Dec 06, 2021, 04:35 ET
SAN FRANCISCO, Dec. 6, 2021 /PRNewswire/ -- The global commercial seaweed market size is expected to reach USD 37.8 billion by 2028, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 10.8% from 2021 to 2028. Growing awareness concerning the product's health benefits along with rising consumption of snacks and food products derived from sea vegetables is anticipated to augment the demand for commercial sea vegetables in food applications.
Key Insights & Findings from the report:
- The agriculture segment accounted for a market share of 8.5% in terms of revenue in 2019. Sea vegetables help in conditioning the soil by controlling the displacement of the upper layer of the soil
- The human consumption application segment is anticipated to witness a CAGR of 9.3% from 2020 to 2027 and is projected to reach USD 9.2 million in 2027 owing to its wide range of applications in human consumption
- In the Asia Pacific, the market is estimated to witness a CAGR of 9.3% from 2020 to 2027 owing to the increasing consumption of organic foods in the region
- In North America, the market is anticipated to witness a CAGR of 8.8% over the forecast period owing to growth in the harvesting of sea vegetables in the region
- Some of the key manufacturers operating in the commercial seaweeds market are Roullier Group; Cargill, Incorporated; Biostadt India Ltd; E.I. DuPont Nemours and Company; and Compo GmbH and Co.
Read 145 page market research report, "Commercial Seaweed Market Size, Share & Trends Analysis Report By Product (Brown Seaweeds, Red Seaweeds, Green Seaweeds), By Form, By Application, By Region, And Segment Forecasts, 2021 - 2028", by Grand View Research
Rising health awareness among consumers is one of the major factors driving the growth of the market. Some of the key attributes of commercial sea vegetables are that they are one of the major sources of minerals and vitamins in the human body, once consumed. In addition, seaweeds regulate the estradiol and estrogen levels in the body.
Brown seaweeds are one of the major sources of iodine, which is rare in other food items or ingredients. In addition, it is highly important to regulate the estradiol and estrogen levels in the human body. The use of seaweed and its isolates enhances satiety further reducing the postprandial absorption rates of glucose and lipids for human feeding studies that help in the development of anti-obesity foods. Seaweed also forms an important ingredient for the development of new food products.
The huge volume of cultivation associated with sea vegetables along with the low cost of production is a major factor driving the commercial seaweeds market. Low costs and commercial viability is allowing farmers to opt for seaweed production, thereby driving the market.
Mercury is one of the most common minerals found in oceans and in ocean fishes. It is present in high quantities in sea vegetables as compared to the amount of mercury consumed by humans in their regular diets. It can result in numerous health issues including anxiety, muscle weakness, skin rashes, numbness in the hands and feet, memory problems, trouble in speaking, hearing, or seeing which is expected to restrain the market growth.
Grand View Research has segmented the global commercial seaweeds market on the basis of product, form, application, and region:
- Commercial Seaweed Product Outlook (Revenue, USD Million, 2017 - 2028)
- Brown seaweeds
- Red seaweeds
- Green seaweeds
- Commercial Seaweed Application Outlook (Revenue, USD Million, 2017 - 2028)
- Animal Feed
- Human Consumption
- Commercial Seaweed Form Outlook (Revenue, USD Million, 2017 - 2028)
- Commercial Seaweed Regional Outlook (Revenue, USD Million, 2017 - 2028)
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
- South Africa
List of Key Players of Commercial Seaweed Market
- Cargill Inc.
- E.I. Du Pont de Nemours and Company
- Roullier Group
- Biostadt India Limited
- Compo GmbH & Co. KG
- Acadian Seaplants Limited
- Gelymar SA
- BrandT Consolidated, Inc.
- Seasol International Pty. Ltd.
- CP Kelco.
- West Coast Marine Bio-Processing Corp.
- Leili Group
- Chase Organics GB Limited
- Indigrow Ltd.
- Travena Organic Solutions Ltd.
Check out more studies related to applications of seaweed, conducted by Grand View Research:
- Seaweed Snacks Market – The global seaweed snacks market size was valued at USD 1.48 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 10.8% from 2020 to 2027. The growing demand for better-for-you food items among consumers has been driving the market growth.
- U.S. Seaweed Fertilizers Market – The U.S. seaweed fertilizers market size was valued at USD 6.86 million in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 5.1% from 2020 to 2027. Seaweed fertilizers are gaining prominence over the past few years as they are considered highly efficient sources of mineral ingredients.
- Biostimulants Market – The global biostimulants market size was estimated at USD 1.74 billion in 2016, projected to expand at a CAGR of 10.2% from 2017 to 2025. Rising focus on enhancing productivity, coupled with rapid soil degradation, is likely to drive the market over the forecast period.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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