Seaweed is species of macroscopic, multicellular, marine algae, which are found in oceans and seas across the globe. The hydrocolloids such as alginate, agar, and carrageenan, gelatinous substances are extracted from seaweed. Seaweed is beneficial to health to fight against illness and diseases. Seaweed is used in food, medicines, cosmetics and organic fertilizers and feed additives. The red seaweed is a source for carrageenan hydrocolloid, which is highly used in food industry owing to its improved gelling and thickening property. The red seaweed segment is anticipated to dominate among the product type segment, due to the increasing demand for agar and carrageenan from the food industry. The brown seaweeds is expected to follow red seaweeds owing to the growing use of brown seaweed in animal feed additives and fertilizers. On the basis of form type, the liquid form seaweed is expected to account for larger market share in terms of value and volume, this is owing to rising demand from agriculture and pharmaceutical industries across the globe. On the other hand, the human food segment is expected to hold significant market share among the application segment, this is due to increase in seaweed consumption in human food coupled with increasing demand for seaweed derived snacks. The global seaweed market is anticipated to witness significant CAGR during the forecast period.
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Global Seaweed Market: Drivers, Restraints, and Trends
Increasing consumption of seaweed as a food extract, medical use, and for bio-refining is expected to drive the demand for seaweed. Furthermore, growing consumer awareness regarding nutritional benefits of seaweed, rising demand for alginate in food, pharmaceutical industries is expected to boost the growth of global seaweed market. In addition, increasing demand for seaweed derived snacks is anticipated to fuel the demand for seaweed.
However, lack of awareness of harvesting various species of seaweed among the manufactures is expected to hinder the growth of global seaweed market.
Key trends are observed in the production of seaweeds are, the manufacturers are implementing growth strategies such as merger and acquisition, partnership, and agreement.
Global Seaweed Market: Segmentation
The global seaweed market is segmented on the basis of product type, form type, and application.
On the basis of product type, the global seaweed market is segmented into:
- Red Seaweed
- Brown Seaweed
- Green Seaweed
On the basis of form type, the global seaweed market is segmented into:
- Liquid
- Powdered
- Flakes
On the basis of application, the global seaweed market is segmented into:
- Food and Beverages
- Agriculture
- Animal Feed Additives
- Pharmaceutical and Biotechnological
- Other (Aquaculture, Biomass for Fuel, and Wastewater Treatment)
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Global Seaweed Market: Key Players
Some of the major players identified in the global seaweed market include
- Cargill, Incorporated
- DuPon
- Acadian Seaplants Limited (ASL)
- Biostadt India Limited
- Brandt Consolidated, Inc.
- COMPO Expert GmbH
- Gelymar
- Lonza Group Ltd.
- Marinalg International
- Ocean Harvest Technology
- Ocean Rainforest Sp/F
- Qingdao Bright Moon Group Co., Ltd.
- Groupe Roullier
- Seasol
- TBK Manufacturing Corporation
- W Hydorcolloids Inc.
- CP Kelco
- High Hope Foods (Nanjing) Co., Ltd.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.