The latest research study “Commercial Seaweeds Market Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global commercial seaweeds market reached a value of US$ 17.7 Billion 2021. Looking forward, IMARC Group expects the market to reach US$ 31.0 Billion by 2027, exhibiting a CAGR of 9.71% during 2022-2027.
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Industry Definition and Application:
Commercial seaweeds are species of macroscopic, multicellular, and marine algae produced in lakes, rivers, oceans, and other water bodies. They are rich in proteins, vitamins, minerals, fibers, iodine, and other essential nutrients. They aid in promoting gut health, lowering blood cholesterol levels, and minimizing the risk of heart diseases and lifestyle-related diseases. They are used as a thickening and gelling agent to prepare various foods and snacks. They are commonly available in different forms, including liquid, powder, and flake. At present, the increasing awareness about the benefits of consuming medical foods and the rising health consciousness among the masses is driving the demand for commercial seaweeds across the globe.
Global Commercial Seaweeds Market Industry Trends and Drivers:
Commercial seaweeds are used as fertilizers in the agriculture sector to improve the levels of phosphorous, nitrogen, and other nutrients in plants and restore the normal fertility of the soil. Along with this, the increasing awareness about the benefits of using commercial seaweeds represents one of the major factors augmenting the market growth around the world. Declining arable land, the growing food security concerns, and rising awareness about the harmful effects of chemical-based fertilizers are driving the need for eco-friendly solutions to improve crop yield. Besides this, due to increasing environmental concerns, several initiatives are being undertaken by governments of numerous countries to promote sustainable agriculture practices, which is also fueling the market growth.
Moreover, there is a shift in consumer preferences for organic food products, which is contributing to the market growth. In addition, commercial seaweeds are employed in the pharmaceutical industry as a bioactive compound for manufacturing various drugs and treating gallstones, stomach ailments, eczema, and cancer. Along with this, the rising need for prescription drugs due to the growing prevalence of severe medical diseases, such as scabies, psoriasis, asthma, arteriosclerosis, heart disease, lung diseases, and ulcers among the masses, is creating a positive outlook for the market. Apart from this, commercial seaweeds are used in the manufacturing of personal care and cosmetic products, such as lotions, creams, moisturizers, shampoos, conditioners, and face packs. Along with this, the expanding number of e-commerce websites is boosting the sales of personal care and cosmetic products, which is providing a thrust to the market growth. Furthermore, market leaders are heavily spending in research and development (R&D) operations in order to offer more effective seaweed processing and manufacturing technologies, which are expected to drive market growth in the future years.
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Commercial Seaweeds Market 2022-2027 Competitive Analysis and Segmentation:
The report has been segmented the market into following categories:
Breakup by Product:
Breakup by Form:
Breakup by Application:
Middle East and Africa
List of Major Key Players:
Acadian Seaplants Limited
Algaia SA (Maabarot Products Ltd.)
Biostadt India Limited
BrandT Consolidated Inc
Cargill Incorporated (Cargills PLC)
COMPO Expert GmbH
CP Kelco U.S. Inc (J.M. Huber Corporation)
DuPont de Nemours Inc (NYSE: DD)
Lonza Group AG (SWX: LONN)
Seasol International Pty. Ltd
TBK Manufacturing Corporation (IDX: SCCO)
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