Seaweed Market Strategies, Trends, and Forecast by 2031
The seaweed market is expected to register a CAGR of 7% during 2023–2031. The rising sustainability concerns and rising interest in plant-based food options are likely to remain a key trend in the market.
Seaweed Market Analysis
- Seaweed is a type of marine algae that is both macroscopic and multicellular. It is widely used in many industries, such as cosmetics, paints, and adhesives.
- Additionally, the dyes, textiles, and paper industries use seaweed in various forms. Its extracts are widely used in the food industry, and seaweed is a great source of vitamin K, calcium, and iron, making it highly beneficial for health.
- As a growing industry, the seaweed market is divided into three types: red, brown, and green seaweed. The market is further divided into food and beverage, personal care, pharmaceuticals, nutraceuticals, and agriculture
- The green algae contain high levels of beta-carotene which has been proven to help prevent cancer.
Seaweed Market Overview
- Seaweed is widely used in many industries, such as cosmetics, paints, and adhesives.
- Based on their type, the seaweed market is broadly categorised into red, brown, and green.
- Seaweed is abundant in minerals, vitamins, antioxidants, and other essential nutrients and this is why it is recognized for its nutritional benefits that include application of seaweed in multiple diets.
- These factors have made seaweed popular among consumers who are health-conscious and are seeking natural and sustainable products that give rise to the demand and growth of the seaweed market.
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Seaweed Market: Strategic Insights
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Seaweed Market: Strategic Insights
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Seaweed Market Drivers and Opportunities
Increasing consumer awareness of seaweed's nutritional is expected to drive the growth of the seaweed market
- One key reason for growth in demand for seaweed is a general increase in consumers’ awareness about the nutritional value of seaweed, which stimulates demand in food and supplements.
- Seaweed is a natural source of essential nutrients, such as iodine, iron, calcium and vitamins A, C and E, as well as protein and fibre, while it is low in calories.
- As consumers become more quality- and health-oriented with increasing awareness of nutritional values, there is a growing preference for ‘dense’ nutritional-profile food products.
- Consumers are incorporating seaweed directly into their diets through nori sheets, seaweed snacks and salads.
- Seaweed-based supplements, especially those emphasising either iodine content or full spectrum nutrition, are increasingly achieving mainstream distribution.
Rise in the demand for plant based food
- The rise of vegetarian, vegan, and flexitarian diets is indeed boosting seaweed consumption as a plant-based protein and nutrient source.
- Ramping up production of seaweed is well aligned with the latest dietary shifts. Greater emphasis on plant-based eating has grown in recent years as a way of addressing health, environmental and ethical issues.
- Not as protein-rich as some other foods, but seaweed has the full complement of essential amino acids and is an important plant protein source for vegans and others who avoid animal products.
- Some nutrients that are difficult to get from plants are abundant in seaweed, including iodine, vitamin B12 and omega-3 fatty acids.
Seaweed Market Report Segmentation Analysis
Key segments that contributed to the derivation of the seaweed market analysis are type and application.
- Based on type, the seaweed market is segmented into red, brown, and green.
- Based on application, the seaweed market is segmented into food and beverages, personal care, agriculture, and pharmaceuticals and nutraceuticals, others.
Seaweed Market Share Analysis by Geography
- Seaweed Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
- Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering seaweed market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
- Also, the report covers Porter’s Five Forces analysis, which involves the study of major factors that influence the seaweed market in these regions.
Seaweed Market Report Scope
Seaweed Market News and Recent Developments
The seaweed market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the seaweed market are listed below:
- Jordà Food Group and The Seaweed Company Join forces in Seaweed Product Development. The Seaweed Company from the Netherlands, proudly announce their new partnership. (Source: Newsletter, Jordà Food Group, Feb 2024)
- Refeed Canada and Cascadia Seaweed in British Columbia have partnered to launch ReFeed Seaweed Extract. The natural liquid plant food is made from the extract of cultivated, cold-water kelp, which contains essential nutrients that could be used for a range of growing purposes. (Source: Newsletter, Refeed Canada, Feb 2022)
Seaweed Market Report Coverage and Deliverables
The “Seaweed Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Seaweed market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Seaweed market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Seaweed market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the seaweed market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The global seaweed market is expected to grow at a CAGR of 7% during the forecast period 2023 - 2031.
Increasing consumer awareness of seaweed's nutritional is expected to drive the growth of the seaweed market.
Rising sustainability concerns and rising interest in plant-based food options to play a significant role in the global seaweed market in the coming years.
The leading players operating in the seaweed market are Acadian SeaPlus; ALGAplus; Cargill, Incorporated; DuPont; MYCSA Ag, Inc. USA; Nuwen; Seaweed and Co.; Seaweed Solutions AS; The Hebridean Seaweed Company; The Seaweed Company.
What are the options available for the customization of this report?
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Seaweed Market - By Type
1.3.2 Seaweed Market - By Application
1.3.3 Seaweed Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SEAWEED MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. SEAWEED MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. SEAWEED MARKET - GLOBAL MARKET ANALYSIS
6.1. SEAWEED - GLOBAL MARKET OVERVIEW
6.2. SEAWEED - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SEAWEED MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. RED
7.3.1. Overview
7.3.2. Red Market Forecast and Analysis
7.4. BROWN
7.4.1. Overview
7.4.2. Brown Market Forecast and Analysis
7.5. GREEN
7.5.1. Overview
7.5.2. Green Market Forecast and Analysis
8. SEAWEED MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. FOOD AND BEVERAGES
8.3.1. Overview
8.3.2. Food and Beverages Market Forecast and Analysis
8.4. PERSONAL CARE
8.4.1. Overview
8.4.2. Personal Care Market Forecast and Analysis
8.5. AGRICULTURE
8.5.1. Overview
8.5.2. Agriculture Market Forecast and Analysis
8.6. PHARMACEUTICALS AND NUTRACEUTICALS
8.6.1. Overview
8.6.2. Pharmaceuticals and Nutraceuticals Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. SEAWEED MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Seaweed Market Overview
9.1.2 North America Seaweed Market Forecasts and Analysis
9.1.3 North America Seaweed Market Forecasts and Analysis - By Type
9.1.4 North America Seaweed Market Forecasts and Analysis - By Application
9.1.5 North America Seaweed Market Forecasts and Analysis - By Countries
9.1.5.1 United States Seaweed Market
9.1.5.1.1 United States Seaweed Market by Type
9.1.5.1.2 United States Seaweed Market by Application
9.1.5.2 Canada Seaweed Market
9.1.5.2.1 Canada Seaweed Market by Type
9.1.5.2.2 Canada Seaweed Market by Application
9.1.5.3 Mexico Seaweed Market
9.1.5.3.1 Mexico Seaweed Market by Type
9.1.5.3.2 Mexico Seaweed Market by Application
9.2. EUROPE
9.2.1 Europe Seaweed Market Overview
9.2.2 Europe Seaweed Market Forecasts and Analysis
9.2.3 Europe Seaweed Market Forecasts and Analysis - By Type
9.2.4 Europe Seaweed Market Forecasts and Analysis - By Application
9.2.5 Europe Seaweed Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Seaweed Market
9.2.5.1.1 Germany Seaweed Market by Type
9.2.5.1.2 Germany Seaweed Market by Application
9.2.5.2 France Seaweed Market
9.2.5.2.1 France Seaweed Market by Type
9.2.5.2.2 France Seaweed Market by Application
9.2.5.3 Italy Seaweed Market
9.2.5.3.1 Italy Seaweed Market by Type
9.2.5.3.2 Italy Seaweed Market by Application
9.2.5.4 United Kingdom Seaweed Market
9.2.5.4.1 United Kingdom Seaweed Market by Type
9.2.5.4.2 United Kingdom Seaweed Market by Application
9.2.5.5 Russia Seaweed Market
9.2.5.5.1 Russia Seaweed Market by Type
9.2.5.5.2 Russia Seaweed Market by Application
9.2.5.6 Rest of Europe Seaweed Market
9.2.5.6.1 Rest of Europe Seaweed Market by Type
9.2.5.6.2 Rest of Europe Seaweed Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Seaweed Market Overview
9.3.2 Asia-Pacific Seaweed Market Forecasts and Analysis
9.3.3 Asia-Pacific Seaweed Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Seaweed Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Seaweed Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Seaweed Market
9.3.5.1.1 Australia Seaweed Market by Type
9.3.5.1.2 Australia Seaweed Market by Application
9.3.5.2 China Seaweed Market
9.3.5.2.1 China Seaweed Market by Type
9.3.5.2.2 China Seaweed Market by Application
9.3.5.3 India Seaweed Market
9.3.5.3.1 India Seaweed Market by Type
9.3.5.3.2 India Seaweed Market by Application
9.3.5.4 Japan Seaweed Market
9.3.5.4.1 Japan Seaweed Market by Type
9.3.5.4.2 Japan Seaweed Market by Application
9.3.5.5 South Korea Seaweed Market
9.3.5.5.1 South Korea Seaweed Market by Type
9.3.5.5.2 South Korea Seaweed Market by Application
9.3.5.6 Rest of Asia-Pacific Seaweed Market
9.3.5.6.1 Rest of Asia-Pacific Seaweed Market by Type
9.3.5.6.2 Rest of Asia-Pacific Seaweed Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Seaweed Market Overview
9.4.2 Middle East and Africa Seaweed Market Forecasts and Analysis
9.4.3 Middle East and Africa Seaweed Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Seaweed Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Seaweed Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Seaweed Market
9.4.5.1.1 South Africa Seaweed Market by Type
9.4.5.1.2 South Africa Seaweed Market by Application
9.4.5.2 Saudi Arabia Seaweed Market
9.4.5.2.1 Saudi Arabia Seaweed Market by Type
9.4.5.2.2 Saudi Arabia Seaweed Market by Application
9.4.5.3 U.A.E Seaweed Market
9.4.5.3.1 U.A.E Seaweed Market by Type
9.4.5.3.2 U.A.E Seaweed Market by Application
9.4.5.4 Rest of Middle East and Africa Seaweed Market
9.4.5.4.1 Rest of Middle East and Africa Seaweed Market by Type
9.4.5.4.2 Rest of Middle East and Africa Seaweed Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Seaweed Market Overview
9.5.2 South and Central America Seaweed Market Forecasts and Analysis
9.5.3 South and Central America Seaweed Market Forecasts and Analysis - By Type
9.5.4 South and Central America Seaweed Market Forecasts and Analysis - By Application
9.5.5 South and Central America Seaweed Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Seaweed Market
9.5.5.1.1 Brazil Seaweed Market by Type
9.5.5.1.2 Brazil Seaweed Market by Application
9.5.5.2 Argentina Seaweed Market
9.5.5.2.1 Argentina Seaweed Market by Type
9.5.5.2.2 Argentina Seaweed Market by Application
9.5.5.3 Rest of South and Central America Seaweed Market
9.5.5.3.1 Rest of South and Central America Seaweed Market by Type
9.5.5.3.2 Rest of South and Central America Seaweed Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. SEAWEED MARKET, KEY COMPANY PROFILES
11.1. ACADIAN SEAPLUS
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. ALGAPLUS
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. CARGILL, INCORPORATED
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. DUPONT
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. MYCSA AG, INC. USA
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. NUWEN
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. SEAWEED AND CO.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. SEAWEED SOLUTIONS AS
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. THE HEBRIDEAN SEAWEED COMPANY
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. THE SEAWEED COMPANY
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies
1. Acadian SeaPlus
2. ALGAplus
3. Cargill, Incorporated
4. DuPont
5. MYCSA Ag, Inc. USA
6. Nuwen
7. Seaweed and Co.
8. Seaweed Solutions AS
9. The Hebridean Seaweed Company
10. The Seaweed Company
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
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- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
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Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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