Global Commercial Seaweed Market Growth Analysis Report - Market Size, Share, Forecast Trends and Outlook (2024-2032)

Global Commercial Seaweed Market Size

The global Commercial Seaweed market is expected to grow at a CAGR of 9.8% during the period 2024-2032. Seaweeds are used as a food source (in several coastal regions), in industrial applications and as fertiliser. Present uses of seaweed include foods for human consumption, animal feed, cosmetics, fertilisers, and for the extraction of industrial gums and chemicals. Asia, in particular Japan, Korea and China, are key producers and consumers of seaweed.  North America and Europe are markets with significant potential.

Global Market Likely to be Driven by Multiple Applications, Including in Food, Cattle Feed and Cosmetics

The seaweed industry offers several products with an estimated total annual value over US$ 5 billion. Key uses include those in human consumption, substances extracted from seaweeds (such as hydrocolloids), and fertilizers and animal feed additives. The farming of seaweed has seen rapid expansion as demand outdid the supply presented by natural resources. Commercial harvesting occurs in over thirty countries across the Northern and Southern Hemispheres, in waters ranging from cold, temperate, to tropical. Such increase in demand is expected to boost the global commercial seaweed market. Broadly, seaweeds are classified as brown (Phaeophyceae), red (Rhodophyceae) and green (Chlorophyceae), on the basis of pigmentation. Seaweeds are also known as macro-algae; as compared to micro-algae (Cyanophyceae) that are microscopic in size, generally unicellular, and best identified by the blue-green algae that sometimes blossom and contaminate streams and rivers. Seaweeds that grow naturally are often known as wild seaweeds, as against seaweeds that are cultivated or farmed.

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Asia is a Major Producer and Consumer of Seaweed

Asia explains over ninety percent of seaweed production. Seaweed cultivation is also growing in Europe. China, Japan and Korea are the largest consumers of seaweed as food. However, the market has seen expansion with rising demand in regions like USA and South America. Indeed, demand has risen such that has outdone supply capabilities from natural (or wild) stocks. Increasing interest and research into seaweeds has enabled the development of cultivation industries that fulfil a major percentage of the market demand. Ireland, Iceland, Canada, France have also witnessed the development of the market, with seaweed being consumed in restaurants as well as in homes. In some developing nations, an informal market exists among coastal inhabitants where fresh seaweeds are consumed as vegetable and in salads.

Red and brown seaweeds are used in the production of three hydrocolloids - agar, alginate and carrageenan. Hydrocolloids are non-crystalline substances with very large molecules and that dissolve in water to give a viscous solution. Alginate, agar and carrageenan are carbohydrates that are soluble in water and used to thicken aqueous solutions, prepare gels, manufacture water-soluble films, and stabilize certain products (such as ice cream).

Multiple Applications of Seaweed Likely to Stimulate Market Growth

Seaweeds have several applications that are expected to drive the global commercial seaweed market. Rich in fibre, minerals, iodine and umami flavour, seaweeds are a natural salt substitute, offering a salty taste with about 70% less sodium. Seaweed may be used in food in several ways.

Seaweeds are a good source of protein, fibre and bioactive compounds that exert positive effects on gut microflora. Seaweed can enhance nutritional value, including iodine, of meat and dairy products, and increase tenderness and storage stability, with no negative effect on flavour. Kelp for cattle can decrease methane in livestock, cutting down greenhouse gas emissions.

Seaweed bioplastics degrade quickly and do not carry micro-plastics and toxic chemicals. These may be employed to manufacture sealable films, sachets, bags, nets and other items. Seaweeds help decrease energy and water consumption by the textile industry, producing durable fabrics that may be readily recycled. Seaweeds are also used in many cosmetic items, nutraceuticals, and medicines.

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Commercial Seaweed Market Segmentation

By type, the market is segmented into:

• Brown Seaweed 
• Red Seaweed 
• Green Seaweed
• Others

By form, the market is divided into:

• Liquid
• Powdered
• Others

By application, the market is classified into:

• Agriculture
• Animal Feed
• Food and Beverages
• Others

By region the market is segmented into:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

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Key Industry Players in the Commercial Seaweed Industry

The report presents a detailed analysis of the following key players in the global commercial seaweed market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Cargill, Incorporated.
• Seasol International Pty Ltd.
• Indigrow Ltd.
• IFF Nutrition & Biosciences (Dupont)
• Acadian Seaplants Limited
• Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report

Commercial Seaweed Market Report Snapshots

Commercial Seaweed Market Size

Commercial Seaweed Market Growth

Commercial Seaweed Companies