USD 1.82 billion
Seaweed Snacks Market Size, Share, Growth Analysis, By Product(Strips & Chips, Flakes, Bars and Others), By Distribution Channel(Online And Offline), By Regional(North America, Europe, Asia Pacific, Middle East and Africa), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30I2355 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
90
|Figures:
66
Seaweed Snacks Market Insights
Seaweed Snacks Market size was valued at USD 1.82 billion in 2021 and is poised to grow from USD 2.02 billion in 2022 to USD 4.58 billion by 2030, growing at a CAGR of 10.8 % in the forecast period (2023-2030).
The better-for-you food products industry is experiencing significant growth due to increasing consumer demand for healthier options. These products offer a rich nutrition profile, attracting health-conscious consumers seeking a balanced diet. They also align with the growing trend of "free-from" food products, being free from common allergens, gluten, and GMOs. This health-oriented preference is expected to drive the demand for such products in the coming years.
Seaweeds, in particular, offer numerous health benefits, including vitamins, minerals, fiber, antioxidants, proteins, iodine, and omega-3 fatty acids. The presence of amino acids and iodine supports proper thyroid gland function, while the fiber content improves gut health and aids in weight management. Seaweeds also help lower cholesterol levels, reduce the risk of blood clots, and regulate blood pressure.
The increasing adoption of vegan diets has further fueled the demand for seaweed products, as they serve as a plant-based source of umami flavor and provide essential iodine for vegan consumers. Additionally, the growing popularity and availability of sushi in Western countries have contributed to the market's growth. Seaweed roll-ups used in sushi rolls have gained traction as a convenient snacking option.
US Seaweed Snacks Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Strips & Chips
Fastest Growth
Strips & Chips
Growth Rate
10.8% CAGR
Seaweed Snacks Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Seaweed Snacks Market Segmental Analysis
The global enterprise data management market is segmented on the basis of product, distribution channel, and region. By Product, the market is segmented into Strips & Chips, Flakes, Bars, and Others. By Distribution, the market is segmented into Offline, and Online. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Seaweed Snacks Market Analysis By Distribution Channel
In 2022, the offline segment dominated the market as the seaweed snacks products gained significant shelf space in offline retail outlets, including supermarkets, hypermarkets, and convenience stores. Despite the rise of online shopping, a majority of consumers still prefer to shop from physical stores. Manufacturers often employ a dual distribution strategy, using both offline and online channels to reach a wider consumer base.
However, the online distribution channel is expected to witness the fastest growth rate during the forecast period. This growth can be attributed to attractive price discounts and the convenience of shopping from the comfort of one's home. Key online retailers driving sales in this channel include Amazon, Tesco PLC, Asda Stores Ltd., Sainsbury's, and Instacart, among others. As consumers increasingly turn to online shopping, the online distribution segment is expected to gain prominence in the coming years.
Seaweed Snacks Market Analysis By Product
In 2022, the strips & chips product segment dominated the market and is further expected to continue growing steadily at a consistent CAGR during the forecast period. Major manufacturers in the industry have been actively introducing innovative products to expand their product portfolio. For example, in January 2017, Ocean's Halo introduced three new products, including dark chocolate strips, chili lime, and Korean BBQ flavored sheets, as well as organic sushi nori. These additions have contributed to the segment's growth and popularity.
On the other hand, the bar snacks segment is anticipated to witness the fastest CAGR over the forecast period. In recent years, nutrition bars have gained significant traction among consumers. These bars or squares come in a variety of sweet and salty flavors and are often combined with other ingredients such as sesame seeds, cereals, or even chocolates. The rising consumer preference for convenient and healthy on-the-go snacks has driven the demand for nutrition bars, leading to the segment's rapid growth.
Seaweed snacks market By Product
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Seaweed Snacks Market Regional Insights
In 2022, Asia Pacific emerged as the largest regional market, contributing to over 50% of the total revenue share. Prominent markets in the region include South Korea, Japan, China, and Thailand, where seaweed is a staple food. The regional market offers a diverse range of seaweed snacks with various flavors and textures to cater to consumer preferences.
Conversely, North America is projected to achieve the fastest CAGR of over 11% from 2023 to 2030. Growing health concerns and the increasing prevalence of obesity have been driving the demand for seaweed snacks in this region. In September 2018, Nora Snacks, a subsidiary of Taokaenoi Food & Marketing PCL, launched a range of seaweed chips in the U.S. These seaweed snacks were made available through various online platforms, including Amazon, to cater to the rising demand in the North American market.
Seaweed snacks market By Geography
- Largest
- Fastest
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Seaweed Snacks Market Dynamics
Seaweed Snacks Market Drivers
Increasing Health Consciousness
- The growing trend of health-conscious consumers seeking nutritious and natural snack options is a significant driver for the seaweed snacks market. Seaweed is rich in vitamins, minerals, and antioxidants, appealing to health-conscious individuals..
Seaweed Snacks Market Restraints
Limited Awareness
- The seaweed snacks market may face challenges due to limited awareness among consumers about the nutritional benefits and versatility of seaweed as a snack option.
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Seaweed Snacks Market Competitive Landscape
The global seaweed snacks market features a dynamic competitive landscape with several key players vying for market share. Established brands like Annie Chun's, SeaSnax, and gimMe Snacks dominate with their diverse product portfolios and strong distribution networks. Additionally, innovative entrants like Ocean's Halo and New Frontier Foods are gaining traction with unique flavors and healthier snacking options. As consumer interest in plant-based and nutritious snacks continues to grow, the competition intensifies, prompting companies to focus on product differentiation, sustainable sourcing, and creative marketing strategies to maintain a competitive edge.
Seaweed Snacks Market Top Player’s Company Profile
- Taokaenoi Food & Marketing PCL
- gimMe Health Foods Inc.
- Frito-Lay North America, Inc.
- Annie Chun’s, Inc.
- Kimnori U.S.A. Inc.
- KPOP Foods
- SeaSnax
- Ocean’s Halo
- SEAWEED MARKET OÜ
- Singha Corporation
Seaweed Snacks Market Recent Developments
- In March 2020, Gimme Snacks introduced an innovative flavor to their range of seaweed snacks: Sea Salt & Avocado Oil Roasted Seaweed Snack. This latest addition complemented their already established selection of high-quality offerings, which are distinguished by being USDA Organic, Non-GMO, and Gluten Free certified. The debut of the Sea Salt & Avocado Oil variant marked an expansion of Gimme Snacks' product line, showcasing their commitment to providing diverse and wholesome snacking options. This flavorful introduction aligned seamlessly with the brand's dedication to crafting nutritious and responsible snacks for consumers seeking both taste and health benefits.
Seaweed Snacks Key Market Trends
- Rising Popularity of Plant-Based Diets: The growing adoption of plant-based and vegan diets has led to an increased demand for plant-based snack alternatives, and seaweed snacks fit well into this trend.
Seaweed Snacks Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to the global seaweed snacks market analysis, the increasing consumer awareness of healthy and sustainable food choices are significant growth drivers. This market offers a variety of seaweed-based snack options that are low in calories and rich in nutrients. Asia-Pacific dominates the market due to its traditional consumption of seaweed and the rising trend of healthy snacking. North America and Europe are also experiencing significant growth as consumers seek innovative and nutritious snacks. The market is segmented based on product type, distribution channel, and flavor variations. Factors such as the growing popularity of plant-based diets, rising demand for natural and organic snacks, and the unique taste and texture of seaweed snacks are driving market expansion.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.82 billion |
| Market size value in 2031 | USD 4.58 billion |
| Growth Rate | 10.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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 Seaweed Snacks 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 Seaweed Snacks 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 Seaweed Snacks 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 Seaweed Snacks 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 Seaweed Snacks Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Seaweed Snacks 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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