Commercial Seaweed Market at a CAGR of 7.3% with Segmentation, Trends, Competitive Landscape & Industry Outlook
The market for commercial seaweed has been expanding quickly in recent years and is predicted to do so in the years to come. Food, cosmetics, fertilisers, and pharmaceuticals are just a few of the uses for this adaptable component.
With a market share of more than 60%, the food and beverage sector is the largest market for seaweed. Sushi, seaweed snacks, and soups are just a few foods that contain seaweed as an ingredient. Because vegan and vegetarian diets are becoming more and more popular, there will likely be a rise in the demand for seaweed in the food business. More than 70% of the global market share for commercial seaweed is in the Asia-Pacific region. The top three countries in the region that consume seaweed are China, Japan, and South Korea. Due to the rising demand for products containing seaweed in these regions, Europe and North America are also important markets for seaweed.
Market Analysis and Insights of Global Commercial Seaweed Market
The global commercial seaweed market is expected to gain market growth in the forecast period of 2021 to 2029. Data Bridge Market Research analyses that the market is growing with the CAGR of 7.3% in the forecast period of 2022 to 2029 and expected to reach USD 26,900.88 million by 2029. The demand for the commercial seaweed are high hence revenue generation is also high which is helping the market to grow in the region.
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For instance,
- 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
- In November 2021, Acadian SeaPlus launched new Chondracanthus chamissoi seaweed product to customers across the global market. It is a red algae species that has application in variety of products ranging from functional food, nutraceutical, cosmetics, pharmaceuticals, and brewing. This helped the company to expand their product portfolio
- In February 2019, According to Food and Beverages News, Cargill has launched a Red Seaweed Promise program to harvest and cultivate red seaweed in sustainable way to ensure long-term sustainable supply chain to support local communities and to conserve marine environment
Market Scope and Global Commercial Seaweed Market
Some of the major players covered in the global commercial seaweed report are Cargill, Incorporated, DuPont, Marcel Carrageenan, AtSeNova, Beijing Leili Agricultural Co., Ltd, Pacific Harvest, Irish Seaweed, Ocean Rainforest, Indigrow Ltd, Seaweed Solutions AS, Maine Coast Sea Vegetables, Kelp Industries, Pty, Ltd., Organic Irish Seaweed-Emerald Isle, Green Ocean Farming UK, Nantong Xinlang Seaweed & Foods Co., Ltd., The Seaweed Company, Cascadia Seaweed, KwangcheonKim and Others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Global Commercial Seaweed Market Scope and Market Size
The global commercial seaweed market is segmented into four notable segments which are based on by product, form, cultivation and end-user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the global commercial seaweed market is segmented into red seaweed, green seaweed and brown seaweed. In 2022, brown seaweed has the largest market share due to the factors such as increasing awareness about the health benefits offered by the brown seaweed and the rise in demand for more natural and organic products.
- On the basis of form, the global commercial seaweed market is segmented into liquid, powdered and flakes. In 2022, powder segment has the largest market share owing to the factors such as increasing awareness pertaining to the health benefits of the product made its way into various industries like food & beverages, pharmaceutical, agriculture and others.
- On the basis of cultivation, the global commercial seaweed market is segmented into onshore cultivation, offshore cultivation, nearshore cultivation, IMTA cultivation, saline aquaculture. In 2022, the offshore cultivation segment has the largest market share due to the factors such as rising demand for commercial seaweed and increased interest in growing seaweed on a large scale.
- On the basis of end-user, the global commercial seaweed market is segmented into food & beverages, pharmaceuticals, agriculture, animal feed, cosmetics & personal care, biofuels and others. In 2022, the food & beverages segment has the largest market share due to the factors such as increasing awareness about the nutrient enrichment and health benefits offered by the seaweed and a rise in demand for more natural and organic food and beverages products.
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Here are some reasons why you may want to consider buying a commercial seaweed market report:
- Market insights: The report provides valuable insights into the commercial seaweed market, including market size, growth potential, and key drivers of growth. It will help you understand the current state of the market and its future prospects.
- Industry analysis: The report offers a comprehensive analysis of the seaweed industry, including a detailed assessment of key players, their market share, and competitive landscape. This information can help you identify potential business partners, competitors, and opportunities for growth.
- Market trends: The report analyzes current market trends, including consumer preferences and buying behavior, regulatory landscape, and technological advancements. This can help you stay ahead of the curve and make informed business decisions.
- Regional analysis: The report provides a detailed analysis of the commercial seaweed market in different regions, including North America, Europe, Asia Pacific, and Rest of the World. This information can help you identify opportunities in different markets and tailor your business strategy accordingly.
- Market segmentation: The report offers a comprehensive analysis of the commercial seaweed market by product type, form, and application. This information can help you understand the demand for different types of seaweed products and identify potential opportunities for growth.
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