Major players in the commercial seaweed market are Cargill Inc., DuPont de Nemours Inc., AquAgri Processing Pvt. Ltd., West Coast Marine Bio-Processing Corp., The Seaweed Company B.V., Acadian Seaplants Limited, Extractos Naturales Gelymar S.A., BrandT Consolidated Inc., Pacific Harvest, The Irish Seaweed Company, AtSeaNova, Seaweed Solutions, and Shore Seaweed.
The global commercial seaweed market grew from $17.3 billion in 2022 to $19.66 billion in 2023 at a compound annual growth rate (CAGR) of 13.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The commercial seaweed market is expected to grow to $30.91 billion in 2027 at a CAGR of 12.0%.
The commercial seaweed market consists of sales of shampoo, skincare creams ,make up products, cleaners, shower gel.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The commercial seaweed are used as food ingredients, agricultural fertilizers, animal feed additives, and pharmaceutical ingredients.Commercial seaweed refers to microalgae that grow in the sea.
It can be grown in both marine water and fresh water and can be used as a source of long- and short-chain chemicals.
Asia-Pacific was the largest region in the commercial seaweed market in 2022. The regions covered in the commercial seaweed market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of commercial seaweed are liquid, powdered, and flakes.The liquid type of seaweed is used to provide nourishment for plants.
Plants benefit greatly from liquid seaweed as it contains hormones such as auxins, cytokinins, and gibberellins, as well as other vitamins, minerals, and enzymes that promote natural growth.These nutrients fuel the growth of plant cells, resulting in healthier, stronger, and more disease-resistant plants.
The various products include brown seaweed, red seaweed, and green seaweed that are used in food and beverages, agricultural products, animal feed additives, pharmaceuticals, and other end-users.
The increasing consumption of plant-based products will propel the growth of the commercial seaweed market going forward.Plant-based food refers to a finished product consisting of ingredients derived from plants that include vegetables, fruits, and whole grains.
Commercial seaweed is used in the manufacture of plant-based foods.These seaweeds help to increase protein content in plant-based products.
For instance, according to the Good Food Institute, a US-based non-profit organization that promotes plant- and cell-based alternatives to animal products, in 2020, dollar sales of plant-based food grew by 43%, which increased from $5.5 billion in 2019 to $7 billion in 2020. Therefore, increasing consumer consumption of plant-based products is driving the growth of the commercial seaweed market.
Technological advancement is a key trend gaining popularity in the commercial seaweed market.Major companies operating in the commercial seaweed sector are focused on developing technological innovations to sustain their position.
For instance, in May 2021, Panorama, a Germany-based organization that focuses on innovative solutions for conservation and sustainable development, launched new innovations in tubular nets, which work on "off-bottom" peg and rope technology.This helps in improving seaweed productivity and local ecological conditions.
Also, these prevent the growth of the high-value Cottonii seaweed species, which helps to get good quality seaweed.
In April 2022, The Seaweed Company, a Netherlands-based provider of seaweed products, acquired Zeewaar for an undisclosed amount.The Seaweed Company anticipates strengthening its position in the "Blue Food" sector by including seaweed entries and ingredients on the menus of European consumers and businesses.
Zeewaar is a Netherlands-based seaweed farm.
The countries covered in the commercial seaweed market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The commercial seaweed market research report is one of a series of new reports that provides commercial seaweed market statistics, including commercial seaweed industry global market size, regional shares, competitors with a commercial seaweed market share, detailed commercial seaweed market segments, market trends and opportunities, and any further data you may need to thrive in the commercial seaweed industry. This commercial seaweed market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.