At 8.7% CAGR, Commercial Seaweeds Market Size to hit USD 23.95 billion in 2025, says Brandessence Market Research"
07 Oct, 2021, 19:00 IST
PUNE, India, Oct. 7, 2021 /PRNewswire/ -- According to Brandessence Market Research, The Commercial Seaweed Market is set to reach USD 23.95 billion in 2025. The market was valued at USD 13.36 billion in 2018 and is set on a robust path with a forecast of 8.7% CAGR during 2018-2025. Rising Dairy, and Cosmetic Application to Drive Growth
Some key seaweed companies in the commercial seaweed market are DuPont, Cargill, Qingdao Gather Great Ocean Algae Industry Group, Groupe Roullier. Furthermore, seaweed Asian market is also dominated by Qingdao Gather Great Ocean Algae Industry Group, and Qingdao Seawin Biotech Group Co.Ltd. The commercial seaweed forecast remains robust as the competitive landscape of the commercial seaweed market remains fragmented globally.
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Commercial Seaweed Market: Expert Analysis
According to the lead analyst at Brandessence market research, "The large consumption of dairy foods remains the key promise for growth for players in the commercial seaweed market. According to Food and Agricultural Organization of the United Nation (FAO), the world dairy output reached 906 million tonnes in 2020. Seaweed is widely used in dairy foods including instant puddings, ready mix mixes, artificial dairy toppings, and pie fillings. Seaweed derived alginic acids are used as both thickeners, and emulsifiers in syrups. These are also used in salad dressings, and candy bars, as fillers. Furthermore, the growing application of seaweeds in stabilizing dairy products such as syrups, puddings, creams, and pet foods will remain a new arena of opportunity in the near future. After dairy products, cosmetic application of commercial seaweed will remain the second largest business opportunity for players in the global commercial seaweed market".
The commercial seaweeds market is segmented on the basis of type, method of harvesting, application, form, and geography. On the basis of type, commercial seaweeds market is divided into red, green and brown. On the basis of method of harvesting commercial seaweeds market is divided into aquaculture and wild harvesting. On the basis of applications it is divided into food, animal feed, agriculture, pharma & medical, and others. On the basis of form commercial seaweeds market is divided into liquid, powder and flakes.
Commercial Seaweed Market: Key Product Insight
Diatomite, a type remains of brown algae, or seaweed, offers high absorptive capacity, low bulk density, and large surface area. Its qualities make it ideal as a filtering material for various beverages including beer, wine, soft drinks, and fruit juices. The seaweed contains over 90% silica, and its filtering capacity is important for industrial use as well. The seaweed is increasingly being used in chemical filtration for gold salts, sulfuric acid, and sodium hydroxide. Furthermore, its use as industrial oil or as lubricant in rolling mills, sugars, cooking oils, water supplies, jet fuels, and even as antibiotics continues to grow. Furthermore, it is also being increasingly used in sink cleansers, toothpastes, and polishes due to its low abrasive property. The low-cost production of seaweed, and its growing use in high-end applications promise a major boost for commercial seaweed forecast during 2020-2025.
Commercial Seaweed Market: Regional and Competitive Analysis
The commercial seaweed market report is divided into key geographies including North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Among these, the seaweed Asian market is expected to witness robust growth, thanks to increasing demand for seaweed as food products in new Asian countries. Furthermore, the growing use of seaweed in biotechnology, and other application has increased its commercial harvest, promising more cost-effective yield for producers. The seaweed extract market remains robust in North America, and Europe, as climate uncertainties continue to drive farmers to find new sources of animal feeds. The rising demand for meat, dairy, and cosmetic items continue to propel demand for seaweed forecast, promising robust opportunities for key seaweed companies.
October 10th, 2021, New York, USA –
Commercial seaweed has a variety of commercial application. These include growing use in dairy products, cosmetics, and even in biochemical industries. The seaweed continues to amaze researchers with growing new uses every day.
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Commercial Seaweeds Services Companies Market reports cover prominent players like,
Dupont De Nemours and Company, Ocean Harvest Technology, Seagreens, SeaSnax, Biostadt India Limited, Acadian Seaplants Limited, Brandt, CP Kelco, Cargill, Incorporated, Roullier Group, Compo Gmbh & Co. Kg, Gelymar, Seasol International Pty. Ltd, Aquatic Chemicals, Algea AS, Yan Cheng, Pacific Harvest, Chase Organics GB Ltd., Mara Seaweed, CEAMSA, The Cornish Seaweed Company, Leili Group, Irish Seaweeds, Chase Organics, GimMe Health Foods
Commercial Seaweed Market: Key Statistics
- According to the Food and Agriculture Organization of the United Nation, in 2020, 1 million tonnes of seaweed resulted in production of 55,000 of hydrocolloid tonne, resulting in value generation of USD585 million.
- USD213 million value generation was created using alginate. This seaweed is harvested from the wild, and often cannot be used as industrial raw material due to its heavy costs.
- In 2020, agar production reached a valuation USD 132 million. Agar production remains one of the most promising seaweed, with growing applications in photographic emulsions, dental prosthetics, chromatography, differentiation of proteins, and even in key growing innovations such as biotechnology.
- Seaweeds like Irish moss are used to produce carrageenan production. This produce of seaweed generated USD240 million in value in 2020. The low cost of production remains a major highlight of carrageenan containing seaweeds.
- Seaweed meal is also increasingly used as animal feed. The feed amounted to a valuation of USD 5 million, with a yield of 10,000 tonnes in 2020. The reliance on crude oil prices for drying this seaweed remains its major drawback.
Commercial Seaweed Market: Key Trends
- Cosmetic products often include ingredients like 'marine extract, or "extract of algae". This ingredient is usually a hydrocolloids derived from seaweeds. Such hydrocolloids have found niche medical applications. For example, in thalassotherapy, seaweed product is used to treat rheumatism, and osteoporosis. This product derived by grinding or freezing are applied as paste on a patient's body. The person is then provided infrared radiation therapy.
- Seaweed is a staple source of food in many parts of the world. Traditionally, seaweed was consumed in Japan and China, as early as the fourth century. Today, Korea, Japan, and China are one of the biggest consumers of seaweed. As migrants from these countries have reached the shores of western nation, the demand for seaweed in Australia, US, Canada, and Europe is at an all-time high.
- 90% of the current food demand for seaweed is met by commercial farming. Growing research into the lifecycle of seaweed, its increasing yield, and new food delicacies of seaweed like salads are being popularized in new markets.
- Seaweed promises major application in wastewater treatment. Seaweed is known to remove zinc and cadmium in large quantities from water. Furthermore, these toxic metals are heavily produced during activities like fish farming. Seaweed is ideal for its natural qualities, and its low-cost production. Asian countries provide as much as 60% supply of fresh fish from farms. The low-cost production and simple operation of seaweed remain two key drivers for growth of the commercial seaweed market for wastewater treatment.
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