Increasing demand for seaweed in the food industry is expected to drive the global seaweed cultivation market in the forecast period, 2023-2027. According to the TechSci Research report, “Seaweed Cultivation Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global seaweed cultivation market is anticipated to grow at an impressive rate in the forecast period, 2023-2027. This can be ascribed to the rising demand for seaweed cultivation practices and increasing demand for seaweed in the food industry such as snacks and plant-based protein is expected to bolster the market growth in the forecast period.
The Important Aspects of the Seaweed Cultivation Market
increasing demand for industrial application, agricultural, global, and feed-related application, growing demand for improvement of the socioeconomic status of small-scale fishers, and growing awareness among the masses is expected to propel the market growth. Increasing demand for technological advancement to enhance seaweed production is one of the major factors which are expected to facilitate the seaweed cultivation market in the forecast period.
However, the extensive use of seaweed products can be harmful to the health of humans because of toxic elements like heavy metal residues which will further hamper the seaweed cultivation market.
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The global seaweed cultivation market is segmented into type, method of harvesting, form, application, and region.
Based on type, the market can be segmented into red seaweeds, brown seaweeds, and green seaweeds. Red seaweed is expected to dominate the market for the forecast period because of the increasing demand for health consciousness, increasing demand for food application of red seaweeds, and increasing demand for agar and carrageenan hydrocolloids in different industries.
Based on forms, the global seaweed cultivation market can be segmented into liquid, powder, and flakes. The powder form is predicted to dominate the market in 2020 and maintain its dominance throughout the forecast period. This is attributed to the increasing demand for seaweed powder from the food and cosmetic industries and has some important benefits such as high shelf life and easy to transport and storage which is expected to boost the market growth in the forecast period.
Based on application, the global seaweed cultivation market can be segmented into food & feed, agriculture, pharmaceutical, and others. The food and feed segments are expected to dominate the market in 2020 and maintain their dominance throughout the forecast period. This is attributed to the increasing demand for organic foods products, the increase in consumption of plant proteins and vegan products, and the increase in the utilization of seaweed for human consumption which is propelling the market growth.
Major companies operating in the global seaweed cultivation market are:
- Qingdao Seawin Biotech Group Co. Ltd.
- Cargill, Incorporated
- CP Kelco U.S., Inc.
- Groupe Roullier (TIMAC Agro International)
- E.I. Du Pont de Nemours and Company
- Biostadt India Limited
- Compo GmbH & Co. KG
- Acadian Seaplants Limited
- Gelymar SA
- BrandT Consolidated, Inc.
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“The North American region is expected to register the highest growth in the global seaweed cultivation market on account due to the presence of different local and regional players, increasing initiatives by government organizations, and rising awareness about using seaweed cultivation in several industries. Furthermore, increasing demand for organic food products, growing application of commercial sea vegetables especially in food, increasing availability of raw materials, is further expected to support the market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Global Seaweed Cultivation Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented By Type (Red Seaweeds, Brown Seaweeds, Green Seaweeds), By Method of Harvesting (Aquaculture/Industrial v/s Wild Harvesting/Traditional), By Form (Liquid, Powder, Flakes), By Application (Food & Feed, Agriculture, Pharmaceutical, Others) and By Region”, has evaluated the future growth potential of global seaweed cultivation market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global seaweed cultivation market.
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