Commercial Seaweed Market Snapshot
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.
Key Points Addressed in Commercial Seaweed Industry Analysis
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Commercial Seaweed and How to Navigate
- Recommendation on Key Winning Strategies
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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.
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.
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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.
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.
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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.
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.
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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.
Historical Data Available for
|US$ Mn for Value & ‘000 Units for Volume|
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Available upon Request
Key Segments Covered
- Red Commercial Seaweed
- Green Commercial Seaweed
- Brown Commercial Seaweed
- Liquid Commercial Seaweed
- Powdered Commercial Seaweed
- 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
Commercial Seaweed Market- Scope of Report
A recent study by Fact.MR on the commercial seaweed market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering commercial seaweed.
The study also provides the dynamics responsible for influencing the future status of the commercial seaweed market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.
A list of prominent companies operating in the commercial seaweed market, along with their product portfolios, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of commercial seaweed across the globe.
A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of commercial seaweed market during the forecast period. Price point comparison by region with global average price is also considered in the study.
Key Questions Answered in Report
- Which are the most lucrative commercial seaweed markets?
- Which factors will impact the growth of commercial seaweed?
- How will changing trends impact the strategies of market players?
- How can market players capture the low-hanging opportunities across regions?
- Which companies are leading the commercial seaweed industry?
- What are the winning strategies of stakeholders in the market?
Analysis on Market Size Evaluation
The market has been analyzed for each segment in terms of volume (‘000 Units) and value (US$ Mn).
Estimates at global and regional levels for commercial seaweed are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report.
Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global commercial seaweed market.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the commercial seaweed market during the forecast period.
Country-specific valuation on demand for commercial seaweed has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value & volume for emerging countries has also been included in the report.
In-depth Analysis on Competition Analysis
The report sheds light on leading manufacturers of commercial seaweed, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering commercial seaweed has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the commercial seaweed domain.
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the commercial seaweed industry, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.
- 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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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
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