What is the global market size of Commercial Seaweed Market?

Commercial Seaweed Market size was valued at USD 9.9 billion in 2021 and is poised to grow from USD 10.1 billion in 2022 to USD 12.1 billion by 2030, growing at a CAGR of 2.3% in the forecast period (2023-2030).

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.

Commercial Seaweed Market Report Snapshots

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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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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

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