Seaweed Market Report, By Product (Brown, Red, Green), Application (Agriculture, Animal Feed, Human Consumption) Geography- Global Market Share, Trend Analysis & Forecast

Seaweeds are plant-like organisms that largely can be seen enclosed to rock or other hard substrata in coastal areas. The classification into divisions is based on numerous aspects such as pigmentation, chemical nature of photosynthetic storage product, the organization of photosynthetic membranes, and other morphological features. 

Seaweeds are an important producer in oceanic aquatic food webs. They are rich both in minerals and indispensable trace elements, and raw materials for the medicinal and cosmetics industry. It is a very multipurpose product extensively used for food in direct human consumption. The nutrients composition of seaweed differ and is affected by species, geographic area, season and temperature of water.

Global Seaweed Market- Driving Factors

Rising intake of seaweed as a food extract, medical use and for bio-refining is likely to accelerate the market over the forecast period. Moreover, increasing consumer awareness regarding nutritional benefits of seaweed is anticipated to develop the market growth. Similarly, technological advancements in the food sector has also reinforced the market.

However, lack of financial support and government engagement is likely to hamper the market growth. Similarly, happenings of natural calamities is also expected to result in limited production of seaweeds globally.

Seaweed Market- Segmental Overview

The study analyses Global Seaweed market based on product, application and geography. 

• Major seaweed products covered include Brown Seaweed, Red Seaweed and Green Seaweed. As red seaweed is used in majority of the sectors owing to its exceptional properties, it is likely to dominate the market over the forecast period. Brown seaweed products are also expected to grow steadily as it acts as a raw material for the removal of the hydrocolloid.
• The market finds application in agriculture, animal feed, human consumption and others. Rising populace and growing health concerns together with out of pocket expenditure are some of the aspects that may result in the domination of the market by human consumption segment. Followed by it is to be the animal feed segment which is anticipated to grow moderately over the estimated timeframe.

Global Seaweed Market-Regional Outlook

The market is studied for the key countries of North America, Europe, Asia Pacific and Rest of the World. High untapped market potential in North America and Europe is anticipated to accelerate the seaweed market over the estimated timeframe. Although, critical environmental conditions and volatility in the prices is projected to hinder the market growth. In the recent years, the European regulations and guidelines have pushed the development of seaweed cultivation as part of the European Unions Blue Growth initiative. In support to this initiative, the countries across Europe are funding to study the conceivable applications of seaweeds across various end-use sectors.

Global Seaweed Market-Key Players

The major players of the Seaweed Market are Cargill, Inc., DuPont, Roullier Group, BiostadIndia Ltd., Compo GmbH & Co., Gelymar SA, Seasol International, CP Kelco, West Coast Marrine Bio-Processing Corp., Leili Group, Chase Organics GB Ltd., Indigrow Ltd., The Cornish Seaweed Company and Travena Ltd. Among others.