Asia-Pacific Commercial Seaweed Market, By Product (Red Seaweed, Brown Seaweed, Green Seaweed), Form (Liquid, Powdered, Flakes), Cultivation (Onshore Cultivation, Offshore Cultivation, Nearshore Cultivation, IMTA Cultivation, Saline Aquaculture), End-User (Food & Beverages, Pharmaceuticals, Agriculture, Animal Feed, Cosmetics & Personal Care, Biofuels, and Others), Country (China, Japan, South Korea, Thailand, Australia, Malaysia, Philippines, Singapore, India, Indonesia, Rest of Asia Pacific ) Industry Trends and Forecast to 2029
The Asia-Pacific commercial seaweed market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 8.0% in the forecast period of 2022 to 2029 and is expected to reach USD 15,985.59 million by 2029. The demand for commercial seaweed is high; hence revenue generation is also high, which may help the market to grow in the region.
Commercial seaweed is the microalgae that grow in the sea, irrespective of marine water or freshwater. They are the food source for life in the ocean and can be found in three colors red seaweed, green seaweed, and brown seaweed based on the pigments present. Seaweeds grow mostly along the rocky shorelines all around the world. Commercial seaweed is an enriched source of proteins, vitamins, minerals, fibers, iodine, and antioxidants. Additionally, commercial seaweed is known to provide health benefits such as decreasing the risk of heart disease, diabetes, and goiter and improving gut health.
The Asia-Pacific commercial seaweed market is gaining significant growth due to increasing demand for seaweed in various industries such as pharmaceuticals, personal care, agriculture, domestic, animal feed, food & beverages. However, the high amount of iodine and heavy metals are expected to restrain the market growth of commercial seaweeds during the forecasted period. Emerging applications of seaweed in various industries may create opportunities in the market, and high prices of seaweed may challenge the market growth.
This Asia-Pacific commercial seaweed market report provides details of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographical expansions, and technological innovations in the market. To understand the analysis and the market scenario, contact us for an Analyst Brief; our team will help you create a revenue impact solution to achieve your desired goal.
The Asia-Pacific commercial seaweed market is segmented based on product, form, cultivation, and end-user. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the Asia-Pacific commercial seaweed market is segmented into red seaweed, green seaweed, and brown seaweed. In 2022, the red seaweed segment is expected to have the largest market share due to factors such as increasing awareness about the health benefits offered by the red seaweed.
- On the basis of form, the Asia-Pacific commercial seaweed market is segmented into liquid, powdered, and flakes. In 2022, the powder segment is expected to have the largest market share due to the growing popularity of the powder segment in various food industries.
- On the basis of cultivation, the Asia-Pacific commercial seaweed market is segmented into onshore cultivation, offshore cultivation, nearshore cultivation, IMTA cultivation, saline aquaculture. In 2022, the offshore cultivation segment is expected to have the largest market share owing to the factors such as rising demand for commercial seaweed through the offshore method in the region.
- On the basis of end-user, the Asia-Pacific commercial seaweed market is segmented into food & beverages, pharmaceuticals, agriculture, animal feed, cosmetics & personal care, biofuels, and others. In 2022, the food & beverages segment is expected to have the largest market share owing to the factors growing popularity of commercial seaweed in various food and beverage industries.
Asia-Pacific Commercial Seaweed Market Country Level Analysis
The Asia-Pacific commercial seaweed market is analyzed, and market size information is provided by country, product, form, cultivation, and end-user.
The countries covered in the Asia-Pacific commercial seaweed market are China, Japan, South Korea, Thailand, Australia, Malaysia, Philippines, Singapore, India, Indonesia, Rest of Asia Pacific.
China is expected to dominate in the Asia-Pacific commercial seaweed market due to growing seaweed cultivation. Japan is projected to dominate due to growing awareness about the health benefits of commercial seaweed. South Korea is expected to dominate due to the increase in the adoption of seaweed for hydrocolloids.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.
Rising Demand of Asia-Pacific Commercial Seaweed in Food Industry
The Asia-Pacific commercial seaweed market also provides you with detailed market analysis for every country's growth in the industry with sales, components sales, the impact of technological development in commercial seaweed, and changes in regulatory scenarios with their support for the Asia-Pacific commercial seaweed market. The data is available for the historical period 2011-2019.
Competitive Landscape and Asia-Pacific Commercial Seaweed Market Share Analysis
The Asia-Pacific commercial seaweed market competitive landscape provides details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, India presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points are only related to the companies' focus on the Asia-Pacific commercial seaweed market.
Some of the major players operating in the Asia-Pacific commercial seaweed market are Marcel Carrageenan, KwangcheonKIm, Earaybio, Kai Ho "Oceans Treasure," Aushadh Limited., BY VIET DELTA, Shore Seaweed, ALGOLESKO, Raw Seaweeds, Cargill, Incorporated, Pacific Harvest, Kelp Industries Pty, Ltd., among others.
Many expansions are also initiated by the companies worldwide, which are also accelerating the growth of the Asia-Pacific commercial seaweed market.
- In August 2020, KwangcheonKIm launched 'it's on jaerae seaweed' made with Kwangcheonkim. The Korean Yakult has a savory taste and aroma from the jeareae seaweed from the KwangcheonKlm brand. With this launch, the company has enhanced its products to the customers