Global Commercial Seaweed Market Scope Report

Global Commercial Seaweed Market Highlights Over 2023 - 2035

The global commercial seaweed market is estimated to garner a revenue of ~ USD 12 billion by the end of 2035 by growing at a CAGR of ~2% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of ~ USD 10 billion in the year 2022. The very high demand for organic food in the present times as a result of their environmental friendliness, lack of chemical fertilizers or pesticides in their production, and lack of food additives is the primary factor driving the growth of the global commercial seaweed market. For instance, the sales of organic food amounted to ~USD 121 billion in 2020.

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COVID-19 has also had a remarkable influence on the choices of consumers as the pandemic made consumers more aware of their health and immunity. It is estimated that with the pandemic, ~61% of consumers became more conscious of health problems and started trying to avoid them with a healthy lifestyle . This shift in consumer behavior is also thought to improve the global commercial seaweed market size.

Global Commercial Seaweed Market: Growth Drivers and Challenges

Growth Drivers

• Considerable Growth of Aquaculture in the World – According to the Food and Agricultural Organization (FAO), the production from fisheries and aquaculture worldwide is expected to rise by 1.5% in 2022. The growing demand for environment-friendly sources of protein and scientific developments are the main reasons behind the growth of aquaculture in the present times. Farmers, communities, and the environment are thought to be benefited from seaweed farming, the most rapidly growing sector of aquaculture. Seaweed farming is a lucrative opportunity for coastal communities in ocean farming, and the presence of seaweed help maintain the level of nutrients in nearby water.

• High Preference for Hydrocolloid Dressings – It was observed that globally more than 96% of all patients preferred hydrocolloid dressings (HCD) to conventional daily dressings (CDD) for chronic wound care .

• Rising Demand for Animal Feed – It is estimated that globally the animal feed market would experience growth of ~3% from 2023 to 2035.

• Considerable Demand for Biomethane – It is estimated that the world produced about 4 million tons of biomethane in 2018.

Challenges

• Availability of Similar Products

• High Costs Involved in Seaweed Cultivation

• Eutrophication of Water Bodies to Affect Sea Weed Cultivation

The global commercial seaweed market is segmented and analyzed for demand and supply by form into leaf, powdered, and flakes. The leaf form is expected to show the most significant market growth during the forecast period as a result of their inevitable use in the local cuisines of many parts of the world and their use as food additives. Seaweed leaf adds taste and nutrient value to the regional cuisines of Indonesia and Japan, including Nori, Sushi, Onigiri, and more.  It is estimated that in 2020, Sushi restaurants in Japan garnered revenue of ~ USD 7 trillion.

Global Commercial Seaweed Market Regional Synopsis

Regionally, the global commercial seaweed market is studied into five major regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these markets, the market in the Asia Pacific region is projected to hold the largest market share by the end of 2035. The presence of China and Korea, the topmost producers of seaweed globally, the use of seaweed in the food and medical industry, and its rising demand in local cuisines are the principal reasons contributing to the growth of the regional commercial seaweed market size. According to the Organization for Economic Co-operation and Development (OCED), the volume of red seaweed produced in Korea in 2020 amounted to 539 799 tons.

Market Segmentation

Our in-depth analysis of the global commercial seaweed market includes the following segments:

Key Companies Dominating the Global Commercial Seaweed Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global commercial seaweed market that are included in our report are Cargill, Incorporated, Biostadt India Limited, COMPO EXPERT Gmbh , Acadian Seaplants Limited , Gelymar S.A, BRANDT Consolidated, Inc, Seasol International Pty Ltd, CP Kelco U.S., Inc., Beijing Leili Agricultural Co., Ltd, Branded Garden Products Limited , and others.

Global Commercial Seaweed Market: Latest Developments

• July, 2020: Seasol International Pty Ltd – announced acquiring Ausgro to expand their consumer selection for organic and natural fertilizers and other products.

• July, 2020: BRANDT Consolidated, Inc  – announced the acquisition of a manufacturing plant for specialty formulations in Brazil to expand the production capability of its proprietary input technology.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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