The global commercial seaweed market was valued at USD 17.85 billion in 2021 and is expected to grow at a CAGR of 10.5% during the forecast period.
Prior to the development of industrial seaweed cultivation, coastal communities were the only ones who collected seaweed. Many nations throughout the world have embraced commercial harvesting operations due to rising awareness of the health advantages of seaweed and its commercial use in numerous end-use sectors. The demand for seaweeds is predicted to rise throughout the forecast period due to a growth in the demand for seaweeds as food and in the production of hydrocolloids including agar, alginate, and carrageenan. Fertilizers, animal feed, biofuels, and wastewater treatment all use seaweeds, which supports the expansion of the seaweed business.
In contrast to Asia-Pacific, where it is still in its infancy, some nations in North America and Europe have created seaweed farming industries. As a part of the European Union’s Blue Growth strategy, European policies have recently spurred the expansion of seaweed farming. European nations are funding research into the potential uses of seaweed in a variety of end-use sectors as part of this project. It is projected that increased red seaweed consumption in the food industry will propel the seaweed market’s expansion. Also, as seaweeds are used as a source of human food in many maritime nations throughout the world, the human food application category had the largest market share in 2021.
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Over the past 20 years, seaweed production methods have improved significantly, and the industry now plays a critical part in every nation’s fishing industry. The global output of seaweed from aquaculture and the wild increased by more than three times between 2000 and 2019 (FAO 2021), from 118,000 tonnes to 358,200 tonnes, according to data from the Food and Agriculture Organization (FAO).
The seaweed market is divided into product, application, and regional segments, per the market study. Red, Brown, and Green categories are separated based on the product. It is divided into human food, hydrocolloids, fertilisers, animal feed additives, and others based on application. It is examined regionally in North America (the United States, Canada, and Mexico), Europe (the United Kingdom, Germany, France, Italy, Asia-Pacific (China, Indonesia, Philippines, South Korea, Japan, and the rest of Asia-Pacific), LAMEA, and Spain, Denmark, and the rest of Europe (Saudi Arabia, UAE, South Africa, Tanzania, and Rest of LAMEA).
Global Seaweed Market: Major Players
SeasolInternational Pty. Ltd.
E.I. Du Pontde Nemours and Company
The Cornish Seaweed Company
West Coast Marine Bio-Processing Corp.
Chase Organics GB Limited
Compo GmbHand Co. KG
Global Seaweed Market: Types
Global Seaweed Market: Applications
Animal Feed Additives
Global Seaweed Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Seaweed market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
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