Commercial Seaweeds Market Detailed Analysis & Focusing on Key Leaders are Indigrow Ltd., Chase Organics GB Limited, West Coast Marine Bio-Processing Corp., Seasol International Pty. Ltd.

The main objective of this report is to define, describe, and forecast the global “Commercial Seaweeds” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market.

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Growing application of seaweed in the pharmaceutical and food sector is supporting the market growth

Continuously increasing product application scope in the pharmaceutical sector is projected to boost the market growth. Various properties of commercial seaweeds such as thickening and gelling agent, which are applicable in hydrocolloid industries, is expected to drive the market further. Regulations regarding the production and harvesting of seaweeds concerning human consumption, animal feed, and agricultural use are expected to augment the market. Seaweeds serve as a major food product in the Asia Pacific region. Increased consumption of organic foods is expected to fuel the product demand in the coming years.

Growing awareness about the health benefits of seaweed among new and existing consumers is boosting the demand of seaweeds

Rising awareness regarding product health benefits among new and existing consumers is helping to boost the demand of seaweed market globally. Additionally, the growing demand for seaweed-derived foods and snacks is expected to boost the demand from the food industry. The growing demand for aquatic plant extracts, which is used as gelling and thickening agents in the food and cosmetic industries, is also projected to foster market growth globally.

CIFT, India, launched nutri-drink with seaweed extract

February 2017, Kochi(India)-headquartered Central Institute of Fisheries Technology (CIFT) has developed a nutritional drink, grape juice with seaweed extract, which was launched in Delhi, India. According to CIFT scientists, edible seaweeds are rich in natural antioxidants, dietary polysaccharides, proteins, minerals, and vitamins. This grape juice made with extracts of sargassum, brown seaweed, does not use any chemicals and can be stored for six months without any damage. The grape juice has 25% seaweed. Seaweeds are mainly used as gelling and thickening agents in food or pharmaceutical industries and are a huge source of bio-fertilizers.

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Asia-Pacific to influence the Global Commercial Seaweeds market through 2018-2024

Geographically, the Asia Pacific is the largest regional market of commercial seaweeds. Its market is anticipated to expand further at a good CAGR during the forecasted period. The growth in the seaweed market is primarily attributed to increased demand and production from countries such as Japan, China, South Korea, and Indonesia. This region is estimated to expand further due to increasing awareness about the use of commercial seaweed in the pharmaceutical sector.

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