Commercial Seaweeds Market Growing at 9.8% CAGR from 2022 to 2031; to Hit $45.6 Billion by 2031

The global commercial seaweeds market size was valued at $17.9 billion in 2021, and is estimated to reach $45.6 billion by 2031, growing at a CAGR of 9.8% from 2022 to 2031.

Demand for seaweed products has been spurred by changing consumer tastes and lifestyles, increased awareness of the health advantages of seaweeds, and an increase in lifestyle choices. The need for seaweed as food has also expanded as people from Asia-Pacific nations have moved to other regions of the world, which is fueling the expansion of the commercial seaweed industry.

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Seaweed, often known as macro-algae, is a group of marine macroscopic, multicellular algae that includes numerous species. Based on color, it can be divided into three major categories: red, brown, and green seaweed. The Asia-Pacific region, specifically China, Indonesia, the Philippines, Korea, and Japan, where seaweed cultivation has grown into a massive industry, is where these seaweeds are primarily used as food and culinary components. The global market for food and related items is becoming more and more competitive due to the growing popularity of seaweed farming.

The increasing use of seaweed across a range of end-use industries is predicted to fuel market expansion. The industry's product application scope is anticipated to increase as the pharmaceutical sector grows. This is also anticipated to positively impact the global commercial seaweeds market growth during the forecast period. Due to an increase in the consumption of seaweed by humans, the food and beverage industry segment dominates the market.

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The region that dominated the global commercial seaweeds market in 2021 was Asia-Pacific with the highest commercial seaweeds market share and this dominance is anticipated to continue during the forecast period. The main producers of seaweed include China, South Korea, Japan, and Indonesia. In this location, there is a huge market demand for seaweed for use in animal feed and other pharmaceutical applications. The region's market is expanding due to the rising use of commercial seaweeds, particularly in nutraceuticals, food, medications, personal care products, gels, and adhesives. All these commercial seaweeds market trends are creating commercial seaweeds market opportunities.

The major players analyzed for global commercial seaweeds industry are Cargill Incorporated, CJ Cheiljedang Corporation, Corbion NV, Gimme Health Foods Inc., Irish Seaweeds, J.M. Huber Corporation, Mara Seaweed, Ocean Harvest Technology Limited, Qingdao Gather Great Ocean Algae Industry Group Co., Ltd (GGOG), Roland Foods, LLC, SeaSnax, Seasol, Seaweed & Co., Singha Corporation Co. Ltd., and Taokaenoi Food & Marketing PCL.

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