USD 2.02 billion
Report ID:
SQMIG30I2355 |
Region:
Global |
Published Date: December, 2024
Pages:
157
|Tables:
90
|Figures:
66
Seaweed Snacks Market size was valued at USD 0 Billion in 2023 and is poised to grow from USD 0 Billion in 2024 to USD 0 Billion by 2032, growing at a CAGR of 10.8% during the forecast period (2025-2032).
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.
Global Market Size
USD 2.02 billion
Largest Segment
Strips & Chips
Fastest Growth
Strips & Chips
Growth Rate
10.8% CAGR
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Global Seaweed Snacks Market is segmented by product type, flavor, packaging, distribution channel, application and region. Based on product type, the market is segmented into roasted seaweed snacks, seasoned seaweed snacks, seaweed chips, seaweed crackers and other seaweed snacks. Based on flavor, the market is segmented into original, salt, sweet, spicy, barbecue and other flavors. Based on packaging, the market is segmented into individual packs, multi-packs, bulk packs and other packaging types. Based on distribution channel, the market is segmented into supermarkets/hypermarkets, convenience stores, online retail, speciality stores and other distribution channels. Based on application, the market is segmented into snacks, meal accompaniments, food ingredients and other applications. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
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.
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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.
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Seaweed Snacks Market Drivers
Increasing Health Consciousness
Seaweed Snacks Market Restraints
Limited Awareness
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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
Seaweed Snacks Market Recent Developments
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 0 Billion |
Market size value in 2032 | USD 0 Billion |
Growth Rate | 10.8% |
Base year | 2024 |
Forecast period | 2025-2032 |
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 |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
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.
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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Report ID: SQMIG30I2355
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