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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
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.
Commercial Seaweed Market Report Snapshots
Commercial Seaweed Market Size
Commercial Seaweed Market Growth
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global commercial seaweed market is projected to grow at a CAGR of 9.8% between 2024 and 2032.
The major drivers of the market include the growing technological developments in cultivating seaweed, growing consumer awareness regarding the benefits of nutritional food, increasing product demand in the regional food industry, and rising consumption of organic and non-GMO ingredients.
The multiple applications of seaweed, including food, cattle feed and cosmetics and the rising investments in application segments, including animal feed and agriculture are the key industry trends propelling the market's growth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The different types of commercial seaweed are brown seaweed, red seaweed, and green seaweed, among others.
Based on form, the market is classified into liquid and powdered, among others.
The major applications of the market are agriculture, animal feed, food and beverages, among others.
Seaweeds are used as human foods, cosmetics, fertilisers, and to extract industrial chemicals and gums. They may be utilised as a source of long- and short-chain compounds for both industrial and medical applications.
Off the shores of China, Indonesia, the Philippines, South Korea, and Japan, vast sea-based farms produce a significant portion of the world's seaweed. Most of this seaweed is dried (or occasionally blanched) and used for food, animal feed, and industrial uses like thickeners for toothpaste.
Red seaweeds are an excellent vegetarian source of complete protein since they have all the key amino acids that the body needs. Iodine, which supports healthy thyroid function, can also be found in red seaweeds.
The major players in the industry are Cargill, Incorporated., Seasol International Pty Ltd., Indigrow Ltd., IFF Nutrition & Biosciences (Dupont), and Acadian Seaplants Limited, among others.
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