The pharmaceutical industry in the U.S. is fueling the increased demand for seaweed algae market by expanding its utilization.

ROCKVILLE, MD, UNITED STATES, October 31, 2023 /EINPresswire.com/ -- Based on Fact.MR's analysis, the seaweed algae industry in the United States is projected to demonstrate a compound annual growth rate (CAGR) of 2.1% over the evaluation period. It is anticipated that the market size in the United States will reach $5,187.9 million by the year 2033.

Global sales of seaweed algae market size is projected to increase from $15,000.0 million in 2023 to $20,345.0 million by 2033. During the upcoming decade (from 2023 to 2033), the worldwide sales of seaweed algae are expected to experience a significant compound annual growth rate (CAGR) of 3.1%.

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Key Trends Highlighted by Fact.MR:

- Brown seaweed stands out in terms of commercialization compared to red and green varieties due to its abundant supply and availability.
- The domestic production of seaweed has seen a notable uptick in recent years, driven by its expanding use across various industries.
- The farming and harvesting of seaweed are on the rise, thanks to a growing awareness of its diverse applications and sustainable cultivation.
- Asian countries boast a higher availability of edible seaweed compared to other regions, enabling Asian manufacturers to extend their consumer base beyond local markets, given the sustained demand.
- In Asian countries, seaweeds are primarily consumed as sea vegetables, while in Western and other regions, they find use as gelling or thickening agents.
- Seaweed products are easily prepared and can be incorporated into soups, vegetables, salads, and various other dishes.
- In China, Japan, and South Korea, seaweed is typically purchased in its dried form for its extended shelf life.
- Seaweeds are recognized as organic alternatives to traditional additives and preservatives, making them valuable across diverse industries.
- Dried seaweed exhibits versatility as an ingredient in a wide range of dishes, including stews and stir-fried recipes.
- Seaweeds are finding increasing applications in cosmetics for the production of seaweed-based face masks, creams, and other skincare products.
- With their rich protein content, seaweeds are gaining popularity as alternative protein sources, particularly in the development of plant-based protein products.
- Emerging research suggests that the consumption of edible seaweeds may contribute to the prevention of specific diseases such as diabetes, hypertension, inflammation, arthritis, and cardiovascular ailments.

Seaweeds as a Sustainable Protein Source: A Centuries-Old Tradition Meets Global Demand

Since the 5th century, seaweeds have served as an alternative protein source, primarily in Asian regions like China, South Korea, and Japan. With the process of globalization, diverse consumer preferences have emerged, leading to a worldwide demand for seaweed algae.

The cultivation of edible seaweed for human consumption, biofuel production, and animal feed promises to usher in a transformative era for sustainability. A recent study by Fact.MR reveals an impressive growth rate of approximately 14% year-on-year in seaweed farming. This surge is attributed to the growing awareness of sustainability issues and the pursuit of economically viable solutions to contemporary challenges.

Seaweed Algae Market: Growing Demand in Asia and Global Trends

According to Fact.MR, the global sales of Seaweed Algae have witnessed a steady growth, with a Compound Annual Growth Rate (CAGR) of 1.2% from 2018 to 2022. Looking ahead, the worldwide Seaweed Algae market is projected to experience substantial progress, with a projected CAGR of 3.1% over the next decade, spanning from 2023 to 2033.

In Asia, the consumption of seaweed is deeply rooted in tradition, with a focus on its high protein content. It has been incorporated into various culinary applications, including soups, stews, and other dishes, where it enhances both the flavor and texture. In the Asian market, three specific seaweed species stand out for their ease of cultivation and wide-ranging applications in the food and beverage, pharmaceutical, and cosmetics industries. These species are Nori (Porphyra), Kombu (Saccharina and Laminaria), and Wakame (Undaria). Additionally, algae hydrocolloids, owing to their thickening and gelling properties, find extensive use in various food categories. They are commonly employed in the food and beverage sector, particularly in dairy products, confectionery, beverages, bakery items, processed meat products, jams, and sauces.

The increasing utilization of seaweed in the pharmaceutical industry is fueling the demand for seaweed algae in the United States.

According to an analysis conducted by Fact.MR, the seaweed algae industry in the United States is anticipated to demonstrate a Compound Annual Growth Rate (CAGR) of 2.1% throughout the evaluation period. It is projected that by the year 2033, the market size in the United States will reach approximately US$ 5,187.9 million.

Seaweed is a valuable source of bioactive compounds, including sulphated polysaccharides. The pharmaceutical industry has been researching the use of polysaccharides for several years, owing to their potential application in drug delivery systems. Seaweed algae, such as carrageenan, ulvan, and fucoidan, contain sulfated polysaccharides that have been employed in the formulation of numerous drugs, medicines, and functional foods. In the United States, the prevalence of diseases such as diabetes and cancer is notably high, leading to an increased demand for seaweed algae in the country.

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The Health Benefits and Growing Demand for Red Seaweeds

Red seaweeds, renowned for their numerous health benefits, are a rich source of algal proteins known as phycobiliproteins. These proteins possess potent antioxidant properties that play a pivotal role in safeguarding against neuro diseases triggered by oxidative stress. Additionally, they have demonstrated their efficacy in cancer treatment and the management of gastric ulcers. Red seaweeds are also packed with omega-6 and omega-3 fatty acids, offering protection against cardiovascular diseases and diabetes. The manifold applications of red algae in the medical and pharmaceutical sectors have led to a surging global demand for these remarkable organisms.

Furthermore, seaweeds serve as an abundant reservoir of essential vitamins, minerals, and nutrients. As consumer consciousness continues to grow regarding the adverse effects of environmental pollution stemming from increased carbon emissions and excessive fossil fuel usage, there is a notable shift towards organically and sustainably sourced products. Seaweed has emerged as a compelling alternative to traditional protein sources in the food and beverage industry, and this trend is anticipated to drive the seaweed market's growth in the forthcoming decade.

Competitive Landscape

The competitive environment for Seaweed Algae is in a constant state of flux, driven by the increasing demand for sustainable and affordable feed choices. Numerous factors play a pivotal role in determining the competitiveness of Seaweed Algae, encompassing factors such as accessibility, pricing, nutritional content, market reception, and regulatory aspects.

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