Wilmington, Delaware, United States, June 29, 2022 (GLOBE NEWSWIRE) -- The global commercial seaweed market is estimated to register growth at a CAGR of 7.0% during the forecast period 2022-2031, states a study by Transparency Market Research (TMR).
Commercial seaweed contains low calories, higher content of nutrients, vitamins and minerals including vitamin K and folic acid. Hence, they offer a wide range of health advantages including improved immune system and cardiovascular performance. These factors are expected to drive the commercial seaweed market growth during the forecast period.
The demand for different seaweed-based culinary items is being increasing around the world in the recent years. This aside, varied seaweed extracts including carrageenan and agar are gaining traction globally. These factors are resulting into promising business opportunities in the global commercial seaweed market. Hence, the commercial seaweed market share is estimated to reach a value of US$ 31.1 Bn by 2031.
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Commercial Seaweed Market: Key Findings
- Farmed seaweeds are available in different shapes and colors. The demand for different types of seaweed derivatives including carrageenan, agar, and alginate is being increasing in the recent years. These seaweeds show strong biochemical properties and are derived from hydrocolloids, notes a TMR study on the commercial seaweed market. Hence, they are suitable for use in the pharmaceutical industry. For instance, alginate seaweed is being utilized in the pharmaceutical industry as dressing for wounds and a technique to encapsulate medicine and cells. Hence, increasing demand for commercial seaweeds from the pharmaceutical industry is boosting the growth of commercial seaweed market.
- Commercial seaweed is being utilized in different end-use industries such as food & beverage, cosmetics, and pharmaceuticals industry owing to its varied advantages. For instance, commercial seaweeds contain plenty of minerals and vitamins. Hence, the expansion of these end-use industries is driving the sales growth in the global commercial seaweed market.
- Owing to high percentage of bioactive components in commercial seaweeds, they are being increasingly used in the cosmetic industry owing to its application in the manufacturing of creams, essential oils, shampoos, bath salts, face masks, and other skin care products. Hence, rise in the demand for different skin care products is propelling the global commercial seaweed market. This aside, the anti-oxidant properties of commercial seaweeds offer anti-aging and anti-inflammatory effects. As a result, they are utilized in the skin treatment, skin care, and hair care products. These factors are fueling the commercial seaweed market growth.
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Commercial Seaweed Market: Growth Boosters
- Surge in the product use as a hydrocolloid in food is leading to revenue-generation opportunities in the commercial seaweed market
- Increase in the use of commercial seaweed in the food & beverage industry for emulsification, particle suspension, thickening, stabilization, and protein stabilization is propelling the global market
Commercial Seaweed Market: Regional Analysis
- The commercial seaweed market in Asia Pacific is projected expand at notable pace during the forecast period owing to rise in the demand for and increase in the production of seaweed in many regional nations including South Korea, China, Indonesia, and Japan
- The market is estimated to attract profitable avenues in Europe and North America in the forthcoming years as the use of vegan and plant-based products is being increasing in these regions
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Commercial Seaweed Market: Key Players
Some of the key players profiled in the report are:
- E.I. Du Pont de Nemours and Company
- Cargill Corporation
- CEAMSA
- CP Kelco
- Gelymar SA
- Acadian Seaplants Ltd.
- Brandt Agricultural Products Ltd
- Seasol International Pvt. Ltd
- Leili Group
- The Cornish Seaweed Company
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Commercial Seaweed Market Segmentation
Product Type
- Red seaweed
- Brown seaweed
- Green seaweed
Form
- Liquid
- Powdered
- Flake
Application
- Fertilizer
- Animal Feed
- Food
- Cosmetics
- Pharmaceuticals
- Bioplastic
- Others (Textile, Waste and Water Waste Treatment, etc.)
Regions Covered
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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