Global Commercial Seaweeds Industry: Key Statistics and Insights in 2024-2032
Commercial Seaweeds Industry
Summary:
- The global commercial seaweeds market size reached USD 21.4 Billion in 2023.
- The market is expected to reach USD 42.3 Billion by 2032, exhibiting a growth rate (CAGR) of 7.9% during 2024-2032.
- Asia Pacific leads the market, accounting for the largest commercial seaweeds market share.
- Red seaweeds account for the majority of the market share in the product segment due to their use in the cosmetic industry.
- Liquid holds the largest share in the commercial seaweeds industry.
- Human consumption remains a dominant segment in the market owing to the growing demand for seaweed-based supplements among the masses.
- The rising awareness about sustainability is a primary driver of the commercial seaweeds market.
- The growing demand for healthy food products is reshaping the commercial seaweeds market.
Industry Trends and Drivers:
- Rising awareness about sustainability:
Seaweeds are cultivated through sustainable and eco-friendly methods. They require minimal freshwater and do not rely on arable land, reducing the environmental footprint compared to traditional agriculture. Seaweeds can absorb carbon dioxide (CO2) from the atmosphere during their growth. This carbon sequestration potential is increasingly recognized as a valuable contribution to mitigating climate change. In addition, seaweed farming does not compete with land-based agriculture, which can help alleviate pressure on limited arable land resources, addressing global food security concerns.
- Growing demand for healthy food products:
Seaweeds are rich in vitamins, iodine, calcium, iron, and antioxidants. These nutritional benefits align with increasing preferences of people for healthier food options. Seaweeds are low in calories and fat, making them an attractive choice for individuals looking to manage their weight and maintain a balanced diet. They are naturally plant-based and vegan, making them a suitable choice for those following vegetarian or vegan diets. As these dietary preferences are becoming more popular, the demand for seaweed-based products is increasing.
- Innovations in seaweed-based products:
Ongoing innovations are leading to a wide range of seaweed-based products, including snacks, condiments, cosmetics, supplements, and biodegradable packaging. This diversification attracts a broader consumer base. Seaweed-based supplements and health products are gaining traction due to their potential health benefits. Innovations in these products cater to consumers seeking natural remedies and nutritional support. Besides this, chefs and food manufacturers are exploring creative ways to incorporate seaweeds into culinary dishes, introducing unique flavors and textures to the market.
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Commercial Seaweeds Market Report Segmentation:
Breakup By Product:
- Brown Seaweeds
- Red Seaweeds
- Green Seaweeds
Red seaweeds represent the largest segment as they are widely used in the production of carrageenan, a versatile ingredient with various applications in the pharmaceutical industry.
Breakup By Form:
- Liquid
- Powdered
- Flakes
Liquid accounts for the majority of the market share due to the popularity of liquid seaweed extracts used as fertilizers in agriculture and plant growth enhancers.
Breakup By Application:
- Agriculture
- Animal Feed
- Human Consumption
- Others
Human consumption exhibits a clear dominance in the market owing to the increasing demand for seaweed-based food products and snacks.
Breakup By Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Asia Pacific enjoys the leading position in the commercial seaweeds market on account of its abundant seaweed resources and increasing practices of seaweed farming.
Top Commercial Seaweeds Market Leaders:
The commercial seaweeds market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:
- Acadian Seaplants Limited
- Algaia SA (Maabarot Products Ltd.)
- Biostadt India Limited
- BrandT Consolidated Inc.
- Cargill Incorporated
- COMPO Expert GmbH
- CP Kelco U.S. Inc (J.M. Huber Corporation)
- DuPont de Nemours Inc.
- Gelymar S.A.
- Indigrow Ltd.
- Lonza Group AG
- Seasol International Pty. Ltd.
- TBK Manufacturing Corporation
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