Global Commercial Seaweed Market Overview
The Commercial Seaweed Market estimated at USD 17.46 Billion in the year 2023, is projected to reach a revised size of USD 34.27 billion by 2032, growing at a CAGR of 7.78% over the analysis period 2024-2032.
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.
In addition, commercial harvesting occurs in about 35 countries, spread among the Northern and Southern Hemispheres, in waters ranging from cold, through temperate, to tropical. According to FAO Fisheries Technical Paper, total annual value of production is estimated at approximately US$ 6 billion of which food products for human consumption represent US$ 5 billion and total annual use by the global seaweed industry is about 8 million tons of wet seaweed. Globally, approximately 1 million tons of wet seaweed are harvested and extracted to produce about 55,000 tons of hydrocolloids, valued at almost US$ 600 million.
Market Dynamics and Factors:
Drivers:
- Commercial seaweed is required to fulfil the consumer diet demand and suppress a certain disease's risk. In addition, commercial seaweed helps to provide adequate yield quality and quantity in the agriculture sector and fulfil the rising demand for hydrocolloids in food & beverages industry which leads to fueled market growth during forecast period.
- Rising the demand for plant-based product, awareness about animal welfare and veganism among the individuals are key factors driving the market growth. Plant based product gaining popularity across several sector such as food and cosmetic industry with resulting perception that plant-based food is safer and healthier as compared to animal-based products. For instance, In June 2020, Bio Marine Ingredient Company funded USD 2.4 million to create new product range of seaweed based with respect to produce plant-based substitutes. Growing the usage of commercial seaweed in pharmaceutical and cosmetic industry is anticipated to drive the growth of the commercial seaweed market.
Restraints:
- High-cost cultivation process for seaweed, in order to their water management, nutrients, chemicals, water pollution and harvesting process are factors responsible for hindering the market growth during forecast period. In addition, environmental risk related with seaweed cultivation are expected to restraint market growth.
Opportunities:
- Rising the health concern among the population about the seaweed and their product range with other opportunities will expected to growth in projected period. For instance, in January 2019, Algaia started a new variety of seaweed-based texturing solutions named VegAlg, developed to provide shape and structure, and add juiciness to plant-based burgers. This latest product launch would build up its market position in the food industry.
Market Segmentation
Regional Analysis:
- Geographically, commercial seaweed market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. In North America, have highest market share as an increasing cultivation of the seaweed in the country, growing in demand of the seaweed across the end users and plant-based products are stimulating the growth of the seaweed market.
- Asia-Pacific dominates commercial seaweed market, owing to the factors such as low labor cost, adequate availability of raw material of seaweed, and adoption of commercial types of algae in traditional way in countries such as China, Japan, Vietnam are key factors that fueled the market growth as well as hold the major market share.
- In Europe region anticipated to show steady growth as compare the other regions. The demand for high quality natural plant-based product will create an opportunity in upcoming years. Rising investment by manufacturers and R&D activities driving the commercial seaweed market growth.
- Latin America market witness steady growth of the market due to vast geographical are consisting various ocean domains. It is expected to growth in seaweed market in upcoming years. Middle East and Africa commercial seaweed market is still in emerging stage owing to only green algae as an important product, but it is expected to growth in other product segment in future.
Players Covered in Commercial Seaweed market are :
- 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.
Key Industry Developments
- In March 2024, Sea6 Energy, a seaweed company launched the world's first large-scale mechanized tropical seaweed farm off the coast of Lombok, Indonesia
- In October 2023, Belize launched a pilot project to convert large amounts of hazardous sargassum seaweed that destroys its pristine beaches into biofuel.
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Global Commercial Seaweed Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
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Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 17.46 Bn. |
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Forecast Period 2024-32 CAGR: |
7.78% |
Market Size in 2032: |
USD 34.27 Bn. |
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Segments Covered: |
By Type |
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By Form |
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By Application |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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1.1 Scope and Coverage
Chapter 2:Executive Summary
Chapter 3: Market Landscape
3.1 Market Dynamics
3.1.1 Drivers
3.1.2 Restraints
3.1.3 Opportunities
3.1.4 Challenges
3.2 Market Trend Analysis
3.3 PESTLE Analysis
3.4 Porter's Five Forces Analysis
3.5 Industry Value Chain Analysis
3.6 Ecosystem
3.7 Regulatory Landscape
3.8 Price Trend Analysis
3.9 Patent Analysis
3.10 Technology Evolution
3.11 Investment Pockets
3.12 Import-Export Analysis
Chapter 4: Commercial Seaweed Market by By Type (2018-2032)
4.1 Commercial Seaweed Market Snapshot and Growth Engine
4.2 Market Overview
4.3 Red
4.3.1 Introduction and Market Overview
4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units
4.3.3 Key Market Trends, Growth Factors, and Opportunities
4.3.4 Geographic Segmentation Analysis
4.4 Brown
4.5 Green
Chapter 5: Commercial Seaweed Market by By Form (2018-2032)
5.1 Commercial Seaweed Market Snapshot and Growth Engine
5.2 Market Overview
5.3 Liquid
5.3.1 Introduction and Market Overview
5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units
5.3.3 Key Market Trends, Growth Factors, and Opportunities
5.3.4 Geographic Segmentation Analysis
5.4 Powdered
5.5 Flakes
Chapter 6: Commercial Seaweed Market by By Application (2018-2032)
6.1 Commercial Seaweed Market Snapshot and Growth Engine
6.2 Market Overview
6.3 Agriculture
6.3.1 Introduction and Market Overview
6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units
6.3.3 Key Market Trends, Growth Factors, and Opportunities
6.3.4 Geographic Segmentation Analysis
6.4 Animal Feed
6.5 Human Food
6.6 Other Applications
Chapter 7: Company Profiles and Competitive Analysis
7.1 Competitive Landscape
7.1.1 Competitive Benchmarking
7.1.2 Commercial Seaweed Market Share by Manufacturer (2024)
7.1.3 Industry BCG Matrix
7.1.4 Heat Map Analysis
7.1.5 Mergers and Acquisitions
7.2 FORMAN WHISKEY (US)
7.2.1 Company Overview
7.2.2 Key Executives
7.2.3 Company Snapshot
7.2.4 Role of the Company in the Market
7.2.5 Sustainability and Social Responsibility
7.2.6 Operating Business Segments
7.2.7 Product Portfolio
7.2.8 Business Performance
7.2.9 Key Strategic Moves and Recent Developments
7.2.10 SWOT Analysis
7.3 ANCHOR BREWING COMPANY (US)
7.4 ALLAGASH BREWING COMPANY (US)
7.5 JIM BEAM (US)
7.6 CONSTELLATION BRANDS (US)
7.7 BEAM SUNTORY (US)
7.8 BROWN FORMAN (US)
7.9 RED BRICK BREWING COMPANY (US)
7.10 THE EDRINGTON GROUP (UK)
7.11 JOHNNIE WALKER (UK)
7.12 UNITED SPIRITS LTD. (INDIA)
7.13 PERNOD RICARD SA (FRANCE)
7.14 WILLIAM GRANT & SONS (UK)
7.15 ACCOLADE WINES (AUSTRALIA)
7.16 MCDOWELL'S NO. 1 (INDIA)
7.17 ALLIED BLENDERS & DISTILLERS (INDIA)
7.18 ARKELL’S BREWERY (UK)
7.19 ASAHI BREWERIES (JAPAN)
7.20 BASS BREWERY (UK)
7.21 BACARDI LTD (BERMUDA)
7.22 BEIJING RED STAR CO (CHINA)
7.23 DIAGEO (UK)
7.24 LA MARTINIQUAISE (FRANCE)
7.25 SUNTORY BEVERAGE & FOOD LIMITED (JAPAN)
7.26 8PM (ITALY)
Chapter 8: Global Commercial Seaweed Market By Region
8.1 Overview
8.2. North America Commercial Seaweed Market
8.2.1 Key Market Trends, Growth Factors and Opportunities
8.2.2 Top Key Companies
8.2.3 Historic and Forecasted Market Size by Segments
8.2.4 Historic and Forecasted Market Size By By Type
8.2.4.1 Red
8.2.4.2 Brown
8.2.4.3 Green
8.2.5 Historic and Forecasted Market Size By By Form
8.2.5.1 Liquid
8.2.5.2 Powdered
8.2.5.3 Flakes
8.2.6 Historic and Forecasted Market Size By By Application
8.2.6.1 Agriculture
8.2.6.2 Animal Feed
8.2.6.3 Human Food
8.2.6.4 Other Applications
8.2.7 Historic and Forecast Market Size by Country
8.2.7.1 US
8.2.7.2 Canada
8.2.7.3 Mexico
8.3. Eastern Europe Commercial Seaweed Market
8.3.1 Key Market Trends, Growth Factors and Opportunities
8.3.2 Top Key Companies
8.3.3 Historic and Forecasted Market Size by Segments
8.3.4 Historic and Forecasted Market Size By By Type
8.3.4.1 Red
8.3.4.2 Brown
8.3.4.3 Green
8.3.5 Historic and Forecasted Market Size By By Form
8.3.5.1 Liquid
8.3.5.2 Powdered
8.3.5.3 Flakes
8.3.6 Historic and Forecasted Market Size By By Application
8.3.6.1 Agriculture
8.3.6.2 Animal Feed
8.3.6.3 Human Food
8.3.6.4 Other Applications
8.3.7 Historic and Forecast Market Size by Country
8.3.7.1 Russia
8.3.7.2 Bulgaria
8.3.7.3 The Czech Republic
8.3.7.4 Hungary
8.3.7.5 Poland
8.3.7.6 Romania
8.3.7.7 Rest of Eastern Europe
8.4. Western Europe Commercial Seaweed Market
8.4.1 Key Market Trends, Growth Factors and Opportunities
8.4.2 Top Key Companies
8.4.3 Historic and Forecasted Market Size by Segments
8.4.4 Historic and Forecasted Market Size By By Type
8.4.4.1 Red
8.4.4.2 Brown
8.4.4.3 Green
8.4.5 Historic and Forecasted Market Size By By Form
8.4.5.1 Liquid
8.4.5.2 Powdered
8.4.5.3 Flakes
8.4.6 Historic and Forecasted Market Size By By Application
8.4.6.1 Agriculture
8.4.6.2 Animal Feed
8.4.6.3 Human Food
8.4.6.4 Other Applications
8.4.7 Historic and Forecast Market Size by Country
8.4.7.1 Germany
8.4.7.2 UK
8.4.7.3 France
8.4.7.4 The Netherlands
8.4.7.5 Italy
8.4.7.6 Spain
8.4.7.7 Rest of Western Europe
8.5. Asia Pacific Commercial Seaweed Market
8.5.1 Key Market Trends, Growth Factors and Opportunities
8.5.2 Top Key Companies
8.5.3 Historic and Forecasted Market Size by Segments
8.5.4 Historic and Forecasted Market Size By By Type
8.5.4.1 Red
8.5.4.2 Brown
8.5.4.3 Green
8.5.5 Historic and Forecasted Market Size By By Form
8.5.5.1 Liquid
8.5.5.2 Powdered
8.5.5.3 Flakes
8.5.6 Historic and Forecasted Market Size By By Application
8.5.6.1 Agriculture
8.5.6.2 Animal Feed
8.5.6.3 Human Food
8.5.6.4 Other Applications
8.5.7 Historic and Forecast Market Size by Country
8.5.7.1 China
8.5.7.2 India
8.5.7.3 Japan
8.5.7.4 South Korea
8.5.7.5 Malaysia
8.5.7.6 Thailand
8.5.7.7 Vietnam
8.5.7.8 The Philippines
8.5.7.9 Australia
8.5.7.10 New Zealand
8.5.7.11 Rest of APAC
8.6. Middle East & Africa Commercial Seaweed Market
8.6.1 Key Market Trends, Growth Factors and Opportunities
8.6.2 Top Key Companies
8.6.3 Historic and Forecasted Market Size by Segments
8.6.4 Historic and Forecasted Market Size By By Type
8.6.4.1 Red
8.6.4.2 Brown
8.6.4.3 Green
8.6.5 Historic and Forecasted Market Size By By Form
8.6.5.1 Liquid
8.6.5.2 Powdered
8.6.5.3 Flakes
8.6.6 Historic and Forecasted Market Size By By Application
8.6.6.1 Agriculture
8.6.6.2 Animal Feed
8.6.6.3 Human Food
8.6.6.4 Other Applications
8.6.7 Historic and Forecast Market Size by Country
8.6.7.1 Turkiye
8.6.7.2 Bahrain
8.6.7.3 Kuwait
8.6.7.4 Saudi Arabia
8.6.7.5 Qatar
8.6.7.6 UAE
8.6.7.7 Israel
8.6.7.8 South Africa
8.7. South America Commercial Seaweed Market
8.7.1 Key Market Trends, Growth Factors and Opportunities
8.7.2 Top Key Companies
8.7.3 Historic and Forecasted Market Size by Segments
8.7.4 Historic and Forecasted Market Size By By Type
8.7.4.1 Red
8.7.4.2 Brown
8.7.4.3 Green
8.7.5 Historic and Forecasted Market Size By By Form
8.7.5.1 Liquid
8.7.5.2 Powdered
8.7.5.3 Flakes
8.7.6 Historic and Forecasted Market Size By By Application
8.7.6.1 Agriculture
8.7.6.2 Animal Feed
8.7.6.3 Human Food
8.7.6.4 Other Applications
8.7.7 Historic and Forecast Market Size by Country
8.7.7.1 Brazil
8.7.7.2 Argentina
8.7.7.3 Rest of SA
Chapter 9 Analyst Viewpoint and Conclusion
9.1 Recommendations and Concluding Analysis
9.2 Potential Market Strategies
Chapter 10 Research Methodology
10.1 Research Process
10.2 Primary Research
10.3 Secondary Research
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Global Commercial Seaweed Market |
|||
|
Base Year: |
2023 |
Forecast Period: |
2024-2032 |
|
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 17.46 Bn. |
|
Forecast Period 2024-32 CAGR: |
7.78% |
Market Size in 2032: |
USD 34.27 Bn. |
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Segments Covered: |
By Type |
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By Form |
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By Application |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Frequently Asked Questions :
The forecast period in the Commercial Seaweed Market research report is 2024-2032.
Acadian Seaplants Limited; Algaia; Biostadt India Limited; Brandt; Cargill, Inc.; Chase Organics (GB) Ltd.; Compo GmbH; CP Kelco; DowDuPont, Inc.; Gelymar; Indigrow Ltd.; Leili Agrochemistry Co., Ltd.; Qingdao Seawin Biotech Group Co., Ltd.; Roullier Group; Seasol International Pty. Ltd.; The Cornish Seaweed Company Ltd; West Coast Marine Bio-Processing, Corp. and other major players.
The Commercial Seaweed Market is segmented into Type, Form, Application, and region. By Type, the market is categorized into Red, Brown, Green. By Form the market is categorized into Liquid, Powdered, Flakes. By Application the market is categorized into Agriculture, Animal Feed, Human Food, Other Applications. By region, it is analyzed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
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.
The Commercial Seaweed Market estimated at USD 17.46 Billion in the year 2023, is projected to reach a revised size of USD 34.27 billion by 2032, growing at a CAGR of 7.78% over the analysis period 2024-2032.
