Commercial Seaweed Market Size is Anticipated to Reach USD 16.9 billion in 2028 and Registering CAGR of 10.10% from 2021 to 2028.
In the food sector, animal feed, medicines, and other industries, the use of hydrocolloids like carrageenan, alginate, and agar has expanded in recent years. This has resulted in an increase in algal production and a surge in commercial seaweed demand. Furthermore, the health benefits linked to the consumption of macro algal products are encouraging consumers to include commercial algae in their regular diet. People all around the world have become more aware of environmental challenges in recent years, which has led to the creation of solutions to decrease environmental stress. Growing consumer knowledge of environmental issues has resulted in substantial shifts in consumer tastes, driving demand for sustainable products. Because macro algae is a fast-growing, nutrient-rich alga that absorbs carbon dioxide and releases oxygen, it is considered sustainable. The increased popularity of veganism and plant-based goods that support animal welfare is also contributed to the growing demand for macro algae cultivation.
The global commercial seaweeds market has been segmented based on type, method of harvesting, form, application and region.
By type, the global commercial seaweeds market has been classified as red seaweeds, brown seaweeds, and green seaweeds.
By method of harvesting, the global commercial seaweeds market has been classified as aquaculture and wild harvesting.
On the basis of form, the global commercial seaweeds market has been segmented into liquid, powder, flakes, and others..
On the basis of application, the global commercial seaweeds market has been divided into food & beverages, animal feed, and agriculture. Food & beverages segment is further bifurcated into convenience food, dairy & frozen desserts, meat, poultry, & seafood, bakery & confectioneries, and others.
The global commercial seaweeds market has been studied with regard to four key regions—North America, Europe, Asia-Pacific, and the rest of the world.
The North American Commercial Seaweeds market has further been segmented into the US, Canada, and Mexico. The European Commercial Seaweeds market has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe. The Commercial Seaweeds market in Asia-Pacific has been divided into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The Commercial Seaweeds market in the rest of the world has been segmented into South America, the Middle East, and Africa.
Global Commercial Seaweeds Market Share (%), by Region, 2020
Asia-Pacific is expected to dominate the commercial seaweeds market during the forecast period. The region’s dominance can be attributed to various factors such as the presence of several market players, increasing awareness regarding health benefits of commercial seaweeds among consumers. commercial seaweeds provide several health benefits, which leads to its usage in preventing heart diseases, diabetes and helps in maintaining gut health. Increasing usage of commercial seaweeds as vegetable and there is a surge in usage of seaweeds as a binding and thickening agent in various bakery products. Thus, expecting commercial seaweeds to render a significant share of the market in Europe during the upcoming years. However, North America is anticipated to register the highest CAGR due higher inclination of consumers towards trying commercial seaweeds, as the seaweeds are used as bio stimulant extracts for crops and also as feed supplements.
Recent Development
In 2024, Sway, a California-based bioplastic producer, presented a new ground-breaking technique that they expect will make commercial production of seaweed-based bioplastics possible. Sway's Thermoplastic Seaweed resin (TPSea) is a completely biobased, home-compostable, microplastic-free ingredient derived from a regenerative ocean crop that contributes to ecosystem structure and function while also benefiting coastal communities.
November 2023: Cargill announced its plans to increase production of seaweed in Southeast Asia in view of the increasing need for seaweed-based products. The company underscored its commitment to investment in sustainable harvesting methods and cutting-edge technologies to obtain high-grade carrageenan and alginate that are vital to the food, pharmaceutical and personal care industries. Cargill focused on environmental sustainability by working together with seaweed farmers in the region to improve farming methods and promote biodiversity. It supports the company’s aim to increase its footprint in the global seaweed industry while addressing the trend towards more plant-based and natural ingredients among consumers.
October 2023: Acadian Seaplants Limited launched a new range of bio-stimulants for agricultural use that are sourced from seaweed. These bio-stimulants are sold under the Acadian BioTech™ where they are designed to be effective in enhancing plant growth, tolerance to stress and improving yields of crops. The Company reiterated that its products are 100% natural and sustainably harvested from the North Atlantic seaweed. Acadian Seaplants intends to focus on North American and European markets where seaweed-based sustainable agricultural inputs have received acceptance. The launch is part of the strategic initiatives of the company in diversifying its seaweed portfolio in commercial species targeting both the agricultural and non-agricultural domains.
Key Players in the Global Commercial Seaweeds Market
Intended Audience
Commercial Seaweeds Market Highlights:
Frequently Asked Questions (FAQ) :
Food & beverages is the largest application segment in the global commercial seaweeds market.
Increasing consumption as a biomass for biofuel production and augmenting demand for organic & natural ingredients, are the major tailwinds pushing the growth of the global commercial seaweeds market.
Lack of knowledge about the benefits, are major growth impeders for the global commercial seaweeds market.
Asia Pacific holds the largest share in the global commercial seaweeds market, followed by Europe and North America, respectively.
Cargill, Incorporated (US), Algaia SA (France), DowDuPont Inc. (US), Compañía Española de Algas Marinas S.A. (Spain), Acadian Seaplants Limited (Canada), Extractos Naturales Gelymar S.A.(Chile), CP Kelco U.S., Inc. (US), Biostadt India Limited (India), Compagnie Financiere et de Participations Roullier S.A. (France), and COMPO EXPERT GmbH (Germany), are some of the top players operating in the global commercial seaweeds market.
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Senior Research Analyst I have a bachelor's degree in mechanical engineering and an mba. i have more than two years of expertise in the retail, food, and beverage, chemical, and material industries, and hence have developed a sound cross-domain expertise. a firm believer in lifelong learning and sharing of knowledge. having a proclivity for hatching ideas and trying to absorb as much information as possible in a short amount of time. introducing corporates to the data and insight, which enables them to move from probability to possibility, has been my key areas of interest.Â
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