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

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

• 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.