The global commercial seaweed market is estimated to be valued at US$ 10.66 billion in 2024 and is expected to exhibit a CAGR of 2.5% over the forecast period 2024 to 2031.

 Seaweed is commonly found in coastal areas and consists of various macroscopic, multicellular, brackish water algae. It is typically harvested for food and various industrial uses due to the presence of minerals, vitamins, antioxidants, and other bioactive compounds. Commercial seaweed finds widespread application in food and beverage, agriculture, animal feed, pharmaceuticals, and personal care industries. The growing demand for plant-based and vegan foods is a key factor propelling the demand for commercial seaweed across the globe.

Key Takeaways

Key players operating in the commercial seaweed market are E.I. Du Pont de Nemours and Company, Travena Organic Solutions Ltd., Cargill Inc., Roullier Group, Leili Group, Biostadt India Limited, Compo GmbH Co. KG, Acadian Seaplants Limited, Gelymar SA, BrandT Consolidated, Inc., Seasol International Pty. Ltd., CP Kelco., West Coast Marine Bio-Processing Corp., Chase Organics GB Limited, Indigrow Ltd., Acadian Seaplants, Algaia SA, and The Seaweed Company. These players are actively involved in research and development activities to introduce new product varieties and improve production capacities.

The expanding application scope of seaweed across food, personal care, agriculture and other industries is driving significant market opportunities. Additionally, growing consumer awareness about the nutritional benefits of seaweed is prompting manufacturers to incorporate it in new food products to cater to evolving consumer preferences. Major players are focusing on global expansion through acquisitions and partnerships to strengthen their geographic footprint and product portfolios.

The rising consumer Commercial Seaweed Market Demand for plant-based foods represents a key driver for the commercial seaweed market. Seaweed is emerging as a popular substitute for meat and dairy products due to the presence of proteins, vitamins and other nutrients. Additionally, the ability of seaweed to add texture and act as a thickening agent is augmenting its use in vegan sauces, dressings, and analogs.

Fluctuating seaweed harvest owing to unfavorable weather conditions and overexploitation of seaweed beds acts as a major market restrain. Adverse weather events such as hurricanes and cyclones can damage seaweed crops and disrupt supply chains. Additionally, lack of regulatory standards pertaining to sustainable seaweed harvesting practices can negatively impact wild seaweed stocks over time.

Segment Analysis

The Commercial Seaweed Market Regional Analysis is dominated by the red seaweed segment. Red seaweeds are highly nutritious and have a wide range of uses such as food additives, texturizers, stabilizers and thickeners. They are rich sources of minerals, vitamins and antioxidants. The red seaweed segment dominates due to the growing demand for carrageenan extracts from red seaweeds across various industries like food, personal care and pharmaceuticals. Carrageenans have emerged as a popular thickening, stabilizing and gelling agent.

Global Analysis

The Asia Pacific region is the fastest growing as well as the dominating region in the global commercial seaweed market. Countries like China, Indonesia, Philippines and Japan are the major producers of seaweeds in the world. The Asia Pacific region accounts for over 60% of the total seaweed production globally. The growth in the region is driven by the extensive cultivation and harvesting of seaweeds coupled with a rising awareness about the nutritional benefits of seaweeds.
North America is another major region and is expected to witness significant growth during the forecast period. This is attributed to increasing investments by players for seaweed farming and processing in the region. Canada and the U.S. are among the top importers of commercial seaweeds.

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