Global Commercial Seaweed Market-Segmented by Type, Form, Source and Geography (2017-2022)

Market Insights

The Global Commercial Seaweeds Market is estimated to be valued at USD 11.5 billion in 2016 and is projected to reach USD XX billion by 2022, at a CAGR of 9.3% from 2017 to 2022.

Of this, food products for human consumption contribute to about USD 5 billion of the total market. Substances that are extracted from seaweeds mainly consist of hydrocolloids or gelling agents, which account for a major share of the market. Other usages, such as in fertilizers and animal feed additives, also make up a significant market share.

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Seaweed is high in nutrients and packs a variety of health benefits. These include digestive health, cholesterol-lowering effects, and weight loss making it a powerful commercial dietary food. Commercial harvesting occurs in about 35 countries, spread between the Northern and Southern Hemispheres, in waters ranging from cold, through temperate, to tropical. Seaweed is harvested either from naturally growing or wild seaweed or from cultivated or farmed crops. The farming of seaweed has expanded rapidly as the demand has outstripped the supply available from natural resources.

Market Dynamics

The factors driving the global commercial seaweed market are the use of seaweed as a hydrocolloid and a gelling agent in various food items, as a vegetarian and vegan alternative to gelatin and as an alternative to gelling agents in confectionery items such as ice cream and jelly. Increasing awareness of the medicinal benefits of seaweed is another factor driving the market. Seaweed is a great source of vitamin K, calcium, and iron. In addition, seaweed contains omega-3 fatty acids, which help to raise the healthy HDL (High-Density Lipoprotein) cholesterol levels, while lowering the harmful LDL (Low-Density Lipoprotein) cholesterol levels and improving overall heart health.
Asian foods, such as sushi, are gaining immense popularity in the Western world, which results in a huge market for commercial seaweed in the developed countries of the West. However, the negative impact of seaweed harvesting on the environment, such as changes induced in marine and coastal environment, and high arsenic and mercury content in wild seaweed, act as restraints for the market.

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Market Segmentation

The market is segmented by type into brown seaweed, green seaweed, and red seaweed. Red seaweed accounts for the largest market share in 2016, followed by brown and green seaweed. Red seaweed is used on a large-scale, due to its easy availability and use in a wide-range of industrial sectors. Commercial seaweed can be found in the form of flakes, liquid, and powder, with flakes being the most widely consumed form of edible seaweed. Seaweed is increasingly being cultivated to meet the demand, as well as, to avoid the negative environmental impact that harvesting wild seaweed has on the ocean ecology. The major application of seaweed is in the food for human consumption, followed by animal feed. Countries in East Asia use a large amount of seaweed in their cuisine. With the impact of globalization and changing eating habits, many Western countries are also adopting seaweed in their diet, contributing to the market commercial seaweed market growth.

Regional Analysis

Asia-Pacific constitutes the largest market for commercial seaweed, cornering an estimated share of about XX% in 2016. Seaweed constitutes close to 10% of the Japanese diet. In 2016, Japan, China and South Korea are estimated to have consumed the lion's share of seaweed, though the rapidly growing popularity of sushi has seen a spike in the demand from the U.S., Europe, and South America.

Some of the major players capturing the commercial seaweed market include:

1. E.I. Dupont De Nemours and Company
2. Cargill
3. Roullier Group
4. Compo Gmbh & Co. Kg
5. Biostadt India Limited
6. Acadian Seaplants Limited
7. Brandt
8. CP Kelco
9. Gelymar and Seasol International Pty. Ltd.

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Future Spotlight

Demand for seaweed derived snacks is on the rise in many parts of the world due to the rising demand for healthy food, encouraging manufacturers to focus on marketing the health benefits of seaweed. Scientific developments in commercial seaweed production and harvesting are also creating opportunities in the market.

Key Deliverables in the Study

• Market analysis for the global commercial seaweed market, with region-specific assessments and competition analysis on a global and regional scale.
• Market definition along with the identification of key drivers and restraints.
• Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
• Extensively researched competitive landscape section with profiles of major companies along with their market share.
• Identification and analysis of the macro and micro factors that affect the global commercial seaweed market on both, global and regional scales.
• A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
• A wide-ranging knowledge and insight about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
• Insights on the major countries/regions where this industry is growing and identify the regions that are still untapped.

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