Seaweed Algae Market

Seaweed Algae Market Analysis on Key segments which are Product Type (Brown Algae, Green Algae, Red Algae), By Application, By Extraction Method and By Region - Global Market Insights 2023 to 2033

Analysis of Seaweed Algae Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Seaweed Algae Market Outlook (2023 to 2033)

The global seaweed algae sales are estimated to expand from US$ 15,000.0 million in 2023 to US$ 20,345.0 million by 2033. Over the next ten years (2023 to 2033), global Seaweed Algae sales are likely to soar at a notable CAGR of 3.1%.

Report Attributes Key Insights

Estimated Global Seaweed Algae Market Size (2023E)

US$ 15,000.0 million

Projected Seaweed Algae Market Value (2033F)

US$ 20,345.0 million

Value-based CAGR (2023 to 2033)

3.1%

Top 3 Countries’ Value

US$ 7,335.0 million

Top 3 Countries’ Share

48.9%

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Key Trends Listed by Fact.MR

  • Brown seaweed has a larger commercialization as compared to red and green owing to large amount of supply and availability of the same
  • Domestic production of seaweed has increased over the past couple of years owing to increased end use applications of seaweeds across sectors
  • There is a general increase in the farming and harvesting of seaweed due to increasing awareness of its many applications and sustainable production
  • Availability of edible seaweed in Asian countries is higher than that of other regions which provided the manufacturers based out of Asia to expand their consumer base outside their local market as demand remains high
  • Seaweeds are consumed as sea vegetables in Asian countries however in western and other regions they are used as gelling or thickening agents
  • Seaweed products are easy to prepare and are added to soups, vegetables, salads and more
  • Seaweeds in China, Japan and South Korea are purchased as a dried product as it has a longer shelf life
  • Seaweed are considered as organic alternatives to conventional additives and preservatives and hence have ample uses in various industries
  • Versatility of dried seaweed as an ingredient in a range of dishes including stew and stir-fried recipes
  • Increasing applications of seaweeds in cosmetics to manufacture seaweed face masks, creams and other skincare products
  • Seaweeds are rich in protein source and are hence used as alternative protein sources, they are increasingly used to create plant-based protein sources
  • There are studies that suggest the consumption of edible seaweeds leads to prevention of certain diseases like diabetes, hypertension, inflammation, arthritis, and cardiovascular ailments

Seaweeds are used as an alternative protein from the 5th century. Asian regions like China, South Korea, and Japan were the first countries to tap on the potential of seaweeds as food. With globalization the world has seen a diversity in consumers, which has created demand for seaweed algae across the globe.

The production of edible seaweed for human, biofuels and animals could bring about a trans formal change in the path towards sustainability in the near future. A recent study conducted by Fact.MR suggests that the current growth rate of seaweed farming has gone up to ~14% year on year due to the increasing awareness about sustainability and economically viable solutions to modern day problems.

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

According to the Fact.MR, global Seaweed Algae sales grew at a CAGR of 1.2% from 2018 to 2022. For the next ten years, the worldwide market for Seaweed Algae is forecast to progress at 3.1% CAGR over the next decade of 2023 to 2033.

In Asia, consumption of seaweed is not a very novel concept. Known for its high protein content they are used in soups and stews and various other dishes to enhance the flavour and texture of the dish. Currently in Asia, there are three species in particular that are easy to farm and have wide range of applications in food and beverage, pharmaceuticals and cosmetics industry. They are, Nori (Porphyra), Kombu (Saccharina and Laminaria) and Wakame (Undaria). Additionally algae hydrocolloids are used in many type of foods because of their thickening and gelling properties. They are used in the food and beverage sector particulary in, dairy products, candy, beverages, bakery, processed meat products, jams and sauces.

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Adjacent Markets Overview

Marine By-Products Market :

Attributes Marine By-Products Market

CAGR (2023 to 2033)

4.9%

Market Value (2033)

~US$ 43,382.8 million

Growth Factor

Increased availability of raw marine ingredients for fishmeal, fish oil and other related products has increased many folds. This will help manufacturers develop new by- products

Opportunity

Marine by-products are a more economically viable and can eliminate deficiencies like malnutrition in underdeveloped countries

Key Trends

In recent years, revolutionary green technologies such as UAE (ultrasound-assisted extraction) and SFE (supercritical fluid extraction) have emerged as viable alternatives to traditional methods.

Marine Collagen Market :

Attributes Marine Collagen Market

CAGR (2023 to 2033)

7.5%

Market Value (2033)

~US$ 197.4 million

Growth Factor

Growing demand for anti-aging ingredients in cosmetics industry is expected to drive the demand for marine collagen in the near future

Opportunity

Marine collagen market is still in its infancy and hence there are many manufacturers currently investing heavily of research and development of unique marine sourced products that will serve as sustainable and affordable alternatives to conventional and expensive solutions

Key Trends

Consumer demand for premium products. Owing to the high demand for premium, hand-made and artisanal products the demand for marine collagen is expected to increase over the next decade

Fish Silage Market :

Attributes Fish Silage Market

CAGR (2023 to 2033)

10.2 %

Market Value (2033)

~US$ 780.9 million

Growth Factor

Fish silage provides a number of benefits over fish meals such as being virtually independent of scale, low investment even in large production and more

Opportunity

Fish silage in animal feed has showing remarkable results in terms of growth, health and conditioning of broilers and pigs

Key Trends

There is a surge in demand for animal feed alternatives which are more sustainable. Additionally demand for cost-effective feed ingredients is also on the rise.

Country-wise Insights

North America - CAGR

Country CAGR (%)
United States 2.1%

Europe - CAGR

Country CAGR (%)
Germany 2.7%

Asia Pacific - CAGR

Country CAGR (%)
Japan 2.3%
India 4.5%
China 3.5%

North America - BPS Analysis

Country BPS Analysis
United States -120

Europe - BPS Analysis

Country BPS Analysis
Germany -206

Asia Pacific - BPS Analysis

Country BPS Analysis
Japan -50
India -350
China 148

North America - Market Value (2033)

Country Market Value (2033)
United States US$ 5,187.9 million

Europe - Market Value (2033)

Country Market Value (2033)
Germany US$ 1,729.3 million

Asia Pacific - Market Value (2033)

Country Market Value (2033)
Japan US$ 3,377.2 million
India US$ 1,200.3 million
China US$ 590.0 million

Why are China expected to be the most attractive regions for the consumption of sea weed?

As per Fact.MR, China Seaweed Algae market is expected to reach a valuation of around US$ 590.0 million by 2033 and is expected to grow at a lucrative CAGR of 3.5% over the next decade.

Growing consumer knowledge and increasing urbanization is expected to drive the demand for seaweed consumption in China. Modern day consumers are more aware of the food they consume and are hence inclined towards a healthier and nutritional approach towards their food consumption habits. Seaweed algae is sustainable, nutritionally rich food which contains an abundance of protein content, dietary fibres, minerals and vitamins.

Seaweed consumption in China is relatively lower than that in Japan and Korea. However, due to rise in the awareness of the use of seaweed in multiple industries. There is an increase in the overall demand for seaweed in China. Seaweed extracts are increasingly used as food additives as a thickening agent, gelling agent, stabilizer and emulsifier in processed food products.

The demand for processed food is on the rise due to increase in on-the-go snacking and working population. On the go snacking has resulted in a surge in demand for processed food that is ready-to-eat. Extensive use of seaweed in these foods is indirectly driving the demand for seaweed algae. Additionally increased per capita income and spending power among consumers is also one of the key factors driving the demand for seaweed algae in China. Consumers today want quality and transparency over everything. They are even willing to pay a premium price for products that are sustainable and environment friendly.

Drivers of the United States Seaweed Algae Market

The growing use of seaweed in Pharmaceutical Industry is driving the demand for seaweed algae in U.S.

According to Fact.MR analysis, the United States Seaweed Algae industry is poised to exhibit a CAGR of 2.1% during the assessment period. By 2033, the United States market size is expected to reach US$ 5,187.9 million by 2033.

Seaweed is a valuable source of bioactive compounds such as sulphated polysaccharides. The utility of polysaccharides in pharmaceutical industry has been studied for several years owing to its potential application in drug delivery systems. Sulfated polysaccharides found in seaweed algae like carrageenan, ulvan and fucoidan have been used to formulate a number of drugs, medicines and functional foods. In the U.S. in particular, prevalence of diseases like diabetes and cancer is very high which in turn results in a a high demand for seaweed algae in the U.S.

Demand Outlook for the Seaweed Algae in India Market

Easy availability and demand for seaweed in India is expected to drive the Indian Seaweed Algae market

Seaweed Algae demand in India is anticipated to rise at a steady CAGR of 4.5% during the forecast period from 2023 to 2033 and is expected to reach a valuation of US$ 1,200.3 Mn by 2033

In India there are ~844 different species of seaweed algae. India processes 434 species of red algae, 216 species of green algae and 194 species of brown algae. Seaweed algae are considered as the best fertilizer that helps in enhancing productivity and yield of the soil. It is also used as a manure in soil, soil conditioner and as animal feed.

Seaweed can be farmed and used as biofules, which is being aggressively promoted by the Indian government as an alternative. A switch to seaweed-based energy has the potential to reduce the carbon emissions that are triggered by the excessive use of fossil fuels. Moreover, seaweed farming can help in reducing the acid content in water and can also help in cultivating fish populations. This will help in the reduction of sea-food related diseases and infections.

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Category-wise Insights

What is driving the higher demand for Red seaweeds in comparison to green and brown seaweeds?

Red seaweeds contain algal proteins phycobiliproteins which have antioxidant properties which are beneficial in the prevention of neuro diseases caused by oxidative deficiency as well as in treatment of cancer and gastric ulcers. They also contain omega-6 and omega 3 fatty acids that prevent cardio vascular diseases like and also diabetes. These diverse and useful applications of red algae in the medical and pharmaceutical sector have resulted in their high demand across the globe.

Besides this, seaweeds are a good source of vitamins and minerals and other essential nutrients. The growing awareness in consumers about the increasing environmental pollution caused by increasing carbon emissions and excessive use of fossil fuels have also prompted them to switch to organically, and sustainably sourced products for consumption. Use of seaweed in multiple food and beverage industries as an alternative to conventional protein sources is a growing trend and the seaweed market is hence expected to gain momentum over the next decade

Competitive Landscape

The competitive landscape of Seaweed Algae is dynamic and constantly evolving as the demand for sustainable and cost-effective feed options continues to grow. Several factors influence the competitiveness of Seaweed Algae, including availability, cost, nutritional value, market acceptance, and regulatory considerations.

Scope of the Report

Attributes Details

Market Size Value in 2023

US$ 15,000.0 million

Market Forecast Value in 2033

US$ 20,345.0 million

Anticipated Growth Rate (2023 to 2033)

3.1% CAGR

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

Ingredient type, Nature, Form, Processing Type, Packaging Format, Sales Channel, and Region

Key Companies Profiled

  • Gelymar
  • Tasmanian Seafood Seduction
  • PhycoHealth
  • Sea Forest
  • Australian Seaweed Institute
  • Marinova
  • Great Southern Ocean
  • The Seaweed Company
  • Acadian Seaplants
  • Qingdao Gather Great Ocean Algae Industry Group
  • Roquette Klotze GmbH
  • Cargill, Incorporated
  • Acadian Seaplants
  • Qingdao Seawin Biotech Group Co. Ltd.
  • CP Kelco U.S., Inc.
  • AquAgri Processing Pvt. Ltd
  • Algaia
  • BASF SE

Seaweed Algae Market by Category

  • By Product Type :

    • Brown Algae
    • Green Algae
    • Red Algae
  • By End Use Application :

    • Food & Beverage Processing
    • Pharmaceuticals
    • Dietary Supplements and Nutraceuticals
    • Personal Care and Cosmetics
    • Animal Feed
    • Aqua Feed
    • Pet Food
    • Retail
  • By Extraction Method :

    • Conventional
    • Current Method
  • By Region :

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

- FAQs -

How big is the global Seaweed Algae industry?

The Seaweed Algae market is estimated to reach a valuation of about US$ 15,000.0 million in 2023.

What is the growth projection for the worldwide Seaweed Algae industry by 2033?

The global Seaweed Algae market value is projected to reach US$ 20,345.0 million by 2033.

At what rate is global demand for Seaweed Algae expected to increase from 2023 to 2033?

Global Seaweed Algae demand is expected to increase at a CAGR of around 3.1% through 2033.

What was the historical CAGR for the Seaweed Algae Market?

Global demand for Seaweed Algae registered a CAGR of 1.2% historically, during 2018 to 2022.

Why is the sale of commercial seaweed growing in Japan?

Japan has a huge demand for algae as it has been consuming seaweed for centuries. Algae is used extensively in Japan in dishes like sushi, miso soups, stews and salads due to its high nutritional properties and availability

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