The extensive use of seaweed as a particle suspension and emulsifying agent, thickening, stabilizer, and protein stabilizer in dairy products, salad dressings, ice cream, chocolate milk, and other processed food items will propel the commercial seaweed industry forward.
The seaweed sector offers a diverse range of products with a total annual value of USD 5.5-6 billion. Food for human consumption accounts for around USD5 billion of this total. Hydrocolloids, which are extracted from seaweeds, account for a substantial portion of the remaining billion dollars, with smaller, unrelated uses like fertilizers and animal feed additives accounting for the rest. Every year, the sector consumes 7.5-8 million tons of wet seaweed. Demand for seaweed has outstripped supply from natural resources, prompting a rapid expansion of seaweed farming. Commercial harvesting takes place in around 35 nations across the Northern and Southern Hemispheres, in waters ranging from cold to temperate to tropical.
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There is a strong demand for effective fertilizers to boost production and food security since sustainable agriculture techniques are being hampered by a massive reduction in soil fertility. As a result, during the estimation period, the commercial seaweed market will expand.
According to the current analysis of Reports and Data, the global Commercial Seaweeds market was valued at USD 16.19 Billion in 2020 and is expected to reach USD 29.39 Billion by 2028, at a CAGR of 7.6%. The market for commercial seaweeds is expanding by leaps and bounds, especially in some regional segments. Their high nutritional value and continuously growing sustainable harvest practices are making them popular in the food and other industries. Partnerships and product portfolio expansion are frequently witnessed in this industry as this enables in attracting huge consumer segments. The market is a hub of research and innovation till date, with a current focus on animal livestock and cosmetic sector products. Since the origin is completely organic, the product is being accepted more by the consumers, and is expected to witness impressive growth in the coming years.
Insufficient financial funding and untapped potential in the marine sector are restricting the market to grow to its full potential. However, increasing sustainability norms are expected to propel growth and push the demand forward.
Key players include
Cargill Inc., E.I. Du Pontde Nemours and Company, Roullier Group, Biostadt India Ltd., Compo GmbH & Co., Dalian Kowa Foods, Acadian Seaplants Pvt. Ltd., CP Kelco, Bunge Ltd., Seaweed & Co.
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For the purpose of this study, Reports and Data have segmented the Commercial Seaweeds market on the basis of type, method of harvesting, form, application, and region:
Type (Revenue, USD Million; 2018–2028)
Method of Harvesting (Revenue, USD Million; 2018–2028)
Form (Revenue, USD Million; 2018–2028)
Application (Revenue, USD Million; 2018–2028)
Regional Outlook (Revenue in USD Million; 2018–2028)
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Further key findings from the report suggest-
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