The new report by Expert Market Research titled, ‘Global Commercial Seaweed Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the global commercial seaweed market, assessing the market based on its segments like types, forms, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It al so assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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Commercial Seaweed Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 9.8%
The expanding technological advancements in seaweed cultivation and rising investments in application sectors like animal feed and agriculture are expected to increase the market demand for commercial seaweed. In recent years, commercial seaweed products have been widely used in pharmaceuticals for drug delivery systems.
These commercial seaweeds are used as excipients in the pharmaceutical industry, as an extrusion aid for the production of pellets, as a matrix in oral extended tablets, and as a stabilizer/carrier in the nanoparticles and microparticles system. In developing nations like China, Indonesia, and other South Asian nations, the demand for carrageenan is also increasing due to growing consumer knowledge of the advantages of nutrient-dense food, and this trend is projected to fuel the market expansion in the near future.
Commercial Seaweed Industry Definition and Major Segments
Commercial seaweed is available in a range of hues, including red, brown, and green. It is also referred to as marine algae. These seaweeds are sculpted into delicate fingers, large leaves, and spheres for commercial use. Commercial seaweed has been used for centuries all over the world, and in some coastal communities, it was also regarded as a food source.
By type, the market is segmented into:
• Brown Seaweed
• Red Seaweed
• Green Seaweed
Based on form, the market is divided into:
The major applications of the market are:
• Animal Feed
• Food and Beverages
On the basis of region, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Commercial Seaweed Market Trends
Improved preservatives, thickeners, and gums are largely a result of major market participants’ ongoing investments in research and development. Over the course of the forecast period, it is predicted that the market would grow more quickly due to increased developments in the potential uses of seaweed.
Commercial seaweed is mostly utilised as a gelatin-free alternative for food and beverage items, particularly for vegans. Commercial seaweed is frequently used in baked goods, confections, and beverages, among other food applications. Therefore, it is anticipated that over the forecast period, the use of commercial seaweed would increase in a variety of processed and convenience food products, driving the market’s overall expansion at a rapid rate.
Key Market Players
The major players in the market are:
- Cargill, Incorporated
- Seasol International Pty Ltd.
- Indigrow Ltd.
- IFF Nutrition & Biosciences (Dupont)
- Acadian Seaplants Limited
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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