Commercial Seaweeds Market Insights:
The global Commercial Seaweeds Market size was valued at USD 16.9 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 10.10% from 2021 to 2028.
Commercial seaweeds market is profiting much from the impacts on the food industry. The market is gaining the most from its use in the processed food industry to develop commercialized food. Market Research Future published a report on global commercial seaweeds market and states that the market is expected to record stellar growth during the forecast period till 2028. Seaweeds are species of marine algae that are found in various types, sizes, and color.
Market Drivers Trends:
The in-depth analysis of the Commercial Seaweeds Market Insights includes factors such as increasing use of seaweeds extracts as Carrageenan, Alginate, and Agar in the processed food industry. The commercial seaweed market can also get further support from high demand for seaweed-based products during the assessment period.
The commercial seaweed market is gaining the maximum traction with the rise in seaweeds owing to the presence of antioxidants, fiber and polysaccharides in them, which makes them enriched with vitamins such as vitamin B12 and vitamin E.
Furthermore, the commercial seaweed market enlists more drivers such as increasing demand of Eucheuma Cottonii Or Gracilaria seaweeds in various convenience food and dairy frozen desserts such as noodles, cookies, crackers, sweets, and others due to their nutrient content which remarkably taking the growth rate towards positiveness.
In addition, there has also been a constant increase in the demand for commercial seaweeds to generate biomass for biofuel production, which is catapulting the global commercial seaweeds market in substantial ways. With a broader demand for organic and natural ingredients is also growing among consumers, which is a key focus for the market players to capitalize on the market during the approaching period. This factor could make seaweeds-based products more accessible and visible to the customers across the globe, which will trigger the market to excel exponentially in the years to come.
Market Segmentation:
The global commercial seaweeds market has been segmented by type, method of harvesting, form, application, and region.
In terms of type, the global commercial seaweeds market has been classified into red seaweeds, brown seaweeds, and green seaweeds.
In terms of the method of harvesting, the global commercial seaweeds market has been classified as aquaculture and wild harvesting.
In terms of form, the global commercial seaweeds market has been segmented into liquid, powder, flakes, and others.
In terms of application, the global commercial seaweeds market has been categorized into food beverages, animal feed, and agriculture. Wherein, goods beverages segment is further bifurcated into convenience food, dairy frozen desserts, meat, poultry, seafood, bakery confectioneries, and others.
Regional Outlook:
The geographical analysis of the global Commercial Seaweeds Market Outlook is done across North America, Europe, Asia-Pacific, and the rest of the world.
Among these, Asia Pacific is expected to lead the commercial seaweed market during the forecast period due to driving factors such as the presence of key market players, increasing awareness regarding health benefits of commercial seaweeds among consumers. The region has a vast availability of commercial seaweeds due to its several health benefits, which leads to its surge in preventing diseases of heart, diabetes and more, thus proving superior health benefits is encouraging market expansion.
In Europe, better opportunities such as usage of commercial seaweeds as vegetables, binding, and thickening agent in various bakery products are also gaining traction in this region in the coming years.
North America is leading the market by fetching factors such as the inclination of consumers towards trying commercial seaweeds and its usage as biostimulant extracts for crops is substantially backing up the growth of the global commercial seaweed market.
Key Players:
Prominent commercial seaweed vendors profiled in the report of global Commercial Seaweeds Market are Cargill, Incorporated (US), DowDuPont Inc. (US), Algaia SA (France), Compañía Española de Algas Marinas S.A. (Spain), Extractos Naturales Gelymar S.A.(Chile), Acadian Seaplants Limited (Canada), CP Kelco U.S., Inc. (US), Biostadt India Limited (India), COMPO EXPERT GmbH (Germany), Compagnie Financiere et de Participations Roullier S.A. (France)
Industry News:
08 Feb 2019: Cargill launched its “Red Seaweed Promise,” program that was designed to address key sustainability challenges for the harvesting and cultivation of red seaweed, while also enhancing producer livelihoods, supporting local communities and conserving marine environments. The program addressed the food industry and consumer needs for sustainable food ingredients, with a commitment to sourcing 60 percent sustainable red seaweed by 2025.
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