How Has The Computer Vision in Commercial Seaweed Market Size Evolved In Recent Years?
The commercial seaweed market has seen considerable growth due to a variety of factors.
• Over the past few years, the size of the commercial seaweed market has seen a swift expansion. Its value is projected to rise from $21.88 billion in 2024 to $24.65 billion in 2025, marking a compound annual growth rate (CAGR) of 12.7%.
The historical period's growth can be credited to factors such as a surge in demand from the food sector, an uptick in cosmetic and personal care applications, biofuel manufacturing, a thriving textile industry, and the production of carrageenan.
What Is the Forecasted Market Size and Growth Rate for The Commercial Seaweed Market?
The commercial seaweed market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of commercial seaweed is projected to experience a significant expansion in the coming years. The market is predicted to reach $38.94 billion by 2029, with a compound annual growth rate (CAGR) of 12.1%.
This surge during the forecast timeframe can be credited to factors such as sustainable agriculture methodologies, the use of seaweed as functional food ingredients, climate change resilience, the enlargement of seaweed farms, advancements in mariculture practices, and government support. Key trends that will mark the forecast period encompass the use of seaweed-based biostimulants, innovative seaweed-based food products, seaweed-based packaging materials, alliances for sourcing seaweed sustainably, and carbon sequestration.
What Are The Leading Drivers Of Growth In The Commercial Seaweed Market?
The commercial seaweed market's expansion is primarily driven by the surge in the consumption of plant-based goods. Plant-based food is a product composed of components sourced from vegetables, fruits, and whole grains. Plant-based products often use commercial seaweed in their production, which boosts the protein content. As per the Good Food Institute, a non-profit organization in the U.S, the U.S retail market for plant-based foods hit $8 billion in 2022, marking a 7% rise in dollar sales from the previous year. As a result, the escalating consumer demand for plant-based items propels the growth of the commercial seaweed market.
What Are The Main Segments Of The Global Commercial Seaweed Market?
The commercial seaweed market covered in this report is segmented –
1) By Product: Brown Seaweeds, Red Seaweeds, Green Seaweeds
2) By Type: Liquid, Powdered, Flakes
3) By End User: Food And Beverages, Agricultural Products, Animal Feed Additives, Pharmaceuticals, Other End Users
Subsegments:
1) By Brown Seaweeds: Kelp, Wakame, Dulse
2) By Red Seaweeds: Nori, Carrageenan Extracts, Agar
3) By Green Seaweeds: Spirulina, Chlorella, Sea Lettuce
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What Emerging Trends Are Influencing The Growth Of The Commercial Seaweed Market?
Key players in the commercial seaweed market are intensifying efforts to roll out innovative solutions like seaweed farming techniques to boost production efficiency and sustainability. These techniques encompass a variety of methods designed for cultivating seaweed in controlled circumstances, encompassing off-shore or near-shore facilities, utilizing floating structures, nets, or lines to maximize growth conditions and yield. For instance, in February 2023, North Sea Farmers (NSF), a non-profit organization based in the UK, launched the pioneering commercial-scale seaweed farm, North Sea Farm 1. Situated between offshore wind turbines in the North Sea, this farm was set up to test the potentiality of carbon sequestration and biodiversity enhancement. This project, bankrolled by the US-based company Amazon, is aimed at generating 6,000 kg of seaweed in its initial year and investigating the environmental advantages of large-scale seaweed farming.
Who Are the Key Players in the Commercial Seaweed Market?
Major companies operating in the commercial seaweed market include:
• Cargill Inc.
• CP Kelco U.S. Inc.
• Acadian Seaplants Limited
• Gelymar SA
• Extractos Naturales Gelymar S.A.
• Seasol International
• Indigrow Ltd.
• Ocean Harvest Technology Limited
• AquAgri Processing Pvt. Ltd.
• West Coast Marine Bio-Processing Corp.
• The Seaweed Company B.V.
• Pacific Harvest
• The Irish Seaweed Company
• AtSeaNova
• Seaweed Solutions AS
• Shore Seaweed Co.
• Dalian Ocean University Seaweed Industry Group
• Algaia SA
• Rhodomaxx Sdn. Bhd.
• Qingdao Gather Great Ocean Industry Group (GGOG)
• Kelp Industries PTY. Ltd.
• Nantong Xinlang Seaweed & Foods Co. Ltd.
• Mara Seaweed Ltd.
• Leili Group
• Dycolor Seaweed Industries
• Shandong Qingdao Lihua Seaweed Industry Group Co. Ltd.
• Travena Organic Solutions Ltd.
What Is The Most Dominant Region In The Commercial Seaweed Market?
Asia-Pacific was the largest region in the commercial seaweed market in 2024. The regions covered in the commercial seaweed market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
