IMARC Group's report titled "Commercial Seaweeds Market Report by Product (Brown Seaweeds, Red Seaweeds, Green Seaweeds), Form (Liquid, Powdered, Flakes), Application (Agriculture, Animal Feed, Human Consumption, and Others), and Region 2024-2032". The global commercial seaweeds market size reached US$ 21.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 42.3 Billion by 2032, exhibiting a growth rate (CAGR) of 7.9% during 2024-2032.
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Factors Affecting the Growth of the Commercial Seaweeds Industry:
- 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.
- 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.
- Innovation 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.
Leading Companies Operating in the Commercial Seaweeds Industry:
- 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
Commercial Seaweeds Market Report Segmentation:
By Product:
- Brown Seaweeds
- Red Seaweeds
- Green Seaweeds
Red seaweeds represented the largest segment by product due to their widespread use in the food industry for their higher agar, carrageenan, and alginate content, essential for thickening, gelling, and stabilizing properties.
By Form:
- Liquid
- Powdered
- Flakes
Liquid holds the largest market share as it facilitates easier integration and application in various industries, particularly in the agriculture and food sectors, due to its convenience in handling and mixing.
By Application:
- Agriculture
- Animal Feed
- Human Consumption
- Others
Human consumption accounts for the majority of the market share owing to the increasing global demand for natural and healthy food products, where seaweeds are utilized for their nutritional benefits and as flavor enhancers.
Regional Insights:
- 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's dominance in the commercial seaweeds market is attributed to the region’s longstanding tradition and established infrastructure for seaweed cultivation in countries like China, Japan, and South Korea, coupled with high local consumption and export demand.
Global Commercial Seaweeds Market Trends:
The increasing consumer awareness about the health benefits associated with seaweed consumption, such as high nutritional value and potential cardiovascular benefits, is driving demand for seaweed-based products.
Consumers and businesses are preferring products sourced from environment friendly and responsibly cultivated seaweed farms, which is bolstering the market growth.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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