Global Seaweed Snacks Market Report and Forecast 2024-2032

Global Seaweed Snacks Market Outlook

The global seaweed snacks market stood at a value of around USD 1,972.61 million in 2023. The market is further expected to grow at a CAGR of 10.4% in the forecast period of 2024-2032 to attain USD 4,807.06 million by 2032.

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Growing Demand for Seaweed Chips to Bolster the Growth of the Seaweed Snacks Industry

Based on type, the chips segment accounted for a significant share in the market and is anticipated to grow considerably in the forecast period as well. This can be attributed to the high nutritional and fibre value of the product, along with its delicious taste and crispy texture. The seaweed chips contain iodine, copper, iron, potassium, magnesium and calcium. Over the forecast period, the introduction of new and innovative flavours is likely to propel the sales of the product.

The market will further be aided by the growing popularity of seaweed chips among the youth. Meanwhile, seaweed bars are likely to occupy a considerable share in the market over the forecast period, owing to the high protein and low-fat present in these bars. The growing popularity of the product can also be attributed to the busy and hectic lifestyles of the middle-class population, who are increasingly preferring convenient food products and need sufficient amount of energy to carry out the day-to-day tasks efficiently.

Increasing Demand for Brown Seaweed-Based Snacks to Bolster the Global Seaweed Snacks Industry

On the basis of source, brown seaweeds are increasingly being preferred to prepare snacks and are likely to account for a significant share in the market. This can be attributed to the increasing awareness about the health benefits of brown seaweed and the growing concern regarding health and wellness among consumers. Brown seaweeds include some of the largest sea plants and are known for their high iodine content, which is aiding the growth of the segment.

The Asia Pacific to Account for a Significant Share in the Market

The Asia Pacific is anticipated to occupy a significant share in the market, owing to the fact that seaweed is a staple food in Asian countries such as South Korea, Japan, China and Thailand. A wide variety of seaweed snacks with different flavours and textures are available in these countries and are popular among the youth. Furthermore, the market in the Asia Pacific is expected to be aided by the growing population and the increasing disposable income in emerging economies across the region.

Seaweed Snacks: Market Segmentation

Seaweed snacks are the snacks prepared from a type of sea vegetable that can be eaten and used for culinary purposes. Seaweed can be obtained from red, green, or brown marine algae that grow along sea shores.

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Based on type, the market is divided into:

• Nori Sheets
• Flakes
• Bars
• Chips
• Others

On the basis of source, the industry is segmented into:

• Red
• Brown
• Green

The different distribution channels of the product include:

• Hypermarkets and Supermarket
• Convenience Store
• Online
• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Thriving Food Industry to Boost the Growth of the Seaweed Snacks Industry

The global seaweed snacks industry is driven by the thriving food industry, particularly in the emerging economies of the world. The growing popularity of seafood, including sushi, seaweed salad, seaweed chips, seaweed bars, roasted seaweed, and organic seaweed snacks, among others, is significantly contributing to the market growth. The seaweed snacks not only have a delicious taste and texture but are also rich in nutrients. This factor is likely to propel the sales of the product, as there has been a significant increase in demand for healthy and clean-labelled seafood products in recent years. Furthermore, the market is expected to be aided by the easy availability of the product, owing to the development of supermarkets and hypermarkets in various countries. In addition to that, the emergence of e-commerce will further augment the market growth in the forecast period.

Key Industry Players in the Global Seaweed Snacks Market

The report gives a detailed analysis of the following key players in the global seaweed snacks market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• SeaSnax
• Ocean’s Halo
• Taokaenoi Food & Marketing PCL
• Eden Foods, Inc
• Annie Chun's, Inc.
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report