Global Commercial Seaweed Market size is projected to reach USD 27.07 Billion by 2028 from an estimated USD 16.23 Billion in 2021, growing at a CAGR of 7.58%.
Seaweed refers to the number of species of multicellular, marine algae and it is adaptable product widely used for food in direct human consumption, then animal feed, cosmetics, agriculture, and others. Basically, seaweed is collected from the wild, but now it is increased as commercial seaweed cultivation. Seaweed found in three forms such as brown, red and green seaweed. Furthermore, the seaweed cultivation has increased rapidly as demand has outstripped the supply available from natural resources which leads to growth of the market during forecast period.
The Top Key Players includeCommercial Seaweeds Market:
DowDuPont Inc.,Cargill Incorporated,Beijing Leili Agricultural Co. Ltd.,Organic Irish Seaweed Emerald Isle,Seaweed Solutions AS,Nantong Xinlang Seaweeds and Foods Co. Ltd.,CP Kelco US Inc.,Groupe Roullier,J.M. Huber,Kerry Group Plc.,Ocean Harvest Technology Ltd.,Gelymer S.A.,Corbion N.V.,Green Ocean Farming UK and other major players.
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Commercial seaweed products such as carrageenan are widely used in the food and beverage industry as emulsifying and particle suspension agents, thickeners, stabilizers, and protein stabilizers in various types of processed food products such as chocolate milk, salad dressings, dairy products, ice cream, and sour cream. Commercial seaweed is majorly used as a substitute for gelatin-based food and beverage products, especially for the vegan population. Commercial seaweed is also widely used in food applications such as baked products, confectioneries, and beverages.
Market Segmentation
By Type
By Form Liquid
By Application
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Region and country level analysis:
· North America (U.S., Canada, Mexico)
The Impact of COVID-19 on the Seaweed Market
The COVID-19 pandemic has adversely hit many economies around the world. Government measures to combat the COVID-19 pandemic, such as nationwide lockdowns and quarantines, negatively impacted many industries. Most manufacturers of food products in the F&B sector continue to feel the impact of COVID-19. Social distancing, self-isolation, and city-wide lockdowns have forced the closures of many establishments in countries across Asia, the U.S., Europe, and the rest of the world.
Key Industry Developments
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Oct 30, 2023