Seaweed Cultivation Market
Global Market Study on Seaweed Cultivation: Rising Demand for Natural Food Products to Bode Well for Market Growth
Seaweed Cultivation Market Segmented By Red Seaweed, Green Seaweed and Brown Seaweed Type with Aquaculture, Wild Harvesting Method in Flakes, Powder, Liquid, Sheets Form
As per the seaweed cultivation industry research by Persistence Market Research, East Asia currently dominates the global market accounting for over 60% value share. Another demanding region for seaweed cultivation is South Asia with a share of around 30% in the global market.
Overall, the global seaweed cultivation market is worth more than US$ 18.8 Bn, and is projected to top a valuation of US$ 41 Bn by 2031.
Find Out More about the Report Coverage
- CP Kelco
- Cargill, Inc
- Qingdao Seawin Biotech Group Co. Ltd.
- Acadian Seaplants
- Seaweed Energy Solutions AS
- The Seaweed Company
- Celtic Sea Spice Company
- Irish Seaweeds
- Maine Coast Sea Vegetables
- Vitamin Sea Seaweed
- Pacific Harvest
- Atlantic Mariculture
- Atlantic Holdfast Seaweed Company
- Seaweed Kings
- Z Company
- Cenalga, LLC
- The Cornish Seaweed Company
- Maine Fresh Sea Farm
Key Insights Offered in Seaweed Cultivation Industry Survey:
- Market estimates and forecast 2016-2031
- Key drivers and restraints impacting market growth
- Segment-wise, country-wise, and region-wise analysis
- Competition mapping and benchmarking
- Brand share and market share analysis
- Key product innovations and regulatory climate
- Covid-19 impact on seaweed cultivation demand and how to navigate
- Recommendation on key winning strategies
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Seaweed Cultivation Demand Analysis from 2016-2020 Compared to 2021-2031 Market Outlook
From 2016 to 2020, the global market for seaweed cultivation registered a value CAGR of 6%. The market is being driven by increased demand from the food industry due to rising awareness among consumers about the health benefits that plant-based products offer. This need has forced major food manufacturers to look for alternative ingredients for their end products.
The global market is depicting an absolute opportunity of US$ 1.4 Bn in 2021 over 2020. Furthermore, the market is set to expand at a value CAGR of 8.1% through 2031.
Based on type, red seaweed is showing huge growth potential followed by brown seaweed and green seaweed. Different seaweed types depict different characteristics of smell and taste, coupled with the natural nutrients and energy of the seaweeds. This nutrient profile of various types of seaweeds is another potent factor that is augmenting their utilization across various end-use industries.
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How are Increased Technological Advancements in Seaweed Industry Bringing Market Growth Opportunities?
Seaweed cultivation has witnessed significant growth year-on-year as consumers are adopting a healthy lifestyle that leads to more demand for seaweed. Seaweeds are ethically produced and are pure, safe, secure, high in quality, and deliver healthy nutrients.
Seaweed cultivation is primarily done in the Asia Pacific region, and is a labor-intensive practice, which increases the operational cost for companies. As a result, many companies are investing in technology such as direct planting and automated harvesters.
Companies involved in seaweed cultivation are also moving forward with the implementation of latest emerging technologies such as machine learning, IoT, and artificial intelligence to boost seaweed production and monitor seaweed biomass and habitats.
Hence increased technological advancements are bringing in lucrative business opportunities for seaweed cultivators industry.
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Will Rising Demand for Natural Food Products Drive Demand for Seaweeds?
Demand for products that provide multiple health benefits is rising significantly with many prevailing chronic diseases. Seaweeds are a great source of antioxidants in the form of protective pigments and vitamins A, C, and E. They also contain a decent amount of iodine, which is extremely beneficial for functioning of the thyroid.
Sulfated polysaccharides are sugars found in seaweed, which help increase short-term fatty acids in the body and also aid the growth of good bacteria that improves gut health. Seaweeds are also used in supplements for consumers who require an alternative source of proteins in their diets.
As such, consumer preference for natural food products will drive demand for seaweed and its cultivation.
Will Government Norms for Seaweed Cultivation Act as a Restraint for Market Expansion?
Commercially produced seaweed-based products that are harvested from seaweed aquaculture contain toxic minerals that are harmful to human beings and animals. There is the presence of heavy metals such as arsenic and iodine in seaweeds, and hence, these products need to be checked through quality systems to make them suitable for consumption.
Due to accidents of oil spills and factory waste discharges in the oceans, there is the presence of toxic chemicals in seaweeds, which degrades the quality of seaweed products. Excessive consumption of seaweed increases iodine above the required level in the body, which is harmful. These health and safety concerns associated with the consumption of seaweed is restraining market growth to some extent.
Why is China Showing Promising Market Potential for Seaweed Cultivation?
China is set to register the highest market share during the forecast period in East Asia, followed by Japan and South Korea. In China, the market for seaweed cultivation accounts for more than 90% in East Asia. The rest of the market share is held by Japan and South Korea.
Demand for seaweed in the country is rising due to product efficiency in adding nutritional value to food products.
How is the Indonesia Market for Seaweed Cultivation Faring in South Asia?
The South Asia region contains major developing economies such as India, Thailand, Indonesia, and Malaysia. The share of Indonesia in the South Asia market for seaweed cultivation is more than 88%, and 8.4% CAGR has been predicted, owing to high consumption of seaweed due to it being a product of traditional importance for culinary practices and medicinal properties.
Which Type of Seaweed is Driving the Cultivation Space?
Based on type, red seaweed and brown seaweed are amongst the most consumed and demanded types of seaweed in the global market. Market value share of red seaweed is 51.1% and that of brown seaweed is 46.7%.
Which End-use Industry is Showing Promising Growth Outlook for Seaweed Cultivation?
Animal feed and pharmaceuticals industries are depicting high growth potential for the forecast period. The animal feed industry for use of seaweed is slated to register growth at a value CAGR of 8.5%, and the pharmaceutical sector at a value CAGR of 8%. These segments are providing lucrative business opportunities seaweed cultivators.
What is COVID-19 Impact on Seaweed Cultivation?
Seaweed cultivators have faced increased demand because of its medication property. Key players are expanding their production capacity to cater to this increased demand. Seaweeds generally grow better and faster during the winter season, but they can be grown at any time of the year. Generally, suppliers purchase in bulk and release into the market over a prolonged time.
But due to the unforeseen COVID-19 pandemic, the supply chain of seaweeds was heavily disrupted, which directly impacted seaweed cultivation. This created a huge gap in the demand and supply of seaweed in the market. Coronavirus had a high impact on major seaweed cultivating countries such as China and Indonesia.
Major players involved in seaweed cultivation are obtaining a number of quality certifications from reputed organizations so as to increase the acceptability of their products across major demanding industries and sectors.
- Quingdao Blue Treasure Seaweed Biotech Co. Ltd. has certified technological facilities that are approved under China High-Tech Enterprise Certificate and China Speciality Special New Products Certificate. The products offered by Qingdao Blue Treasure Seaweed Biotech. Co., Ltd. are both, OMRI and REACH certified in China.
- Atlantic Mariculture ensures the highest quality products for its customers. Products offered by the company are certified organic by Pro-Cert under the Canada Organic Regime. The company follows standards of the organic certification process from harvesting to handling seaweed. Employees of the company grade, seal, and package products according to organic norms to preserve the freshness and nutrient contents of seaweed.
Seaweed Cultivation Industry Report Scope
Historical data available for
USD million for value
Key regions covered
Key countries covered
Key market segments covered
Key companies profiled
Customization & pricing
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Segmentation of Seaweed Cultivation Industry Research:
- Red Seaweed
- Green Seaweed
- Brown Seaweed
Method of Harvesting:
- Wild Harvesting
- Food industry
- Meat & Poultry
- Bakery & Confectionery
- Salads, Sauces, & Dressings
- Feed Industry
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