The global commercial seaweed market is expected to grow at a compound annual growth rate (CAGR) of 11% during the forecast period 2023-2031. The rising demand for seaweed is expected to be driven by technological advancements in cultivation, as well as investments in animal feed and agriculture. Seaweed is the main source of iodine. It is also rare in other food items and ingredients. The human body's estrogen and estradiol levels must be controlled. The use of seaweed or its isolates increases satiety. It also lowers postprandial absorption rates for glucose and other lipids. This aids in the creation of healthy, low-obesity foods. Due to their anti-microbial abilities, seaweeds are used both as food and as ingredients.

Market Suffered Due to Adverse Impact of Covid-19

The pandemic had an adverse effect on the growth of the commercial seaweed market in 2021. The travel restrictions in major seaweed-producing regions have severely impacted the seaweed trade. The production of farmed seafood, which is more than 97% in total seaweed production, has seen a steady decline in production between June 2021 and November 2021. COVID-19's impact on seaweed production in South Asian countries such as South Korea, Indonesia, China, and China has seen a lower domestic consumption. Due to the closures of international trade and international boundaries to stop the spread of coronavirus throughout the globe, seaweed exports have had a significant effect.

Focus on Healthy Options Boosting the Market Revenues

The supply of commercial seaweed is crucial to satisfy the consumer's nutritional needs and decrease the risk of certain diseases. Commercial seaweed provides better yield quality and quantity in agriculture and meets the increasing demand of hydrocolloids for food & beverages as well as cosmetics & personal health. Recent studies have shown that commercial seaweed can be used to fight the COVID-19 disease. It has a greater effect than the vaccine. This is why commercial seaweed has become an important parameter. To meet the rising demand for seaweed products, many companies expand their manufacturing facilities. The continued investment by the major market players has greatly contributed to improved preservatives as well as thickeners and other gums. The potential uses of seaweed are growing and will likely boost market growth over the forecast period 2021-2028.

Red Seaweed Contributes to Over Half of the Market Revenues in 2021

Red seaweed was the dominant market segment contributing to about 54% of all the total revenues in 2021. Due to its high functional attributes, this segment is expected to grow rapidly over the next few years. They are useful as food crops and rich in vitamins. Red seaweeds are used extensively in food preparations.

Brown seaweed has the second-largest product category, with a substantial revenue share of 43% for 2021. Its widespread usage in the food and beverage, agriculture, and animal feed industries will drive strong growth for brown seaweed over the forecast period. It is expected that the segment will grow because of rising health awareness among consumers. This is in addition to ongoing research and development activities for the purpose of developing novel products.

Seaweed Application in Food Dominates with Over 82% of Revenue Contribution

Seaweed is an important food that can be eaten directly by humans. The highest revenue share, 82%, is in the Human Consumption segment. Rising population, rising disposable incomes, increased awareness regarding healthy eating habits, and increased global demand for processed food products are the key drivers impacting the market revenues in this segment. Due to its cultural features, the Asia Pacific region is home to a greater demand for seaweeds. Form

In 2021, the shared revenue from liquid seaweed reached 52%. The liquid version of seaweed is used for foliar fertilizer and soil conditioner, which provides minerals, vitamins, and potassium to plants. These nutrients boost plant cell growth, making them healthier and more resistant to diseases. The liquid fertilizers and biostimulants are the names given to seaweed extracts. They contain many growth regulators, such as auxins, betaines, gibberellins as well macronutrients (K, Ca, and Pa), and micronutrients (Cu, B, Fe Zn, Mn. Co. and Mo. It is expected that the liquid-form segment will grow in the future due to increased demand for the product as an insecticide and biostimulant for plant growth.

APAC Taking Over 75% of Market Revenues

Asia Pacific dominated and held the largest revenue share at 75%. China is the Asia Pacific's leading seaweed producer. South Korea, Japan, and China are also the most important seaweed consumers in this region. The traditional value of seaweed in traditional food and medical applications makes it a favorite marine plant food. Asia Pacific is likely to experience a higher level of product demand due to the growing regional food industry. Europe is the most important region after the Asia Pacific, for the production of and consumption of seaweed around the globe. Norway, Ireland, Spain and other European countries are among the top seaweed producers in the region. Ireland exports most of Europe's seaweed, with the majority of European countries including France, Germany, and the U.K. The U.S. market will witness significant growth in the product segment brown seaweeds between 2023-2031. For hydrocolloids, brown seaweeds can be used such as alginate (agar), carrageenan (carrageenan), and alginate (alginate). Hydrocolloids act as thickeners, emulsifiers or stabilizers in different food applications. A growing market for healthy food additives is expected, which can significantly replace calorie-rich oils and fats in food products. This will fuel the U.S. market's growth. The Middle East & Africa market for commercial seaweed is in its infancy and is expected to grow during the forecast period.  New food ingredients & recipes will be in demand due to increasing consumption of healthy foods as well as changing consumer demographics.

Immense Opportunities for New Entrants

Seaweed production is concentrated in the areas along the coasts from seaweed-producing countries such as Japan and Indonesia. The market offers great potential for new and emerging players who need broad support throughout the value chain. Key strategy of key players includes mergers &acquisitions and joint ventures to expand their market share. To provide the best product quality, most of the industry's key players also have their distribution networks. This gives them a competitive advantage through cost savings and an increase in profit margin. The global commercial seaweed report covers Cargill, DuPont, Marcel Carrageenan, AtSeNova, Beijing Leili Agricultural Co., Ltd, Pacific Harvest, Irish Seaweed, Ocean Rainforest, Indigrow Ltd, Seaweed Solutions AS, Maine Coast Sea Vegetables, Kelp Industries, Pty, Ltd., Organic Irish Seaweed–Emerald Isle, Green Ocean Farming UK, Nantong Xinlang Seaweed & Foodscadia Seaweed, KwangcheonKim and others. 

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Commercial Seaweed market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Commercial Seaweed market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Commercial Seaweed market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Commercial Seaweed market?
• Which is the largest regional market for Commercial Seaweed market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Commercial Seaweed market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Commercial Seaweed market worldwide?