Global Commercial Seaweed Market Overview
The Commercial Seaweed Market estimated at USD 17.46 Billion in the year 2023, is projected to reach a revised size of USD 34.27 billion by 2032, growing at a CAGR of 7.78% over the analysis period 2024-2032.
Seaweed refers to the number of species of multicellular, marine algae and it is adaptable product widely used for food in direct human consumption, then animal feed, cosmetics, agriculture, and others. Basically, seaweed is collected from the wild, but now it is increased as commercial seaweed cultivation. Seaweed found in three forms such as brown, red and green seaweed. Furthermore, the seaweed cultivation has increased rapidly as demand has outstripped the supply available from natural resources which leads to growth of the market during forecast period.
In addition, commercial harvesting occurs in about 35 countries, spread among the Northern and Southern Hemispheres, in waters ranging from cold, through temperate, to tropical. According to FAO Fisheries Technical Paper, total annual value of production is estimated at approximately US$ 6 billion of which food products for human consumption represent US$ 5 billion and total annual use by the global seaweed industry is about 8 million tons of wet seaweed. Globally, approximately 1 million tons of wet seaweed are harvested and extracted to produce about 55,000 tons of hydrocolloids, valued at almost US$ 600 million.
Market Dynamics and Factors:
Drivers:
- Commercial seaweed is required to fulfil the consumer diet demand and suppress a certain disease's risk. In addition, commercial seaweed helps to provide adequate yield quality and quantity in the agriculture sector and fulfil the rising demand for hydrocolloids in food & beverages industry which leads to fueled market growth during forecast period.
- Rising the demand for plant-based product, awareness about animal welfare and veganism among the individuals are key factors driving the market growth. Plant based product gaining popularity across several sector such as food and cosmetic industry with resulting perception that plant-based food is safer and healthier as compared to animal-based products. For instance, In June 2020, Bio Marine Ingredient Company funded USD 2.4 million to create new product range of seaweed based with respect to produce plant-based substitutes. Growing the usage of commercial seaweed in pharmaceutical and cosmetic industry is anticipated to drive the growth of the commercial seaweed market.
Restraints:
- High-cost cultivation process for seaweed, in order to their water management, nutrients, chemicals, water pollution and harvesting process are factors responsible for hindering the market growth during forecast period. In addition, environmental risk related with seaweed cultivation are expected to restraint market growth.
Opportunities:
- Rising the health concern among the population about the seaweed and their product range with other opportunities will expected to growth in projected period. For instance, in January 2019, Algaia started a new variety of seaweed-based texturing solutions named VegAlg, developed to provide shape and structure, and add juiciness to plant-based burgers. This latest product launch would build up its market position in the food industry.
Market Segmentation
Regional Analysis:
- Geographically, commercial seaweed market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. In North America, have highest market share as an increasing cultivation of the seaweed in the country, growing in demand of the seaweed across the end users and plant-based products are stimulating the growth of the seaweed market.
- Asia-Pacific dominates commercial seaweed market, owing to the factors such as low labor cost, adequate availability of raw material of seaweed, and adoption of commercial types of algae in traditional way in countries such as China, Japan, Vietnam are key factors that fueled the market growth as well as hold the major market share.
- In Europe region anticipated to show steady growth as compare the other regions. The demand for high quality natural plant-based product will create an opportunity in upcoming years. Rising investment by manufacturers and R&D activities driving the commercial seaweed market growth.
- Latin America market witness steady growth of the market due to vast geographical are consisting various ocean domains. It is expected to growth in seaweed market in upcoming years. Middle East and Africa commercial seaweed market is still in emerging stage owing to only green algae as an important product, but it is expected to growth in other product segment in future.
Players Covered in Commercial Seaweed market are :
- DowDuPont Inc.
- Cargill Incorporated
- Beijing Leili Agricultural Co. Ltd.
- Organic Irish Seaweed Emerald Isle
- Seaweed Solutions AS
- Nantong Xinlang Seaweeds and Foods Co. Ltd.
- CP Kelco US Inc.
- Groupe Roullier
- J.M. Huber
- Kerry Group Plc.
- Ocean Harvest Technology Ltd.
- Gelymer S.A.
- Corbion N.V.
- Green Ocean Farming UK and other major players.
Key Industry Developments
- In March 2024, Sea6 Energy, a seaweed company launched the world's first large-scale mechanized tropical seaweed farm off the coast of Lombok, Indonesia
- In October 2023, Belize launched a pilot project to convert large amounts of hazardous sargassum seaweed that destroys its pristine beaches into biofuel.
Global Commercial Seaweed Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 17.46 Bn. |
Forecast Period 2024-32 CAGR: |
7.78% |
Market Size in 2032: |
USD 34.27 Bn. |
Segments Covered: |
By Type |
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By Form |
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By Application |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Chapter 1: Introduction
ā1.1 Research Objectives
ā1.2 Research Methodology
ā1.3 Research Process
ā1.4 Scope and Coverage
āā1.4.1 Market Definition
āā1.4.2 Key Questions Answered
ā1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
ā3.1 By Type
ā3.2 By Form
ā3.3 By Application
Chapter 4: Market Landscape
ā4.1 Porter's Five Forces Analysis
āā4.1.1 Bargaining Power of Supplier
āā4.1.2 Threat of New Entrants
āā4.1.3 Threat of Substitutes
āā4.1.4 Competitive Rivalry
āā4.1.5 Bargaining Power Among Buyers
ā4.2 Industry Value Chain Analysis
ā4.3 Market Dynamics
āā4.3.1 Drivers
āā4.3.2 Restraints
āā4.3.3 Opportunities
āā4.5.4 Challenges
ā4.4 Pestle Analysis
ā4.5 Technological Roadmap
ā4.6 Regulatory Landscape
ā4.7 SWOT Analysis
ā4.8 Price Trend Analysis
ā4.9 Patent Analysis
ā4.10 Analysis of the Impact of Covid-19
āā4.10.1 Impact on the Overall Market
āā4.10.2 Impact on the Supply Chain
āā4.10.3 Impact on the Key Manufacturers
āā4.10.4 Impact on the Pricing
Chapter 5: Commercial Seaweed Market by Type
ā5.1 Commercial Seaweed Market Overview Snapshot and Growth Engine
ā5.2 Commercial Seaweed Market Overview
ā5.3 Red
āā5.3.1 Introduction and Market Overview
āā5.3.2 Historic and Forecasted Market Size (2017-2032F)
āā5.3.3 Key Market Trends, Growth Factors and Opportunities
āā5.3.4 Red: Grographic Segmentation
ā5.4 Brown
āā5.4.1 Introduction and Market Overview
āā5.4.2 Historic and Forecasted Market Size (2017-2032F)
āā5.4.3 Key Market Trends, Growth Factors and Opportunities
āā5.4.4 Brown: Grographic Segmentation
ā5.5 Green
āā5.5.1 Introduction and Market Overview
āā5.5.2 Historic and Forecasted Market Size (2017-2032F)
āā5.5.3 Key Market Trends, Growth Factors and Opportunities
āā5.5.4 Green: Grographic Segmentation
Chapter 6: Commercial Seaweed Market by Form
ā6.1 Commercial Seaweed Market Overview Snapshot and Growth Engine
ā6.2 Commercial Seaweed Market Overview
ā6.3 Liquid
āā6.3.1 Introduction and Market Overview
āā6.3.2 Historic and Forecasted Market Size (2017-2032F)
āā6.3.3 Key Market Trends, Growth Factors and Opportunities
āā6.3.4 Liquid: Grographic Segmentation
ā6.4 Powdered
āā6.4.1 Introduction and Market Overview
āā6.4.2 Historic and Forecasted Market Size (2017-2032F)
āā6.4.3 Key Market Trends, Growth Factors and Opportunities
āā6.4.4 Powdered: Grographic Segmentation
ā6.5 Flakes
āā6.5.1 Introduction and Market Overview
āā6.5.2 Historic and Forecasted Market Size (2017-2032F)
āā6.5.3 Key Market Trends, Growth Factors and Opportunities
āā6.5.4 Flakes: Grographic Segmentation
Chapter 7: Commercial Seaweed Market by Application
ā7.1 Commercial Seaweed Market Overview Snapshot and Growth Engine
ā7.2 Commercial Seaweed Market Overview
ā7.3 Agriculture
āā7.3.1 Introduction and Market Overview
āā7.3.2 Historic and Forecasted Market Size (2017-2032F)
āā7.3.3 Key Market Trends, Growth Factors and Opportunities
āā7.3.4 Agriculture: Grographic Segmentation
ā7.4 Animal Feed
āā7.4.1 Introduction and Market Overview
āā7.4.2 Historic and Forecasted Market Size (2017-2032F)
āā7.4.3 Key Market Trends, Growth Factors and Opportunities
āā7.4.4 Animal Feed: Grographic Segmentation
ā7.5 Human Food
āā7.5.1 Introduction and Market Overview
āā7.5.2 Historic and Forecasted Market Size (2017-2032F)
āā7.5.3 Key Market Trends, Growth Factors and Opportunities
āā7.5.4 Human Food: Grographic Segmentation
ā7.6 Other Applications
āā7.6.1 Introduction and Market Overview
āā7.6.2 Historic and Forecasted Market Size (2017-2032F)
āā7.6.3 Key Market Trends, Growth Factors and Opportunities
āā7.6.4 Other Applications: Grographic Segmentation
Chapter 8: Company Profiles and Competitive Analysis
ā8.1 Competitive Landscape
āā8.1.1 Competitive Positioning
āā8.1.2 Commercial Seaweed Sales and Market Share By Players
āā8.1.3 Industry BCG Matrix
āā8.1.4 Ansoff Matrix
āā8.1.5 Commercial Seaweed Industry Concentration Ratio (CR5 and HHI)
āā8.1.6 Top 5 Commercial Seaweed Players Market Share
āā8.1.7 Mergers and Acquisitions
āā8.1.8 Business Strategies By Top Players
ā8.2 DOWDUPONT INC.
āā8.2.1 Company Overview
āā8.2.2 Key Executives
āā8.2.3 Company Snapshot
āā8.2.4 Operating Business Segments
āā8.2.5 Product Portfolio
āā8.2.6 Business Performance
āā8.2.7 Key Strategic Moves and Recent Developments
āā8.2.8 SWOT Analysis
ā8.3 CARGILL INCORPORATED
ā8.4 BEIJING LEILI AGRICULTURAL CO. LTD.
ā8.5 ORGANIC IRISH SEAWEED EMERALD ISLE
ā8.6 SEAWEED SOLUTIONS AS
ā8.7 NANTONG XINLANG SEAWEEDS AND FOODS CO. LTD.
ā8.8 CP KELCO US INC.
ā8.9 GROUPE ROULLIER
ā8.10 J.M. HUBER
ā8.11 KERRY GROUP PLC.
ā8.12 OCEAN HARVEST TECHNOLOGY LTD.
ā8.13 GELYMER S.A.
ā8.14 CORBION N.V.
ā8.15 GREEN OCEAN FARMING UK
ā8.16 OTHER MAJOR PLAYERS
Chapter 9: Global Commercial Seaweed Market Analysis, Insights and Forecast, 2017-2032
ā9.1 Market Overview
ā9.2 Historic and Forecasted Market Size By Type
āā9.2.1 Red
āā9.2.2 Brown
āā9.2.3 Green
ā9.3 Historic and Forecasted Market Size By Form
āā9.3.1 Liquid
āā9.3.2 Powdered
āā9.3.3 Flakes
ā9.4 Historic and Forecasted Market Size By Application
āā9.4.1 Agriculture
āā9.4.2 Animal Feed
āā9.4.3 Human Food
āā9.4.4 Other Applications
Chapter 10: North America Commercial Seaweed Market Analysis, Insights and Forecast, 2017-2032
ā10.1 Key Market Trends, Growth Factors and Opportunities
ā10.2 Impact of Covid-19
ā10.3 Key Players
ā10.4 Key Market Trends, Growth Factors and Opportunities
ā10.4 Historic and Forecasted Market Size By Type
āā10.4.1 Red
āā10.4.2 Brown
āā10.4.3 Green
ā10.5 Historic and Forecasted Market Size By Form
āā10.5.1 Liquid
āā10.5.2 Powdered
āā10.5.3 Flakes
ā10.6 Historic and Forecasted Market Size By Application
āā10.6.1 Agriculture
āā10.6.2 Animal Feed
āā10.6.3 Human Food
āā10.6.4 Other Applications
ā10.7 Historic and Forecast Market Size by Country
āā10.7.1 U.S.
āā10.7.2 Canada
āā10.7.3 Mexico
Chapter 11: Europe Commercial Seaweed Market Analysis, Insights and Forecast, 2017-2032
ā11.1 Key Market Trends, Growth Factors and Opportunities
ā11.2 Impact of Covid-19
ā11.3 Key Players
ā11.4 Key Market Trends, Growth Factors and Opportunities
ā11.4 Historic and Forecasted Market Size By Type
āā11.4.1 Red
āā11.4.2 Brown
āā11.4.3 Green
ā11.5 Historic and Forecasted Market Size By Form
āā11.5.1 Liquid
āā11.5.2 Powdered
āā11.5.3 Flakes
ā11.6 Historic and Forecasted Market Size By Application
āā11.6.1 Agriculture
āā11.6.2 Animal Feed
āā11.6.3 Human Food
āā11.6.4 Other Applications
ā11.7 Historic and Forecast Market Size by Country
āā11.7.1 Germany
āā11.7.2 U.K.
āā11.7.3 France
āā11.7.4 Italy
āā11.7.5 Russia
āā11.7.6 Spain
āā11.7.7 Rest of Europe
Chapter 12: Asia-Pacific Commercial Seaweed Market Analysis, Insights and Forecast, 2017-2032
ā12.1 Key Market Trends, Growth Factors and Opportunities
ā12.2 Impact of Covid-19
ā12.3 Key Players
ā12.4 Key Market Trends, Growth Factors and Opportunities
ā12.4 Historic and Forecasted Market Size By Type
āā12.4.1 Red
āā12.4.2 Brown
āā12.4.3 Green
ā12.5 Historic and Forecasted Market Size By Form
āā12.5.1 Liquid
āā12.5.2 Powdered
āā12.5.3 Flakes
ā12.6 Historic and Forecasted Market Size By Application
āā12.6.1 Agriculture
āā12.6.2 Animal Feed
āā12.6.3 Human Food
āā12.6.4 Other Applications
ā12.7 Historic and Forecast Market Size by Country
āā12.7.1 China
āā12.7.2 India
āā12.7.3 Japan
āā12.7.4 Singapore
āā12.7.5 Australia
āā12.7.6 New Zealand
āā12.7.7 Rest of APAC
Chapter 13: Middle East & Africa Commercial Seaweed Market Analysis, Insights and Forecast, 2017-2032
ā13.1 Key Market Trends, Growth Factors and Opportunities
ā13.2 Impact of Covid-19
ā13.3 Key Players
ā13.4 Key Market Trends, Growth Factors and Opportunities
ā13.4 Historic and Forecasted Market Size By Type
āā13.4.1 Red
āā13.4.2 Brown
āā13.4.3 Green
ā13.5 Historic and Forecasted Market Size By Form
āā13.5.1 Liquid
āā13.5.2 Powdered
āā13.5.3 Flakes
ā13.6 Historic and Forecasted Market Size By Application
āā13.6.1 Agriculture
āā13.6.2 Animal Feed
āā13.6.3 Human Food
āā13.6.4 Other Applications
ā13.7 Historic and Forecast Market Size by Country
āā13.7.1 Turkey
āā13.7.2 Saudi Arabia
āā13.7.3 Iran
āā13.7.4 UAE
āā13.7.5 Africa
āā13.7.6 Rest of MEA
Chapter 14: South America Commercial Seaweed Market Analysis, Insights and Forecast, 2017-2032
ā14.1 Key Market Trends, Growth Factors and Opportunities
ā14.2 Impact of Covid-19
ā14.3 Key Players
ā14.4 Key Market Trends, Growth Factors and Opportunities
ā14.4 Historic and Forecasted Market Size By Type
āā14.4.1 Red
āā14.4.2 Brown
āā14.4.3 Green
ā14.5 Historic and Forecasted Market Size By Form
āā14.5.1 Liquid
āā14.5.2 Powdered
āā14.5.3 Flakes
ā14.6 Historic and Forecasted Market Size By Application
āā14.6.1 Agriculture
āā14.6.2 Animal Feed
āā14.6.3 Human Food
āā14.6.4 Other Applications
ā14.7 Historic and Forecast Market Size by Country
āā14.7.1 Brazil
āā14.7.2 Argentina
āā14.7.3 Rest of SA
Chapter 15 Investment Analysis
Chapter 16 Analyst Viewpoint and Conclusion
Global Commercial Seaweed Market |
|||
Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 17.46 Bn. |
Forecast Period 2024-32 CAGR: |
7.78% |
Market Size in 2032: |
USD 34.27 Bn. |
Segments Covered: |
By Type |
|
|
By Form |
|
||
By Application |
|
||
By Region |
|
||
Key Market Drivers: |
|
||
Key Market Restraints: |
|
||
Key Opportunities: |
|
||
Companies Covered in the report: |
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Frequently Asked Questions :
The forecast period in the Commercial Seaweed Market research report is 2024-2032.
Acadian Seaplants Limited; Algaia; Biostadt India Limited; Brandt; Cargill, Inc.; Chase Organics (GB) Ltd.; Compo GmbH; CP Kelco; DowDuPont, Inc.; Gelymar; Indigrow Ltd.; Leili Agrochemistry Co., Ltd.; Qingdao Seawin Biotech Group Co., Ltd.; Roullier Group; Seasol International Pty. Ltd.; The Cornish Seaweed Company Ltd; West Coast Marine Bio-Processing, Corp. and other major players.
The Commercial Seaweed Market is segmented into Type, Form, Application, and region. By Type, the market is categorized into Red, Brown, Green. By Form the market is categorized into Liquid, Powdered, Flakes. By Application the market is categorized into Agriculture, Animal Feed, Human Food, Other Applications. By region, it is analyzed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
Seaweed refers to the number of species of multicellular, marine algae and it is adaptable product widely used for food in direct human consumption, then animal feed, cosmetics, agriculture, and others. Basically, seaweed is collected from the wild, but now it is increased as commercial seaweed cultivation. Seaweed found in three forms such as brown, red and green seaweed.
The Commercial Seaweed Market estimated at USD 17.46 Billion in the year 2023, is projected to reach a revised size of USD 34.27 billion by 2032, growing at a CAGR of 7.78% over the analysis period 2024-2032.