The global seaweed market reached a value of US$ 6.73 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 12.85 Billion by 2027, exhibiting a CAGR of 11.5% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Seaweeds or macroalgae refer to several species of macroscopic, multicellular, and marine algae that grow in oceans, sea, lakes, rivers, and other water bodies. They are either obtained from aquaculture or wild harvest. Based on the high amount of minerals and vitamins in seaweeds, various hydrocolloids such as agar, alginate, gelatinous substances, and carrageenan can be extracted from them. Owing to several functional and health benefits, they find diversified applications in food & beverages, pharma products, wastewater treatment, bio-refining, and dietary supplements. The rising demand for seaweed is augmented by the increasing consumption of seaweed in dietary supplements based on its nutritive content, flavor-enhancing, and weight loss properties. Moreover, seaweeds are rich in bioactive compounds, antioxidants, and antimicrobial properties, which makes them suitable for several medical purposes in the pharmaceutical industry. Additionally, the newer applications of seaweed, for instance, as a thickening agent in the textile industry as well as for enhancing yield, improving soil quality and crop protection in the agriculture industry, have also bolstered the product demand in recent times. Furthermore, the increasing investments in several R&D activities, coupled with the rising consumer awareness towards diversified applications of seaweed, are anticipated to catalyze the global seaweed market in the coming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global seaweed market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on environment, product and application.
Breakup by Environment: Aquaculture
Breakup by Product:
Breakup by Application:
Direct Human Consumption
Animal Feed Additives
Breakup by Region: Asia Pacific
Middle East and Africa
United Arab Emirates
The competitive landscape of the industry has also been examined with some of the key players being Acadian Seaplants Limited, Cargill Incorporated, DuPont de Nemours, Inc., Irish Seaweeds, Leili, Mara Seaweeds, Qingdao Gather Great Ocean Algae Industry Group (GGOG), etc. Key Questions Answered in This Report
1. What is the expected growth rate of the global seaweed market during 2022-2027?
2. What has been the impact of COVID-19 on the global seaweed market?
3. What are the key factors driving the global seaweed market?
4. What is the breakup of the global seaweed market based on the environment?
5. What is the breakup of the global seaweed market based on the product?
6. What is the breakup of the global seaweed market based on the application?
7. What are the key regions in the global seaweed market?
8. Who are the key companies/players in the global seaweed market?