Powdered Seaweed Market to Grow 2X by 2029

The presence of various nutritional and medicinal properties in seaweed is likely to boost the overall commercial seaweed market by 2X. While seaweeds are mostly grown in coastal regions, their increasing end use is promoting the cultivation of seaweed in other regions such as Europe and North America. Regulatory authorities like WHO and FAO have approved the use of seaweed in infant formula.

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The use of seaweed in agriculture as a fertilizer is also going to bring in exponential growth in the foreseeable future. Companies are investing large sums of money in seaweed extracts for their cosmetics and personal care products range. With these projections in mind, Fact.MR says that the global commercial seaweed market is forecasted to account for an absolute dollar opportunity of ~US$ 15 Bn between 2019 and 2029.

Key Takeaways of Commercial Seaweed Market

  • APAC accounts for 70% share in global Commercial Seaweed market, and is expected to present an ongoing growth trend.
  • Europe and North America collectively are expected to grow the fastest among other regions and are anticipated to grow 1.7X in terms of value in 2019 owing to abundant government grants.
  • The use of Carrageenan from red seaweed in infant supplements is likely to create new revenue streams.
  • Red seaweed is expected to acquire more than 50% market share among other seaweed types during the forecast period.
  • Emerging economies like China, India, and Indonesia are key producers of seaweed.

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Global Commercial Seaweed Market: Segmentation

Segmentation table of the global Commercial Seaweed market has been provided below on the basis of

Product, Form, End User and Region.

By Product
  • Red
  • Green
  • Brown
By Form
  • Liquid
  • Powder

Commercial Seaweed Manufacturers Eyeing Potential Markets for Revenue Generation

Currently, the commercial seaweed market is consolidated in East Asia and South Asia, as a large number of players have originated from this region. The growing demand for seaweed is encouraging manufacturers to increase their reach and product portfolio in the global market. Europe is an emerging region as approved applications of seaweed in pharmaceuticals and food and beverage industry are increasing.

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Regional analysis includes

  • North America (U.S., Canada)
  • Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
  • EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
  • CIS & Russia
  • Japan
  • Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
  • Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa, Rest of MEA)

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