According to the latest report by IMARC Group, titled “Commercial Seaweeds Market: Global Industry Trends, Share, Growth, Opportunity and Forecast 2023-2028,” The global commercial seaweeds market size reached US$ 19.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 33.9 Billion by 2028, exhibiting a growth rate (CAGR) of 9.66% during 2023-2028.
Commercial seaweeds refer to macroalgae attached to hard substrata in lakes, rivers, oceans, and several other water bodies. They are extensively used to produce water-soluble carbohydrates, which further find widespread applications in the food and beverage sector to increase the viscosity of aqueous solutions. They also help in enhancing the skin moisture retention properties of cosmetic products, such as lotions and creams. Moreover, due to the rich fiber content, commercial seaweeds are used as a soil conditioner and can be watered or applied directly around the plant root areas.
Commercial Seaweeds Market Trends:
The increasing consumption of seaweed as dietary supplements is primarily driving market growth. Furthermore, seaweeds are rich in bioactive compounds and have antimicrobial and antioxidant properties, which make them suitable for several medicinal purposes. Moreover, the expanding food and beverage (F&B) industry is increasingly adopting commercial seaweeds to stabilize ice creams, form gels, and produce water-soluble films. Additionally, the growing application of commercial seaweed as a thickening agent in the textile industry is also catalyzing product demand. Besides this, as seaweeds can absorb heavy metal ions, like cadmium and zinc, from polluted water, they are gaining widespread traction in wastewater treatment plants across the globe. This is anticipated to further propel the global commercial seaweed market in the coming years.
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Global Commercial Seaweeds Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Acadian Seaplants Limited
- Algaia SA (Maabarot Products Ltd.)
- Biostadt India Limited
- BrandT Consolidated Inc.
- Cargill Incorporated
- COMPO Expert GmbH
- CP Kelco U.S. Inc. (J.M. Huber Corporation)
- DuPont de Nemours Inc.
- Gelymar S.A.
- Indigrow Ltd.
- Lonza Group AG
- Seasol International Pty. Ltd.
- TBK Manufacturing Corporation.
The report has segmented the market on the basis on on region, product, form and application.
Breakup by Product:
- Brown Seaweeds
- Red Seaweeds
- Green Seaweeds
Breakup by Form:
- Liquid
- Powdered
- Flakes
Breakup by Application:
- Agriculture
- Animal Feed
- Human Consumption
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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