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Commercial Seaweed Market

Commercial Seaweed Market

Commercial Seaweed Market Size, Trend Analysis & Competition Tracking By Product (Red, Green, Brown), By Form (Liquid, Powdered), By End Use (Direct Consumption, Textiles, Food Additives, Pharma & Personal Care, Paper Manufacturing) - Global Market Insights 2021 to 2031

Commercial Seaweed Market
FACT4493MR
  • Sep-2021
  • List of Tables : 56
  • List of Figures : 63
  • 170 Pages
  • Food & Beverage

Commercial Seaweed Market Outlook

The global seaweed market was worth over US$ 10 Bn in 2020 and is predicted to exceed US$ 15 Bn by the end of the forecast period (2021-2031). Extensive applications of seaweed in pharmaceuticals, nutraceuticals, antimicrobial goods, and biotechnological applications is primarily steering growth across the market.

Consumption Analysis of Commercial Seaweed 2016-2020 vs Future Forecast 2021-2031

According to Fact.MR- a market research and competitive intelligence provider- the global market for commercial seaweeds expanded at a CAGR of nearly 4% between 2016 and 2020.

According to recent statistics, global red seaweed output is increasing as a result of growing demand across many verticals. Carrageenan, a hydrocolloid utilized as a stiffening and stabilizing ingredient in food, cosmetics, pharmaceuticals, and other products, is mostly derived from the red seaweed Kappaphycus Alvarezii.

In 2020, the red seaweed sector held the highest proportion. Red seaweed applications in food are developing, as is demand for agar and carrageenan hydrocolloids in a variety of industries. From 2021 to 2031, demand is poised to expand at around 4.1% CAGR.

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Increasing Usage across Different Verticals to fuel Commercial Seaweed Demand

Seaweed is a multibillion-dollar industry that provides food, fertilizer, nutritional supplements, and valuable phycocolloids such as agar, carrageenan, and alginate to people worldwide. In the worldwide seaweed market, diverse end-use applications are projected to create opportunities.

Seaweed, like broccoli and beans, is a nutrient-dense plant that is high in proteins and minerals. It is consumed in places such as China due to the high content of multivitamins. Carrageenan, a substance found in red seaweed, is utilized in a variety of foods and beverages, including sweets, beer, and even toothpaste.

Rise in Seaweed Farming Practices Propelled by Global Demand?

Seaweed farming has become an alternative livelihood option in tropical developing nations to improve the socio-economic status of small-scale fishermen, boosting living standards of the coastal population, and promotes the sustainable use of coastal and marine resources. 

Seaweeds also have a faster growth rate and do not require fresh water or land space. They also do not necessitate the use of environmentally harmful industrial fertilizers or pesticides. As a result, cost-effective harvesting procedures and the ease with which cultivated seaweeds can be handled have boosted seaweed farming in important seaweed-producing countries.

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Natural Disasters have hampered the Production of Seaweed?

The biggest challenge for seaweed manufacturers is the occurrence of natural calamities, which affects the production of seaweeds in the coastal areas of seaweed-producing countries in the Asia Pacific and South American regions. Natural calamities, such as typhoons, floods, droughts, earthquakes, volcanic eruptions, and pests & diseases, affect the productivity of seaweed farming. 

The occurrence of such calamities poses a significant challenge to seaweed farmers. In response to such instances, seaweed farmers have shifted to building artificial ponds in off-marine areas requiring seawater. 

However, the adoption of such alternatives in cultivation techniques is associated with high costs that pose a financial challenge to the farmers, thereby affecting the scale of seaweed production.

Country-wise Analysis

Why is Asia an Opportunistic Market for Commercial Seaweed?
From 2021 to 2031, the Asian commercial seaweed landscape is predicted to account for 70% of global demand. Seaweed is a primary food source in China, Japan, and South Korea, becoming a vital growth enabler for the region's rising product demand. 

China remains the largest producer and consumer, followed by Japan, South Korea, and Indonesia. Positive food industry developments driven by a large population are expected to increase regional market statistics in the next years.

What Supports Increasing Commercial Seaweed Sales in the U.S?
The U.S is expected to become a lucrative market for commercial seaweed producers, with sales expected to exceed US$ 9.6 Bn within the forecast period. Extensive applications across the pharmaceutical industry is a key growth accelerator. 
Over the anticipated timeframe, rising commercial seaweed use in the area pharmaceutical sector could have a significant positive impact on local company prospects. It is extensively used to treat gall stones, stomach ailments, eczema and renal disorders among others.
How is Australia Generating Demand for Commercial Seaweed?
Wet seaweeds are also in high demand in countries such as Australia. Seaweed is being deployed to develop a new area of biodegradable packaging, in addition to food ingredients. For example, in July 2020, Notpla debuted its new ‘Ooho' line of packaging for holding liquids created from plants and seaweeds.

According to projections put forward by Fact.MR, demand for commercial seaweed in Australia is expected to flourish at over 4% in value CAGR terms, reaching a substantially high revenue threshold by the end of 2031.

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Category wise Insights

Commercial Seaweed Demand to be fueled by the Animal Feed Sector?
In forthcoming years, the animal feed segment is expected to exhibit significant growth potential. Seaweed is used in huge amounts as an animal feed supplement in coastal areas. Phosphorus, potassium, magnesium, chlorine, calcium, sodium, and sulfur are just a few of the vitamins and minerals found in it. 

Furthermore, the growing need to counteract climate change and supportive government policies and initiatives will spur biofuel production, resulting in the rise of the commercial seaweed industry. A market share worth 40% is anticipated for this segment.

Food Additives to Drive Commercial Seaweed Sales?

By 2031, the commercial seaweed industry in the food sector is expected to exceed annual demand of about 20.6 kilo tons. Direct food and food additives, which have been consumed as a staple food product in nations such as Japan, Korea, and China, are included in this segment. 

Seaweeds make up more than 8.5% of the Japanese diet, with consumption increasing steadily over the last decade, reaching an average of 3.4 kg per household.

Competitive Landscape

In the following decade, manufacturers in the Commercial Seaweed market will focus on strategic acquisitions, collaborations, and product launches.

  • In February 2021, Cargill Foods introduced a new seaweed powder food ingredient for food producers, increasing its line of label-friendly goods. The company claims to be the first in Europe to offer commercial-scale doses of the substance.
  • Likewise, the National Algae Research Centre in New Zealand intends to jumpstart the country's commercial seaweed aquaculture industry.

Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value & ‘000 Units for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

Key Countries Covered

  • U.S
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • Russia
  • India
  • China
  • South Korea
  • Japan
  • Australia
  • GCC
  • South Africa

Key Market Segments Covered

  • Product
  • Form
  • End User
  • Region

Key Companies Profiled

  • Indigrow Ltd.
  • Seasol International
  • Commercial Seaweed Energy Solutions A.S
  • Chase Organics GB Ltd.
  • Aquatic Chemicals
  • Acadian Seaplants Ltd. (ASL)
  • Pacific Harvest
  • Mara Commercial Seaweed
  • Algea A.S
  • BIOSTADT INDIA LIMITED
  • W Hydrocolloids, Inc.
  • Marcel Carrageenan
  • CP Kelco

Pricing

Available upon Request

Key Segments Covered

  • Product

    • Red Commercial Seaweed
    • Green Commercial Seaweed
    • Brown Commercial Seaweed
  • Form

    • Liquid Commercial Seaweed
    • Powdered Commercial Seaweed
  • End User

    • Commercial Seaweed for Direct Consumption
    • Commercial Seaweed for Textiles
    • Commercial Seaweed for Food Additives
    • Commercial Seaweed for Pharma & Personal Care
    • Commercial Seaweed for Paper Manufacturing
    • Commercial Seaweed for Animal Feed
    • Commercial Seaweed for Fertilizers

- FAQs -

As of 2020, demand for commercial seaweed surpassed US$ 10 Bn as per Fact.MR’s study

From 2016 to 2020, demand for commercial seaweed expanded at around 4% CAGR

As per Fact.MR, global commercial seaweed sales are poised to surpass US$ 15 Bn by 2031

The global commercial seaweed industry is likely to register a value CAGR worth 4.1% across the 2021-2031 forecast period

Increased scramble for discovering alternative protein and mineral sources is spurring demand for commercial seaweed

In the U.S, commercial seaweed sales are likely to surpass US$ 9.6 Bn by 2031

Around 70% of global commercial seaweed sales are expected to be generated across Asia

Commercial seaweed for animal feed are expected to register maximum sales, comprising 40% revenue

Sales of commercial seaweed in Australia will most likely flourish at a CAGR of 4% until 2031

Indigrow Ltd., Seasol International, Pacific Harvest and Aquatic Chemicals are some renowned commercial seaweed suppliers

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