Global Seaweed Based Packaging Market – Industry Trends and Forecast to 2029

Market Analysis and Size

Government initiatives, advancements in packaging technologies, and the development of new sources for edible packaging solutions have all contributed to the rise in popularity of seaweed based packaging solutions because of the government policies that favour edible packaging solutions and an established base for raw materials in terms of plant-based sources.

Data Bridge Market Research analyses that the seaweed based packaging market was valued at USD 180.78 million in 2021 and is expected to reach the value of USD 613.42 million by 2029, at a CAGR of 16.50% during the forecast period of 2022 to 2029.

Market Definition

Seaweed extracts are a variety of mixtures derived from red algae, brown algae, and green algae. Seaweed is an important source of minerals used to lower cholesterol, appetite, wound dressing, and benefit heart patients. It is also used to produce biofuels such as bio-butanol, which is an alternative fuel to diesel.

Report Scope and Market Segmentation

Seaweed Based Packaging Market Dynamics

Drivers

• Increasing shelf life of products in the absence of additional logistical support

The increasing shelf life of products in the absence of additional logistical support is a major factor driving growth in the global seaweed-based packaging market during the forecast period. Furthermore, the expansion of environmental and sustainability concerns is expected to support the target market's growth. Increased disposable income, rising demand for sustainable sources in delivery and other food services, increased development of new government policies supporting packaging solutions, and the establishment of a base for raw materials such as plant-based sources are all driving market growth.

• The inherent nature of seaweed as a nutrient-rich source of food further supports the use of seaweed in packaging

In the production of edible packaging products, seaweed and algae have emerged as popular raw material sources. The inherent nature of seaweed as a nutrient-rich food source further supports the use of seaweed in packaging applications that do not require additional chemicals. Commercial seaweed farming in Asia Pacific countries has also assisted in supplying the industry with sufficient raw material inputs and is viewed as a sustainable source to meet industry packaging requirements. Seaweed can also be adapted across multiple food and beverage applications and processed into various forms, providing manufacturers with greater flexibility.

Opportunity

Government organisations have made aggressive efforts to regulate the production and use of environmentally friendly products, such as prohibiting the use of specific chemicals and establishing maximum consumption limits. As a result, there is an urgent need to develop bio-based agrochemicals in order to reduce the harmful effects of synthetic agrochemicals on the environment. Furthermore, the advantages of using bio stimulants, such as low toxicity, high specificity, and increased efficiency, have led to increased adoption of such products. As a result, there are numerous bio stimulant market opportunities for the development of bio stimulants in the market.

Restraints

However, the low tensile strength compared to traditional plastics and the secondary packaging requirement will stifle market growth.

This seaweed based packaging market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the seaweed based packaging market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Seaweed Based Packaging Market

As a result of the pandemic's spread, the government has been forced to impose various types of restrictions and lockdowns in various locations around the world. Many businesses have shut down their manufacturing and production facilities. The ban initially reduced demand for edible packaging, but it later increased as the restrictions were eased. People are turning to edible packaging solutions as a healthier and safer alternative because of the gravity of the situation. Furthermore, these solutions are widely used to eliminate the virus's rapid spread sources.

Global Seaweed Based Packaging Market Scope

The seaweed based packaging market is segmented on the basis of source, packaging process and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Source

• Plant
• Animal

Packaging Process

• Antimicrobial
• Nanotechnology
• Electro hydrodynamic
• Coatings
• Microorganisms

.Application

• Food
• Beverages
• Pharmaceutical

Seaweed Based Packaging Market Regional Analysis/Insights

The seaweed based packaging market is analysed and market size insights and trends are provided by country, source, packaging process and application as referenced above.

The countries covered in the seaweed based packaging market report are U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa

In North America, the United States dominates due to increased consumer base as well as high adoption rate in this region. Asia-Pacific is expected to grow as a result of a shift away from single-use plastics and toward seaweed-based alternatives as a key process for reducing packaging waste in the region.

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 like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Seaweed Based Packaging Market Share Analysis

The seaweed based packaging market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to seaweed based packaging market.

Some of the major players operating in the seaweed based packaging market are:

• Tomorrow Machine SE (Sweden)
• Regeno (India)
• JRF Technology, LLC (U.S)
• Evo &Co. (U.S)
• Design Indaba (South Africa)
• Monosol LLC (U.S)
• Amtrex Nature Care Pvt. Ltd. (India)
• Nagase America LLC (U.S)
• Notpla Limited (UK)
• EnviGreen (India)
• Devro (Scotland)
• Mantrose UK Ltd. (UK)

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