The commercial seaweeds market is projected to reach a value of USD 17.59 billion by 2021, growing at a CAGR of 9.17% from 2016 to 2021. The market is further driven by factors such as increasing awareness about the medicinal uses of seaweeds and increasing demand from the European region. Increase in the cost of fertilizers & pesticides, rise in organic & environment-friendly farming practices, and increase in awareness regarding the environmental concerns related to the use of chemical fertilizers are factors propelling higher demand of seaweeds in the agriculture sector.“Red seaweeds accounted for the largest market share in 2015 among all the types of commercial seaweeds”
Among the types of commercial seaweeds such as red seaweeds, brown seaweeds, and green seaweeds, red seaweeds accounted for the largest market share, followed by brown seaweeds and green seaweeds. Red seaweeds are used on a large scale due to their functional qualities, easy availability, and application in almost all the industrial sectors.
“Human food segment led the market with the largest share in 2015”
On the basis of application, the commercial seaweeds market is led by the human food segment, followed by animal feed and agriculture segments. The demand for seaweed vegetables and processed seaweeds in various food preparations is rising due to increasing awareness about the nutritive properties of the seaweeds.
“Asia-Pacific dominated the market with the largest share”
Asia-Pacific formed the largest market for commercial seaweeds in 2015, whereas North America accounted for the second-largest market in 2015, in terms of value, and is projected to grow at the highest CAGR from 2016–2021. The global commercial seaweeds market is segmented region-wise, with a detailed analysis of each region by studying the key markets. These regions include North America, Europe, Asia-Pacific, and Rest of the World (RoW).
Breakdown of profile of primary participants:
- By Company Type: Tier 1 – 50 %, Tier 2 – 22%, and Tier 3 – 28%
- By Designation: C level – 28%, Director level – 22%, Others – 50%
- By Region: North America – 59%, Europe – 11%, Asia-Pacific – 22%, RoW – 8%
Reasons To Buy this report:
- To get a comprehensive overview of the global commercial seaweeds market
- To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
- To gain insights of the major countries/regions in which the commercial seaweeds market is flourishing