According to the latest report by IMARC Group, titled “Seaweed Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global seaweed market reached a production value of US$ 11.5 Billion in 2020. Looking forward, IMARC Group expects the global seaweed market to exhibit strong growth during 2021-2026. Seaweeds refer to various species of multicellular, macroscopic, and marine algae that grow in lakes, oceans, seas, rivers, and other water bodies. They are either procured from aquaculture or wild harvest. Based on the high amount of vitamins and minerals in seaweeds, several hydrocolloids such as alginate, agar, gelatinous substances, and carrageenan can be obtained from them. Seaweeds also helps in weight management and enhancing the flavor of various cuisines. Owing to these functional and health benefits, seaweeds find widespread applications in food & beverages, wastewater treatment, pharma products, bio-refining, and dietary supplements.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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The increasing consumption of seaweed in dietary supplements is primarily driving the market growth. Furthermore, seaweeds are rich in bioactive compounds and have antimicrobial and antioxidants properties, which make them suitable for medical purposes in the pharmaceutical sector. Additionally, the growing applications of seaweed as a thickening agent in the textile industry, as well as for improving yield, enhancing soil quality and crop protection in the agriculture industry, have also augmented the product demand. Furthermore, the increasing investments in numerous R&D activities, coupled with the rising consumer awareness towards diversified applications of seaweed, are anticipated to catalyze the global seaweed market in the coming years.
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Key Market Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Acadian Seaplants Limited
- Cargill Incorporated
- DuPont de Nemours, Inc.
- Irish Seaweeds
- Mara Seaweeds
- Qingdao Gather Great Ocean Algae Industry Group (GGOG)
Breakup by Environment:
- Wild Harvest
Breakup by Product:
Breakup by Application:
- Processed Foods
- Direct Human Consumption
- Animal Feed Additives
Breakup by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Key highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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