Global Commercial Seaweed Market size is projected to reach USD 27.07 Billion by 2028 from an estimated USD 16.23 Billion in 2021, growing at a CAGR of 7.58%.
Seaweed refers to the number of species of multicellular, marine algae and it is adaptable product widely used for food in direct human consumption, then animal feed, cosmetics, agriculture, and others. Basically, seaweed is collected from the wild, but now it is increased as commercial seaweed cultivation. Seaweed found in three forms such as brown, red and green seaweed. Furthermore, the seaweed cultivation has increased rapidly as demand has outstripped the supply available from natural resources which leads to growth of the market during forecast period.
The Top Key Players include Commercial Seaweeds Market:
DowDuPont Inc.,Cargill Incorporated,Beijing Leili Agricultural Co. Ltd.,Organic Irish Seaweed Emerald Isle,Seaweed Solutions AS,Nantong Xinlang Seaweeds and Foods Co. Ltd.,CP Kelco US Inc.,Groupe Roullier,J.M. Huber,Kerry Group Plc.,Ocean Harvest Technology Ltd.,Gelymer S.A.,Corbion N.V.,Green Ocean Farming UK and other major players.
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Commercial seaweed products such as carrageenan are widely used in the food and beverage industry as emulsifying and particle suspension agents, thickeners, stabilizers, and protein stabilizers in various types of processed food products such as chocolate milk, salad dressings, dairy products, ice cream, and sour cream. Commercial seaweed is majorly used as a substitute for gelatin-based food and beverage products, especially for the vegan population. Commercial seaweed is also widely used in food applications such as baked products, confectioneries, and beverages.
Market Segmentation
By Type
- Red
- Brown
- Green
By Form Liquid
- Powdered
- Flakes
By Application
- Agriculture
- Animal Feed
- Human Food
- Other Applications
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Region and country level analysis:
- North America (U.S., Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
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The Impact of COVID-19 on the Seaweed Market
The COVID-19 pandemic has adversely hit many economies around the world. Government measures to combat the COVID-19 pandemic, such as nationwide lockdowns and quarantines, negatively impacted many industries. Most manufacturers of food products in the F&B sector continue to feel the impact of COVID-19. Social distancing, self-isolation, and city-wide lockdowns have forced the closures of many establishments in countries across Asia, the U.S., Europe, and the rest of the world.
Key Industry Developments
- In June 2018, DowDuPont Nutrition and Health has announced a program for sustainable seaweed mainly for hydrocolloid industry in partnership with Anderson Cabot Centre for Ocean Life. This collaboration and program will help DuPont extend awareness about seaweed among farmers and harvesters and to take one more step towards the sustainable cultivation practices.
- In November 2019, Nippon Steel Corporation in collaboration with Furuu Districts Fisheries Cooperative Association started a latest seaweed regeneration project to promote fisheries industry in Japan.
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