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DUBLIN, Nov. 17, 2022 /PRNewswire/ -- The 'commercial seaweed market size, market share, application analysis, regional outlook, growth trends, key players, competitive strategies and forecasts, 2022 to 2030' report has been added to
The global commercial seaweed market is expected to grow at a compound annual growth rate (CAGR) of 11% during the forecast period 2022-2030. The rising demand for seaweed is expected to be driven by technological advancements in cultivation, as well as investments in animal feed and agriculture. Seaweed is the main source of iodine which is rare in other food items and ingredients. The human body's estrogen and estradiol levels must be controlled. The use of seaweed or its isolates increases satiety. It also lowers postprandial absorption rates for glucose and other lipids. This aids in the creation of healthy, low-obesity foods. Due to their anti-microbial abilities, seaweeds are used both as food and as ingredients.
Focus on Healthy Options Boosting the Market Revenues
The supply of commercial seaweed is crucial to satisfy the consumer's nutritional needs and decrease the risk of certain diseases. Commercial seaweed provides better yield quality and quantity in agriculture and meets the increasing demand of hydrocolloids for food & beverages as well as cosmetics & personal health. Recent studies have shown that commercial seaweed can be used to fight the COVID-19 disease. It has a greater effect than the vaccine.
This is why commercial seaweed has become an important parameter. To meet the rising demand for seaweed products, many companies expand their manufacturing facilities. The continued investment by the major market players has greatly contributed to improved preservatives as well as thickeners and other gums. The potential uses of seaweed are growing and will likely boost market growth over the forecast period 2020-2028.
Red Seaweed Contributes to Over Half of the Market Revenues in 2021
Red seaweed was the dominant market segment contributing to about 54% of all the total revenues in 2021. Due to its high functional attributes, this segment is expected to grow rapidly over the next few years. They are useful as food crops and rich in vitamins. Red seaweeds are used extensively in food preparations.
Seaweed Application in Food Dominates with Over 82% of Revenue Contribution
Seaweed is an important food that can be eaten directly by humans. The highest revenue share, 82%, is in the Human Consumption segment. Rising population, rising disposable incomes, increased awareness regarding healthy eating habits, and increased global demand for processed food products are the key drivers impacting the market revenues in this segment. Due to its cultural features, the Asia Pacific region is home to a greater demand for seaweeds. Form
APAC Taking Over 75% of Market Revenues
Asia Pacific dominated and held the largest revenue share at 75%. China is the Asia Pacific's leading seaweed producer. South Korea, Japan, and China are also the most important seaweed consumers in this region. The traditional value of seaweed in traditional food and medical applications makes it a favorite marine plant food. Asia Pacific is likely to experience a higher level of product demand due to the growing regional food industry.
Immense Opportunities for New Entrants
Seaweed production is concentrated in the areas along the coasts from seaweed-producing countries such as Japan and Indonesia. The market offers great potential for new and emerging players who need broad support throughout the value chain. Key strategy of key players includes mergers &acquisitions and joint ventures to expand their market share. To provide the best product quality, most of the industry's key players also have their distribution networks.
This gives them a competitive advantage through cost savings and an increase in profit margin.
Key Topics Covered:
2. Executive Summary
3. Commercial Seaweed Market: Business Outlook & Market Dynamics
4. Commercial Seaweed Market: By Product, 2020-2030, USD (Million)
5. Commercial Seaweed Market: By Application, 2020-2030, USD (Million)
6. Commercial Seaweed Market: By Form, 2020-2030, USD (Million)
7. Commercial Seaweed Market: By Cultivation, 2020-2030, USD (Million)
8. North America Commercial Seaweed Market, 2020-2030, USD (Million)
9. UK and European Union Commercial Seaweed Market, 2020-2030, USD (Million)
10. Asia Commercial Seaweed Market, 2020-2030, USD (Million)
11. Latin America Commercial Seaweed Market, 2020-2030, USD (Million)
12. Middle East and Africa Commercial Seaweed Market, 2020-2030, USD (Million)
13. Company Profiles
Cargill Incorporated DuPont Marcel Carrageenan AtSeNova Beijing Leili Agricultural Co. Ltd Pacific Harvest Irish Seaweed Ocean Rainforest Indigrow Ltd Seaweed Solutions AS Maine Coast Sea Vegetables Kelp Industries Pty Ltd. Organic Irish Seaweed-Emerald Isle Green Ocean Farming UK Nantong Xinlang Seaweed & Foodscadia Seaweed KwangcheonKim
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Research and MarketsLaura Wood, Senior Manager[email protected]
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SOURCE Research and Markets