Commercial Seaweed Market Size - By Product (Brown, Red, Green), By Form (Dry, Wet), By End User (Animal Feed, Food, Biofuels, Pharma & Personal Care) & Forecast, 2024-2032

Commercial Seaweed Market Size - By Product (Brown, Red, Green), By Form (Dry, Wet), By End User (Animal Feed, Food, Biofuels, Pharma & Personal Care) & Forecast, 2024-2032

Commercial Seaweed Market size will record 7.8% CAGR from 2024-2032, due to growing innovations focused on increasing yields and reducing production costs. For instance, in February 2023, Amazon financed the first-ever commercial-scale seaweed farm situated between offshore wind turbines.

Advances in seaweed farming, such as offshore cultivation and integrated multi-trophic aquaculture (IMTA) are improving efficiency and sustainability. The influx of new processing technologies is also enhancing the quality and functionality of seaweed products. The rising adoption of several techniques for drying, extraction, and fermentation for enabling the development of high-value seaweed derivatives will contribute to the market growth.

The overall industry is segmented into product, form, end-user and region.

In terms of form, the wet commercial seaweed market size may record a robust CAGR from 2024 to 2032. Wet seaweed is widely used as a natural biofertilizer due to its high nutrient content which helps to improve soil health and plant growth as well as increase crop yields. It is also utilized as a feed additive in aquaculture and livestock farming for providing essential nutrients that enhance the health and growth rates of animals. Growing usage in the cosmetic industry to offer moisturizing, anti-aging, and antioxidant properties in creams, lotions, and masks for catering to the demand for natural and organic skincare solutions will favor the product demand.

By end-user, the commercial seaweed industry value from the biofuels segment will expand through 2032. The growth can be attributed to the strong need for promising and sustainable feedstocks in biofuel production for the development of renewable energy sources whilst reducing dependence on fossil fuels. The ongoing research and technological advancements for improving the efficiency and cost-effectiveness of converting seaweed biomass into biofuels will boost the segment growth.

Regionally, the Europe commercial seaweed market size may witness significant CAGR through 2032, propelled by the emerging trend of vegetarian, vegan, and flexitarian diets. European governments are developing supportive regulatory frameworks through R&D as well as incentives for sustainable practices to promote seaweed farming and processing. The growing health consciousness among the regional consumers is also driving the demand for seaweed-based food products in the region.