Marine Seaweed Market

Marine Seaweed Market Outlook (2023 to 2033)

The global marine seaweed market size is expected to expand from US$ 862.4 million in 2023 to US$ 1,513.6 million by 2033. Over the next ten years (2023 to 2033), global Marine Seaweed sales are likely to soar at 5.8% CAGR.

Attributes	Key Insights
Estimated Global Marine Seaweed Market Size (2023E)	US$ 862.4 million
Projected Marine Seaweed Market Value (2033F)	US$ 1513.6 million
Value-based CAGR (2023 to 2033)	5.8%
Top 3 Countries’ Value	US$ 376.88 million

Key Trends Listed by Fact.MR

• Rising sales of marine seaweed through online shopping platforms is anticipated to boost revenues
• Increasing demand for natural and sustainable ingredients is a key factor driving the global marine seaweed industry
• Growing beauty from within concept is likely to create new opportunities for companies
• Rise of personalized nutrition is expected to fuel the growth market
• Innovation in product delivery formats is anticipated to attract more consumers
• Cross-Industry collaborations is expected to drive the growth market
• Rising demand for functional foods is anticipated to boost revenues
• Influencer marketing especially in emerging markets will bolster marine collagen powder sales
• Increasing Culinary application worldwide is anticipated to create new opportunities for companies
• Asian beauty and multi-step skincare trends is expected to drive the growth market

Marine seaweed, also known as macro algae, is a type of algae which grows in saltwater environments such as coastal areas, oceans, and seas. It a group of various multicellular organisms which can vary in color, shape, and size. Seaweeds are generally categorised in three main groups which are- green, brown, and red seaweeds.

Marine seaweeds have been a staple in Asian cuisines for decades, especially in countries like Japan, China, and Korea. However it’s application in culinary is now expanding globally. Various salads, soups, sushi, and snacks are prepared with seaweed. It enhances a wide range of dishes with unique flavors, textures, and nutritional benefits. Seaweed is becoming more popular in worldwide cuisines as consumers are becoming more fascinated with diverse and exotic foods.

The growing marine seaweed industry presents economic opportunities in the blue economy sector. Seaweed farming and processing create opportunity for jobs and income for coastal communities, contributing to sustainable economic development. Seaweed-based products, such as food, cosmetics, pharmaceuticals, and biofuels, have a market demand and offer diverse business opportunities.

The versatility of marine seaweed extends beyond food. Marine seaweed extracts and derivatives are finding applications in industries such as cosmetics, pharmaceuticals, and dietary supplements. The expanding range of applications across industries is expected to boost market growth.

Manufacturers are exploring biodegradable packaging options that break down naturally in the environment, reducing the impact on landfills or marine ecosystems. This includes packaging made from materials like paper, cardboard, or compostable plant-based plastics.

For instance, in January 2023, Ocean Halo released sustainably packaged seaweed, the company released a trayless seaweed snack, eliminating the holding tray from the packaging. This change will also reduce the Ocean Halo’s carbon footprint by 50%. According to the company this trayless version will account for nearly four times more shelf efficiency at supermarkets, and sell two times more units per shopping cart than the trayed version.

Various Marine seaweed manufacturers are actively working on reducing the overall amount of packaging used. They are optimizing packaging design to minimize material usage while still ensuring product integrity and safety. This approach helps reduce waste generation and contributes to more sustainable packaging practices.

2018 to 2022 Global Marine Seaweed Sales Outlook Compared to Demand Forecast from 2023 to 2033

According to the Fact.MR analysis, global marine seaweed sales grew at a CAGR of 2.2% from 2018 to 2022. For the next ten years, the worldwide market for Marine Seaweed is forecast to progress at 5.8% CAGR.

Marine seaweed is renowned for its exceptionally high nutritional value. It is abundant in dietary fibre, essential minerals, vitamins, and antioxidants. Marine seaweed is a natural source of iodine, iron, calcium, and vitamins A, C, and K. The health benefits of marine seaweed has contributed to its rising demand as consumers become more health conscious and seek out for nutritious food options.

With increasing popularity of vegan and plant based diets, the popularity of marine seaweed is also increasing side by side. Marine seaweed offers a plant-based source of protein, minerals and vitamins which makes it a valuable addition of these dietary choices. It is known for providing nutrient-rich and sustainable alternative to seafood and can be used for making plant-based meat substitutes.

With the increasing globalization of culinary experiences, there is a growing interest in exploring diverse flavors and ingredients from around the world. Marine seaweed’s inclusion in international cuisine, such as Japanese sushi, Korean seaweed soup, and Irish carrageenan, has piqued curiosity and expanded its popularity as a unique and exotic ingredient.

Collaboration among industry players, research institutions, and governments is becoming more common in the marine seaweed market. Collaborative initiatives help address challenges and accelerate the growth of the market.Consequently, marine seaweed products are becoming more readily available in grocery stores, specialty food markets, and online platforms. The increased accessibility and awareness of seaweed-based will boost the market during the assessment period.

Adjacent Markets Overview

Marine Enzymes Market :

Attributes	Marine Enzymes Market
CAGR (2023 to 2033)	6.8%
Market Value (2033)	US$ 453.90 million
Growth Factor	In many industries, including food and beverage, cosmetics, pharmaceuticals, and agriculture, there is a rising demand for sustainable products. Due to their potential for sustainability and environment compatibility, marine enzymes are been used more frequently across a variety of industries.
Opportunity	Marine enzymes offer a natural and sustainable alternative to synthetic chemicals, opening up a sizable market.
Key Trends	The marine enzyme market is witnessing a strong upward trend driven by increasing applications and demand across various industries. Marine enzymes possess unique properties and catalytic capabilities that make them valuable in sectors such as pharmaceuticals, food and beverages, cosmetics, and biofuels.

Marine-Based Drugs Market :

Attributes	Marine-Based Drugs Market
CAGR (2023 to 2033)	8.3%
Market Value (2033)	US$ 9,275.9 million
Growth Factor	Marine-based drugs have gained significant attention due to their potential in treating various diseases and medical conditions. They have shown promise in areas such as cancer research, anti-inflammatory therapies, antimicrobial agents, cardiovascular treatments, and neuroprotective compounds. The vast biodiversity of marine ecosystems offers a rich source of novel chemical structures with potential medicinal properties.
Opportunity	The market landscape of marine-based drugs involves research institutions, pharmaceutical companies, biotechnology firms, and other stakeholders collaborating to identify, isolate, and develop bioactive compounds.
Key Trends	In many industries, including pharmaceuticals, there is a rising consumer preference for natural and sustainable products. Marine-based drugs, derived from natural marine sources, align with this trend and offer an alternative to synthetic compounds.

Ocean Based Supplements :

Attributes	Ocean Based Supplements
CAGR (2023 to 2033)	8.1%
Market Value (2033)	US$ 13,669.9 million
Growth Factor	Increasing consumer awareness of the importance of ocean based nutrients for overall health and wellness is driving the growth of the ocean based supplements market.
Opportunity	Growing focus on specialized ocean based supplements targeting specific health concerns, such as joint health, cognitive function, and heart health.
Key Trends	Expansion of the ocean based supplement market into new demographics, including athletes, fitness enthusiasts, and aging populations.

Country-wise Insights

North America - CAGR

Countries	CAGR (%)
United States	4.8%

Europe - CAGR

Countries	CAGR (%)
United Kingdom	13.4%

Asia Pacific - CAGR

Countries	CAGR (%)
China	15.7%
India	13.5%
Japan	16.9%

North America - BPS Analysis

Countries	BPS Analysis
United States	60

Europe - BPS Analysis

Countries	BPS Analysis
United Kingdom	180

Asia Pacific - BPS Analysis

Countries	BPS Analysis
China	360
India	340
Japan	920

North America - Market Value (2033)

Countries	Market Value (2033)
United States	US$ 364.8 million

Europe - Market Value (2033)

Countries	Market Value (2033)
United Kingdom	US$ 230.1 million

Asia Pacific - Market Value (2033)

Countries	Market Value (2033)
China	US$ 292.1 million
India	US$ 255.8 million
Japan	US$ 261.9 million

Will China Retain its Dominance in the East Asia Marine Seaweed Market?

Increasing Demand For On-The-Go Snacks Elevating Marine Seaweed Sales In China

As per Fact.MR, China Marine Seaweed market is expected to reach a valuation of around US$ 292.1 million by 2033. It will therefore hold a prominent value share of 63.1% in East Asia market.

Marine Seaweed has been a part of Chinese cuisine from centuries now. It is used various traditional dishes, like stir-fries, soups, and hot pots. The entrenched culinary tradition and the popularity of seaweed based meals have contributed to the persistent demand for marine seaweed in China.

The convenience food market in China is expanding rapidly, driven by busy lifestyles and changing eating habits. Seaweed snacks, such as roasted seaweed sheets, seaweed chips, and seasoned seaweed strips, have gained popularity as convenient and healthy snack options. Due to the increasing demand and preference for grab-and-go snacks and portable foods, the seaweed snack products in China is growing.

China has a significant advantage in terms of production capacity. It has vast coastlines suitable for seaweed cultivation, providing ample space for large-scale farming operations. Chinese manufacturers can leverage their extensive production capabilities to meet domestic and international demand for marine seaweed products.

Chinese manufacturers benefit from cost effectiveness due to economies of scale, lower labor costs, and access to affordable raw materials. This cost advantage enables them to offer competitive pricing for their products, making them more attractive to customers in both domestic and international markets. Availability of products at competitive prices is expected to help boost the sales of Marine Seaweed in China market during the assessment period.

What is Driving Marine Seaweed Demand in the India?

Growing Popularity Of Culinary Industry Driving Marine Seaweed Demand In India

According to Fact.MR analysis, Indian Marine Seaweed industry is poised to exhibit a CAGR of 13.5% during the assessment period. By 2033, the India market size is expected to reach US$ 255.8 million.

Marine Seaweed is gaining popularity in the beauty and personal care industry in India. They are used in skincare products for its hydrating, anti-aging and nourishing properties. Seaweed- based cosmetics, like face masks, moisturizers, and hair care products are becoming sought-after choices among consumers looking for natural and effective beauty solutions.

The culinary industry in India is embracing global food trends and exploring diverse flavors and ingredients. Seaweed’s unique taste, texture, and nutritional profile make it an intriguing ingredient for chefs and home cooks.

Further, The Indian government has recognized the potential of seaweed as a sustainable resource and has implemented policies to promote its cultivation and utilization. Initiatives include providing financial incentives, technical support, and research grants to encourage seaweed farming and product development. These government efforts have spurred the growth of the seaweed industry and increased its demand.

Similarly, Marine Seaweed are becoming more broadly offered in supermarkets and online stores. This makes them more accessible to consumers and will boost Marine Seaweed sales revenue in the country.

What is the Demand Outlook for the Marine Seaweed in Australia Market?

Strong Aquaculture And Marine Industry Boosting Sales In Australia For Marine Seaweed

Marine Seaweed demand in Australia is anticipated to rise at a steady CAGR of 4.9% during the forecast period from 2023 to 2033. By the end of 2033, India is likely to hold a market share of 54.1% in Oceania market.

Australia has a strong aquaculture and marine industry, which presents opportunities for seaweed cultivation. Seaweed can be grown alongside fish and shellfish farms, providing a complementary approach known as integrated multi-trophic aquaculture (IMTA). The diversification of aquaculture practices with seaweed cultivation offers economic and environmental benefits, driving the demand for marine seaweed.

Sustainability and environment concerns play a significant role in driving the demand for marine seaweed in Australia. Seaweed cultivation is environment friendly as it requires minimal land, water, and fertilizers. Additionally, seaweed helps mitigate climate change by absorbing carbon dioxide. Consumers are drawn to the sustainable and ethical aspects of seaweed production, aligning with their values and preferences.

Australia is home to a wide range of seaweed species, offering manufacturers a diverse selection to work with. Different seaweed species have varying flavors, textures, and nutritional profiles, allowing for the creation of unique products and catering to a variety of consumer preferences.

Category-wise Insights

Why Is Demand For Red Seaweed Growing In The Market?

Demand in the Market to Remain High for Red Marine Seaweed

Based on source, demand is expected to remain high for Red Marine Seaweed during the assessment period. As per Fact.MR, with a market share of around 37.9%, Red Marine Seaweed segment is projected to reach a valuation of US$ 367.2 million in 2033.

Red seaweed contains bioactive compounds, such as polysaccharides, peptides, and phycobiliproteins, which have been linked to potential health benefits. These compounds exhibit antioxidant, anti-inflammatory, immune-modulatory, and anti-cancer properties. Red seaweed consumption has been associated with improved cardiovascular health, enhanced immune function, and potential anti-tumor effects.

Red seaweed-derived products, such as carrageenan and agar, are used as stabilizers, thickeners and gelling agents in the food industry. The extensive use of red seaweed in food applications has contributed to its global demand.

Further, the demand for natural and sustainable beauty ingredients has driven the use of red seaweed in cosmetic formulations.

Leading Marine Seaweed companies are also investing in research and development and advertising their products in order to maximize revenue. They are expanding their Red Marine Seaweed portfolio to attract more and more customers.

How Is Marine Seaweed Used In Regenerative Medicine Industry?

Wound Healing And Skin Regeneration Properties Making Marine Seaweed Popular

The Regenerative Medicine segment is anticipated to thrive at 5.6% CAGR during the projection period. To reach a market valuation of US$ 409.7 million in 2033.

Marine seaweed derived materials serve as a natural scaffolds for tissue engineering. They provide a three dimensional structure that supports cell growth and tissue regeneration. Seaweed-based scaffolds can mimic the extracellular matrix, promoting cell attachment, proliferation, and differentiation.

Seaweed based materials and extracts have shown potential in promoting wound healing and skin regeneration. They can enhance the formation of new blood vessels, stimulate collagen synthesis, and accelerate tissue repair. Seaweed-based dressings and formulations are being explored for applications in chronic wound management and dermatological treatments.

Manufacturers are conducting extensive studies to further understand the bioactivity of marine seaweed derived compounds. They are investigating the mechanisms of action, signaling pathways, and interaction with cells and tissues. These studies help optimize the use of seaweed based materials and formulations for specific regenerative medicine applications, improving their efficacy and safety.

Why is Demand for Marine Seaweed Rising in Cosmetics and Personal Care Industry Globally?

Trendy Skincare Routines Fueling Marine Seaweed Demand

The Cosmetics and Personal Care segment is expected to register a CAGR of 4.3% from 2023 to 2033. The target segment is likely to reach a market value of US$ 357.6 million by the end of 2033.

Asian skincare and beauty regime has gained popularity globally, and seaweed has been a key ingredient in Asian skincare regime for centuries as a tradition.The global influence of Asian beauty trends has led to an increased interest in seaweed-based products and formulations. Consumers are embracing the wisdom of traditional skincare practices that incorporate seaweed for its skin-nourishing and rejuvenating properties.

Several popular brands of Marine Seaweed have established a strong reputation due to heavy marketing and promotions. These strategies have helped them to increase consumer awareness and influence purchasing decisions.

Competitive Landscape

Leading Marine Seaweed manufacturers are constantly launching a new range of products to meet consumer demand. They are also using strategies such as mergers & acquisitions, partnerships, distribution agreements, collaborations, advertisements, and celebrity endorsements to gain a competitive edge in the market.

For instance,

• In 2023, Seaweed Bath Co. launched it’s redesigned packaging and lowered it’s retail pricing.
• In 2022, new premium beauty, wellness brand SeaWeed Naturals was launched.
• In 2022, Cadalmin LivCure extract, developed byCentral Marine Fisheries Research Insititute (CMFRI) launched to combat non-alcoholic fatty liver disease.
• In 2022, A new seaweed farming project was launched in a bid to provide Tamil Nadu's struggling fishing communities with alternative, sustainable livelihoods.
• In 2022, The European Commission, the European Climate, Infrastructure and Environment Executive Agency (CINEA) and a consortium of sustainability consultants and algae organisations are launched a European algae stakeholder platform, called EU4Algae. The aim of the platform was to accelerate the development of a European algae industry and promote algae for nutrition and other uses among consumers and businesses in the Europe.

Scope of the Report

Attributes	Details
Market Size Value in 2023	US$ 862.4 million
Market Forecast Value in 2033	US$ 1513.6 million
Anticipated Growth Rate (2023 to 2033)	5.8%
Forecast Period	2023 to 2033
Historical Data Available for	2018 to 2022
Market Analysis	Volume (MT) and Value (US$ Million)
Key Regions Covered	Latin America, North America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa
Key Countries Covered	Canada, United States, Mexico, Brazil, Chile, Peru, Argentina, Germany, France, Italy, Spain, United Kingdom, Netherlands, Belgium, Nordic, Russia, Poland, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Central Africa, and others
Key Market Segments Covered	Source, End Use Application and Region
Key Companies Profiled	Cargill Inc. Qingdao Gather Great Ocean Algae Industry Group (GGOG) Beijing Leili Marine Bioindustry Inc. (Leili Group) Ocean Harvest Technology Roullier Group CP Kelco Mara Seaweed Acadian Seaplants Limited DuPont de Nemours, Inc. Irish Seaweeds Gelymar

Marine Seaweed Market by Category

• By Source :

  • Brown seaweed
  • Red Seaweed
  • Green Seaweed

• By End Use Application :

  • Food and Beverage
  • Cosmetics and Personal Care
  • Dietary Supplements
  • Regenerative Medicine

• By Region :

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