Global Seaweed market Trends, Outlook, Overview and 2023 Forecast

Market Scenario:
Increase in demand for natural food extracts imparting health benefits is likely to drive the market for seaweed. High demand for nutritional foods and alginates in food products is influencing the growth of seaweed market as a key ingredient. Seaweed is not only used in food industries but also have a wide applications in pharmaceutical industries based on the anti-cancer property of the product. Advancement in technology in the food sector has supported in fueling up the market share by extraction and consumption of beneficial compounds of seaweed.
Red seaweed is evaluated to increase at higher rate based on its high vitamin and mineral concentration. Red seaweed also helps in regulating the blood sugar level of the body. Based on the form of seaweed, the share held by liquid followed by powder form is found to escalate due to convenience usage and high shelf-life. Based on the end use application of the product, food industries followed by application in personal care products is found to be dominating the segment. In addition, based on the changing life-style in various regions, the sale of the product in various developed countries is found to be rising.

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Market Definition:
Seaweed are defined as macroscopic and multicellular marine algae which are used to extract many important gums and are present globally. Seaweed are mainly used in cosmetics, in paints and also for the manufacture of adhesives. Seaweed are also used dyes, gels and in textile and paper industries. Seaweed are available in various forms and their extracts are used widely across the food industries. Seaweeds are rich source of calcium, vitamin K and Iron which makes its consumption more beneficial as it provides several health benefits.

Segments
• Seaweed has been segmented on the basis of type which comprises Brown Seaweed, Green Seaweed, and Red Seaweed. Red Seaweed is found to hold a major share due to its high antioxidant concentration.

• Seaweed has been segmented on the basis of form which comprises Powder, Liquid, Flakes, Others. Liquid form of Seaweed holds a lion’s share based on better shelf-life of the product.

• Seaweed has been segmented on the basis of End Use which comprises Textile Industry, Food, Paper and Pulp, Welding Rods, Pharmaceuticals, Personal Care products, Others. Food industries are found to hold a major share followed by Personal Care Products.

Key players
The key players profiled in the Global Seaweed Market are
• Cargill Foods (U.S.),
• P.L.Thomas and Co., Inc (U.S.),
• Ingredients Solutions, Inc. (U.S.),
• Snap Alginates (India),
• Polygal Ag (Switzerland),
• Arthur Branwell & Co., Ltd (U.K.),
• Kimica Alginates (Japan)

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Key Findings:
• Powdered form of the product is evaluated to grow at a steady rate
• Top exporters of Seaweed include China, Japan, U.S., U.K. and Canada

Intended Audience

• Seaweed Manufacturers
• Textile Industries
• Food Industries
• Retailers and Wholesalers
• Traders, Importers and Exporters

Regional Analysis

The Global Seaweed Market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Asia-Pacific region has the major market share followed by North America. Developing economy has led to increase in disposable income due to which Asia-Pacific is projected to generate a high revenue during the given forecast period. Changing consumer’s lifestyle backed by reason as seaweed is healthy food will augment its sale across various regions during the forecast period. The Major importers of Seaweed include Thailand, Japan, China, Australia and U.S. Based on the rise in health consciousness among the consumers, the import and export in the developed countries is found to rise.

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Akash Anand,
Market Research Future
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This release was published on openPR.