Seaweed Market By Product (Red, Brown, Green), By Application (Human Food, Hydrocolloids, Fertilizers, Animal Feed Additives, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The seaweed market size was valued at $6,471.9 million in 2021 and is estimated to reach $14,613.1 million by 2031, registering a CAGR of 8.7% from 2022 to 2031.
Seaweed is a plant-like organism, which is adhered to rock or other hard substrata in coastal areas. Based on the pigmentation, seaweeds are categorized into three broad groups, red, brown, and green. Botanists refer to these broad groups as phaeophyceae, rhodophyceae, and chlorophyceae, respectively. Seaweeds are macroalgae that differentiate them from microalgae, which are microscopic in size, and are often unicellular. Red and brown seaweeds are mostly found in marine water, whereas green seaweeds grow in freshwater. Seaweeds are used in many maritime countries across the globe as a source of human food, hydrocolloids, fertilizers, animal feed additives, and others, including aquaculture, biomass for fuel, and wastewater treatment. The major utilization of these seaweeds as food and food ingredients is in the Asia-Pacific region, particularly in China, Indonesia, the Philippines, Korea, and Japan where seaweed cultivation has developed into a huge industry.
Hydrocolloid polysaccharides have significant importance, both technologically and economically, since they are used in the food, pharmaceutical, medicinal, and biotechnological industries, due to their distinct physicochemical properties. An increase in demand for seaweeds in the manufacture of hydrocolloids, such as agar, alginate, and carrageenan, is anticipated to boost the adoption of seaweeds during the forecast period. Moreover, they are applicable in human food, hydrocolloids, fertilizers, animal feed additives, aquaculture, biofuel, and wastewater treatment, which increases their consumption. Untapped markets in North American and European countries are anticipated to open new opportunities for seaweed manufacturers, thereby driving market growth. However, volatility in the prices of seaweed due to unstable supply and constant changes in weather patterns hamper the market growth.
For the purpose of analysis, the seaweed market scope covers segmentation based on product, application, and region. The report provides information on various products including red, brown, and green. Furthermore, the major applications covered in the study include human food, hydrocolloids, fertilizers, animal feed additives, and others. In addition, it analyzes the current market trends across different regions such as North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Denmark, and the Rest of Europe), Asia-Pacific (China, Indonesia, Philippines, South Korea, Japan, and Rest of Asia-Pacific), and LAMEA (Saudi Arabia, UAE, South Africa, Tanzania, and Rest of LAMEA).
Seaweeds have long been used as animal feed. Seaweed's chemical make-up varies greatly. Compared to brown seaweeds, green and red seaweeds have higher protein content but lower mineral content. Seaweeds can help animals meet their needs for protein and energy.
The major players operating in the seaweed industry are Cargill, Incorporated, Chase Organics, CJ CheilJedang Corp. , DowDupont Inc., GimMe Health Foods LLC, Groupe Roullier, Irish Seaweeds, Maine Coast Sea Vegetables, Inc., Mara Seaweed, and Qingdao Gather Great Ocean Algae Industry Group Co. Ltd.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the seaweed market analysis from 2021 to 2031 to identify the prevailing seaweed market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the seaweed market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global seaweed market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy ProductRed
Brown
Green
By ApplicationFertilizers
Animal Feed Additives
Others
Human Food
Hydrocolloids
By RegionNorth America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Spain
Denmark
Rest of Europe
Asia-Pacific
China
Indonesia
Philippines
South Korea
Japan
Rest of Asia-Pacific
LAMEA
Saudi Arabia
UAE
Africa
Tanzania
Rest of LAMEA
Key Market Players
Cargill, Incorporated
Annie Chun's, Inc.
Qingdao Gather Great Ocean Algae Industry Group Co., Ltd.
GimMe Health Foods LLC
Groupe Roullier
Mara Seaweed Ltd.
Irish Seaweeds
COMPO EXPERT GmbH
Maine Coast Sea Vegetables, Inc.
Brandt, Inc.
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