Commercial Seaweeds are employed in various industries, including animal feed, human food, agriculture, and pharmaceuticals. They are also used in several businesses due to their different nutritional properties. Farmers use seaweed extract because it works well as a fertilizer for growing crops. Complex liquid seaweed extracts have demonstrated novel ways to increase agricultural productivity. With a better understanding of how seaweed is used in agriculture, farmers have observed some additional advantages, such as strengthened plant roots. The growth of these plants' flowers, leaves, and fruit, as well as their ability to tolerate environmental difficulties like cold or drought, are all considerably aided by seaweed. Seaweeds also improve the soil's microbiology, ability to retain water, and soil structure.
Key Highlights from the Report
- Among Products, the Green Seaweed segment is anticipated to dominate the Commercial Seaweed market with the highest market share during the forecast period. The segmental expansion is anticipated to be driven by increased demand for green algae from nutritional supplements such as capsules and tablets.
- By Application, the Human Consumption segment accounted for the highest CAGR in the forecast period. The segment's expansion can be ascribed to a growing understanding of seaweed's nutrient enrichment and health advantages.
- Geographically, the Commercial Seaweed market in Asia Pacific is anticipated to hold the greatest market share over the projection period due to the increased consumption in emerging economies like Japan, China, and South Korea.
Due to its effectiveness in enhancing the nutritional content of food products, seaweed is in greater demand from the global food sector. Macro algae, for instance, are utilized as a food ingredient or freshly added to foods in countries like the U.S., France, and Canada now that the Asian population has migrated to these nations. Previously, it was primarily consumed in Asia countries. Several hydrocolloids made from seaweed are also employed to boost the stability and thickness of food products. Additionally, it is used to create gels and films that are water-soluble. The most popular macroalgal extracts are alginate, agar, and carrageenan. They are employed in various food products, including ice cream, jam, fruit juice, bakery goods, and others, as gelling, stabilizing, emulsifying, and thickening agents. Furthermore, due to their abundance of biochemicals such as amino acids, proteins, lipids, vitamins, polysaccharides, peptides, and minerals, seaweeds help make food products more functional. This is anticipated to fuel market expansion in the ensuing years.
Demand for plant-based products is expected to increase due to rising consumer demand. The trend of being vegan or adopting a vegetarian diet has intensified due to the growing concern for animal welfare, which has increased the consumption of plant-based goods. With the growing belief that plant-based products are safer & healthier than those derived from animals, these items are becoming increasingly popular in various industries, including the food and cosmetics sectors. As a rich source of protein, macroalgae are increasingly widely used to create plant-based protein substitutes, causing this sector to rise.
The Asia Pacific is anticipated to have the quickest growth in the global market due to rising market demand and a wealth of seaweed production in the area. The leading producers of seaweed include China, South Korea, Japan, and Indonesia. In this location, there is a vast demand for seaweed for animal feed and other pharmaceutical applications. In addition, the area's market is also growing due to the increased usage of Commercial Seaweeds, particularly in food, medicine, personal care products, gels, and adhesives.
The Global Commercial Seaweed Market is Segmented as follows
- Brown Seaweed
- Red Seaweed
- Green Seaweed
- Animal Feed
- Human Consumption
- Other Applications
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Commercial Seaweed Market is
Cargill Inc. (US), E.I. Du Pont de Nemo US and Company (US), Roullier Group (France), Biostadt India Limited (India), Compo GmbH & Co. KG (Germany), Acadian Seaplants Limited (Germany), Gelymar SA (Chile), BrandT Consolidated Inc. (US), Seasol International Pty. Ltd (Australia), CP Kelco (India), West Coast Marine Bio-Processing Corp (Canada), Leili Group (China), Chase Organics GB Limited (U.K.), Indigrow Ltd (Berkshire), Travena Organic Solutions Ltd. (US)
The Global Commercial Seaweed Market Scope can be Tabulated as below
|Market Size Provided for Years||2017 - 2030|
|Historic Years||2017 - 2021|
|Forecast Years||2023 - 2030|
|Regions & Counties Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|