Commercial Seaweed Market Key Player Global Analysis of Aquatic Chemicals, Seasol International, Indigrow Ltd., Algea AS, Yan Cheng, Pacific Harvest, Chase Organics GB Ltd., Mara Seaweed

The growth rate of the global commercial seaweed market is anticipated to experience an upward trend in the coming years, primarily on account of innumerable health benefits that is product is renowned to offer. Seaweeds are naturally-derived products, possessing a wide spectrum of health benefits, such as reduction in blood cholesterol level. They are cultivated worldwide, often in areas with high water content such as oceans & seas, and can be segregated by their color into red, brown, and green seaweeds. The product in particular, is known to extend human life. For instance, Okinawa, a small seaside village in Japan, has over 100 of its 3000 residents above 90-years of age.

Notably, this community is famous for longevity traits, which researchers believe is linked to the food consumption habits of locals. Here, the villagers’ diet is mainly composed of freshly procured seaweed and local vegetations. Considering the astounding benefits that seaweeds offer many renowned restaurants across the globe have introduced seaweed products in their menu, thereby escalating product demand. For instance, Irish Moss is a popular Caribbean beverage, prepared with a blend of seaweed, spices, sweetened milk, and rum.

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Burgeoning demand for seaweed products specifically in the food industry along with increased cultivation of hydrocolloids is touted to positively influence the industry landscape in the future. For instance, dried wakame, a kind of seaweed, is immersed in warm water until it expands, to form the base for a traditional Japanese seaweed salad, which is frequently served in sushi restaurants worldwide. Increasing awareness regarding advantages of seaweed products especially in pharma and fertilizer industry along with escalating incorporation for seaweeds across several medicinal products is expected to augment commercial seaweed market demand in the future.

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.

Complete report for 2017-2024 on Commercial Seaweed market is now available at https://www.marketstudyreport.com/reports/commercial-seaweed-market

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