Commercial Seaweed Market Outlook
Commercial Seaweed Market Size is Anticipated to Reach USD 16.9 billion in 2032 and Registering CAGR of 10.10% from 2024 to 2032.Seaweeds are a group of multicellular and photoautotrophic algae, that occur in marine environments and are generally found attached to rock or a hard substratum. Due to its high nutrients content seaweeds are used in number of applications, including food supplements, medicines, industrial chemicals, and as a potential component for biofuel research and CCS (carbon capture and sequestration). Furthermore, the presence of hormones such as Gibberellins and Auxins is surging its usage as agricultural fertilizers. Gibberellins and Auxins are known as growth hormone, these help in stimulating cell elongation and promote plant growth.
Based on type, the global commercial seaweeds market has been segmented into red seaweeds, brown seaweeds, and green seaweeds. The brown seaweeds segment is anticipated to gain the largest revenue share in the global commercial seaweeds market and shall maintain lead throughout the forecast period. Brown seaweeds contains iodine and tyrosine, which help in maintaining thyroid function of the body. These are also good source of vitamins and minerals, such as iron, manganese, copper, vitamin B2, vitamin B1. Moreover, seaweeds also consist of small amount of vitamins A, C, E, and K along with folate, zinc, sodium, calcium and magnesium. Thus, these properties help to improve bone health, balance hormones, reduce fatigue, hypothyroidism, and menstrual problems. This is a crucial determinant that is boosting the growth of brown seaweeds segment in the global commercial seaweeds market.
The global commercial seaweeds market has been segregated, by method of harvesting, into aquaculture and wild harvesting. The aquaculture segment is expected to garner major share in the global commercial seaweeds market owing to the factor that aquaculture harvesting method, causes less harm to seabed and are also cheap to setup. Furthermore, the same segment is anticipated to project a higher CAGR during the forecast period due to the rising inclination of seaweed producers towards aquaculture.
The global commercial seaweeds market has been segregated, by form, into liquid, powder, flakes, and others. The liquid segment is anticipated to gain the largest revenue share in the global commercial seaweeds market and shall maintain lead throughout the forecast period. The liquid form seaweed is used in various applications, such as food & beverages, agriculture and feed, due to its protective antioxidant properties.
By application, the global commercial seaweeds market has been segmented into agriculture, animal feed, food & beverages, and others. Food & beverages segment is further bifurcated into convenience food, dairy & frozen desserts, meat, poultry, & seafoods, bakery & confectioneries, and others. The food & beverages segment is expected to garner the highest revenue share of the global commercial seaweed market owing to the factor that seaweeds are enriched with nutrients such as high iodine, calcium, magnesium, iron, vitamin. Furthermore, seaweeds are also used as gelling and thickening agents in various processed food products such as, dairy drinks, creams, cheese, and candies.
Regional Analysis
The global commercial seaweeds market has been segmented on the basis of region, into North America, Europe, Asia-Pacific, Rest of the World.
Asia-pacific is expected to dominate the global commercial seaweeds market owing to presences various species seaweeds in the region. Countries such as China, Indonesia and Japan are among the largest suppliers of commercial seaweeds in the region.
North America and RoW commercial seaweeds market is expected to grow at a rapid pace due to the surging prevalence and consumption of commercial seaweeds in the regions. Moreover, North America is also expected to project a significant market share owing to the increasing awareness regarding the mineral and vitamin content of seaweeds. Thus, surging its usage as an ingredient in various food & beverages products. Moreover, the increasing demand for clean label and organic food products, has led to usage of seaweeds as a natural fertilizer in the agriculture industry.
Segmentation
The global commercial seaweeds market has been segmented based on type, method of harvesting, form, application and region.
By type, the global commercial seaweeds market has been classified as red seaweeds, brown seaweeds, and green seaweeds.
By method of harvesting, the global commercial seaweeds market has been classified as aquaculture and wild harvesting.
On the basis of form, the global commercial seaweeds market has been segmented into liquid, powder, flakes, and others.
Based on application, the global commercial seaweeds market has been divided into food & beverages, animal feed, and agriculture. Food & beverages segment is further bifurcated into convenience food, dairy & frozen desserts, meat, poultry, & seafoods, bakery & confectioneries, and others.
Key Players
Some of the key players in the global commercial seaweeds market are Cargill, Incorporated (US), DowDuPont Inc. (US), Algaia SA (France), Compañía Española de Algas Marinas S.A. (Spain), Extractos Naturales Gelymar S.A.(Chile), Acadian Seaplants Limited (Canada), CP Kelco U.S., Inc. (US), Biostadt India Limited (India), COMPO EXPERT GmbH (Germany), and Compagnie Financiere et de Participations Roullier S.A. (France).
Key Players
Some of the key players in the global commercial seaweeds market are Cargill, Incorporated (US), DowDuPont Inc. (US), Algaia SA (France), Compañía Española de Algas Marinas S.A. (Spain), Extractos Naturales Gelymar S.A.(Chile), Acadian Seaplants Limited (Canada), CP Kelco U.S., Inc. (US), Biostadt India Limited (India), COMPO EXPERT GmbH (Germany), and Compagnie Financiere et de Participations Roullier S.A. (France).
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