According to the report, the seaweed cultivation market size is estimated to be valued at USD 16.7 billion in 2020. It is projected to reach USD 30.2 billion by 2025, recording a CAGR of 12.6% during the forecast period, in terms of value. Factors such as edible seaweeds’ functional properties, growth in consumer awareness regarding the health benefits of seaweed-based products, increasing industrial, agricultural, feed-related applications, and the rising market for seaweed as snack products are projected to drive the growth of the seaweed cultivation industry during the forecast period. However, excessive use of seaweed products can adversely affect consumers’ health due to toxic minerals such as heavy metal residues. This has led to increasing health concerns globally, which, in turn, serves as a restraining factor for the growth of the seaweed cultivation market.
"The red seaweed is estimated to dominate the global seaweed cultivation market, in terms of volume."
Red seaweeds are the largest group of seaweeds that are directly consumed as food due to their high content of essential nutrients, such as vitamins, minerals, and antioxidants. As the red seaweeds are nutrition-dense, they are used mainly in various food products, such as soups, salads, snacks, and sushi. Red seaweeds are preferred more due to their nutrition and protein-rich properties compared to brown and green seaweeds. These seaweeds are also used to manufacture agar and carrageenan, widely used as a thickening and gelling agent. On account of these factors, the red seaweed is projected to witness high demand globally.
"Seaweeds harvested from aquaculture is projected to witness the fastest growth in the market during the forecast period."
Seaweeds are mainly obtained from aquaculture and are used for the extraction and production of carrageenan and alginates. The rise in demand for aquaculture seaweeds as a raw material for the hydrocolloid industry to manufacture carrageenan, agar-agar, and alginates is projected to reflect overall market growth positively. Furthermore, aquaculture seaweeds’ cultivation does not require large setups and causes minimum harm to fishery resources and seabed. In the developing countries, this method acts as a sustainable activity, which also provides an alternative livelihood for the small-scale fishing community. Due to these factors, seaweed aquaculture remains high across regions, contributing toward the overall market growth.
"Europe is projected to grow at the highest CAGR during the forecast period."
Europe is projected to be the fastest-growing market for seaweed cultivation during the forecast period. The demand for seaweeds in Europe is driven by various factors such as increased use of seaweeds as hydrocolloids, rising production of seaweeds through seaweed aquaculture, and the rising application of seaweeds in agriculture, feed, medicine, and human food. In this region, consumers are more inclined toward healthy foods, and seaweeds are viewed as a healthy superfood used in a large number of food products, seasonings, and beverage items, thereby driving the market’s growth. The other significant applications of seaweeds in Europe include producing alginic acid through hydrocolloids, producing organic fertilizers for use in agriculture, and as additives in feed. The usage of seaweeds for the pharmaceutical and nutraceutical industries has recently started developing due to the rising awareness about the nutritional content and advantages associated with seaweed consumption.
The seaweed cultivation market is segmented region-wise, with a detailed analysis of each region. These regions include Asia Pacific, North America, Europe, and RoW (Brazil, Chile, South Africa, and other South American, African, and Middle Eastern countries).
Break-up of Primaries
- By Company Type: Tier 1 - 25%, Tier 2 - 35%, and Tier 3 - 40%
- By Designation: C-level - 25%, D-level - 30%, and Manager-level - 45%
- By Region: North America - 17%, Europe - 28%, Asia Pacific - 33%, and RoW – 22%
Leading players profiled in this report include the following:
- Cargill, Incorporated (US)
- DuPont (US)
- Groupe Roullier (France)
- CP Kelco U.S., Inc. (US)
- Acadian Seaplants (Canada)
- Qingdao Gather Great Ocean Algae Industry Group (China)
- Qingdao Seawin Biotech Group Co. Ltd. (China)
- Qingdao Bright Moon Seaweed Group Co. (China)
- Seaweed Energy Solutions AS (Norway)
- The Seaweed Company (Netherlands)
- Algea (Norway)
- Seasol (Australia)
- Gelymar (Chile)
- Algaia (France)
- CEAMSA (Spain)
- COMPO EXPERT (Germany)
- Leili (China)
- Irish Seaweeds (Ireland)
- AtSeaNova (Belgium)
- Mara Seaweed (Scotland)
- AquAgri Processing Pvt. Ltd. (India)
- Sea6 Energy (India)
- Symbrosia (US)
- ALGAplus (Portugal)
- Volta Greentech (Sweden)
This report segments the seaweed cultivation market on the basis of type, application, form, method of harvesting, and key regions. In terms of insights, this research report focuses on various levels of analyses?competitive landscape, pricing insights, end-use analysis, and company profiles?which together comprise and discuss the basic views on the emerging & high-growth segments of the seaweed cultivation market, high-growth regions, countries, industry trends, drivers, restraints, opportunities, and challenges.
Reasons To Buy this report
- To get a comprehensive overview of the seaweed cultivation market with specific reference to the application markets
- To gain wide-ranging information about the top players in this industry, their product portfolio details, and the key strategies adopted by them
- To gain insights about the major countries/regions, in which the seaweed cultivation market is flourishing