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Commercial Seaweeds Market Overview
Commercial Seaweed Market Size is Anticipated to Reach USD 16.9 billion in 2028 and Registering CAGR of 10.10% from 2021 to 2028. In the food sector, animal feed, medicines, and other industries, the use of hydrocolloids like carrageenan, alginate, and agar has expanded in recent years. This has resulted in an increase in algal production and a surge in commercial seaweed demand. Furthermore, the health benefits linked to the consumption of macro algal products are encouraging consumers to include commercial algae in their regular diet. People all around the world have become more aware of environmental challenges in recent years, which has led to the creation of solutions to decrease environmental stress. Growing consumer knowledge of environmental issues has resulted in substantial shifts in consumer tastes, driving demand for sustainable products. Because macro algae is a fast-growing, nutrient-rich alga that absorbs carbon dioxide and releases oxygen, it is considered sustainable. The increased popularity of veganism and plant-based goods that support animal welfare is also contributed to the growing demand for macro algae cultivation.
Commercial Seaweed Market Segmentation
The global commercial seaweeds market has been segmented based on type, method of harvesting, form, application and region.
By type, the global commercial seaweeds market has been classified as red seaweeds, brown seaweeds, and green seaweeds.
By method of harvesting, the global commercial seaweeds market has been classified as aquaculture and wild harvesting.
On the basis of form, the global commercial seaweeds market has been segmented into liquid, powder, flakes, and others..
On the basis of application, the global commercial seaweeds market has been divided into food & beverages, animal feed, and agriculture. Food & beverages segment is further bifurcated into convenience food, dairy & frozen desserts, meat, poultry, & seafood, bakery & confectioneries, and others.
The global commercial seaweeds market has been studied with regard to four key regions—North America, Europe, Asia-Pacific, and the rest of the world.
The North American Commercial Seaweeds market has further been segmented into the US, Canada, and Mexico. The European Commercial Seaweeds market has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe. The Commercial Seaweeds market in Asia-Pacific has been divided into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The Commercial Seaweeds market in the rest of the world has been segmented into South America, the Middle East, and Africa.
Regional Market Summary
Global Commercial Seaweeds Market Share (%), by Region, 2020
Type: Secondary Types and MRFR Analysis
Asia-Pacific is expected to dominate the commercial seaweeds market during the forecast period. The region’s dominance can be attributed to various factors such as the presence of several market players, increasing awareness regarding health benefits of commercial seaweeds among consumers. commercial seaweeds provide several health benefits, which leads to its usage in preventing heart diseases, diabetes and helps in maintaining gut health. Increasing usage of commercial seaweeds as vegetable and there is a surge in usage of seaweeds as a binding and thickening agent in various bakery products. Thus, expecting commercial seaweeds to render a significant share of the market in Europe during the upcoming years. However, North America is anticipated to register the highest CAGR due higher inclination of consumers towards trying commercial seaweeds, as the seaweeds are used as bio stimulant extracts for crops and also as feed supplements.
- February 2022: TakeAir, a Belgian biotechnology company specializing in indoor air quality enhancement, has announced the launch of a groundbreaking new Biospheric Air Treatment technology that kills airborne viruses (such as COVID-19) in buildings. The "Sea Aeration" technique from TakeAir works by incorporating a designed bio-compound produced from seaweed and marine organisms into a building's ventilation system. In lab tests, the bio-compound has been shown to kill coronaviruses like COVID-19 as well as other respiratory pathogens like influenza viruses.
- February 2022: To strengthen the Kingdom's fisheries industry, the country's seaweed and algae supplies are being expanded by KAUST, Saudi Arabia. The postgraduate research and teaching facility, located 100 kilometers north of Jeddah, is working on projects that will help the Kingdom achieve its goal of attracting over USD 4 billion in foreign and domestic investment into the fishing industry as part of its Vision 2030 economic diversification plan.
Global Commercial Seaweeds Market, by Type
- Red Seaweeds
- Brown Seaweeds
- Green Seaweeds
Global Commercial Seaweeds Market, by Method of Harvesting
- Wild Harvesting
Global Commercial Seaweeds Market, by Form
Global Commercial Seaweeds Market, by Application
- Food & Beverages
- Convenience Food
- Dairy & Frozen Desserts
- Meat, Poultry, & Seafoods
- Bakery & Confectioneries
- Animal Feed
Global Commercial Seaweeds Market, by Region
- North America
- Rest of Europe
- Australia and New Zealand
- Rest of Asia-Pacific
- Rest of the World (RoW)
- South America
- Middle East
Key Players in the Global Commercial Seaweeds Market
- Cargill, Incorporated (US)
- DowDuPont Inc. (US)
- Algaia SA (France)
- Compañía Española de Algas Marinas S.A. (Spain)
- Extractos Naturales Gelymar S.A.(Chile)
- Acadian Seaplants Limited (Canada)
- CP Kelco U.S., Inc. (US)
- Biostadt India Limited (India)
- COMPO EXPERT GmbH (Germany)
- Compagnie Financiere et de Participations Roullier S.A. (France)
- Commercial Seaweeds producers/processors
- Food & beverage manufacturers
- Raw material suppliers and distributors
- Traders, exporters, and importers
Frequently Asked Questions (FAQ) :
Food & beverages is the largest application segment in the global commercial seaweeds market.
Increasing consumption as a biomass for biofuel production and augmenting demand for organic & natural ingredients, are the major tailwinds pushing the growth of the global commercial seaweeds market.
Lack of knowledge about the benefits, are major growth impeders for the global commercial seaweeds market.
Asia Pacific holds the largest share in the global commercial seaweeds market, followed by Europe and North America, respectively.
Cargill, Incorporated (US), Algaia SA (France), DowDuPont Inc. (US), Compañía Española de Algas Marinas S.A. (Spain), Acadian Seaplants Limited (Canada), Extractos Naturales Gelymar S.A.(Chile), CP Kelco U.S., Inc. (US), Biostadt India Limited (India), Compagnie Financiere et de Participations Roullier S.A. (France), and COMPO EXPERT GmbH (Germany), are some of the top players operating in the global commercial seaweeds market.
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