The Seaweed Market at a value of USD 16.7 billion in 2024 and it is further expected to grow at a higher CAGR of 12.6% during the forecasted period to account for a higher market value share of approximately USD 30.2 billion by the end of the forecast period.
The multicellular and macroscopic algae found in the marine region largely used for the extraction of important gums all across the globe are called seaweed. These are commonly used in manufacturing adhesives, paints, and cosmetics. Besides this, they are also used in the paper industry, textile industry, gels, and dyes. Extracts of seaweed are available in different forms and used all across the globe in food industries. These are a rich source of Iron, Vitamin K2, and Calcium and hence contain various health benefits.
COVID 19 Analysis
The global pandemic of COVID 19 has affected a major chunk of the population. Many people have lost their livelihood because of this global pandemic. It has affected the dynamics and growth of several industries. Everyone is worried about their immunity and follows social distancing. During the lockdown situation, operational activities of various end-user industries were halted which resulted in a demand shrink for the seaweed market which further leads to decreased sales revenue. The supply chain networks were also disrupted which led to a decline in profit margin.
However, the seaweed market is expected to recover from this global pandemic by the end of the third quarter of the coming year by properly strategizing according to the needs of the market.
Numerous factors drive the market demand in the Seaweed Market. A huge increase in demand for natural extracts of food for providing various health benefits drives the market demand in the global market during the forecasted period. Increasing demand for seaweed as a key ingredient in various alginates foods and nutritional food products creates more market demand. Apart from the food industry, it is also used in the pharmaceutical industry which drives the market demand all across the globe. It is largely used to treat cancer as it has anti-cancer properties.
The rise in the demand for the seaweed market all across the globe. Increasing advancement in technology allows more cultivation of seaweed which provides various growth opportunities to food industries all across the globe during the forecasted period. Export of dried seaweeds also creates growth opportunities in those regions where its cultivation is not possible. Ongoing extensive research done by various major key players is another factor that provides several growth opportunities in the global market during the review period. The adoption of artificial intelligence and the internet of things enhances the production of seaweed and hence fuels the market growth.
Although the seaweed market is increasing tremendously in the global market, some factors restrict the market growth. One of the biggest restraining factors faced by seaweed manufacturers is the occurrence of uncontrollable natural calamities. Natural calamities like pests and diseases, volcanic eruptions, earthquakes, droughts, floods, and typhoons affect annual production and hence hinder the market growth. Moreover, the presence of various toxic minerals may cause more harm than good which again is one of the most crucial restraining factors.
The seaweed market is growing at an incredible rate globally due to various benefits associated with it. As it has high tyrosine and iodine content, it helps in supporting the thyroid. It is a very good source of various minerals and vitamins. It has various protective antioxidants that cause less damage to the cells. It helps in improving gut health as it is rich in polysaccharides and fiber.
The seaweed market has been divided all across the globe based on the type, form, end-users, and region.
The Seaweed Market has been divided all across the globe based on the type into red seaweed type, green seaweed type, and brown seaweed type. The largest market share is held by the red seaweed type as it has various high amounts of antioxidants present in it.
The market has been divided all across the globe based on the form into flakes form, liquid form, and powder form. The largest market share is held by the liquid form as it increases the shelf-life of the products.
The Seaweed Market has been divided all across the globe based on the end-user industry into personal care products industry, pharmaceuticals industry, welding rods industry, paper and pulp industry, food industry, textile industry, and many others. The largest market share in the global market is held by the food industries followed by the personal care industry.
The market has been divided in the global market based on the region into North American region, European region, Asia-Pacific region, Latin American region, and the Middle East and African region.
Regional Analysis
The most prominent major key players in the seaweed market all across the globe are mentioned:
These major key players use various strategies to sustain their market position in the seaweed market in the global market by going for mergers, and acquisitions, by collaborating, setting up a joint venture, establishing a partnership, developing a new product line, innovation in the existing product, developing a new production process, and many others to expand their customer base in the untapped market of the seaweed all across the globe.
Recent Developments
Cargill (Minnesota, U.S.) continues its commitment to sustainability. In June 2023, they signed a two-year agreement with CARE International to empower seaweed farmers in Vietnam, particularly women and ethnic minorities.
Report Outlook
This seaweed market research report consists of the following elements mentioned below:
This market research report contains factors that drive the growth of the seaweed market in the global market along with the factors that restrict its growth in the global market. The opportunities available for growth in the seaweed market during the forecasted period are mentioned. The impact of COVID 19 on the seaweed market all across the globe is mentioned. The future growth rate in the seaweed market during the forecasted period is estimated and mentioned.
Intended Audience
Traders, importers, exporters, retailers and wholesalers, food industries, textile industries, seaweed manufacturers, and many others.
| Report Attribute/Metric | Details |
| Market Size | USD 30.2 Billion |
| Compound Annual Growth Rate (CAGR) | 12.6% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Â Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Â By Type, By Form, By End Use, and By Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea |
| Key Companies Profiled | Â Kimica Alginates (Japan), Arthur Branwell & Co. Ltd. (UK), Polygal Ag (Switzerland), Snap Alginates (India), Ingredients Solutions Inc. (US), P.L. Thomas and Co. Inc. (US), Cargill Foods (US) |
| Key Market Opportunities | Â The adoption of artificial intelligence and the internet of things enhances the production of seaweed |
| Key Market Dynamics | Â A huge increase in demand for natural extracts of food for providing various health benefits |
Seaweed Market Highlights:
Frequently Asked Questions (FAQ) :
Seaweed is used to produce a number of gums used in the paints and coatings, cosmetics, and adhesives industries.
Seaweed market is dominated by red seaweed, which is reputed to have beneficial properties in controlling the user’s blood pressure.
Key players in the seaweed market include P. L. Thomas and Co. Inc., Cargill Foods, and Snap Alginates, among others.
Asia Pacific holds the largest share in the global seaweed market.
Growing demand for natural food extracts is the major driver for the global seaweed market.
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