Worldwide Seaweed Industry to 2028 - Growing Demand for Biofuels Presents Opportunities

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Sep 15, 2021, 10:45 ET

DUBLIN, Sept. 15, 2021 /PRNewswire/ -- The "Seaweed Market by Type, by form, by Application, and Geography - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

This report provides an in-depth analysis of the seaweed market in five major geographies and emphasizes on the current market trends, market size, market shares, recent developments, and forecasts to 2028. The seaweed market is expected to record a CAGR of 9.1% from 2021 to 2028 to reach $23.2 billion by 2028. In terms of volume, the seaweed market is expected to register a CAGR of 9.5% from 2021 to 2028 to reach 11,408.3 KT by 2028.

The growth of this market is expected to be driven by factors such as rising consumer adoption for plant-based products, increasing consumption of seaweed-based products, source of high nutrients & minerals, and growing government initiatives to boost seaweed cultivation. Growing demand for biofuels and technological advancements are expected to create lucrative opportunities for manufacturers in the seaweeds market. However, the growing prevalence of natural calamities hinders market growth to some extent.

The study offers a comprehensive analysis of the seaweed market based on the type, form, application, and geography. The seaweed market is mainly segmented by type (red seaweed, brown seaweed, and green seaweed), form (dry form and liquid form), application (food and beverage, extraction of hydrocolloids, animal feed, agriculture, and other applications), and geography. The study also evaluates industry competitors and analyzes the market at the country level.

Based on type, the seaweed market is mainly segmented into red seaweed, brown seaweed, and green seaweed. The red seaweed segment is estimated to command the largest share of the seaweed market in 2021. The segment is also expected to record the highest CAGR during the forecast period, owing to the rising health consciousness, growing food applications of red seaweeds, and increasing demand for agar and carrageenan hydrocolloids in several industries.

Based on form, the seaweed market is segmented into dry and liquid forms. The dry form segment is estimated to command the largest share of the seaweed market in 2021. The segment is also expected to record the highest CAGR during the forecast period, owing to the growing demand for seaweed powder from the food and cosmetics industries. Moreover, its several benefits such as comparatively high shelf-life and ease of transport and storage are further expected to support the growth of this market.

Based on application, the seaweed market is mainly segmented into food and beverage, extraction of hydrocolloids, animal feed, agriculture, and other application. The food and beverage segment is estimated to command the largest share of the seaweed market in 2021. The segment is also expected to record the highest CAGR during the forecast period, owing to the growing demand for organic foods products, increase in consumption of plant proteins and vegan products, and increase in the utilization of seaweed for human consumption. Moreover, rapid growth in population, increasing awareness towards health benefits of seaweeds, changes in lifestyle patterns and taste preferences among consumers, healthy eating habits, and rising disposable income are further expected to support the growth of this market.

This research report evaluates major geographies and provides a comprehensive analysis of North America (U.S. and Canada), Europe (France, Norway, Spain, Italy, U.K., Germany, Ireland, and RoE), Asia-Pacific (China, Japan, South Korea, India, Indonesia, Australia, and RoAPAC), Latin America (Chile, Brazil, Mexico, Argentina, and RoLATAM) and the Middle East & Africa.

Asia-Pacific is estimated to command the largest share of the seaweed market in 2021, followed by Europe and North America. The large share of this regional market is mainly attributed to the presence of several local and regional players, various government initiatives to promote the cultivation and usage of seaweeds in several industries, growing demand for organic food products, and increasing applications of commercial sea vegetables, especially in food. Moreover, large-scale production and huge consumption of seaweeds in the region, owing to the availability of the raw materials, favorable climatic conditions for the production of seaweeds, and cheap labor availability, further support the growth of the seaweed market in the region. However, North America is expected to register the highest CAGR during the forecast period due to the huge food & beverage industry, rising health & wellness trends, huge demand for organic food, and growing demand from the pharmaceutical industry.

The key players profiled in the seaweed market research report are Seaweed & Co. (U.K.), Cargill, Incorporated (U.S.), Green Rise Agro Industries (India), VietDelta Ltd. (Vietnam), Ocean rainforest (Denmark), Thorverk hf. (Iceland), ALGAplus (Portugal), MYCSA Ag, Inc. (U.S.), Baoji Earay Bio-Tech Co., Ltd (China), Shore Seaweed (U.K.), Rongcheng Jingyi Ocean Technology Co., Ltd. (China), Sar Agrochemicals & Fertilizers Pvt. Ltd. (India), and Algea, the Arctic Company (Part of Valagro Group) (Norway), among others.

Key Questions Answered in the Report

Which are the high-growth market segments in terms of type, form, application, and region/country?
What was the historical market size for seaweed across the globe?
What are the market forecasts and estimates for 2020-2027?
What are the major drivers, restraints, opportunities, and challenges for the global seaweed market?
Who are the major players in the global seaweed market?
How is the competitive landscape, and who are the market leaders in the global seaweed market?
What are the recent developments in the global seaweed market?
What are the geographical trends and high-growth regions/countries?
Who are the local emerging players in the global seaweed market, and how do they compete with the global players?

Key Topics Covered:

1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Insights
4.1. Introduction
4.2. Drivers
4.2.1. Rising Consumer Adoption for Plant-Based Products
4.2.2. Increasing Consumption of Seaweed-Based Products
4.2.3. Source of High Nutrients and Minerals
4.2.4. Rising Government Initiatives to Boost Seaweed Cultivation
4.3. Restraints
4.3.1. Growing Prevalence of Natural Calamities
4.4. Opportunities
4.4.1. Growing Demand for Biofuels
4.4.2. Technological Advancement
4.5. Challenges
4.5.1. Health Complications Associated with Excess Intake
4.6. Trends
4.6.1. Growing Focus on Environmental Sustainability
4.7. Seaweed Production Analysis
4.8. Pricing Analysis

5. The Impact of Covid-19 on the Seaweed Market

6. Global Seaweed Market, by Type
6.1. Introduction
6.2. Red Seaweed
6.3. Brown Seaweed
6.4. Green Seaweed

7. Global Seaweed Market, by Form
7.1. Introduction
7.2. Dry Form
7.2.1. Powder
7.2.2. Flakes
7.2.3. Other Forms
7.3. Liquid Form

8. Global Seaweed Market, by Application
8.1. Introduction
8.2. Food and Beverage
8.3. Hydrocolloids Extraction
8.4. Animal Feed
8.5. Agriculture
8.6. Other Applications

9. Seaweed Market, by Geography
9.1. Introduction
9.2. Asia-Pacific
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Indonesia
9.2.6. Australia
9.2.7. Rest of Asia-Pacific (RoAPAC)
9.3. North America
9.3.1. U.S.
9.3.2. Canada
9.4. Europe
9.4.1. France
9.4.2. Norway
9.4.3. Spain
9.4.4. Italy
9.4.5. U.K.
9.4.6. Germany
9.4.7. Ireland
9.4.8. Rest of Europe (RoE)
9.5. Latin America
9.5.1. Chile
9.5.2. Brazil
9.5.3. Mexico
9.5.4. Argentina
9.5.5. Rest of Latin America (RoLATAM)
9.6. Middle East and Africa

10. Company Profiles (Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)
10.1. Seaweed & Co.
10.2. Cargill, Incorporated
10.3. Green Rise Agro Industries
10.4. VietDelta Ltd.
10.5. Ocean Rainforest
10.6. Thorverk hf.
10.7. ALGAplus
10.8. MYCSA Ag, Inc.
10.9. Seaweed Solutions AS
10.10. The Seaweed Company
10.11. Baoji Earay Bio-Tech Co., Ltd
10.12. Shore Seaweed
10.13. Rongcheng Jingyi Ocean Technology Co., Ltd.
10.14. Sar Agrochemicals & Fertilizers Pvt. Ltd.
10.15. Algea (Part of Valagro Group)

11. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/58s3hh

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