Commercial Seaweed Market Revenue Growth Analysis to 2027

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Commercial Seaweed Market Size to Cross 95 Bn
by 2030
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Overview of Commercial Seaweed Market

• The commercial seaweed market is slated to grow
  massively through 2027 due to robust The
  commercial seaweed market is anticipated to see
  considerable growth by 2027 owing to increasing
  product demand across various application
  avenues, such as food, biofuels, animal feed,
  pharmaceuticals, and personal care, among others.
• Seaweed is obtained from either naturally growing
  (wild) or cultivated (farmed) seaweed. Based on
  its physical attributes and pigmentation, it is
  categorized into brown, red, and green seaweed.
  For many years, seaweed has been a key ingredient
  in the traditional cuisine of Japan, China, and
  other countries in the Southeast Asia. Recently,
  the demand for seaweed has expanded across
  various industry verticals on account of its
  nutritional benefits, thereby fueling industry
  demand.
• Industry players have been actively undertaking
  several RD activities to enhance product
  outlook, which has been favorable for business
  expansion. For instance, in July 2021, AltaSea at
  the Port of Los Angeles, a California-based
  non-profit organization, inked a partnership
  agreement with the University of Southern
  California to build an extensive seaweed lab. The
  6,000-square-foot lab would house ground-breaking
  research on regenerative aquaculture as well as
  the commercial implementation of new aquafarming
  technology.

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• Additionally, industry players are strategically
  expanding their supply and logistics network and
  diversifying their product line to capitalize on
  favorable market trends. To cite an instance, in
  in July 2021, CP Kelco, a major food ingredient
  provider, joined forces with Azelis, a specialty
  chemicals distributor, to aid the expansion of
  its distribution channel. This news came after
  the company, in June 2021, announced the
  establishment of its new global innovation center
  in Georgia to facilitate innovation and
  technological advancements in efforts to upscale
  its commercial seaweed business. Thus, strategic
  collaborations and research activities by
  prominent industry participants has played a
  vital role in fostering market growth.
• The commercial seaweed market has been bifurcated
  in terms of product, form, end-user, and region.
  In terms of end-user, the market has further been
  segregated into food, animal feed, biofuels ,
  pharma, personal care, and others. The biofuels
  sub-segment is expected to expand at a CAGR of
  over 10 through the forecast period due to
  surging preference for environment-friendly
  energy sources.

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• Biofuels are produced by cultivating large
  amounts of seaweed in the ocean and then
  fermenting the biomass to produce methane gas for
  use as fuel. When compared to fossil fuels, this
  method of producing biofuel from seaweed produces
  less pollution, which is anticipated to promote
  segmental adoption in the coming years. Moreover,
  the growing need to curb climate change, coupled
  with supportive government policies and
  initiatives, would spur biofuel production, which
  is set to boost segmental growth in the future.
• The Latin America commercial seaweed market is
  expected to grow at a CAGR of around 6 over the
  assessment timeframe. The LATAM region mostly
  imports seaweed from China and other Asian
  countries for numerous industrial applications.
  However, urbanization, increasing economic
  conditions, and changing consumer lifestyles
  observed in this region would boost product
  demand in the food, pharmaceutical, and personal
  care sectors, which is slated to bolster market
  penetration across LATAM through the study
  timeframe.
• Notable participants in the Commercial Seaweed
  market include Indigrow Ltd., Seasol
  International, Seaweed Energy Solutions AS, Chase
  Organics GB Ltd., Aquatic Chemicals, Acadian
  Seaplants Ltd. (ASL), Pacific Harvest, Mara
  Seaweed, Algea AS, BIOSTADT INDIA LIMITED

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