The Commercial Seaweed Global Market Report 2023 by The Business Research Company, provides commercial seaweed market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Commercial Seaweed Global Market Report 2023, the market size is expected to grow from$17.3 billion in 2022 to $19.66 billion in 2023 at a compound annual growth rate (CAGR) of 13.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of the global commercial seaweed is expected to grow to $30.91 billion in 2027 at a CAGR of 12.0%.
The increasing consumption of plant-based products will propel the growth of the commercial seaweed market going forward. Plant-based food refers to a finished product consisting of ingredients derived from plants that include vegetables, fruits, and whole grains. Commercial seaweed is used in the manufacture of plant-based foods. These seaweeds help to increase protein content in plant-based products.
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The commercial seaweed market is segmented:
1) By Product: Brown Seaweeds, Red Seaweeds, Green Seaweeds
2) By Type: Liquid, Powdered, Flakes
3) By End User: Food and Beverages, Agricultural Products, Animal Feed Additives, Pharmaceuticals, Other End Users
Technological advancement is a key trend gaining popularity in the commercial seaweed market. Major companies operating in the commercial seaweed sector are focused on developing technological innovations to sustain their position. For instance, in May 2021, Panorama, a Germany-based organization that focuses on innovative solutions for conservation and sustainable development, launched new innovations in tubular nets, which work on “off-bottom” peg and rope technology. This helps in improving seaweed productivity and local ecological conditions. Also, these prevent the growth of the high-value Cottonii seaweed species, which helps to get good quality seaweed.
The commercial seaweed market report table of contents includes:
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Top Major Players
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