According to Publisher, the Global Commercial Seaweeds Market is accounted for $13.53 billion in 2017 and is expected to reach $33.77 billion by 2026 growing at a CAGR of 10.7% during the forecast period. Increasing demand for Asian cuisine in the western world, growing awareness of medicinal uses of seaweed and rising applications of commercial seaweeds are factors influencing the market growth. However, factors such as extreme use of seaweed products and lack in financial support are restraining the market growth.
Seaweeds are plant-like organisms that are also well-known as marine microalgae, they are usually attached to a rock or further hard substratum in coastal areas. The classification of seaweeds is based on numerous properties such as pigmentation, the chemical nature of the photosynthetic storing product, the group of photosynthetic membranes and added morphological features. The use of seaweeds dates back to the fourth and sixth centuries in Japan and China, correspondingly. Meanwhile, increasing investment and focus on R&D activities relating to seaweed were startedworldwide, which stimulated the cultivation of seaweeds.
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On the basis of Type, brown seaweeds segment is anticipated to grow at a steady rate during the forecast period. The presence of brown seaweeds in food helps in cultivating the joint and bone health, helps in digestion, balances hormones, and decreases hypothyroidism, menstrual problems, cough, asthma, stomach sicknesses, annoyances and haemorrhoids. By Geography, Asia Pacific is projected to grow at a higher rate during the forecast period. Pertaining to the growing existence of tropical rainforests in this region, several species of seaweeds are found in APAC. The industrial applications of seaweeds in the region include pharmaceuticals, agriculture, cosmetics, biofuel, and feed additives.
Some of the key players in the market are E.I. Du Pontde Nemours and Company, Cargill,Inc., Compo GmbH& Co. KG, RoullierGroup, Gelymar SA, BiostadtIndia Limited, CP Kelco, BrandT, AcadianSeaplants Limited, SeasolInternational Pty. Ltd., Chase Organics GB Limited, The Cornish Seaweed Company, Travena Ltd., Indigrow Ltd., West Coast Marine Bio-Processing Corp., Leili Group, Algaia and Seawin Biotech.
– Green Seaweeds
– Red Seaweeds
– Brown Seaweeds
– Alginate-Containing Seaweeds
– Agar-Containing Seaweeds
– Carrageenan-Containing Seaweeds
Method of Harvestings Covered:
– Wild Harvesting
– Other Applications
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