IMARC Group, a leading market research company, has recently releases report titled “Commercial Seaweeds Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global commercial seaweeds market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the commercial seaweeds market?
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.
What are commercial seaweeds?
Commercial seaweeds refer to various types of algae that are harvested and cultivated for their economic value in various industries. Seaweeds, also known as macroalgae, are marine plants that grow in coastal areas and underwater habitats. They are rich in essential nutrients, including vitamins, minerals, and proteins, making them highly valuable in numerous industries, such as food and beverage (F&B), pharmaceuticals, cosmetics and personal care, and agriculture. At present, commercial seaweeds encompass various species, including red, brown, and green seaweeds, each offering unique properties and applications.
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What are the growth prospects and trends in the commercial seaweeds industry?
The global commercial seaweeds market is primarily driven by the increasing demand for seaweed-derived products and the growing awareness of their numerous benefits. Moreover, consumers are becoming aware of the health benefits of seaweed-based products. Seaweeds are a rich source of dietary fiber, antioxidants, and omega-3 fatty acids, contributing to improved digestion, cardiovascular health, and overall well-being. As a result, the growing consumer preference for natural and healthy ingredients has fueled the demand for seaweed-based products in the food and beverage industry. Moreover, the rising adoption of seaweed extracts in various industries, including pharmaceuticals and cosmetics, represents another major growth-inducing factor. Seaweeds contain bioactive compounds with potential therapeutic properties, such as anti-inflammatory and antioxidant effects. These properties make them valuable ingredients in the development of pharmaceutical drugs, skincare products, and functional foods. The global trend toward natural and sustainable ingredients has further augmented the demand for seaweed extracts, which offer eco-friendly alternatives to synthetic compounds. Additionally, the versatility of seaweeds, coupled with their emerging applications in agriculture as soil conditioners and fertilizers, is contributing to the market growth. Along with this, the widespread use of seaweed extracts in the agriculture sector helps enhance crop yields, improve soil health, and reduce the environmental impact of conventional fertilizers, thereby propelling market growth.
Furthermore, the surging utilization of commercial seaweeds in the aquaculture sector as feed for fish, shrimp, and other marine organisms is positively influencing the market growth. Besides this, the elevating demand for seafood, coupled with the sustainable and nutritional advantages of seaweed-based feeds, has led to the integration of seaweeds in aquaculture practices, augmenting the market growth. In addition, the development of innovative techniques for seaweed cultivation and harvesting has facilitated large-scale production and improved the efficiency of commercial seaweed operations, thereby catalyzing market growth. Other factors, including the expanding pharmaceutical sector, increasing consumer demand for natural and healthy products, the growing popularity of vegan and vegetarian diets, rising emphasis on environmental sustainability and marine conservation efforts, and favorable government support are also anticipated to drive the market further.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product:
- Brown Seaweeds
- Red Seaweeds
- Green Seaweeds
Breakup by Form:
Breakup by Application:
- Animal Feed
- Human Consumption
Breakup by Region:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- 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.
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