The latest report by IMARC Group, titled “Seaweed Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on the global seaweed market share report. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global seaweed market size reached US$ 8.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 17.8 Billion by 2032, exhibiting a growth rate (CAGR) of 8.6% during 2024-2032.
Seaweed Market Overview:
Seaweed refers to numerous species of marine algae and plants that thrive in the world's oceans, seas, and even freshwater lakes and rivers. These organisms range vastly in size, from microscopic phytoplankton to giant kelp forests that can extend in length. Seaweed plays a crucial role in marine ecosystems, serving as a primary source of food and habitat for a wide variety of marine life. It also contributes significantly to the ocean's ability to absorb carbon dioxide from the atmosphere, acting as an important carbon sink. In addition to its environmental significance, seaweed has been harnessed by humans for centuries, valued for its nutritional benefits, and used in food, medicine, and industry. Rich in vitamins, minerals, and dietary fiber, seaweed is considered a superfood in many cultures, particularly in East Asian cuisines where it is a staple ingredient.
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Seaweed Market Trends:
The changing nutritional benefits including high vitamin, mineral, and protein content, along with its low-calorie profile is driving the global market. This has led to its expanded use in food products, dietary supplements, and as a plant-based alternative appealing to the growing vegetarian and vegan populations. Moreover, the sustainability aspect of seaweed cultivation plays a crucial role in driving the market. Seaweed farming is seen as environmentally friendly, requiring no land, freshwater, or fertilizer, thus minimizing the ecological footprint compared to traditional agriculture.
This sustainability factor aligns with the global push towards more eco-conscious consumption patterns, further bolstering seaweed's appeal. The cosmetic industry also contributes to the demand for seaweed, utilizing it in various skincare and beauty products for its hydrating and antioxidant properties. Additionally, the agricultural sector recognizes seaweed's potential as a natural and sustainable fertilizer option, expanding its market reach beyond food and cosmetics. Governments and private entities in many regions have begun to support seaweed cultivation through investments and research, recognizing its potential for economic development and as a component in addressing food security.
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Key Market Segmentation:
Competitive Landscape with Key Players:
Acadian Seaplants Limited
Cargill Incorporated
DuPont de Nemours, Inc.
Irish Seaweeds
Leili
Mara Seaweeds
Qingdao Gather Great Ocean Algae Industry Group (GGOG)
Breakup by Environment:
Aquaculture
Wild Harvest
Breakup by Product:
Red
Brown
Green
Breakup by Application:
Processed Foods
Direct Human Consumption
Hydrocolloids
Fertilizers
Animal Feed Additives
Others
Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
Market Performance
Market Outlook
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.
Who we are:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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