Latest Research on Commercial Seaweeds Market 2019 with CAGR 8.1%| Top Players Cargill Inc., E.I. Du Pontde Nemours and Company, Roullier Group, etc.

The Global Commercial Seaweeds Market was valued at USD 13.68 Billion in 2018 and is expected to reach USD 25.63 Billion by the year 2026, at a CAGR of 8.1%.

The market for commercial seaweeds is expanding by leaps and bounds, especially in some regional segments. Their high nutritional value and continuously growing sustainable harvest practices are making them popular in the food and other industries.

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Partnerships and product portfolio expansion are frequently witnessed in this industry as this enables in attracting huge consumer segments. The market is a hub of research and innovation till date, with a current focus on animal livestock and cosmetic sector products. Since the origin is completely organic, the product is being accepted more by the consumers, and is expected to witness impressive growth in the coming years.

In market segmentation by manufacturers, the report covers the following companies:- Cargill Inc., E.I. Du Pontde Nemours and Company, Roullier Group, Biostadt India Ltd., Compo GmbH & Co., Dalian Kowa Foods, Acadian Seaplants Pvt. Ltd., CP Kelco, Bunge Ltd., Seaweed & Co. In February 2019, Cargill Inc.

Insufficient financial funding and untapped potential in the marine sector are restricting the market to grow to its full potential. However, increasing sustainability norms are expected to propel growth and push the demand forward.

For the purpose of this study, Reports and Data have segmented the Commercial Seaweeds market on the basis of type, method of harvesting, form, application, and region:

Type (Revenue, USD Million; 2019-2026)
Red Seaweeds
Brown Seaweeds
Green Seaweeds

Method of Harvesting (Revenue, USD Million; 2019-2026)
Aquaculture
Wild Harvesting

Form (Revenue, USD Million; 2019-2026)
Liquid
Powder
Flakes

Application (Revenue, USD Million; 2019-2026)
Food (Dairy Products, Meat & Poultry Products, Bakery Products, Confectionery Products, Others)
Animal Feed Additives
Agriculture
Cosmetic and Personal Care
Pharmaceuticals
Others

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Regional Outlook (Revenue in USD Million; 2019-2026)
North America
Europe
Asia Pacific
Middle East and Africa
Latin America

Further key findings from the report suggest:-

Red seaweeds have a high mineral and antioxidant content, leading to their increasing use in the pharmaceuticals segment. Initially, their medical application was restricted to traditional medicines only. Today, the product is helping in biochemical research and the hydrocolloid industry.

Brown seaweeds assist with protection from marine pathogens due to the presence of a compound called fucoidan. They are also known to have skin benefits like the ability to provide skin elasticity. Due to the increase in their usage, they are projected to be the fastest growing application segment.

Market players are continuously launching new products and programs to diversify their portfolio and stand out in the market for their specialized services. In February 2019, Cargill launched its Red Seaweed Promise program to establish standards of sustainability for the red seaweed variety. The effort is expected to make the global supply chain for red seaweed more traceable and transparent.

Seaweeds are becoming popular as healthy snacks in the food segment and have a growing industrial application especially with the growth of automation for harvesting purposes. These are some factors contributing to their impressive growth during the forecast period.

The product is known to have many health benefits such as the ability to help in digestion mechanisms, lowering cholesterol and weight loss. This is making them popular both in the pharmaceutical segment and health foods industry. The pharmaceuticals segment under application is projected to grow at a CAGR of 7.3% during the period of forecast.

Seaweeds are being used more for animal fodder. They can either be used directly or mixed as an additive to enhance the nutritional content of food consumed by animals. This is a prominent area of market innovation as companies are engaged in their efforts to make fodder rich in its nutritional content and sustainable in the manner of harvesting.

The resource base for commercial seaweeds is becoming stronger in the North American region. This region is expected to register the highest CAGR during the forecast period. A major reason behind the industrial growth is the migration of people from seaweed-consuming areas to the North American region.

By the method of harvesting, aquaculture holds the largest share. This segment is growing due to the rising demand for Carrageenan, Agar-Agar, Alginates, and many other varieties of seaweeds. The product is readily being used as a raw material for the hydrocolloid industry.

Seaweeds undergo significant testing before being used in any application. Wild harvesting is becoming unpopular gradually because it has been found to be contaminated easily by heavy metals and ingredients harmful to living beings.

In July 2019, Seaweed & Co. has entered into a partnership with Univar Solutions, to expand their presence in the European markets. This is a strategic move by the company to take advantage of the prosperous growth opportunities across Europe and exploit the untapped potential.

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Mergers and Acquisitions

The growth of this Commercial Seaweeds Market across the globe is dependent on multiple factors; including consumer base of several Commercial Seaweeds Market products, inorganic growth models adopted by companies, price volatility of feedstocks, and product innovation, along with their economic prospects in both producer and consumer nations.

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