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Commercial Seaweed Market Set for Rapid Expansion during Forecast Period 2021-2025
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Popularity of Exotic Cuisines to Complement Growth within Commercial Seaweed Market
A number of countries in in Mainland Southeast Asia are prominent consumers of commercial seaweed. This trend primarily owes to the heavy usage of seaweed in cuisines and salads prepared across these countries. Furthermore, the exotic nature of seaweed has made it a popular ingredient in foods prepared by the restaurant and hospitality industries. Indonesia and Malaysia are key consumers of seaweed, mainly due to the traditional use of the product in their local dishes. Over the course of the next few years, commercial seaweed is expected to replace several organic food ingredients. In addition to this, vegan lifestyles are at finding their way in the lives of several health-conscious consumers.
Growth in Seaweed Aquaculture to Drive Sales across the Market
Seaweed aquaculture accounts for 27% of the total global marine aquaculture production. This justifies the tremendous rate of growth anticipated across the global commercial seaweed market over the course of the next few years. In recent times, a number of research lines have come to prove that seaweed production shall enable mitigation of climate change. Seaweeds procured from aquaculture and wild stocks can help in reducing the global carbon footprint, points research. This is an exceptionally prominent consideration while assessing the growth dynamics of the global commercial seaweed market.
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Use of Seaweeds in Horticulture to Unlock New Avenues for Demand Generation
Seaweeds are used as an effective fertilizer across several plantations. The effectiveness of seaweed in nurturing plantation of fruits and vegetables shall be a key driver of market demand. Furthermore, cosmetic products are also blended with seaweeds due to the latter's efficacy in maintaining skin wellness. Several individuals have traded chemically-enhanced cosmetic products with their organic alternatives. This trend is, slowly but surely, creating renewed opportunities for expansion within the global market. The labels 'marine extract', 'seaweed extract', and 'marine algae extract' are frequently used on packaging of cosmetic products. Some of the added uses of seaweeds span into treatment of osteoporosis and rheumatism, creating fresh pathways for market growth.
Some of the prominent market players operating in the commercial seaweed market are Acadian Seaplants Limited, Cargill Incorporated, DuPont de Nemours, Inc, CP Kelco, Industrias Roko, S.A., Hispanagar, S.A, Agarmex S.A, CEAMSA, Gelymar S.A., and Iberagar S.A. These market players are expected to explore renewed uses of commercial seaweed in order to tap into the growth opportunities existing in the market.
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