The global seaweeds market is expected to be valued at USD 7.79 billion in 2023. The seaweeds market size is projected to reach USD 19.66 billion by 2033, registering a CAGR of 9.7% during 2023 to 2033.
The seaweeds market has seen significant growth in recent years owing to its increasing demand in various industries such as food, animal feed, and pharmaceuticals. Seaweed is a type of macroalgae, which is a group of large and multicellular seaweed species that are typically found in shallow coasted waters. There are various types of seaweeds, including red seaweed, brown seaweed, white seaweed, and green seaweed, each with its own unique set of characteristics and uses.
One of the key drivers of the market is the growing demand for seaweed-based food products. Seaweeds have been used for centuries as a food source in Asia, but their popularity is now spreading to other parts of the world. Edible seaweed is a rich source of vitamins, minerals, and other nutrients, and it is also low in calories, making it an attractive alternative to traditional sources of protein and nutrition.
The increasing demand for healthy and sustainable food options has driven the growth of the seaweed food market. New and inventive seaweed-based food products are being introduced to the market. Products such as seaweed chips, seaweed snacks, and seaweed-based drinks are becoming increasingly popular as consumers seek out new and healthy food options. The popularity of seaweed-based food products is also being driven by the growing awareness of the health benefits of seaweed, as well as its sustainability as a food source.
Another key driver of the market is the increasing use of seaweed as an animal feed ingredient. Seaweed is a rich source of protein, fiber, and other essential nutrients that are important for animal health and growth. The use of seaweed as an animal feed ingredient has gained popularity owing to its potential to improve the quality of animal-based food products. This, in turn, reduces the environmental impact of animal agriculture.
The market is also being driven by the increasing demand for commercial seaweed, which is used as an ingredient in a range of products, including cosmetics, pharmaceuticals, and industrial products. Seaweed is rich in polysaccharides, polyphenols, and other bioactive compounds that have a wide range of health benefits, making it an attractive ingredient for use in a range of products. Macro algae, such as kelp, sugar kelp, and grape seaweed, are the popular types of seaweed used in commercial applications.
| Attributes | Details |
|---|---|
| Seaweeds Market Value (2023) | USD 7.79 billion |
| Seaweeds Market Expected Value (2033) | USD 19.66 billion |
| Seaweeds Market Projected CAGR (2023 to 2033) | 9.7% |
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The seaweeds market was worth USD 4.07 billion in 2016 and USD 7.10 billion in 2022. The market has experienced significant growth during this period owing to the increasing demand for nutritious and sustainable food sources. As consumers become more health-conscious and environmentally aware, seaweed has become a popular alternative to traditional crops. This has resulted in an expansion of seaweed farming and the development of new seaweed-based products.
The market is expected to be worth USD 7.79 billion in 2023, based on FMI's study of global demand for seaweeds. In light of this, it is reasonable to assume that the market may encounter a wide range of opportunities over the forecast period considering the sector's expansion.
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These factors are anticipated to support a 2.5X increase in the seaweeds market between 2023 and 2033. According to FMI analysts, the market is projected to be worth USD 19.66 billion by 2033.
Individuals across the globe have grown more conscious of environmental concerns in recent years, which has sparked the creation of remedies to lessen environmental pressures. Consumer tastes have changed significantly as a result of the increased public comprehension of environmental sustainability, fueling the demand for sustainable products.
An important trend in the market is the increasing use of dry seaweed as a food ingredient. Dried seaweed is a versatile ingredient that can be used in a range of dishes, including soups, stews, and stir-fried. It is also a convenient and easy-to-use ingredient, as it does not require any preparation and can be stored for a longer period.
With the growing notion that plant-based items are safer & healthier than those derived from animals, these items are becoming prevalent in a variety of industries, including the food and cosmetics sectors. The characteristics of seaweed make it a popular ingredient in skincare products. This has led to the development of new seaweed-based skincare products, such as seaweed masks and seaweed creams. These are becoming increasingly popular among consumers who are looking for natural and sustainable skincare solutions.
The prominence of veganism and plant-based products that promote the welfare of animals is another trend contributing to the increased demand for the development of macro algae. As a rich protein source, seaweeds are increasingly used to create plant-based protein substitutes, which is causing this sector to rise. This has led to the development of new seaweed-based products, such as seaweed snacks, seaweed pasta, and seaweed supplements, which as becoming increasingly popular among health-conscious consumers.
Opportunities in the market include the development of new seaweed-based products, such as seaweed-based meat substitutes and the expansion of the market into new regions. The market is still largely concentrated in the Asia Pacific, but there is potential for growth in other regions, such as North America and Europe. Consumers in these regions have become more aware of the benefits of seaweed and the availability of seaweed-based products.
Seaweed is being researched for its potential to be used as a feedstock for bioplastics, as it grows quickly and can be produced in large quantities using sustainable methods. Seaweed is also being researched for its potential use in the biotechnology and pharmaceutical industries. Seaweed extracts have been shown to have antiviral, antibacterial, and anti-inflammatory properties, making them promising ingredients in the development of new drugs and treatments.
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Depending on the type, the red seaweed segment is currently the dominant segment of the global market. By 2033, the red seaweed segment is predicted to expand at a 10.1% CAGR and reach USD 17.63 billion. Red seaweed, such as Nori, dulse, and laver, contains high levels of vitamins and minerals as well as antioxidants and anti-inflammatory compounds. It is also a good source of protein and dietary fiber. Furthermore, red seaweed has a wide range of applications, including the food, pharmaceutical, and cosmetic industries, due to its functional properties and versatility.
Red seaweed has a distinctive taste and texture that makes it a popular ingredient. It is widely used in the food industry as a seasoning for soups and salads, making it widely accessible and familiar to consumers. The growth in the popularity of sushi, where red seaweed is used as a wrapping material, has also played a role in driving demand for this segment. These factors, combined with increasing consumer awareness of the health benefits of red seaweed, have contributed to its dominance in the market.
Based on form, the market is dominated by the powder segment. The dominance of powdered seaweed in the market can be attributed to several factors. Firstly, it is a versatile ingredient that can be easily incorporated into different food and beverage products, providing a nutritious boost. Secondly, the powder form offers greater convenience and easier storage compared to other forms. Additionally, powdered seaweed also allows for more efficient and cost-effective transportation and distribution.
The increasing demand for plant-based and sustainable food products, in addition to the recognition of seaweed as a superfood, has led to a rise in the popularity of seaweed powder. Furthermore, seaweed powder is increasingly in demand from the cosmetics sector. These factors have collectively contributed to the dominance of powdered seaweed in the market.
The Asia Pacific region dominates the seaweeds market. The market is driven by the growing demand for seaweed as a health food and its increasing use in food and beverage products, cosmetics, and pharmaceuticals. The region, particularly in China, South Korea, and Japan, is a key producer and consumer of seaweed. The market is expected to continue its growth trajectory during the forecast period.
| Country | Responsible Aspects |
|---|---|
| China | The China seaweeds market is a diverse and rapidly growing industry, with a wide range of products being produced and consumed. Seaweed is a highly nutritious and versatile food source and has been used in Chinese cuisine for thousands of years. In recent years, seaweed has seen a resurgence in popularity in China, as consumers look for healthier and more sustainable food options. In China, the eCommerce industry is proliferating at a rapid pace. Online sales of seaweed and seaweed-based products have seen rapid growth in recent years, and many new startups and established companies are leveraging this trend to reach new customers and expand their reach. With more people shopping online and seeking out new and innovative food products, the market in China is poised for continued growth during the forecast period. Therefore, the market in China is expected to grow at a CAGR of 13.3% from 2023 to 2033, reaching a projected value of USD 4.87 billion. |
| South Korea | South Korea is one of the leading consumers of seaweed in the world, with a vibrant market for different types of seaweed products such as kelp and wakame. The country’s love for seaweed can be traced back to its cultural and culinary heritage, where seaweed has been used as a staple ingredient in traditional dishes for centuries. In recent years, the demand for seaweed has grown due to increasing health awareness and its various health benefits, such as its high nutrient content and low-calorie content. The South Korea seaweeds market has diversified to include products like seaweed snacks, seaweed-based condiments, and even cosmetics containing seaweed extracts. The government has also been supportive of the industry, recognizing the potential for seaweed farming to contribute to the country’s economy. |
| Japan | Japan is a key player in the seaweed industry, with a long history of seaweed consumption and cultivation. Seaweed is a staple ingredient in traditional Japanese cuisine and is used in dishes such as sushi, miso soup, and salads. Popular Japanese seaweed includes nori, wakame, kombu, and hijiki. In Japan, seaweed farming is a significant industry, with many small-scale farmers as well as large companies engaged in seaweed cultivation. The government has been promoting the development of the seaweed industry as part of its effort to diversify its agriculture sector and tap into the growing global demand for seaweed. The Japan seaweeds market is expected to flourish at a CAGR of 7.3% during the forecast period. |
The North America seaweed market, particularly in the United States, is growing due to the increasing awareness of the health benefits of seaweed and its use as a vegetarian alternative to meat. The United States is a key market for seaweed products, including edible seaweed, seaweed supplements, and seaweed-based skincare products. The growth of the industry is supported by government initiatives, research and development activities, and investment in the seaweed sector. Also, the country is currently witnessing the increasing popularity of plant-based diets and the growing interest in functional foods. The United States seaweeds market is expected to see significant growth in the coming years as consumers continue to look for healthy and sustainable food options.
The seaweed market in Europe, particularly in the United Kingdom and Germany, has been growing lately due to increasing demand for sustainable and healthy food options. The United Kingdom seaweeds market is driven by consumer interest in plant-based diets and the health benefits of seaweed. Consumers in the country are looking for more sustainable and eco-friendly food options, which has led to an increase in seaweed-based products.
In Germany, the market is growing due to increased consumer awareness of the health benefits of seaweed. The country is known for its strong emphasis on natural and organic food products, making it an ideal market for seaweed products. Consumers are also more environmentally conscious and seek products with sustainable and eco-friendly production methods. Therefore, the Germany seaweeds market is projected to showcase a CAGR of 7.7% during the forecast period.
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Seaweed has become a popular ingredient in many products, such as food, cosmetics, and animal feed. As a result, many manufacturers and start-ups are investing in the seaweeds market. Few of them are focused on cultivating and processing seaweed, while others are creating innovative products that utilize its unique properties. This has led to numerous seaweed-based products being introduced to the market, from snacks to skincare products. Large manufacturers are also investing in seaweed-based products to cater to the growing demand for plant-based alternatives.
Ocean Hunger Foods – This start-up company produces plant-based seafood alternatives made from seaweed and other ingredients.
Sea-Trek – This Company produces seaweed-based food products and dietary supplements, with a focus on health and wellness.
Loliware – It produces edible and biodegradable straws made from seaweed, as an alternative to traditional plastic straws.
Cargill Inc. – It is a global company that has shown interest in the seaweed industry in recent years. Cargill has invested in companies that specialize in seaweed production and processing, such as the Irish seaweed company Carrageenan, which produces seaweed-based ingredients for the food and beverage industry. The company is also looking into using seaweed as a feed ingredient for farmed fish and livestock. In addition, Cargill is exploring the potential of seaweed as a biofuel and as a raw material for bioplastics.
Pacific Harvest – It is a New Zealand-based company that specializes in the production and distribution of seaweed products. It offers a range of seaweed-based products, including dried seaweed, seaweed seasonings, and seaweed supplements, which are marketed as being sustainable and nutritious.
Corbion – Corbion is a global leader in lactic acid and lactic acid derivatives, and the company has been expanding its presence in the seaweed market in recent years. Corbion is working to develop new products based on seaweed ingredients that can provide functional and nutritional benefits.
The worldwide demand for seaweeds could be USD 7.79 billion in 2023.
The global sales are forecasted to rise at a 9.7% CAGR through 2033.
The total valuation of the market is expected to close up at USD 19.66 billion by 2033.
Rising environmental concerns have sparked an interest in seaweeds in new regions.
The sales of seaweeds in Asia Pacific are poised to remain higher.
1. Executive Summary | Seaweeds Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Red Seaweed 5.2. Brown Seaweed 5.3. Green Seaweed 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Form 6.1. Flakes 6.2. Powder 6.3. Liquid 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-uses 7.1. Food & Beverages 7.2. Agricultural Fertilizers 7.3. Animal Feed Additives 7.4. Pharmaceuticals 7.5. Cosmetics & Personal Care 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Cargill 16.2. Chase Organics 16.3. Annie Chuns Inc. 16.4. DowDuPont Inc. 16.5. Mara Seaweed 16.6. Irish Seaweeds 16.7. Groupe Roullier 16.8. GimMe Health Foods LLC 16.9. Cascadia Seaweed Corp. 16.10. Nantong Xinlang Seaweed & Foods Co., Ltd. 17. Assumptions & Acronyms Used 18. Research Methodology
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