Seaweed Market Growth, Size, Share, Trends, Key Players Analysis, 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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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 Regional Insights

The regional trends and factors influencing the Seaweed Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Seaweed Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Seaweed Market Report Scope

Seaweed Market Players Density: Understanding Its Impact on Business Dynamics

The Seaweed Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Seaweed Market are:

1. Acadian SeaPlus
2. ALGAplus
3. Cargill Incorporated
4. DuPont
5. MYCSA Ag, Inc. USA
6. Nuwen

Disclaimer: The companies listed above are not ranked in any particular order.

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