The commercial seaweed market size is estimated to be nearly US$ 11.7 billion in 2023. The global market is poised to register a CAGR of 2.4% from 2023 to 2033. The overall valuation of the commercial seaweed market is projected to reach US$ 14.9 billion by 2033.
In the vast expanse of the world’s oceans, a select few companies reign supreme in the production and distribution of commercial seaweed. This marine treasure is abundantly harvested along the coastlines of nations such as Indonesia, China, Japan, and the Philippines.
Key Insights:
- Asia Pacific Dominance: The heart of commercial seaweed production and marketing beats in the Asia Pacific region. Nations like Indonesia, China, Japan, and the Philippines, deeply rooted in seaweed traditions, have fostered a thriving commercial market for various seaweed types.
- Global Expansion: With the growing preference for organic products in Europe and North America, the demand for commercial seaweed is poised for substantial growth on the global stage.
- Riding the Vegan Wave: Seaweed’s popularity is surging, fueled by the global shift toward vegan meals and plant-based proteins. As dietary preferences evolve, seaweed finds itself at the forefront of this nutritional revolution.
- Agricultural Advancements: The seaweed industry is witnessing unprecedented growth, thanks to advancements in agricultural practices, the development of new seaweed strains, and the expansion of its applications beyond traditional uses.
Market Potential and Future Growth:
As the commercial seaweed market continues to ride the wave of global demand, fueled by the convergence of tradition, health-conscious choices, and sustainable practices, it presents a promising opportunity for both producers and consumers.
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Key Takeaways
- China is the leading country in the production of a wide variety of seaweed, followed by Japan and the Republic of Korea. The net worth of the Chinese commercial seaweed market crossed US$ 10 billion in 2022.
- Commercial seaweed production and usage are expected to rise with the trend of vegetarianism in the United States.
- In comparison to other geographic regions, the European seaweed market is anticipated to have consistent expansion through 2033.
- Due to its broad geographic range having several maritime domains, the South American market is predicted to have significant growth through 2033.
Competitive Landscape for the Commercial Seaweed Market Players
Wild Irish Seaweeds, Acadian SeaPlus, Organic Irish Seaweed-Emerald Isle, KwangcheonKIm, Cascadia Seaweed, Ocean Rainforest, Springtide Seaweed, LLC, BLUE EVOLUTION, Earaybio, Kai Ho “Oceans Treasure”, Aushadh Limited., BY VIET DELTA, Shore Seaweed, ALGOLESKO, Raw Seaweeds, Cargill, Incorporated, AtSeaNova, Kelp Industries Pty, Ltd., Maine Coast Sea Vegetables, MARA SEAWEED, Marcel Carrageenan, Pacific Harvest, Seaweed Solutions AS, The Seaweed Company, Irish Seaweeds are some big players in the global Commercial seaweed market. Most commercial seaweed producers are engaged in many strategic efforts, including, collaborations, regional growth, and production capacity expansion.
Arcadian Seaplants Ltd. stated in March 2021 it was going to expand Deveau Center’s manufacturing capacity by 2X. The market positions of leading players are anticipated to be strengthened by regional expansion, ultimately increasing the source of raw materials.
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Recent Developments by the Commercial Seaweed Industries
- A global distributor of chemicals and ingredients named Univar Solutions established a partnership with Scotland-based Seaweed & Co. in July 2019. It aims to broaden its product offering with unique seaweed components that meet the needs of contemporary consumers in terms of sustainability.
- Cargill Inc. introduced a new type of seaweed powder in February 2021 that was derived from red seaweed called Gracilaria, commonly produced in Europe. WavePure ADG 8250 is the name of the product, which is part of the WavePure ADG series. Due to its ability to provide a creamy and smooth texture, it is mostly employed in the production of dairy products.
- In August 2019, CP Kelco Company increased the amount of gellan gum it could produce at its Oklahoma seaweed processing facility. The business hopes to address the growing demand for adaptable, multipurpose ingredients required for gellan gum in the State. The firm also aims to have a greater opportunity to provide and increase its market share in the food and beverage sector.
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Key Segments Covered by Commercial Seaweed Industry Survey Report
Commercial Seaweed Industry by Product Type:
- Red Seaweed
- Green Seaweed
- Brown Seaweed
- Other Types
Commercial Seaweed Industry by Form:
- Leaf
- Powdered
- Flakes
- Liquid
Commercial Seaweed Industry by Application:
- Agriculture Fertilizer
- Animal Feed Additives
- Human Consumption
- Pharmaceuticals
- Cosmetics and Personal Care
- Biofuels
- Bio Plastics
- Textiles
- Waste Water Treatment
- Hydrocolloids
- Other Applications
Commercial Seaweed Industry by Region:
- North America Market
- Latin America Market
- Europe Market
- East Asia Market
- South Asia and Pacific Market
- The Middle East and Africa (MEA) Market
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