The global commercial seaweed market size is likely to reach USD 21.75 billion by 2025. The market was valued at USD 11.48 billion in 2017 and is expected to grow at a CAGR of 8.42% within the forecast period of 2018 to 2025. Fortune Business Insights™ in their report titled, “Commercial Seaweed Market Size, Share and Industry Analysis By Product Type (Red Seaweed, Brown Seaweed, Green Seaweed), By Form (Flakes, Powder, Liquid), By End User (Food and Beverage, Agricultural Fertilizer, Animal Feed Additives, Pharmaceuticals, Cosmetics and Personal Care), and Regional Forecast 2018-2025,” studies the market qualitatively and quantitatively.
Functional Properties of Edible Seaweed to Increase Demand from Food and Beverage Sectors
Commonly known as marine algae, commercial seaweed has been used for centuries in the food and beverage sector, around the world. This is on account of the functional properties of edible seaweed that increases its demand from the food and beverage industry. Besides this, commercial seaweed comes in a variety of colors, namely green, brown, and red. In a few coastal communities, it is considered as a food source. The hydrocolloid properties of commercial seaweed increase its demand in various other industries such as animal feed additives, cosmetics and personal care, pharmaceutical, and agricultural products.
Additionally, commercial seaweed has nutritional properties such as antioxidants, minerals, vitamins and can also help in various health issues such as reducing the risk of cardiac diseases, diabetes, and weight loss. This factor is also expected to help promote the commercial seaweed market growth in the coming years. Besides this, lettuce, a part of commercial seaweed aquaculture family, is also used as a smooth laxative and is used for producing stable fibers used in wound dressings in the healthcare industry. The rise in demand from the healthcare industry is also anticipated to help accelerate the commercial seaweed market share in the forecast duration.
List of the key players covered in commercial seaweed market includes:
- Acadian Seaplants Limited
- Hydrocolloids, Inc.
- Kerry Group PLC
- Ocean Harvest Technology Limited
- CP Kelco
- DowDuPont Inc. (Danisco)
- Roullier Group
- Gelymar S.A.
- Bunge Limited
- FMC Corporation
- Cargill, Inc.
However, the lack of financial support from the government may cause hindrance to the overall commercial seaweed market revenue in the forecast period. This, coupled with the improper marine spatial plans, may restrict commercial seaweed harvesting and thus hamper the overall commercial seaweed market growth. Furthermore, natural calamities may result in a decline in the production of seaweed and thus also may cause the market to face rough waters in the future.
Nevertheless, the ongoing research and development on the use of the seaweed as snacks may bring forth lucrative commercial seaweed market growth opportunities in the future.
Browse Summary of This Research Report: https://www.fortunebusinessinsights.com/industry-reports/commercial-seaweed-market-100077
The report contains the following information:
- 360-degree overview of the commercial seaweed market including growth drivers, restraints, opportunities and challenges
- In-depth segmentation of the market based on seaweed type, form, end users, and regions.
- List of market players and key strategies adopted by them such as product launches, company collaborations, mergers and acquisitions, investments in research and development.
- Other commercial seaweed market trends and interesting insights
Higher Contribution from China to Drive the Market in Asia Pacific
Geographically, the global commercial seaweed market is dominated by Asia Pacific on account of the rise in aquacultural activities in nations such as India, South Korea, Japan, China, and the rest of South-east Asian nations. China is leading the market with 50% of the world’s seaweed production. The surge in production in countries such as Indonesia, India, and the Philippines, the market in Asia Pacific is expected to witness continuous growth in the coming years.
On the other hand, Europe market is likely to witness significant growth on account of the rising demand for seaweed-flavored food and beverage products. Additionally, the increasing prevalence of organic protein sources is anticipated to help North America market witness considerable growth in the forecast period.
CP Kelco and Cargill, Inc. Collectively Lead the Market
Fortune Business Insights™ foresees two major commercial seaweed market manufacturers to emerge as leading players as per 2017. These include CP Kelco and Cargill, Inc. Both the companies are investing huge amounts into research and development of new products such as commercial seaweed fertilizers, bio stimulants, and others using seaweed.
Some of the key industry developments recorded in the commercial seaweed market analysis report include:
May 2017 – A novel type of carrageenan extract called Satiagel Seabird was launched by Cargill Inc. This product is made out of 100% cultivated seaweed and is formulated especially for helping dairy manufacturers to achieve desired creamy texture used in various dairy desserts.
June 2018 – A leading animal feed ingredients producer Ocean Harvest Technology Limited launched a seaweed-based animal feed ingredient that is all-natural called OceanFeed Swine. This product claims to help improve the health and productivity of animals.
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