The seaweed market is segmented based on product, application, and region.

PORTLAND, OR, UNITED STATES, September 2, 2021 /EINPresswire.com/ -- Before the advent of large-scale seaweed farming, seaweed was foraged only by the coastal communities. With growing awareness towards health benefits of seaweed and its commercial use in various end-use industries, various countries across the globe have adopted commercial harvesting operations. Increase in demand for seaweeds as human food and in the manufacture of hydrocolloids, such as agar, alginate, and carrageenan, are anticipated to boost the demand for seaweeds during the forecast period. Seaweeds find their application in fertilizers, animal feed, biofuels, and wastewater treatment, which further supplement the seaweed industry growth.

The global seaweed market size was valued at $4,097.93 million in 2017, and is projected to reach $9,075.65 million by 2024, registering a CAGR of 12.0% from 2018 to 2024.

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Increase awareness towards health benefits of seaweeds and changes in lifestyle patterns and taste preferences among consumer have fueled the demand for seaweed products. Moreover, as inhabitants from Asia-Pacific countries have migrated to other parts of the world, the demand for seaweed as food has increased, thus driving the seaweed industry growth.

Seaweed, also called as macro-algae, belongs to several species of macroscopic, multicellular, marine algae. It is classified into three broad groups based on pigmentation, which include red, brown, and green seaweed. The major utilization of these seaweeds as food and food ingredients is in Asia-Pacific, particularly in China, Indonesia, Philippines, Korea, and Japan where seaweed cultivation has developed into a huge industry. Seaweed farming is becoming an increasingly competitive market for food and related products across the globe.

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Seaweeds are used in many maritime countries across the globe as a source of human food, hydrocolloids, fertilizers, animal feed additives, and others, which include aquaculture, biomass for fuel, and wastewater treatment. The human food application segment garnered the highest market share in 2017, as seaweeds are used in many maritime countries across the globe as a source of human food. In addition, the major utilization of these seaweeds as food and food ingredients is in Asia-Pacific, particularly in China, Indonesia, Philippines, Korea, and Japan where seaweed cultivation has developed into a huge industry. In most western countries, the usage of seaweed as human food and animal feed was restricted, and thus there was no major pressure to develop seaweed cultivation techniques. However, as citizens from Asia-Pacific countries migrated to other parts of the world, the demand for seaweed as food increased in different parts of the globe.

Some of the major players analyzed in the global seaweed market report are Cargill Inc., DuPont, Groupe Roullier, Irish Seaweeds, Qingdao Gather Great Ocean Algae Industry Group (GGOG), Annie Chun’s Inc., Chase Organics, GimMe Health Foods, Maine Coast Sea Vegetables, and Mara Seaweed.

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Key Benefits for Stakeholders

This report provides a quantitative analysis of the current trends, estimations, and dynamics of the global seaweed market for the period of 2017‐2024 to identify the prevailing market opportunities.
The key countries in all the majors regions have been mapped based on their market share.
Porter’s Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier‐buyer network.
In-depth seaweed market analysis along with segmentation assists to determine the prevailing market opportunities.
Major countries in each region have been mapped according to their revenue contribution to the global industry.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of market players.
The report includes the analysis of the regional as well as global market, key players, market segments, and application areas, and growth strategies.

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