[193 Pages Report] The Commercial Seaweeds Market size was estimated at USD 21.61 billion in 2023 and expected to reach USD 23.19 billion in 2024, at a CAGR 8.19% to reach USD 37.50 billion by 2030.
Commercial seaweeds refer to a broad category of macroscopic marine algae harvested for commercial use. These natural resources, predominantly found along rocky shorelines worldwide, are utilized in various applications, including human food products, animal feed, fertilizers, biofuels, and key ingredients in the pharmaceutical and cosmetic industries. The shift towards healthier lifestyles has elevated consumer demand for food products with nutritional benefits, including those high in vitamins, minerals, and antioxidants, which are abundant in seaweeds. Moreover, with a rising global emphasis on sustainable farming practices, seaweeds are gaining popularity as an organic fertilizer and soil conditioner owing to their high micronutrient content and biostimulant properties. However, changes in ocean temperatures and water pollution can affect seaweed cultivation and quality. In addition, stringent regulations regarding the harvesting and processing seaweeds may hinder market expansion. Furthermore, improvements in processing and extraction technologies and expanding utilization of seaweed-derived compounds as a potential source for biofuels and bioplastics offer significant growth opportunities to the market.
Type: Extensive utilization of brown seaweed in agriculture and industries where biochemical properties are essential
Brown seaweeds, primarily from the Phaeophyceae class, are a critical segment of the commercial seaweed market. Due to their high alginate content, species such as kelp and Ascophyllum are broadly utilized in food, agriculture, and biofuel industries. These seaweeds are particularly valued for their thickening and stabilizing properties, making them excellent for ice creams and cosmetics.
Green seaweeds come from the Chlorophyta class and are less commonly used than their brown and red counterparts. They are often used in the cosmetics industry for their gelling properties and potential skincare benefits. Furthermore, Green seaweeds such as sea lettuce are popular in culinary applications, particularly within health food markets, because of their high protein content and vitamins. Red seaweeds account for a significant share of the commercial seaweed market, with species such as nori and dulse being highly popular. They are predominantly used for human consumption, especially in East Asian cuisines. Carrageenan extracted from red seaweeds is widely used as a gelling, thickening, and stabilizing agent. Its applications span the food and beverage industry, personal care products, and pharmaceuticals.
From: Growing preference towards liquid seaweed as it can be quickly absorbed by plants and skin
Seaweed flakes are dehydrated seaweeds processed into small, flat pieces. This form is commonly used in culinary applications, as it can easily be added to dishes such as soups, salads, and stews to enhance flavor and nutritive value with minerals, including iodine. Liquid seaweed products are typically derived from the extraction or solubilization of seaweeds. These products are favored for their ease of application in agricultural activities as biostimulants and in the cosmetic industry as components in skin and hair care formulations. Seaweed powder is made by drying and finely grinding seaweed. This form allows for a concentrated source of seaweed nutrients and is versatile in various applications, from health supplements to food additives and agricultural products.
Application: Extensive application of seaweeds in the cosmetics industry
In the agricultural sector, seaweeds are used as biofertilizers and soil conditioners. They are rich in beneficial microorganisms that enhance soil quality and plant growth by providing essential nutrients such as nitrogen, potassium, and phosphorous. Seaweeds serve as an essential supplement in animal feed due to the high content of minerals, proteins, and vitamins. They are known to improve gut health, increase immunity, and enhance overall livestock productivity. The preference in animal feed hinges on the health benefits and nutritional richness seaweed can provide for animals.
Seaweed extracts are popular in cosmetics for their moisturizing, anti-aging, and antioxidant properties. They cater to consumer preferences for natural and organic personal care products. As human food, seaweeds are consumed for their health benefits, including high fiber content, low calories, and rich vitamins and minerals. Seaweeds feature prominently in various cuisines, especially in Asian diets. The need is driven by the growing consumer trend towards nutritious and plant-based foods. The pharmaceutical segment leverages seaweeds for their bioactive components, making them valuable in drug development. They are used for their antiviral, antibacterial, and anticoagulant properties. The ongoing research into seaweed influences the demand in this sector as a source of novel medical compounds.
Regional Insights
The commercial seaweed market in the Americas is increasing, with the United States and Canada as key players. The health-conscious consumer segment drives the U.S. market, looking for natural and sustainable product alternatives. Seaweeds are increasingly used in health foods, snacks, and as functional ingredients. In Canada, the market is developing due to the increasing use of seaweed in animal feed, agriculture, and nutraceuticals. Investments in the Americas tend to center around sustainable harvesting, innovative product development, and expansion of seaweed aquaculture. EU countries demonstrate strong growth potential, increasing demand for seaweeds as food additives in hydrocolloids and cosmetics. The market for seaweeds in the Middle East is relatively small but growing due to its health benefits and functionality as a food additive. The Asia Pacific region dominates the global commercial seaweed market, with countries including China, Japan, and India leading the production and consumption. Seaweeds are an integral part of the diet in this region; thus, consumer needs are driven primarily by traditional usage in food applications. The aquaculture industry in APAC is robust and benefits from governmental support and investments in research and development, which has significantly enhanced the demand for commercial seaweed.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Commercial Seaweeds Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Commercial Seaweeds Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Commercial Seaweeds Market, highlighting leading vendors and their innovative profiles. These include Acadian Seaplants Limited, ALGOLESKO, Atlantic Sea Farms, AtSeaNova, Biostadt India Limited, Brandt Consolidated, Inc., Cargill, Inc., Cascadia Seaweed Corp., CJ CheilJedang Corp., CP Kelco U.S., Inc., Dalian Kowa Foods Co., Ltd., DuPont de Nemours, Inc., Gelymar S.A., Gimme Health Foods, Inc., Groupe Roullier, Indigrow Ltd., Kelp Industries Pty. Ltd., Mara Seaweed Ltd., Pacific Harvest, Qingdao Judayang Algae Industry Group Co., Ltd., Qingdao Seawin Biotech Group Co., Ltd., Seasol International Pty. Ltd., The Cornish Seaweed Company, The Seaweed Company, and W Hydrocolloids, Inc..
Market Segmentation & Coverage
This research report categorizes the Commercial Seaweeds Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Type
- Brown
- Green
- Red
- Form
- Flakes
- Liquid
- Powder
- Application
- Agriculture
- Animal Feed
- Cosmetics & Personal Care
- Human Food
- Pharmaceutical
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report offers valuable insights on the following aspects:
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
- What is the market size and forecast of the Commercial Seaweeds Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Commercial Seaweeds Market?
- What are the technology trends and regulatory frameworks in the Commercial Seaweeds Market?
- What is the market share of the leading vendors in the Commercial Seaweeds Market?
- Which modes and strategic moves are suitable for entering the Commercial Seaweeds Market?
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