Global Commercial Seaweed Market
As stated in our extensive report; the Global Commercial Seaweed Market accounted for USD 9.6 Billion in the year 2021.
The rise in the use of seaweed supplements, which are rich in vitamins and minerals, is one of the main factors boosting the global market for Commercial Seaweeds. The market for Commercial Seaweeds is also growing as consumers become more aware of the health advantages of seaweed, including its anti-microbial, anti-inflammatory, and anti-cancer properties. Additionally, the expanding use of seaweed in the agricultural, pharmaceutical, cosmetic, and food & beverage industries is fueling the expansion of the Commercial Seaweed market due to the product’s nutritional value.
Key factors influencing Commercial Seaweed Market Growth
The growth of the global Commercial Seaweed market can be attributable to the following:
- High nutritional value and health advantages, greater usage of seaweed for hydrocolloids, and expanding demand for seaweed in end-use industries like personal care, medicines, agriculture, food and beverage, and animal feed are all factors have contributed to the expansion.
- The COVID-19 outbreak significantly impacted the Commercial Seaweed market. Following the shutdown of the majority of the industry’s manufacturing plants, production fell.
- The COVID-19 epidemic has directly impacted seaweed growers, according to the United Nations Industrial Development Organization (UNIDO), because there is less demand for raw materials and lower pricing.
- However, the recent increase in studies suggesting that some macroalgae components may be helpful in cancer treatment and immune boosting has increased interest in seaweed worldwide.
- In addition, it is anticipated that in the upcoming years, there will be a growing need for healthy foods in order to preserve overall wellness and health.
- Farmers use seaweed extract because it makes a great fertilizer for growing crops. It has been demonstrated that leaf seaweed extract has new methods for increasing agricultural productivity.
- As farmers’ awareness of the use of seaweeds in crop production has grown, they have noticed other benefits, like enhanced plant root structures. Additionally, seaweeds enhance soil structure, water retention, and soil microbiology. During the projection period, these elements are anticipated to fuel product demand.
- Iodine, which is infrequent in other foods or substances, is a good supply in seaweed. 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. Due to their anti-microbial qualities, which aid in food preservation, seaweeds are utilized as ingredients or eaten as foods.
- Consumer preferences have significantly changed as a result of growing environmental awareness, fueling the need for sustainable goods.
- Since macroalgae grow quickly and are nutrient-rich, they are thought to be sustainable since they release oxygen and absorb carbon dioxide. The rise of veganism and plant-based foods is also fueling the rising demand for seaweed production.
- Sales of plant-based meat increased by over 50% between 2019 and 2021, according to the Good Food Institute’s State of the Industry Report 2021. As a result, increasing consumer demand for plant-based goods is anticipated to fuel market expansion.
- The biomass from seaweed can be used to create energy. The procedure involves crushing the seaweed, and the resulting slurry is made by adding water.
- Methane is created during fermentation with the aid of microbes. Gas engines run on the resulting methane gas to produce energy. The Commercial Seaweed co-extrusion technique also provides various calibers.
- Market leaders’ ongoing R&D spending has greatly aided in developing better gums, preservatives, and thickeners. Over the forecast period, the market is anticipated to rise as uses for seaweed continue to advance.
Asia Pacific Region to Lead the Market
Asia Pacific Commercial Seaweed market is getting more significant with maximum market share during the forecast period. The main three consumers of seaweed in the region are Japan, China, and South Korea. China is the greatest producer in the area, followed by Indonesia. In all these nations, Commercial Seaweed is one of the most common marine plant foods, with historical applications in both food and medicinal. The Asia Pacific market is anticipated to grow due to rising product demand in the regional food industry.
The rise in the use of seaweed supplements, which are rich in vitamins and minerals, among other things, is positively influencing the overall Commercial Seaweed market.
Some of the key players in the Global Commercial Seaweed Market include- Cargill Inc. (US), E.I. Du Pont de Nemo US and Company (US), Roullier Group (France), Biostadt India Limited (India), Compo GmbH & Co. KG (Germany), Acadian Seaplants Limited (Germany), Gelymar SA (Chile), BrandT Consolidated Inc. (US), Seasol International Pty. Ltd (Australia), CP Kelco (India) and others.