The Commercial Seaweed Market is driven by growing aquaculture production
The Commercial Seaweed Market is a multi-billion dollar industry. Seaweed or macroalgae refers to thousands of species of macroscopic, multicellular, marine algae. They are used for agricultural and industrial applications with several advantages over land plants including higher yield potential, lower water requirement and no requirement for fertile agricultural land or freshwater. Seaweeds serve as an excellent natural vegetarian alternative for various food applications in place of meat and vegetables. They are a rich source of minerals, vitamins, antioxidants and fibers that are beneficial for human health and nutrition.
The Global Commercial Seaweed Market is estimated to be valued at US$ 12.67 Bn in 2024 and is expected to exhibit a CAGR of 2.5% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Commercial Seaweed Market Size are E.I. Du Pont de Nemours and Company, Travena Organic Solutions Ltd., Cargill Inc., Roullier Group, Leili Group, Biostadt India Limited, Compo GmbH & Co. KG, Acadian Seaplants Limited, Gelymar SA, BrandT Consolidated, Inc., Seasol International Pty. Ltd., CP Kelco., West Coast Marine Bio-Processing Corp., Chase Organics GB Limited, Indigrow Ltd., Acadian Seaplants, Algaia SA, and The Seaweed Company. There is growing demand for seaweed as food additives and thickeners from industries like pharmaceuticals, personal care products and animal feed additives. Countries in Asia Pacific region like China, Japan, South Korea and Indonesia are the major producers and consumers of seaweeds contributing to over 90% of the worldwide production.
The demand for seaweed is growing rapidly due to the increasing aquaculture production and rising awareness regarding the nutritional benefits of seaweed. Seaweeds are being incorporated in novel food products, pharmaceuticals and hydrocolloids at an expanding rate globally. The growing organic food trend is also driving the adoption of seaweed as a natural plant-based ingredient.
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