Commercial seaweed refers to microalgae that thrive in both marine and freshwater environments. Found in various hues like red, green, and brown, seaweeds proliferate along rocky coastlines globally. Enriched with proteins, vitamins, minerals, fibers, iodine, and antioxidants, commercial seaweed offers a wide array of nutritional benefits. Its consumption is linked to reduced risks of heart disease, diabetes, and goiter and promotes gut health. With its abundant health-promoting properties, commercial seaweed serves as a valuable source of nourishment and well-being for individuals worldwide.
According to Data Bridge Market Research, the Commercial Seaweed Market is expected to reach USD 26,900.88 million by 2029. The market is expected to grow with a CAGR of 7.3% in the forecast period of 2022 to 2029.
“Increasing demand for hydrocolloids in food and beverages industry boosts the market’s growth”
The commercial seaweed market is witnessing a significant growth driven by the rising demand for seaweed-derived hydrocolloids in the food and beverages industry. Hydrocolloids like carrageenan, agar, and alginate, sourced from seaweed, offer unique properties that enhance various food products' texture, stability, and sensory experience. These hydrocolloids find wide-ranging applications in dairy, confectionery, bakery, and meat products. The market growth is fuelled by the increasing consumer preference for natural and plant-based ingredients, as well as the functional benefits provided by seaweed-derived hydrocolloids, solidifying the position of the commercial seaweed market and boosting the market’s growth.
What restraints the growth of the commercial seaweed market?
“Environmental risk associated with the seaweed”
The growth of the commercial seaweed market is restrained by environmental risks associated with seaweed cultivation. Factors such as habitat destruction, overharvesting, and the potential for pollution from farming practices pose significant challenges. These environmental concerns impact the sustainability and long-term viability of seaweed production. Additionally, regulatory frameworks and compliance requirements related to environmental conservation restrain the market’s growth.
Segmentation: Commercial Seaweed Market
The commercial seaweed market is segmented on the basis of product, form, cultivation, and end-user.
- On the basis of product, the commercial seaweed market has been segmented into red seaweed, green seaweed, and brown seaweed.
- On the basis of form, the commercial seaweed market has been segmented into liquid, powdered, and flakes.
- On the basis of cultivation, the commercial seaweed market has been segmented into onshore cultivation, offshore cultivation, nearshore cultivation, IMTA cultivation, saline aquaculture.
- On the basis of end-user, the commercial seaweed market has been segmented into food and beverages, pharmaceuticals, agriculture, Animal Feed, cosmetics and personal care, Biofuels, and others.
Regional Insights: Asia-Pacific is expected to hold the highest market share for the commercial seaweed market
In Asia-Pacific, China is expected to hold the highest market share the country has witnessed a significant rise in seaweed cultivation, accompanied by an increased demand for seaweed among various end users. This growing trend of seaweed cultivation in the country is driven by factors such as favorable environmental conditions and increasing awareness of the nutritional benefits of seaweed.
In Europe, France is expected to dominate the market as the consumers are well-informed about the advantages offered by commercial seaweed, leading to a heightened awareness and appreciation for its benefits.
In North America, the U.S. is the highest market share as the pharmaceutical and personal care industries are experiencing a growing utilization of seaweed, contributing to its increasing applications in these sectors.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-commercial-seaweeds-market
Recent Developments
- In November 2021, Cascadia Seaweed partnered with Tsawout First Nation to farm seaweed off James Island. This helped the company increase seaweed production to meet the growing demand for seaweeds.
- In November 2021, Acadian SeaPlus launched a new Chondracanthus chamissoi seaweed product to customers across the global market. It is a red algae species that has applications in a 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 launched a Red Seaweed Promise program to harvest and cultivate red seaweed in a sustainable way to ensure a long-term sustainable supply chain to support local communities and conserve the marine environment.
The Prominent Key Players Operating in the Commercial Seaweed Market Include:
- Cargill, Incorporated (U.S.)
- DuPont (U.S.)
- Marcel Carrageenan (U.K.)
- AtSeNova (U.S.)
- Beijing Leili Agricultural Co., Ltd (China)
- Pacific Harvest (New Zealand)
- Irish Seaweed (Ireland)
- Ocean Rainforest (Denmark)
- Indigrow Ltd (U.K.)
- Seaweed Solutions AS (Norway)
- Maine Coast Sea Vegetables (U.S.)
- Kelp Industries, Pty, Ltd. (Australia)
- Organic Irish Seaweed-Emerald Isle (Ireland)
- Green Ocean Farming UK (U.K.)
- Nantong Xinlang Seaweed & Foods Co., Ltd. (China)
Above are the key players covered in the report, to know about more and exhaustive list of commercial seaweed market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Commercial Seaweed Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
