USD 9.9 billion
Commercial Seaweed Market Size, Share, Growth Analysis, By Type(Red Seaweed, Brown Seaweed, Green Seaweed, Other), By Form(Powder, Flakes, Liquid), By End-Uses(Food, Beverage, Agriculture, Animal Feed Additives), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30H2145 |
Region:
Global |
Published Date: April, 2024
Pages:
157
|Tables:
95
|Figures:
75
Commercial Seaweed Market Insights
Commercial Seaweed Market size was valued at USD 9.9 billion in 2022 and is poised to grow from USD 10.1 billion in 2023 to USD 12.1 billion by 2031, growing at a CAGR of 2.3% in the forecast period (2024-2031).
The use of hydrocolloids like carrageenan, alginate, and agar has grown over the past several years in the food business, animal feed industry, pharmaceutical industry, and other sectors. This has caused the production of algae to increase and the demand for commercial seaweed to surge. Additionally, the health advantages of consuming macroalgae products are encouraging consumers to incorporate them into their everyday diets.
US Commercial Seaweed Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Food and Beverage
Fastest Growth
Food and Beverage
Growth Rate
2.3% CAGR
Global Commercial Seaweed Market 2024-2031 ($ Bn)
Country Share for North America Region- 2024 (%)
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Commercial Seaweed Market Segmental Analysis
The Global Commercial Seaweed Market is segmented based on Type, Form, End-Uses, and Region. Based on Type, the Global Commercial Seaweed Market is segmented as Red Seaweed, Brown Seaweed, Green Seaweed, and Others. Based on Form, the Global Commercial Seaweed Market is segmented as Powder, Flakes, and Liquid. Based on the End-Uses, the Global Commercial Seaweed Market is segmented as Food and Beverage, Agriculture, Animal Feed Additives, Pharmaceuticals and Cosmetics, and Personal Care. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Commercial Seaweed Market Analysis by End-Uses
The food and cosmetics sectors both use seaweed powder extensively. Powders are simple to move about and store. The removal of water during the process of turning macro algal extracts into powder extends their shelf life. Retail stores offer seaweed powder as a nutritional supplement and cosmetic product. The demand for seaweed powders in the food sector is anticipated to increase due to the rising popularity of plant proteins and vegan goods. Liquid macro algae extracts are expanding significantly as a result of their expanding use in functional drinks and cosmetics.
Global Commercial Seaweed Market Share By End-Uses, 2024 (%)
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Commercial Seaweed Market Regional Insights
By 2026, Asia Pacific will hold the largest market share for commercial seaweed, with a value of USD 10.73 billion. Over the past few years, the demand for commercial-grade algae has increased due to its increasing use in regional cuisines, particularly in China, Japan, and Vietnam. The region's macroalgae market is expanding as a result of rising food service demand. In the next years, market growth is also anticipated to be fueled by consumers' growing preference for plant-based cosmetics and personal care products. In comparison to other areas, the European market is anticipated to have consistent expansion. Chlorella and spirulina, two edible seaweeds, are helping Europe profit from the growing demand for plant-based proteins. Diverse seaweed pharmaceutical industry providers from the emerging nations of APAC are taking advantage of the need for high-quality and natural supplements in the area.
Global Commercial Seaweed Market By Geography, 2024-2031
- Largest
- Fastest
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Commercial Seaweed Market Dynamics
Commercial Seaweed Market Driver
Increasing Adoption of Commercial Seaweed as Hydrocolloids
- The global food industry's demand for seaweed is increasing due to its product efficiency in providing nutritional value to food goods. Macro algae, for instance, are utilized as a food component or freshly added to foods in countries like the U.S., France, and Canada now that the Asian population has migrated to these nations. Previously, it was mostly consumed in Asia countries. Several hydrocolloids made from seaweed are also employed to boost the stability and thickness of food items. Additionally, it is used to create gels and films that are water-soluble. The most popular macro algal extracts are alginate, agar, and carrageenan. They are employed in a variety of culinary items, including ice cream, jam, fruit juice, bakery goods, and others, as gelling, stabilizing, emulsifying, and thickening agents.
Skyrocketed demands of Plant based products
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Following a vegetarian diet or switching to a vegan diet is one of the major trends in today's time. Individuals in current times have become more aware about animal welfare and wellbeing. These products are gaining popularity across several sectors such as the food and cosmetics industry with the evolving perception that plant-based products are safer & healthier compared to animal-originated products.
Commercial Seaweed Market Restraint
High Cost of Seaweed Cultivation
- Water contamination has greatly risen in recent years as a result of the blending of hazardous waste chemicals and plastics from industrial effluents. This creates a lot of difficulties while collecting from ocean bottoms, which raises the price of algae at the market. It is anticipated that the high cost of cultivation would limit market expansion. For instance, Alltech shut down its Kentucky plant for producing algae in January 2018 after evaluating the business unit's operational effectiveness. However, more government involvement in macroalgae production to meet the rising demand for algae in the food business is anticipated to aid farmers and manufacturers in overcoming this difficulty.
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Commercial Seaweed Market Competitive Landscape
The Global Commercial Seaweed market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase market share and profitability.
Commercial Seaweed Market Top Player's Company Profiles
- DowDuPont, Inc
- Cargill Inc.
- CP Kelco
- Roullier Group
- E.I. du Pont de Nemours and Company
- Biostadt India Limited
- Seasol International Pty Ltd.
- Acadian Seaplants Limited
- Gelymar SA
- Ocean Rainforest Sp/F
- Ocean Harvest Technology Limited
- Qingdao Seawin Biotech Group Co. Ltd.
- Seaweed Energy Solutions AS
- The Seaweed Company
- CEAMSA
- Aquatic Chemicals
- Mara Seaweed
- Acroyali Holdings Qingdao Co. Ltd.
- Irish Seaweeds.
Commercial Seaweed Market Recent Developments
- In 2021, Australia had an increase in new seaweed farming ventures. During the anticipated time, the government's investments and growth opportunities might help the seaweed sector.
- In 2021, WavePure®, a line of red seaweed powders based on native seaweed collected without any chemical treatment, was released by Cargill Incorporated. A mix of gracilaria seaweeds called WavePure® ADG 8250 is part of the product line. It has little effect on the sensory character but helps to preserve stability and texture in gelled dairy sweets.
- In 2020, The Malaysian start-up Rhodomaxx planned to join the seaweed market since seaweed can be grown without the use of fertilizer, freshwater, or land. The production of thread, fertilizer, bio-plastics and leather replacements is exploding in the seaweed farming and processing industries, which might benefit the business.
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In November 2021, Cascadia Seaweed partnered with Tsawout First Nation to farm seaweed off James Island. This helped the company to increase the production of seaweed in order to meet the growing demand for seaweeds.
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In November 2021, Acadian SeaPlus launched new Chondracanthus chamissoi seaweed product to customers across the global market. It is a red algae species that has application in variety of products ranging from functional food, nutraceutical, cosmetics, pharmaceuticals, and brewing. This helped the company to expand their product portfolio.
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In June 2020, a French-based bio marine ingredient company invested USD 2.4 million to develop a new range of seaweed-based solutions in order to create plant-based substitutes.
Commercial Seaweed Key Market Trends
- Globally, people have grown more conscious of environmental problems in recent years, which has sparked the creation of remedies to lessen environmental stress. Consumer tastes have changed significantly as a result of the increased consumer knowledge of environmental welfare, fueling the need for sustainable products. A fast-growing, nutrient-rich alga that absorbs carbon dioxide and releases oxygen, macroalgae are grown in a sustainable manner.
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Brown algae is expected to showcase a promising growth on account of its growing consumption in Asian countries. In countries such as China and Japan, it is consumed with coconut milk, crushed ice, and jelly.
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The demand for high-quality and natural supplements in the region is creating an opportunity for various seaweed . Therefore, edible seaweeds such as chlorella and spirulina help capitalize on the new trends of plant-based protein consumption in Europe
Commercial Seaweed Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Commercial Seaweed Market Analysis, Methane is produced by fermentation, which is assisted by microbes. Methane gas produced as a consequence is utilized as a fuel in gas engines to generate energy. Furthermore, a variety of calibers are available through the co-extrusion method used with commercial seaweed. Enhancements to preservatives, thickeners, and gums have been made possible by key market participants' ongoing investments in R&D. Over the projection period of 2020–2028, it is predicted that the market would develop at a faster rate due to significant improvements in the possible uses of seaweed.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 9.9 billion |
| Market size value in 2031 | USD 12.1 billion |
| Growth Rate | 2.3% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Commercial Seaweed Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Commercial Seaweed Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Commercial Seaweed Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Commercial Seaweed Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Commercial Seaweed Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Commercial Seaweed Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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