Press release
Commercial Seaweed Global Market will Exceed $34.79 Billion By 2028 with a Projected CAGR of 12.3% | Cargill Inc., Gelymar SA, Indigrow Ltd., Mara Seaweed Ltd., Leili Group
Commercial Seaweed Market
As per the report, the commercial seaweed market size has grown rapidly in recent years. It will grow from $19.42 billion in 2023 to $21.88 billion in 2024 at a compound annual growth rate (CAGR) of 12.7%. The commercial seaweed market size is expected to see rapid growth in the next few years. It will grow to $34.79 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%.
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Surging Demand For Plant-Based Products Fueling Growth In The Commercial Seaweed Market
The increasing consumption of plant-based products will propel the growth of the commercial seaweed market going forward. Plant-based food refers to a finished product consisting of ingredients derived from plants that include vegetables, fruits, and whole grains. Commercial seaweed is used in the manufacture of plant-based foods. These seaweeds help to increase protein content in plant-based products. For instance, in 2023, according to the Good Food Institute, a US-based non-profit organization, the U.S. retail market for plant-based foods reached a value of $8 billion in 2022, reflecting a 7% increase in dollar sales compared to the previous year. Therefore, increasing consumer consumption of plant-based products is driving the commercial seaweed market growth.
Technological Advancements Propel Commercial Seaweed Market
Technological advancement is a key trend gaining popularity in the commercial seaweed market. Major companies operating in the commercial seaweed sector are focused on developing technological innovations to sustain their position. For instance, in May 2021, Panorama, a Germany-based organization that focuses on innovative solutions for conservation and sustainable development, launched new innovations in tubular nets, which work on 'off-bottom' peg and rope technology. This helps in improving seaweed productivity and local ecological conditions. Also, these prevent the growth of the high-value Cottonii seaweed species, which helps to get good quality seaweed.
The commercial seaweed market covered in this report is segmented -
1) By Product: Brown Seaweeds, Red Seaweeds, Green Seaweeds
2) By Type: Liquid, Powdered, Flakes
3) By End User: Food and Beverages, Agricultural Products, Animal Feed Additives, Pharmaceuticals, Other End Users
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Major companies operating in the commercial seaweed market report are Cargill Inc., E.I. du Pont de Nemours Inc., CP Kelco U.S. Inc., BrandT Consolidated Inc., Acadian Seaplants Limited, Gelymar SA, Extractos Naturales Gelymar S.A., Seasol International, Indigrow Ltd., Ocean Harvest Technology Limited, AquAgri Processing Pvt. Ltd., West Coast Marine Bio-Processing Corp., The Seaweed Company B.V., Pacific Harvest, The Irish Seaweed Company, AtSeaNova, Seaweed Solutions AS, Shore Seaweed Co., Dalian Ocean University Seaweed Industry Group, Algaia SA, Rhodomaxx Sdn. Bhd., Qingdao Gather Great Ocean Industry Group (GGOG), Kelp Industries PTY. Ltd., Nantong Xinlang Seaweed & Foods Co. Ltd., Mara Seaweed Ltd., Leili Group, Dycolor Seaweed Industries, Shandong Qingdao Lihua Seaweed Industry Group Co. Ltd., Travena Organic Solutions Ltd.
Contents of the report:
1. Executive Summary
2. Commercial Seaweed Market Report Structure
3. Commercial Seaweed Market Trends And Strategies
4. Commercial Seaweed Market - Macro Economic Scenario
5. Commercial Seaweed Market Size And Growth
…..
27. Commercial Seaweed Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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