ALBANY, New York, June 5, 2019 /PRNewswire/ -- A recent report by Transparency Market Research (TMR) provides an in-depth competitive scenario of on global commercial seaweed market. According to the report, the global commercial seaweed market is expected to witness a highly fragmented competitive landscape. Majority of the prominent players of the market are focusing on expansion of the business by adopting strategies such as mergers, collaborations, partnerships. The players are also acquiring numerous small scale businesses in order to enhance their product portfolio in the forthcoming years. Moreover, the players of global commercial seaweed market are investing majorly on research and development in order to provide better range of products for various applications. The adoption of such strategies by the businesses in the market are aimed to gain a competitive edge over their competitors in the market.
Some of the major players influencing the global commercial seaweed market are Gelymar SA, Cargill Corporation, E.I. Du Pont de Nemours, Acadian Seaplants Ltd., CEAMSA and Company, and CP Kelco.
The global commercial seaweed market is expected to witness a moderate growth with a CAGR of 10.8% during the forecast period of 2017 to 2025 says TMR report. The market is project to worth US$ 26,107.9 mn by the end of forecast period.
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The global commercial seaweed market is segmented on the basis of various parameters such as product type, form, and application. Out of these parameters, the red seaweed segment is likely to expect highest growth in the global commercial seaweed market. This growth is attributed to the fact that red seaweeds are an excellent source of vitamins and minerals which further have their applications in food products, personal care products, and pharmaceuticals.
The global seaweeds market has its presence in various regions such as North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Among these regions, Asia Pacific is likely to experience highest growth in the forecast period. The dominance of the regions in the market can be the result of various healthcare and personal care developments happening in countries such as China, Japan, and India.
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Benefits in Treatment of Cardiovascular Diseases to Elevate the Market Growth
The growing awareness of the medical advantages these commercial seaweed provides is one of the major factors that is influencing the growth of global commercial seaweed market. The consumption of seaweed enriches the body of consumer with minerals like folic acid, iron, copper and other essential nutritive elements. This is aggravating the demand of commercial seaweed among people recently. This in turn is again aiding in the growth of global commercial seaweed market.
The application of seaweeds in preparing animal feed and compost is also one of the most essential factors that is promoting the growth of global commercial seaweed market.
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The Growth May Get Hampered as a Result of High Cost
As a result of growing pollution of various water bodies and increased dumping of plastics, synthetic compounds, and other poisonous waste materials in the seas and ocean, has hampered the growth of seaweeds. This further results in challenges in mining seaweeds from the sea beds which eventually rises the cost of seaweeds in the market. This high cost may hamper the growth of the market to an extent in the forecast period. However, as the result of various government initiatives and rising demand for commercial seaweed in various fields shall influence the market player to surpass all the challenges of the market. This could allow the global commercial seaweed market to grow at steady pace during the forecast period.
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The study presented here is based on a report by Transparency Market Research (TMR), titled, "Commercial Seaweed Market (Product - Red Seaweed, Brown Seaweed and Green Seaweed; Form - Liquid, Powdered, and Flakes; Application - Fertilizer, Animal Feed, Food, Cosmetics, and Pharmaceuticals) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025."
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