New York, NY, Sept. 18, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Commercial Seaweed Market By Product (Brown Seaweed, Red Seaweed, And Green Seaweed), By Form (Leaf, Powdered, And Flakes), By Application (Agriculture, Animal Feed, Human Consumption, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global Commercial Seaweed Market size & share in terms of revenue was valued at USD 8.5 billion in 2022 and it is expected to surpass around USD 10.3 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 2.5% during the forecast period 2023 to 2030.”
What is Commercial Seaweed? How big is the Commercial Seaweed Industry?
Report Overview:
The global commercial seaweed market size was worth around USD 8.5 billion in 2022 and is predicted to grow to around USD 10.3 billion by 2030 with a compound annual growth rate (CAGR) of roughly 2.5% between 2023 and 2030.
The large and complicated marine algae known as commercial seaweeds, also referred to as macroalgae, are extensively utilized for the nutritional, industrial, and agricultural benefits they provide. Because of the high levels of vitamins, protein, and minerals that they contain, they give a variety of dishes an additional nutritional boost. As a result of their anti-inflammatory, anti-microbial, and antioxidant properties, they are excellent components for use in cosmetic goods as well as nutritional supplements. They can be used to make sushi rolls, salads, and soups all at the same time. Hydrocolloids such as agar, alginate, and carrageenan are utilized rather commonly in the food industry as stabilizers and thickeners. They are also put to use in the process of extracting these hydrocolloids.
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Global Commercial Seaweed Market: Growth Factors
Rising levels of health consciousness are the primary factor driving market expansion.
An significant motivator is people's growing awareness of the positive effects that eating seaweed can have on one's health. Seaweed is an excellent source of several important nutrients, including vitamins, minerals, fiber, and antioxidants, and is particularly rich in all of them. In addition, it contains very little calories, which makes it an excellent choice for those who are trying to watch what they eat. Consumers who are worried about their health are attracted to seaweed due to its potential to help with weight control, heart health, and general well-being. Seaweed contains a nutrient called iodine. Therefore, the numerous health benefits that are attributed to the intake of seaweed combined with the rising level of health awareness among individuals are likely to drive the growth of the global commercial seaweed market during the course of the forecast period.
The Commercial Seaweed Market and Its Limiting Factors
The growth of the market is hampered by cyclical and environmental factors.
Seaweed farming is affected by a variety of seasonal and environmental factors, including the temperature of the water, the amount of sunlight, and the quality of the water. A consistent production can be challenging to achieve because of these variables, which can result in variations in both the quantity and quality of the seaweed harvested. Therefore, the seasonal and environmental conditions may be a significant component that acts as a restraint on the expansion of the commercial seaweed business during the time covered by the forecast.
Opportunities Available on the Commercial Seaweed Market
The increasing need for commercial seaweed in the business that produces animal feed presents an intriguing possibility for market expansion.
Animals that live along the coast, such as sheep, cattle, and horses, will eat seaweed, particularly in European countries where brown seaweed is readily available. As a result of the development of meals made from seaweed, consumption of seaweed by animals has become significantly more convenient. Seaweed that has been dried and then powdered into a fine powder is used as an ingredient in animal feed. The species of Ascophyllum nodosum was initially used to make seaweed meal in Norway, which was the first country to do so.
In France, Laminaria Digitata is utilized in the process of producing seaweed feed. In Iceland, both species of the genus Ascophyllum and the genus Laminaria are utilized in the preparation of animal feed, however in the United Kingdom, only ascophyllum seaweed is utilized in this process. When dried, seaweed can be stored for up to a year without losing any of its nutritional value. There are several essential vitamins, trace elements, and minerals that may be found in seaweed. Some of these minerals are potassium, phosphorus, magnesium, calcium, sodium, chlorine, and sulfur. Mammalian development and production are dependent on a variety of physiological, biochemical, and metabolic processes, and these processes require trace amounts of enzymes and proteins to function properly. Enzymes and proteins are involved in a wide variety of these processes. It is required to use ascophyllum meal in order to boost the amount of iodine that is included in the eggs that are produced by chickens. Pigs benefit from eating seaweed since it causes them to generate more meat overall. Seaweed is high in protein. Seaweed is beneficial to the production of milk in both sheep and cattle when it is consumed. Eating seaweed on a regular basis may help farmers increase their income by increasing the amount of milk they produce, as indicated by a number of studies. It is estimated that Norway alone produces over 15,000 tons of seaweed meal every single year. Therefore, as a result of these advantages, commercial seaweeds utilized in the industry that produces animal feed present a profitable opportunity for the expansion of the commercial seaweed market.
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Report Scope
| Report Attribute | Details |
| Market Size in 2022 | USD 8.5 billion |
| Projected Market Size in 2030 | USD 10.3 billion |
| CAGR Growth Rate | 2.5% CAGR |
| Base Year | 2022 |
| Forecast Years | 2023-2030 |
| Key Market Players | Roullier Group, Compo GmbH & Co. KG, Gelymar SA, Biostadt India Limited, E.I. Du Pont de Nemours and Company, Cargill Inc., Acadian Seaplants Limited, Seasol International Pty. Ltd., BrandT Consolidated Inc., Leili Group, West Coast Marine Bio-Processing Corp., Chase Organics GB Limited, CP Kelco, Indigrow Ltd., Travena Organic Solutions Ltd., and others. |
| Key Segment | By Product, By Form, By Application, and By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
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Commercial Seaweed Market: Segmentation Analysis
The world market for commercial seaweed may be broken down into four distinct categories: product, form, application, and geography.
The global market can be broken down into the categories of brown seaweed, red seaweed, and green seaweed, depending on the product. During the time period covered by the forecast, the green seaweed segment is anticipated to have the majority share of the market. Green algae are a rich source of the antioxidant beta-carotene, which research has shown may play a role in lowering one's risk of developing cancer. Due to the increasing demand for green algae to be used in nutritional supplements in the form of capsules and tablets, it is projected that the growth of the sector would quicken over the course of the anticipated period. On the other hand, the brown seaweed segment is anticipated to experience considerable growth over the course of the projection period. This is due to the widespread application of brown seaweed in a variety of industries, such as agriculture, animal feed, and food and beverage. In addition to its use as food, brown seaweed is primarily put to use as a raw material in the extraction of hydrocolloid alginate. In addition to its use as a filler in candy bars and a salad dressing, the chemical is also put to use in syrups as an emulsifier and a thickener.
The global market for commercial seaweed can be broken down into three categories: leaf, powdered, and flakes, depending on the shape. Over the course of the projection period, it is anticipated that the leaf category will hold a considerable portion of the market share. The leaves of seaweed are used in a variety of regional foods from Japan to Indonesia, including sushi, nori, onigiri, and pandan, amongst others. Additionally, seaweed has been a fundamental component of the traditional diets of Iceland, Norway, and Ireland for the past thousand years. Recent years have seen a rise in the popularity of using seaweed in a wide variety of world cuisines, particularly in salads, pickles, and other vegetable complements. Therefore, contributing to the expansion of the segment.
The global market for commercial seaweed can be broken down into the submarkets of agricultural, animal feed, human consumption, and others, according on the application. Over the course of the projected period, it is anticipated that the segment dealing with consumption by humans would lead the market. The expansion can be ascribed to a number of factors, including an increase in the demand from customers for more organic and natural food and beverage goods, as well as an increased awareness of the benefits that nutritional enrichment and seaweed provide for health. In addition to this, there is a greater demand for seaweeds intended for direct human consumption in the Asia Pacific region, particularly in China, Indonesia, South Korea, Malaysia, Japan, and the Philippines. This is because of the cultural significance of these nations. As a result, driving the growth of the segment throughout the course of the anticipated term.
The global Commercial Seaweed market is segmented as follows:
By Product
- Brown Seaweed
- Red Seaweed
- Green Seaweed
By Form
- Leaf
- Powdered
- Flakes
By Application
- Agriculture
- Animal Feed
- Human Consumption
- Others
Browse the full “Commercial Seaweed Market By Product (Brown Seaweed, Red Seaweed, And Green Seaweed), By Form (Leaf, Powdered, And Flakes), By Application (Agriculture, Animal Feed, Human Consumption, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030" Report At https://www.zionmarketresearch.com/report/commercial-seaweed-market
Competitive Landscape
Some of the main competitors dominating the global Commercial Seaweed market include -
- Roullier Group
- Compo GmbH & Co. KG
- Gelymar SA
- Biostadt India Limited
- E.I. Du Pont de Nemours and Company
- Cargill Inc.
- Acadian Seaplants Limited
- Seasol International Pty. Ltd.
- BrandT Consolidated Inc.
- Leili Group
- West Coast Marine Bio-Processing Corp.
- Chase Organics GB Limited
- CP Kelco
- Indigrow Ltd.
- Travena Organic Solutions Ltd.
Key Insights from Primary Research:
- According to the analysis shared by our research forecaster, the Commercial Seaweed market is likely to expand at a CAGR of around 2.5% during the forecast period (2023-2030).
- In terms of revenue, the Commercial Seaweed market size was valued at around US$ 8.5 billion in 2022 and is projected to reach US$ 10.3 billion by 2030.
- The commercial seaweed market growth is driven by the increasing demand for commercial seaweed from various end-use industries such as food & beverages, agriculture, and others.
- Based on the product, the green seaweed segment is expected to dominate the market over the forecast period.
- Based on the form, the leaf segment is expected to hold a significant market share over the forecast period.
- Based on the application, the human consumption segment is expected to lead the market over the forecast period.
- Based on region, the Asia Pacific is expected to dominate the market during the forecast period.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Commercial Seaweed industry?
- What are the main driving factors propelling the Commercial Seaweed Market forward?
- What are the leading companies in the Commercial Seaweed Industry?
- What segments does the Commercial Seaweed Market cover?
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Key Offerings:
- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Product, By Form, By Application, and By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis:
The Asia Pacific is expected to dominate the market during the forecast period
The Asia Pacific is expected to dominate the global commercial seaweed market during the forecast period. Due to its having the largest population in the globe, the region has a bigger market share. Additionally, there is a huge increase in demand for commercial seaweed as a result of consumers' growing knowledge. China is the country that produces the most seaweed, followed by Japan and the Republic of Korea. But seaweed production is already widespread across all continents. Seaweeds are utilized in many different cuisines in China because they provide some nourishment. Seaweeds provide cuisine with new textures, tastes, and a pleasant scent. As a result, seaweed demand is rising throughout the Asia-Pacific region.
On the other hand, North America holds a significant market share over the forecast period. The main reason for this is the increasing popularity of food items made from seaweed in the region. Another factor anticipated to drive market expansion is the multiple benefits seaweed extracts provide for the skin, including hydration, anti-aging, and skin-lightening properties.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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