Global Commercial Seaweed Market

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 News

  • 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.

  • 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.

  • 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.

  • 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.

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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 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. '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.'

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.

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.

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.

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Global Commercial Seaweed Market

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