Seaweed Cultivation Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
Seaweed cultivation refers to the process of growing algae and other marine based species. In order to grow, seaweed farms consume nutrients and carbon dioxide. Such farms can contribute to bettering water quality and mitigating the consequences of ocean acidification in the neighbourhood.

Sizing and Forecast
The seaweed cultivation market size has grown rapidly in recent years. It will grow from $20.02 billion in 2023 to $22.62 billion in 2024 at a compound annual growth rate (CAGR) of 13.0%. The growth in the historic period can be attributed to rising demand for healthy food, nutritional value, environmental sustainability, cultural consumption.

The seaweed cultivation market size is expected to see rapid growth in the next few years. It will grow to $36.25 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. The growth in the forecast period can be attributed to expanding applications, climate change awareness, global culinary trends, government support. Major trends in the forecast period include diversification of products, technological advancements, increased collaboration, rising popularity of seaweed farming, innovative marketing strategies.

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Segmentation & Regional Insights
The seaweed cultivation market covered in this report is segmented –

1) By Type: Red Seaweeds, Brown Seaweeds, Green Seaweeds
2) By Form: Seaweed Flakes, Seaweed Powder, Liquid Seaweed, Seaweed Sheets
3) By Method Of Harvesting: Aquaculture, Wild Harvesting
4) By Application: Animal Feed Industry, Agriculture, Pharmaceuticals, Other Application

Asia-Pacific was the largest region in the seaweed cultivation market in 2023. The regions covered in the seaweed cultivation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The rise in seaweed farming practices is expected to propel the growth of the seaweed cultivation market going forward. Seaweed farming refers to a cost-effective method of harvesting that, when paired with ease of handling and technical developments, is encouraging individuals to think about it as a career option worldwide. Seaweed cultivation helps seaweed farming practices by raising the standard of living for coastal residents and encouraging the use of marine and coastal resources in their daily lives. For instance, in February 2022, according to a report published by the U.S. Department of Agriculture (USDA), a US-based government agency, the total fish production is projected to be approximately 2.2 million metric tons (MMT) in 2021, with aquaculture contributing 1.7 MMT to the overall production. Moreover, Egypt has set forth an ambitious strategy to elevate fish production to 3 MMT by the year 2025 with an expected surge of 650,000 metric ton in the demand for fish feed. Therefore, the rise in seaweed farming practices is driving the growth of the seaweed cultivation market.

Key Industry Players
Major companies operating in the seaweed cultivation market report are Acadian Seaplants Limited, Cargill Incorporated, E. I. du Pont de Nemours and Company, Irish Seaweeds, Beijing Leili Marine Bioindustry Inc., Roullier Group, Seasol International Pty Ltd, CP Kelco US Inc., Gelymar SA, Qingdao Gather Great Ocean Algae Industry Group Co. Ltd., Ocean Harvest Technology Limited, Mara Seaweed, Algaia S. A., Compo Expert GmbH, Seasol International, CEAMSA, Atseanova, Ocean Rainforest, Seaweed Energy Solutions AS, Blue Ocean Mariculture, Ocean Approved LLC, Maine Fresh Sea Farms, Atlantic Sea Farms, Cascadia Seaweed, GreenWave, Oceanium, Sea6 Energy, Sea Forest, The Cornish Seaweed Company, The Scottish Seaweed Company

The seaweed cultivation market report table of contents includes:

1. Executive Summary

2. Seaweed Cultivation Market Characteristics

3. Seaweed Cultivation Market Trends And Strategies

4. Seaweed Cultivation Market – Macro Economic Scenario

5. Global Seaweed Cultivation Market Size and Growth
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31. Global Seaweed Cultivation Market Competitive Benchmarking

32. Global Seaweed Cultivation Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Seaweed Cultivation Market

34. Seaweed Cultivation Market Future Outlook and Potential Analysis

35. Appendix

Top Major Players: