Commercial Seaweed Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 19.09 Billion |
| Market Size (2029) | USD 28.29 Billion |
| CAGR (2024 - 2029) | 8.18 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Commercial Seaweed Market Analysis
The Commercial Seaweed Market size is estimated at USD 19.09 billion in 2024, and is expected to reach USD 28.29 billion by 2029, growing at a CAGR of 8.18% during the forecast period (2024-2029).
- The functional and healthy properties of edible seaweed drive the commercial seaweed market. Most of the commercially produced seaweed is used in the food industry. Globally, seaweeds are gaining popularity as part of the staple diet, food flavor enhancers, and nutritious food items, as well as for their weight loss properties. Due to their anti-microbial qualities, which aid in food preservation, seaweeds are utilized as ingredients or eaten as foods.
- Also, Seaweed contains a good amount of Iodine which is rarely found in food ingredients. While controlling the amount of estrogen and estradiol in the human body is also essential. Making anti-obesity foods is made easier by using seaweed, and its isolates tend to promote satiety while reducing postprandial glucose and lipid absorption rates in humans.
- Being resource-neutral, seaweed farming can use something other than land, fresh water, fertilizers, or pesticides. It mitigates the negative consequences of climate change by sequestering CO2. It is a booming sector that serves the needs of food, feed, pharmaceutical, cosmetic, biofuel, biofertilizer, and other industries. The bio-stimulants in seaweed extracts protect against biotic stress and increase crop output. The underlying opportunity areas are for animal and human nutrition products to boost immunity and production.
- Further, many recognized organizations in the healthcare sector, such as the World Health Organization, have stated that seaweed has the potential to fight coronavirus. This factor has changed the consumers' perception of seaweed and increased its demand simultaneously.
Commercial Seaweed Market Trends
This section covers the major market trends shaping the Commercial Seaweed Market according to our research experts:
Increased Usage of Seaweed in Food Sector due to it Functional Properties and Nutritional Benefits
- Due to its effectiveness in enhancing the nutritional content of food products, seaweed is in greater demand from the global food sector. Macro algae, for instance, are utilized as a food ingredient or freshly added to foods in countries like the U.S., France, and Canada now that the Asian population has migrated to these nations. Previously, it was primarily consumed in Asia countries. Several hydrocolloids made from seaweed are also employed to boost the stability and thickness of food products.
- Additionally, it is used to create gels and films that are water-soluble. The most popular macroalgal extracts are alginate, agar, and carrageenan. They are employed in various food products, including ice cream, jam, fruit juice, bakery goods, and others, as gelling, stabilizing, emulsifying, and thickening agents.
- Beta-carotene, which has been demonstrated to be useful in preventing cancer, is abundant in green algae. The segment growth is anticipated to accelerate over the anticipated timeframe due to the rising demand for green algae in dietary supplements in the form of capsules and tablets. Due to their abundance of biochemicals such as amino acids, proteins, lipids, vitamins, polysaccharides, peptides, and minerals, seaweeds help make food products more functional. This is anticipated to fuel market expansion in the forecast period.
- Due to its widespread application in agriculture, animal feed, and food & beverage sectors, the brown seaweed segment is anticipated to expand quickly throughout the forecast period. Brown seaweeds are mostly consumed as food and raw material for the hydrocolloid alginate. The substance is also used as a filler in candy bars and salad dressings, as well as an emulsifier and thickening in syrups.
- The demand for brown seaweeds is anticipated to rise during the expected timeframe due to ongoing research into the usage of alginic acid in lithium-ion batteries. On the other hand, red seaweeds are mainly consumed as food and are a source of the hydrocolloids carrageenan and agar.
- Additionally, it is an excellent source of alternative proteins due to its high vitamin and protein content. The capacity of red seaweed to reduce bad cholesterol and regulate blood sugar levels is one of its primary health advantages. Additionally, it is thought to be a strong source of antioxidants and helps to strengthen immunity while nourishing the skin. These advantages are anticipated to fuel market expansion.
Asia-Pacific is the Largest Market
- Asia-Pacific has the largest market for commercial seaweed. The region captures a larger market share as it has the highest population in the world. Moreover, due to the rising consciousness of consumers, the demand for commercial seaweed is increasing significantly. China is the largest seaweed producer, followed by the Republic of Korea and Japan. However, seaweeds are now being produced on all continents. In China, seaweeds are used in various dishes as they provide a certain amount of nutrition. Seaweeds add different textures and flavors to the food and a natural aroma. Thereby, the demand for seaweeds is increasing in Asia-Pacific.
- Asia is the most productive continent overall, among which China is considered the most productive nation concerning Seaweed production. Many active substances in seaweeds are crucial, such as sulfated polysaccharides, which are valued for their anti-inflammatory and anti-tumor characteristics. Because they include essential amino acids in their proteins, seaweeds are typically healthy for your health.
- Omega-3 and omega-6 fatty acids are among the polyunsaturated fatty acids found in seaweed in significant quantities. Additionally, it has a healthy amount of polyphenols, sterols, and pigments, including fucoxanthin, which has beneficial antioxidant, fungal, microbial, and cholesterol-lowering properties. Due to the various health benefits of seaweed consumption, it is a significant driver, especially in Asia.
Commercial Seaweed Industry Overview
The commercial seaweed market is competitive due to the presence of several domestic and international players. The major players in the market are Cargill Inc., DuPont, Acadian Seaplants Limited, CP Kelco US Inc., and Brandt Consolidated Inc. The key strategies adopted by the top players in the industry are mergers and acquisitions to consolidate a leading position in the market by eliminating the local and small players. These strategies also help the players expand their business and create a better brand image.
Commercial Seaweed Market Leaders
Acadian Seaplants
E.I. du Pont de Nemours & Company
Cargill Incorporated
CP Kelco U.S. Inc.
Brandt Consolidated Inc.
*Disclaimer: Major Players sorted in no particular order
Commercial Seaweed Market News
- September 2022: CadalminTM LivCure extract, a patent-protected nutraceutical product developed by the ICAR-Central Marine Fisheries Research Institute (CMFRI) from seaweeds to combat non-alcoholic fatty liver disease, will be available in the market soon. The product contains 100% natural bioactive ingredients extracted from select seaweeds. The product is made using eco-friendly green technology to improve liver health and is the 9th nutraceutical developed by CMFRI
- March 2021: Australia experienced a proliferation of seaweed farming start-ups. The rising opportunity and government support through investments may boost the seaweed market during the forecast period.
- February 2021: WavePure® is a seaweed powder range based on native seaweed obtained without any chemical modification. Cargill's first series under this innovative range is WavePure® ADG which is recognized as a traditional food ingredient in the EU. It includes WavePure® ADG 8250, which is based on a blend of Gracilaria seaweeds, and which contributes to the mouthfeel and maintains stability in gelled dairy desserts, with limited impact on sensorial profile.
Commercial Seaweed Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Product Type
5.1.1 Brown Seaweed
5.1.2 Green Seaweed
5.1.3 Red Seaweed
5.2 Application
5.2.1 Food and Beverages
5.2.2 Dietary Supplements
5.2.3 Pharmaceuticals
5.2.4 Other Applications
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Spain
5.3.2.5 Russia
5.3.2.6 Italy
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 India
5.3.3.3 Japan
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 United Arab Emirates
5.3.5.2 South Africa
5.3.5.3 Rest Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Position Analysis
6.3 Company Profiles
6.3.1 Cargill Incorporated
6.3.2 E.I. du Pont de Nemours & Company
6.3.3 Acadian Seaplants
6.3.4 CP Kelco US Inc.
6.3.5 Brandt Consolidated Inc.
6.3.6 Seasol International
6.3.7 Gelymar
6.3.8 Rhodomaxx
6.3.9 Dycolor Seaweed Industries
6.3.10 Algaia SA
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Commercial Seaweed Industry Segmentation
Seaweeds are a group of photosynthetic, non-flowering, plant-like organisms (called microalgae) that live in the sea.
The market is segmented by product type, application, and geography. By product type, the market is segmented into Red, Brown, and Green Seaweed. Based on application, the market is segmented into food and beverage (hydrocolloids, thickeners, gelling agents, ice-cream stabilizers, and others), dietary supplements, pharmaceutical and medical, and other applications. Based on geography, the market includes major geographies across the region, North America, Europe, Asia-Pacific, South America, the Middle East, and Africa.
For each segment, the market sizing and forecast have been done based on the value (in USD million).
| Product Type | |
| Brown Seaweed | |
| Green Seaweed | |
| Red Seaweed |
| Application | |
| Food and Beverages | |
| Dietary Supplements | |
| Pharmaceuticals | |
| Other Applications |
| Geography | |||||||||
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Commercial Seaweed Market Research FAQs
How big is the Commercial Seaweed Market?
The Commercial Seaweed Market size is expected to reach USD 19.09 billion in 2024 and grow at a CAGR of 8.18% to reach USD 28.29 billion by 2029.
What is the current Commercial Seaweed Market size?
In 2024, the Commercial Seaweed Market size is expected to reach USD 19.09 billion.
Who are the key players in Commercial Seaweed Market?
Acadian Seaplants, E.I. du Pont de Nemours & Company, Cargill Incorporated, CP Kelco U.S. Inc. and Brandt Consolidated Inc. are the major companies operating in the Commercial Seaweed Market.
Which is the fastest growing region in Commercial Seaweed Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Commercial Seaweed Market?
In 2024, the Asia Pacific accounts for the largest market share in Commercial Seaweed Market.
What years does this Commercial Seaweed Market cover, and what was the market size in 2023?
In 2023, the Commercial Seaweed Market size was estimated at USD 17.65 billion. The report covers the Commercial Seaweed Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Commercial Seaweed Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Commercial Seaweeds Industry Report
Statistics for the 2024 Commercial Seaweeds market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Commercial Seaweeds analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
