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Commercial Seaweed Market is Expected to Grow at a CAGR of 11% By 2030

The global commercial seaweed market is expected to grow at a compound annual growth rate (CAGR) of 11% during the forecast period 2022-2030. Commercial seaweed refers to microalgae that can grow in freshwater and marine waters. These algae are an important food source for all life in the ocean and are found in three colors: green seaweed; red seaweed; and brown seaweed. The rocky shorelines are where seaweeds thrive. Seaweeds are rich in vitamins, and minerals. They also contain fibres, iodine, and antioxidants. Also, commercial seaweed has health benefits like lowering your risk of heart disease, diabetes, goitre, and improving your gut health. Due to their exceptional attributes of longer shelf life, low operating cost, easy storage, and transport, powdered seaweed is expected to see significant growth during the forecast period. This will be due to their reduced risk of spoilage. Additionally, increasing consumption of non-GMO and organic ingredients, which are cost-effective and pose little risk to human health, will drive demand for powdered forms-based seaweed.

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The commercial seaweed market is growing rapidly due to the increased adoption of seaweeds for hydrocolloids. Additionally, seaweeds have high nutritional values and are considered healthy. Seaweed is also being used in many other industries, such as pharmaceuticals, personal and agricultural care, food and beverages, and in various other industries, such as pharmaceuticals, healthcare, personal care, and agriculture. The high amount of iodine in seaweeds, as well as the environmental risks associated with them, will limit their market growth over the forecasted periods. Growing consumer awareness about the benefits of nutritional foods is driving the demand for carrageenan in developing nations such as China and Indonesia. This trend is expected to continue in the future.

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The pandemic had an adverse effect on the growth of the commercial seaweed market in 2020. The travel restrictions in major seaweed-producing regions have severely impacted the seaweed trade. The production of farmed seafood, which is more than 97% of total seaweed production, has seen a steady decline in production between June 2020 and November 2020. COVID-19’s impact on seaweed production in South Asian countries such as South Korea, Indonesia, China, and China has seen a lower domestic consumption. Due to the closures of international trade and international boundaries to stop the spread of coronavirus throughout the globe, seaweed exports have had a significant effect.

Red seaweed was the dominant market segment contributing to about 54% of all the total revenues in 2021. The main benefits of red alga are their ability to lower blood sugar and cholesterol. It is also a good source of antioxidants. This helps to boost the immune system and nourish the skin. These and other factors are expected to drive market growth for red seaweed in food & beverage as well as other application industries. Brown seaweed has the second-largest product category, with a substantial revenue share of 43% for 2021. 

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Seaweed is an important food that can be eaten directly by humans. The highest revenue share, 82%, is in the Human Consumption segment in 2021. There are many uses for commercial seaweed in food products, such as sauces, toppings or salad dressings, soups, gravies, and soups. For the desired texture, seaweed can be used in many food products including desserts. 

Asia Pacific dominated and held the largest revenue share at 75%. The Asia Pacific market is projected to grow at 11.0%, which will be the fastest growth rate over the five-year forecast. China is expected to have the largest market share, due to the country’s growing seaweed production and increasing demand. France is expected to dominate Europe’s seaweed market due to their knowledge of the health benefits of commercially grown seaweed. North America’s highest market share is held by the United States, due to the increased use of seaweed within the pharmaceutical and personal-care industries.

Seaweed production is concentrated in the areas along the coasts from seaweed-producing countries such as Japan and Indonesia. The market offers great potential for new and emerging players who need broad support throughout the value chain. The key strategy of key players includes mergers &acquisitions and joint ventures to expand their market share. To provide the best product quality, most of the industry’s key players also have their distribution networks. This gives them a competitive advantage through cost savings and an increase in profit margin. The global commercial seaweed report covers Cargill, Incorporated, DuPont, Marcel Carrageenan, AtSeNova, Beijing Leili Agricultural Co., Ltd, Pacific Harvest, Irish Seaweed, Ocean Rainforest, Indigrow Ltd, Seaweed Solutions AS, Maine Coast Sea Vegetables, Kelp Industries, Pty, Ltd., Organic Irish Seaweed–Emerald Isle, Green Ocean Farming UK, Nantong Xinlang Seaweed & Foodscadia Seaweed, KwangcheonKim, and others.

Key Market Trends

  • The global commercial seaweed market is expected to grow at a compound annual growth rate (CAGR) of 11% during the forecast period 2022-2030.
  • The commercial seaweed market is growing rapidly due to increased adoption of seaweeds for hydrocolloids.
  • The production of farmed seafood, which is more than 97% in total seaweed production, has seen a steady decline in production between June 2020 and November 2020. COVID-19’s impact on seaweed production in South Asian countries such as South Korea, Indonesia, China, and China has seen a lower domestic consumption.
  • Red seaweed was the dominant market segment contributing to about 54% of all the total revenues in 2021. 
  • Brown seaweed has the second-largest product category, with a substantial revenue share of 43% for 2021. 
  • Seaweed is an important food that can be eaten directly by humans. The highest revenue share, 82%, is in the Human Consumption segment in 2021.
  • Asia Pacific dominated and held the largest revenue share at 75%. The Asia Pacific market is projected to grow at 11.0%, which will be the fastest growth rate over the five-year forecast. 
  • The market offers great potential for new and emerging players who need broad support throughout the value chain. 
  • The global commercial seaweed report covers Cargill, Incorporated, DuPont, Marcel Carrageenan, AtSeNova, Beijing Leili Agricultural Co., Ltd, Pacific Harvest, Irish Seaweed, Ocean Rainforest, Indigrow Ltd, Seaweed Solutions AS, Maine Coast Sea Vegetables, Kelp Industries, Pty, Ltd., Organic Irish Seaweed–Emerald Isle, Green Ocean Farming UK, Nantong Xinlang Seaweed & Foodscadia Seaweed, KwangcheonKim, and others.

Commercial Seaweed Market is segmented into:

ATTRIBUTEDETAILS
Research Period2020-2030
Base Year2021
Forecast Period2022-2030
Historical Year 2020
Unit USD Million
SegmentationBy Product
By Application
By Form
By Cultivation
Region Segment (2020 – 2030; US$ Mn)
Covid-19 Impact (2020-2021; US$ Mn)

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