Seaweed Snacks Market by Type (Flakes, Nori Sheets, Chips, Bars, Others), Source (Red, Green, Brown), Distribution Channel (Specialty Stores, Hypermarkets & Supermarkets, Online, Convenience Stores), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2021 to 2028

Newark, NJ, Feb. 04, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global seaweed snacks market is expected to grow from USD 1.43 billion in 2020 to USD 2.80 billion by 2028, at a CAGR of 8.7% during the forecast period 2021-2028.

Some of the various significant factors that are driving the growth of the global seaweed snacks market are the healthy nutritional profile of seaweed snacks, the rise of health-consciousness in consumers, a rising vegan population, and increasing environmental concerns since seaweed is a carbon-negative food source. Moreover, seaweed snacks are naturally allergen-free, GMO- free, and gluten-free, which is boosting the market.

Seaweeds are a rich source of minerals, fiber, iodine, folic acid, potassium, vitamins, antioxidants, protein, amino acid, calcium, and omega-3 fatty acid. Seaweed is a staple food in Asian nations such as Japan, South Korea, and China. An example of a seaweed snack is a Nori sheet. Nori sheets are highly nutritious and low-calorie strips that have become an attractive alternative to other snacks like potato chips, which are generally quite unhealthy. Moreover, the introduction of many new flavors like wasabi, teriyaki, Korean BBQ, chili lime, and sweet onion are anticipated to increase the client base of the market in the next few years. 

With the outbreak of a global pandemic, many have faced salary cuts and job losses. Covid-19 has become a threat to the entire world's economy and has negatively impacted all kinds of markets, including the seaweed snacks market. With less disposable income and broken supply chains, the market's growth is expected to slow down.

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Key players operating in the global seaweed snacks market include Oceans Halo, SeaSnax, Roland's foods, Eden foods, Taokaenoi Food & Marketing, Annie Chun's, and Singha Corporation, among others. To gain a significant market share in the global seaweed snacks market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. SeaSnax and Taokaenoi Food & Marketing are some of the biggest producers and suppliers of seaweed snacks in the global market.

Nori sheets dominated the market and held the largest market share of 32.4% in the year 2020

The type segment consists of flakes, nori sheets, chips, bars, and others. Nori sheets dominated the market and held the largest market share of 32.4% in the year 2020. Nori sheets, also known as nori strips, are dried & roasted seaweed strips. They are one of the most prevalent seaweed products found in stores. 

Red segment dominated the market and was valued at USD 0.58 billion in the year 2020

Based on source, the global market has been divided into red, green, and brown. The red segment dominated the market and was valued at USD 0.58 billion in the year 2020. The large share of this segment can be attributed to factors like its high usage in nori sheets, which is one the most popular seaweed snacks, its usage in sushi, which is one of the most famous Japanese food, and rising awareness among consumers regarding the health benefits of red seaweeds.

Specialty stores dominated the market and held the largest market share of 29.6% in the year 2020

On the basis of distribution channel, the seaweed snacks market has been segmented into specialty stores, hypermarkets & supermarkets, online, and convenience stores. Specialty stores dominated the market and held the largest market share of 29.6% in the year 2020. These stores are able to guide new customers accurately by providing detailed information about seaweed snacks, high-quality service, and they also have various local as well as international brands available with them.

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Regional Segment Analysis of the Seaweed Snacks Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and Rest of South America) 
• Middle East and Africa (UAE, South Africa, Rest of MEA)

On the basis of geography, the global seaweed snacks market has been classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. The North American region accounted for the major market share of 35.8% in the year 2020 and is anticipated to grow throughout the projected period. The large share of this segment is attributed to key factors such as growing health concerns and rising awareness about healthy snack alternatives in the region. On the other hand, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period 2021-2028. This growth is owing to factors like rapid urbanization and improving economic conditions. South-East Asian countries like Japan and Thailand consume large amounts of seafood, including seaweed-derived products.

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About the report: 

The global seaweed snacks market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.

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