Global Commercial Seaweed Market Opportunities and Forecast 2023-2030

Commercial Seaweed Market Overview

Increasing awareness concerning the health benefits of the product including increasing demand for foods and snacks derived from commercial seaweed is estimated to spice up the human consumption application segment. The swelling demand for marine plant extracts, used as a thickening and gelling agents within the cosmetic and food industries, is additionally likely to boost growth, primarily in North America and Europe.
 
Increasing demand over the last fifty years outstripped the power to provide requirements from natural (wild) stocks. Research regarding the life cycles of economic sea vegetables have led to the event of cultivation industries that now produce more than 90.0 percent of the general demand. In Ireland, Iceland and Nova Scotia (Canada), a special sort of sea vegetable has traditionally been eaten, and therefore the marketplace for commercial seaweed is being developed.
 
The biggest challenge for seaweed manufacturers are that the occurrence of natural calamities, which affects the assembly of seaweeds within the coastal areas of seaweed-producing countries within the Asia Pacific and South American regions. Natural calamities, like typhoons, floods, droughts, earthquakes, volcanic eruptions, and pests & diseases, affect the productivity of seaweed farming. The occurrence of such calamities is uncontrollable and poses a big challenge to seaweed farmers. In response to such instances, seaweed farmers have shifted to assembling artificial ponds in off-marine areas (mariculture), requiring seawater. However, the adoption of such alternatives in cultivation techniques is related to high costs that pose a financial challenge to the farmers, thereby affecting the size of seaweed production.
 
Covid-19 Impact on Commercial Seaweed Market:

A pandemic such as COVID-19 has not only affected the smooth operations of food supply chains but also resulted in food insecurity conditions in several nations. Manufacturers working in the sector are facing challenges in regards to operations, safety, supply chain, training, emergency responses, awareness, incident management, recreating business models, digitalization, and other unanticipated impacts. Alcohol, a major component in beverage industry is facing a devastating effect of pandemic. 13% of the craft beer sector around the world is in the process of shutting up shop, and the wine industry is in severe distress. Besides, shortage of raw materials caused shut down of many small to medium food processing companies around the world.
 
Commercial Seaweed Market Segment Overview

 The liquid sort of commercial sea vegetables is employed as foliar fertilizer and soil conditioner for plants to supply minerals, vitamins, potassium, and enzymes that accelerate plant growth.

Seaweed flakes have applications mainly in food, as they're increasingly used as salt substitutes. These are mostly used as seasoning agents. In countries like China and Japan, seaweed flakes are utilized in food preparations and are eaten raw. Seaweeds provide the physical body with magnesium, zinc, vitamin B12, biotin, and iron. They even have medicinal properties to cure diseases like lung cancer, prostate cancer, diabetes, and obesity.

Seaweed extracts are low-cost sources of present plant growth regulators that possess larger potential as bio-stimulants in agriculture. Within the countries, particularly in India, the agriculture application segment is anticipated to experience high growth within the future. Increased specialise in improving the agricultural productivity in India and China is that the major driving factor for the segment.

Market Analysis, Insights and Forecast – By Type
·      Brown seaweeds
·      Red seaweeds
·      Green seaweeds

Market Analysis, Insights and Forecast – By Form
·       Liquid
·       Powdered
·       Flakes
·       Others

Market Analysis, Insights and Forecast – By Application
·       Agriculture
·       Animal Feed
·       Human Consumption
·       Others

Commercial Seaweed Market Regional Overview

Region-wise, in terms of regions, Asia Pacific emerged because the largest regional marketplace for commercial seaweed in 2019 and is probably going to expand further at the fastest rate of growth within the coming years. The expansion is usually attributed to the heightened demand and production from countries including China, Indonesia, South Korea, and Japan. Increasing product demand within the regional food industry is anticipated to spice up the marketplace for commercial seaweed in Asia Pacific.
Rapid industrialization, including environment-friendly regulations, is anticipated to profit the expansion of the marketplace for commercial seaweed within the region. High demands from countries including China, India, and Japan, are projected to be critical contributors toward market growth. In Asia Pacific, the marketplace for commercial seaweed accounted for over 60.0% of the entire consumption in 2019.

In Asia Pacific, the marketplace for commercial seaweed is propelled by increasing applications of economic sea vegetables particularly in food, nutraceuticals, care products, pharmaceuticals, adhesives, and gels. In Europe, the marketplace for commercial seaweed is predicted to expand at a big rate of growth due to increased seaweed cultivation in numerous countries including Ireland, France, and the U.K. High demand from the healthcare and food industries is probably going to reinforce growth over the forecast period.

Commercial Seaweed Market, By Geography
 
·       North America (US & Canada)
·       Europe (UK, Germany, France, Italy, Spain, & Rest of Europe)
·       Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
·       LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
 
Commercial Seaweed Market Competitor overview

Some key developments and strategies adopted by manufacturers in the Commercial Seaweed are highlighted below.
 
·        In December 2020, Qingdao Seawin Biotech Group Co. Ltd. (China) expanded its new industrial zone to start out in Qingdao High-tech Industrial Development Zone, which might be dedicated to the assembly of marine tool enzymes and bio-stimulants from double seaweeds, marine bio-bactericide, marine protein peptides, etc. The new zone is found within the Jiaodong Peninsula, covering a complete area of 520,000 square meters, and providing strong support and guarantee for industrial upgrading and future development of enterprises.

·       In August 2020, CP Kelco and Biesterfeld expanded their long-term partnership within the food and nutrition sector in Europe. As a part of this partnership, Biesterfeld is distributing CP Kelco’s nature-based pectin, carrageenan, xanthan gum, and citrus fiber in Germany, Poland, the Czech Republic , Slovakia, Hungary, Estonia, Lituania, and Latvia. This partnership will enhance the company’s strong presence in Europe.

·       Algaia launched a replacement range of seaweed-based texturing solutions named VegAlg in January 2019, designed to contribute shape and structure, and add juiciness to plant-based burgers. This new product launch would strengthen its market position within the food industry.
 
Commercial Seaweed Market, Key Players

·       Cargill, Incorporated
·       DuPont
·       Groupe Roullier
·       CP Kelco U.S., Inc.
·       Acadian Seaplants
·       Qingdao Gather Great Ocean Algae Industry Group
·       Qingdao Seawin Biotech Group Co. Ltd.
·       Seaweed Energy Solutions AS
·       The Seaweed Company
·       Algea
·       Seasol
·       Gelymar
·       Algaia
·       CEAMSA
·       COMPO EXPERT
·       Leili
·       Irish Seaweeds
·       AtSeaNova
·       Mara Seaweed
·       AquAgri Processing Pvt. Ltd.