Commercial Seaweed Market Size, Share, Growth, Forecast 2030

Commercial Seaweed Industry Prospective:

The global commercial seaweed market size was worth around USD 8.5 billion in 2022 and is predicted to grow to around USD 10.3 billion by 2030 with a compound annual growth rate (CAGR) of roughly 2.5% between 2023 and 2030.   

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Commercial Seaweed Market: Overview

The enormous and complex marine algae known as commercial seaweeds, or macroalgae, are widely used for their nutritional, industrial, and agricultural advantages. They provide many foods with an added nutritious boost because of their vitamin, protein, and mineral content. They are great components for cosmetic products and dietary supplements because of their anti-inflammatory, anti-microbial, and antioxidant capabilities. Soups, salads, and sushi rolls are all made using them. In the food business, hydrocolloids like agar, alginate, and carrageenan are frequently used as stabilizers and thickeners. They are also used in the extraction of these hydrocolloids.

Key Insights

• As per the analysis shared by our research analyst, the global Commercial Seaweed market is estimated to grow annually at a CAGR of around 2.5% over the forecast period (2023-2030).
• In terms of revenue, the global Commercial Seaweed market size was valued at around USD 8.5 billion in 2022 and is projected to reach USD 10.3 billion, by 2030.
• The commercial seaweed market growth is driven by the increasing demand for commercial seaweed from various end-use industries such as food & beverages, agriculture, and others.
• Based on the product, the green seaweed segment is expected to dominate the market over the forecast period.
• Based on the form, the leaf segment is expected to hold a significant market share over the forecast period.
• Based on the application, the human consumption segment is expected to lead the market over the forecast period.
• Based on region, the Asia Pacific is expected to dominate the market during the forecast period.

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Commercial Seaweed Market: Growth Drivers

Increasing health awareness drives market growth

Increased knowledge of the advantages of eating seaweed for health is an essential driver. Vitamins, minerals, fiber, and antioxidants are among the many of the vital components that seaweed is abundant in. Additionally, it has few calories, making it a healthy addition to diets. Consumers who are concerned about their health are drawn to seaweed because of its potential to help with weight control, heart health, and general well-being. Thus, the various health benefits owing to the consumption of seaweed along with rising health awareness among individuals are expected to drive the global commercial seaweed market growth over the forecast period.

Commercial Seaweed Market: Restraints

Seasonal and environmental factor hampers the market growth

Seasonal and environmental elements including water temperature, sunlight, and water quality have an impact on seaweed farming. Consistent production can be difficult because of these variables, which can result in variances in seaweed output and quality. Thus, the seasonal and environmental factors might be a major restraining factor to the commercial seaweed industry growth during the forecast period.

Commercial Seaweed Market: Opportunities

Growing demand for commercial seaweed in the animal feed industry offers an attractive opportunity for market growth

Coastal-dwelling animals including sheep, cattle, and horses consume seaweed, particularly in European nations where brown seaweed is widely accessible. With the creation of seaweed meals, seaweed becomes more readily available to animals. Animal feed is made from dried seaweed that has been ground into a fine powder. Norway was the first country to use the Ascophyllum nodosum species to create seaweed meal. Laminaria Digitata is used to produce seaweed feed in France. Ascophyllum and Laminaria species are both used to prepare animal feed in Iceland, while Ascophyllum seaweed is used to prepare seaweed in the United Kingdom. Seaweed in its dried state may be kept for a year without going rotten. Seaweed is a great source of vitamins, trace elements, and minerals including potassium, phosphorus, magnesium, calcium, sodium, chlorine, and sulfur. The proper operation of enzymes and proteins, which are engaged in numerous physiological, biochemical, and metabolic processes that support development and production, is needed for mammals in trace amounts. To increase the iodine content of the eggs produced by chicken, ascophyllum meal is necessary. Consuming seaweed is good for pigs since it increases the amount of meat they produce. The consumption of seaweed helps sheep and cattle produce more milk. According to several research, frequent seaweed eating helps farmers earn more money by boosting milk output. Each year, roughly 15,000 tons of seaweed meal are produced in Norway alone. Thus, owing to these benefits commercial seaweeds used in the animal feed industry, in turn, offer a lucrative opportunity to the commercial seaweed market growth.

Commercial Seaweed Market: Challenges

Side effect poses a challenge to market growth

Most seaweed has high iodine content, so if people consume a lot of it over time, then they could get too much of it. Even though many people can tolerate high iodine levels, some are more susceptible to its side effects, which can include hyperthyroidism. Changes in weight or neck swelling and stiffness are possible effects of the disease. Therefore, the side effect associated with the excess consumption of seaweed poses a major challenge to the market growth during the forecast period.

Commercial Seaweed Market: Segmentation

The global Commercial Seaweed industry is segmented based on product, form, application, and region.

Based on the product, the global market is bifurcated into brown seaweed, red seaweed, and green seaweed. The green seaweed segment is expected to dominate the market during the forecast period. Beta-carotene, which has been demonstrated to be useful in preventing cancer, is abundant in green algae. The sector growth is anticipated to accelerate over the anticipated period due to the rising demand for green algae in dietary supplements in the form of capsules and tablets. On the other hand, the brown seaweed segment is expected to grow significantly over the forecast period because it is widely used in sectors including agriculture, animal feed, and food & beverage. Brown seaweed is mainly utilized as a raw material for hydrocolloid alginate extraction and as food. A filler in candy bars and salad dressings, the substance is also employed as an emulsifier and thickening in syrups.

Based on the form, the global commercial seaweed industry is bifurcated into leaf, powdered, and flakes. The leaf segment is expected to hold a significant market share over the forecast period. Seaweed leaves are utilized in regional dishes including sushi, nori, onigiri, pandan, and others from Japan to Indonesia. For the past 1000 years, seaweed has also been a staple of the native cuisines of Iceland, Norway, and Ireland. In a variety of international cuisines, including salads, pickles, and vegetable additions, seaweed use has recently gained popularity. Thereby, driving the segment growth.

Based on the application, the global Commercial Seaweed market is bifurcated into agriculture, animal feed, human consumption, and others. The human consumption segment is expected to lead the market over the forecast period. The expansion is attributed to elements like rising customer demand for more organic and natural food & beverage items as well as raised knowledge of the advantages of seaweed's nutritional enrichment and health. Additionally, due to cultural considerations, there is a larger demand for seaweeds for direct human consumption in the Asia Pacific area, notably in China, Indonesia, South Korea, Malaysia, Japan, and the Philippines. Thereby, driving the segment growth during the forecast period.

Commercial Seaweed Market: Report Scope

Commercial Seaweed Market: Regional Analysis

The Asia Pacific is expected to dominate the market during the forecast period

The Asia Pacific is expected to dominate the global commercial seaweed market during the forecast period. Due to its having the largest population in the globe, the region has a bigger market share. Additionally, there is a huge increase in demand for commercial seaweed as a result of consumers' growing knowledge. China is the country that produces the most seaweed, followed by Japan and the Republic of Korea. But seaweed production is already widespread across all continents. Seaweeds are utilized in many different cuisines in China because they provide some nourishment. Seaweeds provide cuisine with new textures, tastes, and a pleasant scent. As a result, seaweed demand is rising throughout the Asia-Pacific region.

On the other hand, North America holds a significant market share over the forecast period. The main reason for this is the increasing popularity of food items made from seaweed in the region. Another factor anticipated to drive market expansion is the multiple benefits seaweed extracts provide for the skin, including hydration, anti-aging, and skin-lightening properties.

Commercial Seaweed Market: Competitive Analysis

The global Commercial Seaweed market is dominated by players like:

• Roullier Group
• Compo GmbH & Co. KG
• Gelymar SA
• Biostadt India Limited
• E.I. Du Pont de Nemours and Company
• Cargill Inc.
• Acadian Seaplants Limited
• Seasol International Pty. Ltd.
• BrandT Consolidated Inc.
• Leili Group
• West Coast Marine Bio-Processing Corp.
• Chase Organics GB Limited
• CP Kelco
• Indigrow Ltd.
• Travena Organic Solutions Ltd.

The global Commercial Seaweed market is segmented as follows:

By Product

• Brown Seaweed
• Red Seaweed
• Green Seaweed

By Form

• Leaf
• Powdered
• Flakes

By Application

• Agriculture
• Animal Feed
• Human Consumption
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa