Seaweed is a plant-like organism, which are adhered to rock or other hard substrata in coastal areas. Based on the pigmentation, seaweeds are categorized into three broad groups, red, brown, and green. Botanists refer to these broad groups as phaeophyceae, rhodophyceae, and chlorophyceae, respectively. Seaweeds are macro-algae that differentiate them from micro-algae, which are microscopic in size, and are often unicellular. Red and brown seaweeds are mostly found in marine water, whereas green seaweeds grow in freshwater. Seaweeds are used in many maritime countries across the globe as a source of human food, hydrocolloids, fertilizers, animal feed additives, and others, including aquaculture, biomass for fuel, and wastewater treatment. The major utilization of these seaweeds as food and food ingredients is in the Asia-Pacific region, particularly in China, Indonesia, Philippines, Korea, and Japan where seaweed cultivation has developed into a huge industry.

Hydrocolloid polysaccharides have significant importance, both technologically and economically, since they are used in the food, pharmaceutical, medicinal, and biotechnological industries, due to their distinct physicochemical properties. Increase in demand for seaweeds in the manufacture of hydrocolloids, such as agar, alginate, and carrageenan, is anticipated to boost the adoption of seaweeds during the forecast period. Moreover, they are applicable in human food, hydrocolloids, fertilizers, animal feed additives, aquaculture, biofuel, and wastewater treatment, which increase their consumption. Untapped markets in North American and European countries are anticipated to open new opportunities for the seaweed manufacturers, thereby driving the market growth. However, volatility in the prices of seaweed due to unstable supply and constant change in weather patterns hamper the market growth.

The seaweed market is segmented based on product, application, and region. Depending on product, the market is fragmented into red, brown, and green seaweed. The applications covered in the study include human food, hydrocolloids, fertilizers, animal feed additives, and others. By Region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Some of the major players analyzed in this report are Cargill Inc., DuPont, Groupe Roullier, Irish Seaweeds, Qingdao Gather Great Ocean Algae Industry Group (GGOG), Annie Chun's Inc., Chase Organics, GimMe Health Foods, Maine Coast Sea Vegetables, and Mara Seaweed.

KEY BENEFITS

This report provides a quantitative analysis of the current trends, estimations, and dynamics of the global seaweed market from 2017 to 2024 to identify the prevailing market opportunities.
The key countries in all the major regions are mapped based on their market share.
Porter's Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global industry.
Market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of market players.
The report includes the analysis of the regional as well as global market, key players, market segments, application areas, and growth strategies.

KEY MARKET SEGMENTS

By Product

Red
Brown
Green

By Application

Human Food
Hydrocolloids
Fertilizers
Animal Feed Additives
Others

By Region

North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Spain
Denmark
Rest of Europe
Asia-Pacific
China
Indonesia
Philippines
Korea
Japan
Rest of Asia-Pacific
LAMEA
Saudi Arabia
UAE
South Africa
Tanzania
Rest of LAMEA