Commercial seaweed Market Key Analysis On Top Key Players - Algea AS, Yan Cheng, Pacific Harvest, Chase Organics GB Ltd., Mara Seaweed

Commercial seaweed market has gained increased traction in recent years as seaweed, which has been extensively used in traditional cuisine of China, Japan and Korea has received a new-found status of superfood in the western world. Seaweeds that come in a multitude of texture, color sizes and shapes, have been evaluated and found to be full of nutrients which include minerals, copper, calcium, iron and iodine. Seaweeds are also rich in fiber, protein and vitamins while being low in fat and calories.

It is a notable fact that Japanese have one of the highest life expectancies in the word while the Japanese cuisine is known for its extensive use of seaweeds. With the impressive nutritional profile and long life led by Japanese, food industry has come to register increased demand for seaweeds and the commercial seaweed market is expected to garner increasing profits from the recognition of health benefits of the product.

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Due to the presence of a certain molecule called fucoidans that can contribute to the extension of life expectancy as well as boost immunity and cardiovascular function, seaweeds are capturing an entire new segment in the culinary world. Commercial seaweed market has forged a profitable growth avenue as processed seaweeds have come to be used in the food processing industry in form of hydrocolloids in canned fish, dairy, meat & poultry processing and in desserts & jellies. Beyond the food industry application, it is significant to mention that seaweeds have gained a place of prominence among climate change proponents as recent research has conclusively indicated that feeding seaweed to cows can cause considerable reduction in methane production.

Growing consciousness of consumers on their health, rise in vegetarian population especially in Europe will fuel the demand for seaweeds. The rising demand for seaweeds, in the manufacture of hydrocolloids, such as agar, alginate, and carrageenan are projected to spur the increasing demand for commercial seaweed products in the forecast period. Applications of seaweeds in other end-users like biofuel generation, and effluent treatment & cosmetics are further predicted to accelerate the demand of seaweeds globally over the projected period.

Unstable prices of seaweeds in their wet form, act as a major restraint to the growth of global market over the forecast period. The prices of seaweeds in their wet form vary frequently dependent on numerous aspects, such as production, environment, and improper distribution in some particular regions.

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The demand of red seaweeds is determined to grow at a major CAGR, over the studied period. Increasing demand for Nori, and Dulse (red seaweeds), particularly in Asia Pacific as an additive in soups, along with growing consumption of red & brown seaweed in form of agar & alginates in pharma & medical end-user will give a significant boost to the growing global market in the anticipated period.

Powder seaweed segment is predicted to gain developed acceptance rate more than liquid seaweed products in industries such as textile, direct food, pharma & medical, food additives among others and will have a growth over 8% CAGR over the coming years. In the agriculture industry, the major use of liquid seaweeds is for the manufacture of liquid fertilizers. As the seaweed products are naturally-derived, they have the qualities to improve the quality of soil, which will in turn improve the agricultural productivity. The demand for liquid seaweeds is anticipated to increase at a notable CAGR, because of their increasing end-user applications like fertilizer sprays.

The Asia market will increase at a CAGR over 8%, during the entire timeframe. Due to rising seaweed cultivation activities, the consumption of seaweed-based products is increasing in developing nations such as Japan, South Korea, and China. The commercial seaweed market in Europe is predicted to increase at second major CAGR till the end of 2024, because of increasing seaweed demand for food additives. North market is also determined to grow at a moderate CAGR for applications in textiles, and food additives end-users.

Significant global players in global market are Aquatic Chemicals, Seasol International, Indigrow Ltd., Algea AS, Yan Cheng, Pacific Harvest, Chase Organics GB Ltd., Mara Seaweed, Acadian Seaplants Ltd., CP Kelco, and others.

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