The Commercial Seaweed Market is foreseen to progress at a considerable compound annual growth rate over the estimated period from 2021 to 2026. The commercial seaweed market will be initiated by increasing call from the food business. The consumption of seaweeds was facilitated a long time ago in the fourth century in Japan and sixth century in China. These days, they are becoming more popular among customers due to advantages like nutrition-rich content, supporting the ability to thyroid function and an excellent source of vitamins, antioxidants & minerals. Furthermore, they help in weight loss and decrease the risk of heart disease and diabetes. The present global population is around 7.5 billion and is estimated to cross 9 billion at the end of 2050, which will further propel the demand for food production.
The United Nations has been forecasting a lot of interest in escalating the seaweed production as it promotes the global food security. Carrageenan farming has an economic potential with less capital investment, decent farming technique and short production cycle. A biologist of Wageningen University has shown the findings on decreasing the acidification of the oceans by promoting the sea lettuce growth. As per the recent studies, lettuce can reduce the acidity in water as it grows, and the biologist team also discovered that a marine garden covering over 180,000 square kilometers could offer enough protein for the global population.
Recent Developments and Trends:
Mara Seaweed introduces new blends in Morrisons Supermarkets in the UK. After several months of hard work, Mara's seaweed blends, Shony and Furikake, are in a key UK supermarket for the first time. Mara's products are now present in 403 Morrisons stores nationwide.
Seawin Biotech Group Introduced the United States Business Division. As China's biggest manufacturer of fertilizers made from seaweed, Seawin Biotech Group is the business leader in China, with a 17-year history of offering high-quality products. The company has recently established a business division in the United States to expand its operations further.
Commercial Seaweed Market Drivers and Restraints:
Favorable trends related to global pharmaceutical business will propel the global commercial seaweed market expansion within the foreseen period. The product is employed as a smooth laxative and for the production of staple fibers used in wound dressings. In addition to that, it is used as a tablet disintegrant and controlled release of medicinal drugs and other chemicals. R&D programs, together with technological progressions, are going to initiate the expansion of the pharmaceutical segment in future. Furthermore, rising government expenditure will fuel the segment's expansion. These trends, as mentioned earlier, will positively influence the development of commercial seaweed industry by 2025.
Such trends, along with easy availability and increasing spending tendency of individuals, will boost the market expansion. Customers in developed countries are becoming health conscious that will attract product demand in future years. The United Nations has been showing much interest in escalating the seaweed production as it promotes global food security.
Commercial Seaweed Market - By Product:
Red seaweed is predicted to rise at a CAGR over 7% during the foreseen time. These seaweeds are small in length, ranging from few centimeters to about a meter and are mainly employed as a food and sources of hydrocolloids like agar and carrageenan.
Commercial Seaweed Market - By Form:
Wet seaweed sector recorded around USD 9.5 billion in 2018. Countries like China, South Korea, Chile, Norway, Japan, Madagascar and other southeast Asian countries are mainly consuming the wet seaweeds in the form of salads, curd soups, seasoned snacks and also with rice dishes. The demand for dry products is also estimated to expand steadily in the coming years.
Commercial Seaweed Market - By End Use:
Animal feed captured around 4% volume share in 2018 and shows a positive outlook in future years. The product is employed as an additive in animal feed, particularly in the coastal regions. It contains a massive amount of essential vitamins and different minerals like potassium, phosphorous, calcium, sodium, magnesium, chlorine & sulphur, which plays a vital role in the healthy development of the animal.
Marked Segmentation based on the region:
a. Middle East
Asia Pacific commercial seaweed market will lead the global business in the foreseen period. China, South Korea and Japan are the dominating customers in this region. Positive trends related to food business triggered by large population is bound to propel the market expansion in future years. Rising seaweed cultivation activities backed by supportive government policies will fuel the seaweed production by 2025.
North America commercial seaweed market will rise at a CAGR over 6% at the end of outlook period due to increasing demand from pharmaceutical business. According to The European Federation of Pharmaceutical Industries and Associations (EFPIA), North America accounted for around half of the global pharmaceutical market in 2017. Large investments and continuous research and development activities will assist in the expansion of regional pharmaceutical business. This in turn will spur the commercial seaweed market expansion between 2020 and 2025.
Some of the major producers in the global commercial seaweed market are Seasol International, CP Kelco, Yan Cheng Hairui Food Co., Ltd., Mara Seaweed, Biostadt India Limited, Algea AS, Qingdao Seawin Biotech Group Co., Ltd., FMC BioPolymer AS, Indigrow Ltd., Chase Organics GB Ltd., Arcadian Seaplants Ltd., Pacific Harvest, Aquatic Chemicals and Marcel Carrageenan. These companies are trying to gain competitive benefit with the employment of different strategies like growth of production capacity, mergers & acquisitions and collaboration with distribution centers.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Commercial Seaweed Market, By Product
6.1.1 Red Seaweed
6.1.2 Green Seaweed
6.1.3 Brown Seaweed
6.1.4 Market Size Estimations & Forecasts (2019-2024)
6.1.5 Y-o-Y Growth Rate Analysis
6.1.6 Market Attractiveness Index
6.2 Commercial Seaweed Market, By Form
6.2.3 Market Size Estimations & Forecasts (2019-2024)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
6.3 Commercial Seaweed Market, By End Use
6.3.2 Animal Feed
6.3.3 Personal Care
6.3.6 Market Size Estimations & Forecasts (2019-2024)
6.3.7 Y-o-Y Growth Rate Analysis
6.3.8 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Product
7.2.3 By Form
7.2.4 By End Use
7.3.1 By Country
188.8.131.52 Rest of Europe
7.3.2 By Product
7.3.3 By Form
7.3.4 By End Use
7.4 Asia Pacific
7.4.1 By Country
184.108.40.206 South Korea
220.127.116.11 South East Asia
18.104.22.168 Australia & NZ
22.214.171.124 Rest of Asia-Pacific
7.4.2 By Product
7.4.3 By Form
7.4.4 By End Use
7.5 Latin America
7.5.1 By Country
126.96.36.199 Rest of Latin America
7.5.2 By Product
7.5.3 By Form
7.5.4 By End Use
7.6 Middle East and Africa
7.6.1 By Country
188.8.131.52 Middle East
7.6.2 By Product
7.6.3 By Form
7.6.4 By End Use
8. Key Player Analysis
8.1 Seasol International
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 CP Kelco
8.3 Yan Cheng Hairui Food Co., Ltd
8.4 Mara Seaweed
8.5 Biostadt India Limited
8.6 Algea A
8.7 Qingdao Seawin Biotech Group Co., Ltd.
8.8 FMC BioPolymer AS
8.9 Indigrow Ltd.
8.10 Chase Organics GB Ltd
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures