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The global commercial seaweed market was valued at USD 10 billion in 2023 and grew at a CAGR of 5% from 2024 to 2033. The market is expected to reach USD 16.28 billion by 2033. The increasing awareness about the health benefits of seaweed will drive the growth of the global commercial seaweed market.
Seaweed is microalga which is found in salt water and fresh water. They are present in diverse types and can be differentiated based on colour. The dominant three colours are red, green and brown. Some of them are of very large size while others are small sized and they also come in different shapes. seaweeds serve various industries such as agriculture, food and beverages, cosmetic products, pharmaceuticals, among others. They consist of vitamins and minerals. They are valuable in the modern health and wellness trends. Seaweed in different forms is available for easier handling and use. it is found in the form of powder, liquid or leaves. They also have properties like anti-inflammatory and are packed with antioxidants making them valuable in pharma and healthcare industries. they also prove to be valuable in skin and hair care products in the personal care and cosmetics industry. They are also being utilized more often in environmental application whereby they are used in waste water treatment or in water purification because they are able to absorb excess nutrients, heavy metals, and carbon dioxide from water. They are also used in the making of bio-fuels, bio-plastics which are very popular or demanded products in the current environment friendly world.
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The increasing awareness about the benefits of seaweed – the ever-rising population has led to an increasing demand for food. However, this increasing demand exhibit a pattern which prefers convenient, nutrition packed yet easy to make and ready to eat food products given the rapid urbanization accompanied by busy lifestyles of the consumers. the growth of internet has also contributed to the growing consumer awareness and them making more informed purchasing decisions. This has led to an increasing demand for seaweed infused/based food products. seaweeds are known to offer therapeutic benefits, and exhibit other health-promoting effects such as anti-inflammatory, antimicrobial, and antioxidant properties. Therefore, as the awareness about seaweed and its multiple health benefits increases, it will lead to the increasing demand for commercial seaweed and drive the market’s growth.
Infrastructural and cost challenges – Infrastructure for commercial seaweed cultivation require seaweed faming, processing, packaging and distribution networks. The coastal sites with access to water and sunlight for the growth of abundant seaweed yield throughout the year demand significant capital investments. The processing units and transportations costs also contribute significantly to increasing costs. the rising climate consciousness has increased regulatory hurdles for necessary approvals to extract seaweeds. The costs incurred for acquiring processing equipment, devices and other necessary components also adds to costs. therefore, the infrastructural and costs challenges hamper the market’s growth.
The expanding applications of seaweeds – the increasing research and development, innovation and growing experimentation exploring the potential benefits of seaweed beyond its traditional applications has led to expansion of seaweed applications across multiple varied industries. they are increasing being used in several medications in the pharmaceuticals industries give their biocompatible and health benefitting properties. The hydrating, soothing, and anti-aging properties of seaweed extracts are facilitating the production of seaweed-based skin care and hair care products driving their demand in the personal care and cosmetics industry. They are also being used in waste water treatments, environmental remediation, animal feed and agriculture as well as industrial applications. therefore, the expanding applications of seaweeds will contribute to the market’s growth and development during the forecast period.
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific emerged as the most significant global commercial seaweed market, with a 40% market revenue share in 2023.
Seaweed has been a part of traditional cuisines of many cultures in the region, thereby establishing it as a staple ingredient in the food industry. The coastlines and freshwater reserves ensure steady supply of seaweed for the large consumer market. the increasing research and development have also led to the introduction of enhanced and sustainable farming practices, processing technologies and packaging solutions to improve yield and facilitate demand for seaweed products.
Asia Pacific Region Commercial Seaweed Market Share in 2023 - 40%
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The product type segment is divided into red seaweed, green seaweed, brown seaweed, and others. The red seaweed segment dominated the market, with a market share of around 42% in 2023. Red seaweed is scientifically categorized under the subclass known as Rhodophyta. It is a kind of red or the purplish color Seaweed. it is derived from Seaweeds such as Gelidium and Gracilaria. it finds applications in different industries such as food, medicines, and cosmetics. This species is reported to be versatile and thus has the flexibility of surviving in numerous fluctuating and demanding environments. This ensures that they provide consistent yield. they have low rates of maintenance and year around availability. They are extensively used as thickeners and stabilizers which increases their value over other types. red seaweeds stand offer economic value, and adaptability, making them the predominant type in commercial seaweed production.
The form segment is divided into leaf, powdered, flakes, liquid, and others. The powdered segment dominated the market, with a market share of around 38% in 2023. Powdered form of Seaweed is easier to integrate and more flexible in use compared to its other forms. It can be added to a wide variety of products including food products, beverages, dietary supplements, cosmetics and drugs. these ingredients are better absorbed adding to their value in the market as this ensures that consumers can derive maximum nutritional benefits from seaweed-based products. Moreover, it offers extended shelf life. Powdered form leads to consistency in particle size, moisture content, and nutrient composition, which means it offers standard quality over time.
The application segment is divided into agriculture fertilizer, animal feed additives, food and beverages, pharmaceuticals, cosmetics and personal care, biofuels, textiles, and others. The food and beverages segment dominated the market, with a market share of around 37% in 2023. Seaweed has a variety of vitamins, minerals, antioxidants and essential fatty acids. all of which makes it a very attractive ingredient for food and beverage manufacturers who are seeking to develop products that are healthier and more functional. Besides, it has versatility in culinary uses to make it highly sought after in the industry. Moreover, seaweed addresses the increasing trend of people seeking vegetarian and vegan products by providing food additives from plant origin that provide protein as well as other nutrients instead of animal-based products.
Report Description:
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Billion) |
| Market size value in 2023 | USD 10 Billion |
| Market size value in 2033 | USD 16.28 Billion |
| CAGR (2024 to 2033) | 5% |
| Historical data | 2020-2022 |
| Base Year | 2023 |
| Forecast | 2024-2033 |
| Region | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East and Africa. Furthermore, the regions are further analyzed at the country level. |
| Segments | Product Type, Form and Application |
As per The Brainy Insights, the size of the global commercial seaweed market was valued at USD 10 billion in 2023 to USD 16.28 billion by 2033.
Global commercial seaweed market is growing at a CAGR of 5% during the forecast period 2024-2033.
The market's growth will be influenced by the increasing awareness about the benefits of seaweed.
Infrastructural and cost challenges could hamper the market growth.
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global commercial seaweed market based on below mentioned segments:
Global Commercial Seaweed Market by Product Type:
Global Commercial Seaweed Market by Form:
Global Commercial Seaweed Market by Application:
Global Commercial Seaweed Market by Region:
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