Commercial Seaweeds Market to Witness Robust Expansion Throughout the Forecast Period 2022 - 2031

The global commercial seaweeds industry generated $17.9 billion in 2021 and is estimated to hit $45.6 billion by 2031, registering a CAGR of 9.8% from 2022 to 2031.

Growth in awareness about the benefits and medicinal uses of seaweeds, nutritive values of seaweeds, increase in use of seaweed across a range of end-use industries, and changing consumer tastes and lifestyles drive the growth of the global commercial seaweeds market. On a regional level, Asia-Pacific accounted for the highest market share in 2021 and would rule the roost through 2031.

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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.

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.

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The report offers a detailed segmentation of the global commercial seaweeds market based on product, form, application, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.

Based on region, the market across Asia-Pacific contributed to around half of the total commercial seaweeds market in 2021, and is expected to maintain its dominance during the forecast period. North America, on the other hand, would grow at the fastest CAGR of 10.5% from 2022 to 2031. The other two provinces discussed in the report include Europe and LAMEA.

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The key market players analyzed in the global commercial seaweeds market report include 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.

The report analyzes these key players of the global commercial seaweeds market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

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