The global Edible Seaweed market size is expected to expand from US$ 11,250.0 million in 2023 to US$ 19,745.0 million by 2033. Over the next ten years (2023 to 2033), global Edible Seaweed sales are likely to soar at a notable CAGR of 5.8%.
Key Trends Listed by Future Market Insights (FMI):
- Brown seaweed has wide range of applications in treatment of stress, arthritis, weight loss, heart diseases, cholesterol and even cancer
- The demand for commercial seaweed has increased over the last couple of years due to their increased end use applications and medicinal properties
- Seaweed have wide range of applications across industries a s a result of which there is an increase in the overall farming and harvesting of seaweed
- Countries with a wide coastline like that of India, Japan and China have an abundance of seaweed due to their easy availability and access to ocean bodies
- Seaweeds are used in soups, stews and meals in Asian countries and as gelling and thickening agents in North American and European countries
- Seaweeds have a wide range of applications in cosmetics and personal care products as well. They are used to manufacture face masks creams and other skincare products
- Demand for dried form of seaweed is high in China, Japan and South Korea
- Use of seaweeds as ingredients in multiple food products act as organic alternatives to conventional additives and preservatives
- Dried seaweed are used as ingredient in a range of dishes like stew and stir-fried recipes
- Powdered seaweeds are used as thickening and gelling agents in baking industries and are hence experiencing a surge in demand due to their application in bakery and confectionery industries
- The demand for protein alternatives due to rise in population and high demand have prompted manufacturers to look out for alternatives. Edible Seaweed is a good source of protein, vitamins and minerals and acts as a good alternative source
- Edible seaweeds are a good source of fibre and its utilization in processed food is gaining popularity in the global market.
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Seaweed production has increased dramatically as a result of increased consumer awareness of its nutritional benefits and accessibility. Edible seaweed is used in the pharmaceutical industry because of its wealth of bio-active compounds, which are used to make vitamins, medications, and other products. Furthermore, the notion of consuming seaweed raw is not novel. In Asian countries such as South Korea and Japan, seaweed is often used in soups, stews, salads, and other meals. Rice and sushi are also wrapped in it.
The health and immunity of farm animals have significantly improved as a result of the use of seaweed in animal feed. Cattle are producing more dairy products than ever before. Furthermore, livestock and farm animals are less likely to get illnesses that could be harmful to their health. In the food and beverage sector, seaweed extract is utilised as a thickening, gelling, and stabilising ingredient. The food industry is expanding steadily, and because of its sustainability and environmentally beneficial qualities, new foods like certain types of seaweed are more readily embraced by customers.
Key Takeaways from the Seaweed Algae Report:
- The global Seaweed Algae marketis expected to reach a valuation of US$ 19,745.0 million by 2033.
- Global demand for Seaweed Algae is likely to soar at 8% CAGRover the forecast period.
- Japan is projected to hold a dominant value share of 0% in the global market by 2033.
- The United States Seaweed Algae market is projected to reach a valuation of US$ 5,429.8 million by 2033.
- China market is estimated to witness a value CAGR of 6% during the projection period.
“There is an increase in demand for edible seaweed products due to their applications across various industries like food processing, pharmaceuticals, cosmetics, and animal feed” – says a lead analyst at Future Market Insights (FMI)
Who is Winning?
Gelymar, Tasmanian Seafood Seduction, PhycoHealth, Sea Forest, Australian Seaweed Institute, Marinova, Great Southern Ocean, The Seaweed Company, Acadian Seaplants, Qingdao Gather Great Ocean Algae Industry Group, Roquette Klotze GmbH, Cargill, Incorporated and Acadian Seaplants are key Seaweed Algae manufacturers listed in the report.
These companies are concentrating on expanding their portfolios by launching new products. They also use strategies such as advertisements, partnerships, acquisitions, agreements, and mergers to stay relevant in the market. For instance,
- 2021: Cargill Foods recently launched seaweed powder as a food ingredient for processed food as an eco-friendly alternative which is sustainably sourced and more environmentally friendly. The company also claims to be the first company to offer this product commercially in Europe
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Edible Seaweed Market by Category
By Product Type:
- Brown Algae
- Green Algae
- Red Algae
By End Use Application:
- Food & Beverage Processing
- Pharmaceuticals
- Dietary Supplements and Nutraceuticals
- Personal Care and Cosmetics
- Animal Feed
- Aqua Feed
- Pet Food
- Retail
By Extraction Method:
- Conventional
- Current Method
By Form:
- Dried
- Whole
- Powder
- Liquid
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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